the warning signs of ethical collapse
speaker: Sherron watkins
1-Hour of Ethics Credit
FREE to Austin ACFE Members
with dues paid by Sept. 10, 2020
Enron’s leadership pursued best practices on paper, but behaviors told a different story, setting up a culture and value system that became a breeding ground for not just thinking outside of the box, or pushing the envelope, but for actual fraud. Fortune Magazine named Enron the "Most Innovative Company in America" for seven years in a row. Unfortunately, the dark side of innovation is fraud. Topics to be discussed in this presentation include: impact of compensation systems on fraud, getting bad news to and responses from top executives, consequences of violating corporate policies, corporate impact of ethical lapses in the C-suite, and whistleblowing in the 21st century.
ABOUT THE SPEAKER:
Sherron Watkins, former VP of Enron Corporation, is known worldwide as the Enron whistleblower. In August 2001, she alerted Ken Lay, CEO, to accounting irregularities within the company, warning him that Enron "might implode in a wave of accounting scandals." She has testified before Congressional committees including the House and Senate during their investigation of Enron’s demise. TIME magazine named Sherron, along with Coleen Rowley of the FBI and Cynthia Cooper of WorldCom, as their 2002 Persons of the Year for being “people who did right just by doing their jobs rightly.” Sherron is globally recognized as an exceptional speaker on topics that include ethics, flawed leadership, and the toxic label of whistleblower. She has seen firsthand the cost of an erosion in values and questionable ethics of corporate leadership. Her journey through the Enron crisis crystallized her focus and desire to improve the lot of whistleblowers and would-be whistleblowers. Now an independent speaker and consultant, she is co-author of Power Failure, the Inside Story of the Collapse of Enron (Doubleday 2003).
After attending this sessions, participants will be able to:
- Describe how compensation systems impact fraud
- Explain the challenges of getting bad news to and responses from the C-suite
- Discuss GAAP “form over substance” & need for consequences of violating company policy
- Describe the role of the banks and Arthur Andersen in Enron’s collapse
- Explain the importance of the CEO and how ethical lapses at the top are magnified below
- Evaluate the status of whistleblowing in the 21st century and Dodd-Frank protection
Program Level: Basic
Advanced Preparation: None required
This presentation will take place online. Information will be forwarded to you after registration.
FREE for Austin ACFE members with dues paid by September 10, 2020.
Non-member Fee: $40
The Austin Area Chapter of The Association of Certified Fraud Examiners is a non-profit organization formed in the State of Texas and registered as a 501 (C) (6) Organization with the IRS.
The Austin Area Chapter of The Association of Certified Fraud Examiners is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org
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