Systemic

An action plan to improve the health of the Chesapeake Bay and the Susquehanna River watershed, including some activities that focus on the impact of drilling for natural gas in the Marcellus Shale, is under way by federal officials.

A Senate committee investigation has concluded a “systemic and catastrophic failure” by the Securities and Exchange Commission (SEC) and other industry watchdogs allowed Enron Corp. to get away with its fraudulent activities for as long as it did.

A Senate committee investigation has concluded a “systemic and catastrophic failure” by the Securities and Exchange Commission (SEC) and other industry watchdogs allowed Enron Corp. to get away with its fraudulent activities for as long as it did.

In a call to action for the energy industry Wednesday, KMPG LLP CEO Stephen G. Butler said the “systemic flaws” revealed by Enron Corp.’s bankruptcy have to be fixed, but warned it will take more than just rewriting accounting rules. Speaking at Cambridge Energy Research Associates’ 21st Annual CERAWeek Executive Conference in Houston, Butler suggested several reforms, including replacing required quarterly reports with information in “real time” to offer a more transparent picture of a company’s health.

In a call to action for the energy industry Wednesday, KMPG LLP CEO Stephen G. Butler said the “systemic flaws” revealed by Enron Corp.’s bankruptcy have to be fixed, but warned it will take more than just rewriting accounting rules. Speaking at Cambridge Energy Research Associates’ 21st Annual CERAWeek Executive Conference in Houston, Butler suggested several reforms, including replacing required quarterly reports with information in “real time” to offer a more transparent picture of a company’s health.