Skip to main content

US energy companies pressured on accounting, rethink European interests

-eliant-jpg
In a further sign of Enron’s impact on US accounting procedures, energy company Reliant Resources says it has discovered errors in its financial accounting that will mean its 2001 earnings are boosted by $100million–$130 million.

Reliant says it will restate its second- and third-quarter 2001 earnings after an internal review found that a number of transactions initially marked down as cashflow hedges failed to meet financial accounting standards hedging criteria.

The transactions will be

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Energy Risk? Register here

Register for access to all Energy Risk content

All fields are mandatory unless otherwise highlighted

Most read articles loading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: