Enron is not the example of what American businesses do, it is the exception," said Adjunct Professor Clarence Houghton at the April 2, 2002, conference titled "The Enron Debacle: What Happened and What's Next?" organized by the Center for Financial Reporting & Management. Houghton, a former partner of Deloitte Haskins + Sels, was one of five panelists to speak at the event. The center's executive director Brett Trueman, who organized the event, reviewed the stock option plans that led to overzealous business practices geared to short-term gains at the expense of long-term company health at Enron. Bara Dharan, professor at Rice University, explained the balance sheet and reporting irregularities of Enron that should have raised red flags for accountants. John Menke of Menke & Associates talked about ways to protect individual and institutional investors, while Houghton and Helen Munter of Deloitte & Touche discussed possible solutions to avoid similar debacles in the future.
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