{
  "id": "RS21269",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "RS21269",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 103084,
      "date": "2003-01-28",
      "retrieved": "2016-05-24T19:59:09.212941",
      "title": "Accounting Problems Reported in Major Companies Since Enron",
      "summary": "Since the sudden collapse of Enron Corp. in the fall of 2001, and the series of accounting\nscandals\nthat followed, the integrity of corporate financial accounting has emerged as a public policy concern. \nOver 100 U.S. companies, including several of the largest, restated (or corrected) their\npreviously-announced financial results in the first half of 2002. During the 1980s and early 1990s,\nby contrast, there were an average of about 50 restatements per year. Does the increase represent a\ndecline in the quality of corporate accounting, the inevitable fallout from the end of an easy-money\nstock market boom, or is it the result of more intense, post-Enron regulatory scrutiny? Do\naccounting scandals reflect a few rotten apples in the corporate barrel, or has \"gaming the numbers\"\nbecome standard practice at many U.S. companies? The 107th Congress enacted fundamental\nauditor\nand accounting reform legislation (the Sarbanes-Oxley Act,  P.L. 107-204 , summarized in  CRS Report RL31483 ). This report presents brief summaries of the accounting problems that have been\nreported at major corporations since Enron. It will be updated as developments warrant.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
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      "topics": []
    }
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}