I would have loved to have heard this presentation. Self justification may be but some good points made.
Former Enron chief financial officer Andrew Fastow says that following accounting rules to the letter contributed to the infamous collapse of the US energy trader and landed him in jail. In a candid and wide-ranging presentation at the FT Camp Alphaville summit, dubbed “The Smart Guy in the Room”, he cautioned that modern accounting methods could be legal while still presenting a misleading picture of a company’s health. “There may be a fundamental difference between a company following the rules and a company presenting a true picture of its financial position,” he told an audience assembled for the annual get-together for the FT’s financial and markets bloggers and its readers.