United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2002-03-05 monographic deposited born digital 38 p. GA 1.13:GAO-02-483T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-02-483T P0b002ee1803936cd f:d02483t DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-02-483T machine generated eng fdlp REPORT GAOREPORTS-GAO-02-483T GAO-02-483T Accounting procedures Accounting standards Auditing procedures Auditing standards Corporations Financial statement audits Regulatory agencies Reporting requirements California Public Employees Retirement System Testimony A02856 The rapid failure and bankruptcy of Enron has prompted severe criticism of the nation's financial reporting and auditing systems, which are fundamental to maintaining investor confidence in U.S. capital markets. This report focuses on four areas in which the Enron failure revealed serious problems: corporate governance, the independent audit of financial statements, oversight of the accounting profession, and accounting and financial reporting issues. Effectively addressing these issues should be a shared responsibility between top management, boards of directors, various board committees, stock exchanges, the accounting profession, standard setters, regulatory/oversight agencies, analysts, investors, and Congress. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-02-483T/html/GAOREPORTS-GAO-02-483T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-02-483T/pdf/GAOREPORTS-GAO-02-483T.pdf GAO-02-483T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-02-483T Testimony GAO-02-483T; Protecting the Public Interest: Selected Governance, Regulatory Oversight, Auditing, Accounting, and Financial Reporting Issues; Accounting procedures Accounting standards Auditing procedures Auditing standards Corporations Financial statement audits Regulatory agencies Reporting requirements California Public Employees Retirement System