APPENDIX B: GLOSSARY
270
E
Employee: An individual who has been engaged by the ofcers of a cor-
poration under the authority of the board of directors.
Enron: Enron was a publicly traded US energy corporation with head-
quarters in Houston, Texas. The company was a major producer
of electricity and natural gas. It also controlled many subsidiary
corporations that owned pulp and paper mills and communi-
cation networks. Prior to bankruptcy in 2001, Enron employed
more than 20,000 people and was listed on the New York Stock
Exchange. The company reported revenues of over $100 billion in
2000. Accounting fraud caused the company to spiral into bank-
ruptcy on December 2, 2001. The aftermath of this massive fraud
resulted in new legislation being en ...