Enron's demise prompted a radical rethink of corporate governance in the UK. But is business any better off as a result?
Though it was an avowedly American company, and the seeds of its downfall lay in American laws and accounting standards – arguable even in American corporate culture – the collapse of Enron set off alarm bells well beyond the United States.
After a spate of corporate scandals in late 2001, and the ensuing failure of Italian diary giant Parmalat in 2003, regulators in many countries felt compelled to seek improvements to the way companies were governed.
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