NOTE: Read the attached case study “Accounting for Enron” carefully, and answer the following questions with minimum 350 words. Answer must be 100% original.
1- What possibilities did David Duncan owe to Arthur Andersen, to Enron’s management, to Enron’s stockholders and to the accounting profession? Explain.
2- What are the ethical responsibilities of a corporate attorney, such as Nancy Temple, who works for an “aggressive” client wishing to push the envelope of legality? Explain.
3- Under what conditions should an employee such as Sherron Watkins blow the whistle to outside authorities? To whom did she own loyalty? Explain.
4- To whom does the board of directors owe their primary responsibility? Can you think of any law or regulations that would help ensure that boards meet their primary responsibilities? Explain.
5- What responsibilities do government regulators owe to business, to the market and to the general Public? Explain.
6- Are accounting and law professions or businesses? What is the difference? Explain.