BusinessCompany News‘UK standards would have prevented Enron’

'UK standards would have prevented Enron'

Enron would never have got away with the accounting policies it pursued if it had been forced to comply with UK standards, according to Sherron Watkins, the accountant who blew the whistle on fraud at the disgraced US energy giant.

Link: For the full interview with Sherron Watkins

In an interview with Accountancy Age, Watkins, an Enron vice-president, said that a senior colleague who had worked in the UK told her that its policies of forward revenue recognition and hiving off of liabilities would not have been allowed in Britain.

‘The treasurer of Enron was over here for two or three years in the London office, and he said you could not have got away with the same stuff in London that he got away with in Houston,’ she said.

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