After Enron addresses the major lessons about accounting, auditing, taxation, and corporate governance that are illustrated by the collapse of Enron and other recent major corporate scandals. The book then develops a set of proposals for changes in public policy that would lead accountants, bankers, board members, lawyers, and corporate managers to better serve the interests of the general public.
William A. Niskanen has been the chairman of the Cato Institute since 1985, following service as a member and acting chairman of President Reagan's Council of Economic Advisors. He had previously served in two other federal positions, as director of economics of the Ford Motor Company, and as a professor at the University of California at Berkeley and Los Angeles. He currently resides on Capitol Hill in Washington, D.C. with his wife, Kathryn.
Chapter 1 Preface Chapter 2 A Crisis of Trust Part 3 Private and Public Actions in Response to the Enron Collapse Chapter 4 Major Private Responses Chapter 5 Political Responses to the Enron Scandal Part 6 Accounting Chapter 7 Don't Count Too Much on Financial Accounting Chapter 8 Corporate Accounting Before and After Enron Part 9 Auditing Chapter 10 Don't Count Too Much on Auditing Chapter 11 The Formal Audit Process Chapter 12 The Market Analysts Chapter 13 Public and Private Rule Making in Securities Markets Chapter 14 Should Congress Repeal Securities Class-Action Reform? Chapter 15 The Business Press as a Corporate Monitor Chapter 16 Lawyers as Corporate Monitors Chapter 17 Bankers as Corporate Monitors Chapter 18 The Credit Rating Agencies Chapter 19 The SEC as a Corporate Monitor Part 20 Taxation Chapter 21 The General Problems of the U.S. Tax System Chapter 22 Compensation, Journalism, and Taxes Chapter 23 Replace the Corporate Income Tax with a Cash-Flow Tax Part 24 Corporate Governance Chapter 25 Corporate Governance Part 26 Major Policy Lessons From the Collapse of Enron Chapter 27 Major Policy Lessons from the Collapse of Enron Chapter 28 Index