International Business Research; Vol. 7, No. 2; 2014 ISSN 1913-9004 E-ISSN 1913-9012 Published by Canadian Center of Science and Education 160 The Impact of Strengthening the Judicial Accountability of Corporate Governance in Order to Combat Corruption in the Companies Listed in the Financial Markets Nawaf Ahmad Al-Ghusin 1 , Najeb Masoud 2 & Nabil Al Nasser 1,2 1 Faculty of Economics & Administrative Sciences, Al-Zaytoonah University, Jordan 2 Faculty of Economics & Administrative Sciences, Middle East University, Jordan Correspondence: Nawaf Ahmad Al-Ghusin, Faculty of Economics & Administrative Sciences, Al-Zaytoonah University, Amman, Jordan. Tel: 96-277-910-8599. E-mail: Algusin _2010@yahoo.com Received: October 31, 2013 Accepted: December 20, 2013 Online Published: March 26, 2014 doi: 10.5539/ibr.v7n4p160 URL: http://dx.doi.org/10.5539/ibr.v7n4p160 Abstract The aim of this study is to discuss and analyse the reasons for the collapse of one of the huge energy companies (Enron), which resulted in its collapse to the collapse of the largest auditing firm in the world (Arthur Andersen) to prove their involvement in manipulations of finance which was Enron, and then see recent changes to the corporate governance because of those collapses, and the views of the surrounding environment in the United States, the possibility of the application of those changes on the ground. The study concludes that: both collapse of Enron, and Arthur Andersen are due to specialised ethics, Arthur Andersen did double job to Enron, and which was a clear violation to the rules, The financial market authorities was responsible to those collapses due to shortage of control, most of the companies and auditors face difficulties in applying new rules of corporate governance, and main problem arise in ethics not in the rules controlling corporate governance. Keywords: judicial accountability, corporate governance, corruption, financial markets 1. Introduction Since the collapse of the leading companies in the world succession in accelerator, and the world is trying to find appropriate solutions to prevent such collapses because of its significant negative impact could lead to the collapse of the economy of fully, I’ve had the collapse of Enron Energy, and the subsequent collapse of the greatest auditing firm in the world Arthur Anderson, to prove involvement with the collapse of Enron and a negative impact on the markets of the United States of America. The government is confused, which began looking for the reasons that led to those unexpected breakdowns occur. All the analyses showed that were conducted to identify the causes of landslides that occurred a defect mainly in the ethics and practice of accounting and auditing, and building upon the U.S. government in 2002 to develop new legislation called the Sarbanes-Oxley Act have been obliging listed companies financial markets the U.S. to implement. The researchers will familiarised themselves with all necessary things to answer their questions and analysed by eating all the books on the subject of research in periodicals and specialised professional party sites via the internet. Also, the researchers can be see that this topic a high degree of importance, and can be utilised at the local level widely, institutions of Jordan on knowing the reasons that lie behind the collapse of the companies the greatest country in the world despite the existence of standards and codes developed by the extreme, whether the solutions created by the indicator contributed to the solve problems? It could be argued that what happened in the United States of America is a lesson we must take advantage of it effectively. All the legislation in general, and legislation governing companies, in particular, is the legislation stems from sociology and depends developed tests and the discovery of errors, and this is what actually happened in the United States, where there was legislation governing companies working in it, but in the era of short amount of time that many landslides occurred, which warned that there is a lack of such legislation previously in force, and it is time to update and develop effective to make them more efficiently to address past mistakes. The problem of study can inventory to finding answers to the following questions: 1) How did the collapse of Enron Energy company, Inc. and Arthur Anderson?