Discuss the Liability of the Attorneys to Third Parties,particularly in the Matter

question 32

Essay

Discuss the liability of the attorneys to third parties,particularly in the matter of the Enron fraud case.

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Definitions:

Cash Sales

Transactions where payment is made in cash (or equivalent) at the time of sale, with no delay in payment.

Internal Control

Processes and procedures implemented by an organization to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Cash Remittances

Money transfers from one party to another, often sent by individuals working abroad to their family back home.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those presented on a bank statement to ensure they are consistent and accurate.