Introduction Reforms to restore confidence in business Although investigations into Enron are continuing, and criminal prosecutions may follow, we cannot wait to learn the lessons. They are already clear. They must be acted on now. In this special report, we set out the FT's view on how to achieve this.| Read Corporate governance Giving meaning to the codes of best practice At the heart of the Enron scandal is a failure of corporate governance. Similar lapses can be found in most big scandals. But they also exist where there is no scandal, merely poor performance or entrenched mediocrity. Auditing & accounting Honest numbers require robust rules and policing When a company and its auditors both shred documents, something has gone badly wrong with the accounting. The events at Enron require reforms both in the nature of the accounting rules and in the way those rules are policed. Trading & markets A fresh look at rules for energy and finance In one respect at least, Enron was a most unusual company even when things appeared to be going well. It was a huge, unregulated trading company - in effect, an investment bank that escaped all the normal prudential and conduct of business rules. Outside observers Unofficial watchdogs need sharper eyesight If the immediate custodians of Enron's behaviour - its board, the auditors, stock market regulators - fell down on the job, so did the outer ring of watchdogs, such as credit rating agencies, stock market analysts and business reporters.