I have been on vacation for the last half of this month, and that along with Christmas has resulted in much less activity on this blog than is normally seen.
Additionally, I have been immersed in a great book on the Enron scandal, titled â€œThe Smartest Guys In the Room: The Amazing Rise and Scandalous Fall of Enron.â€
The book was originally published in 2003, but was recently republished with an extra chapter. â€œNow includes the Enron trial and the death of Ken Lay,â€ the cover advertises.
Iâ€™m a little surprised I havenâ€™t read a book on Enron until this point, given how fascinating the fraud is to me. I thoroughly enjoyed it.
The book is accessibly written. You donâ€™t have to be an auditor to undeerstand what caused Enron to implod. That sort of disappointed me â€“ the book didnâ€™t go into enough detail for my liking. But they know their audience, which isnâ€™t exclusively the audit profession.
I was hoping to see some debits and credits and maybe even a T-account or two, dissecting each transaction of each special-purpose entity (SPE) in painstaking detail, but I was out of luck.
I wonâ€™t go into too much more detail at this point, as I will pull out some of the more memorable passages in future posts and discuss them there.
Suffice it to say the book was awesome and I recommend it to everyone, not just auditors.