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What brought about Enrons collapse An interesting question since I really did not know the answer to it I thought the company went down for embezzling After researching this for my paper I was wonderfully surprised to discover what really brought about the collapse It was not just one area or one department it was many different divisions together Peter Behr and David Hilzenrath from the Washington Post quoted quite eloquently Enron fell because of massive failures by its management board and outside advisors as well as self-enrichment by some employees This was exactly what I discovered to be true It really began when Jeffrey Skilling took over as Chief Executive Officer CEO back in February of 2001 Mr Skilling waived all ethic rules of business when he allowed Andrew Fastow to head up particular persons or groups that bought and sold assets with the company all while still working for Enron It was quoted in a report that described Fastow as the primary creator of Enrons deceptive finances1 But it really wasnt just his ability to manipulate that led to the fall Kenneth Lay chairman of the board and Mr Skilling were often called inattentive These top two executives along with other board members neglected to monitor Fastows activities All the while he earned a reported 30 million often bumping up his sales so his commission would be larger Fastow wasnt the only one misrepresenting the figures many sales personnel reportedly earned a 3 bonus on all transactions They cleared the bonus when the sale was commissioned not when the profits began to show Naturally this was a temptation by many to bump up the numbers Falling again on the top executives and board members for being unobservant and not stressing a more critical voice The accounting department played a large role in the collapse of the company as well In many cases my research showed that a handful of managers in
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