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The auditor signed off the accounts despite having significant concerns about the partnerships, Mr Fastow and the financial controls at Enron's new broadband trading division, and noting that the company was "aggressive in its transaction structuring".
Andersen approved Enron's accounts despite having significant concerns about the partnerships, Mr Fastow and the financial controls at Enron's new broadband-trading division, and noting that the company was "aggressive in its transaction structuring".
Enron was not the only company to push the rules, to be "aggressive in its transaction structuring," as an Arthur Andersen partner put it in one memo.
Rigid accounting transparency punishes initiative and will influence economic decision making and transaction structuring with short-term accounting effects in mind.
Similar(56)
The transaction, structured as a leveraged buyout, would make Macy's a private company.
But he also noted that a transaction structured in a way that was unfair to a controlling shareholder could be considered a serious breach of fiduciary duty.
Practically every private company transaction structured as a sale of shares involves some mechanism for working capital.
The $5 billion transaction, structured as a tax-free Reverse Morris Trust, will give Lockheed Martin shareholders 50.5% of the equity in the combination, and Leidos shareholders the remainder.
Increasingly, they also earn fees for being the middlemen in capital-market transactions (structuring derivatives, share and bond offerings, and so forth).
The company's first product, Split Pay, gives consumers the ability to take out a short-term loan to finance transactions, structuring financing like home and car loans and avoiding the costly and consumer-unfriendly credit card APRs.
The Defendants conspired to launder the equivalent of more than $95,000 through a web of transactions structured to capitalize on the perceived anonymity of cryptocurrencies such as bitcoin.
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