The Event of Enron Scandal - Essay Example

It was only after the scandal that the government decided to do something about the prevention of possible future crimes that might be committed. Ethical considerations for the case and verdict required that no further information on the criminal case was leaked out into the public. As for justice on the crimes that were committed, the defendants had to pay for their crimes and were sent to jail. As much as they claimed that they were innocent, the jury had found them guilty with no biases made.

The victims, although suffered terrible losses in terms of finances in the market, nothing more could be asked as the criminals who were the cause of the crime were sent to jail—it was better than having the criminals set loose. For the rest of the people in society who were not involved in the incident, justice was served as the government had taken action to close the company so as to prevent more probable problems that might come from them. As a result of the scandal, the UK and the USA were the first countries to make the necessary changes so as to prevent anything like the scandal to happen again.

Accountability and legal changes were made and this leads to the creation of the Sarbanes-Oxley Act which required that CEO and CFO of any company to certify annual reports that will be passed to the government. The inability to do the required action of the law meant the probability of facing charges on the part of the CEO and CFO (“What is the Sarbanes-Oxley Act? n.d.).