Law Article Synopsis

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ARTICLE SYNOPSIS

In the article “The Sarbanes- Oxley Act and the Enron scandal was about the fraudulent issues that took place within one of the top American oil refinery companies. The article discussed the overall background of Enron success as well as Enron’s major fall due to the dishonest business ethics that took place within the company. The article explains the Sarbanes- Oxley act that passed in 2002 and why the act came about and the importance of the Sarbanes- Oxley act to the corporate business world.

LEGAL ISSUE

In the article there were many legal business issues that arise within the company Enron. Most of the legal issues that were mostly common in Enron were fraud. Enron were very misleading to their shareholders and employees and were being dishonest about their earnings reports while telling their employees to invest only in Enron as well as the embezzlement of money from the firm. The end result of Enron’s legal issues lead to their bankruptcy and furthermore the Sarbanes –Oxley act that took place to ensure less fraudulent activities within corporate companies.

MANAGERIAL PERSPECTIVE

The legal issues affect business tremendously; it can cause the business to lose almost everything because of the unethical way business is being conducted. In the Enron scandal many issues could have been avoided by simply being honest with their earnings reports as well as remaining ethical by not trying too hard to get ahead and compromising their corporate image. If Enron would have not compromised their business ethics and did things the honest way to get ahead they would have avoided bankruptcy and their employees and investors would have not been affected by the scandal.

The SOX Act has a great effect on the ethical decision making in today’s business environment because it helps businesses practice ethical behavior within…...

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