READ: "Andersen implosion over Enron: an analysis of the contagion effect on Fortune 500 firms"

After reading the article, draft a two-page paper by explaining what you learned about accounting and finance. You can include any reflections related to the article; however, address in paragraph form at least the following in your two-page paper:

• What specific actions (or lack of) led to Enron's bankruptcy?

• What types of fundamental accounting and auditing practices eventually contributed to the fraud performed by Enron?

• Briefly describe the ethical environment that led to the fraud.

• How did Enron's bankruptcy impact the financial markets for Enron's competitors?

• Briefly describe what you learned about the importance of the auditing process.