Accounting of Enron Case Study Example | Topics and Well Written Essays - 500 words

Accounting of Enron - Case Study Example was also a player in the accounting profession, he had the responsibility of upholding the integrity of his profession, which, according to Marion (2001), entails reliability, competence, objectivity and above that, integrity. The ethical responsibilities of a corporate attorney and as pointed out by Desjardins and McCall (2005), can be seen to include, the screening of clients’ reports before they are released publicly, and also the setting up of press-briefing meeting, in the case that any news or reports concerning the client firm, wants to be released to the general public. An employee such as Sherron Watkins can act as a whistle-blower to the outside authorities with regards to the on-goings within the company in the event that the company engages in the breach of law or poses a threat to public interests (Nindya, 2010). Nindya further goes on to note that one should owe their loyalty to the ‘parts’, which make up the company, and who, as in this case, happen to be the shareholders. The board of directors, as pointed out by Desjardins and McCall (2005), owes its primary responsibility to the shareholders. This means that, all the efforts by the board of directors should be aimed at safe-guarding he interests of the shareholders in the company. In an attempt to ensure that the board meets these responsibilities, laws can be put in place, for example, and as Nindya (2010) points out, each of the board members can be required to pledge loyalty to the shareholders, with regards to their conduct and not just the company as an entity separate from its shareholders. Government regulators have responsibility towards business, the market and the general public. Focusing on business, as argued by Machan (1998), government regulators ensure that individuals are engaged in fair dealing and get value for their money. With regards to the market, Machan (1988) further goes on to note that government regulators should ensure that the market attains its optimum