Son of Enron | China Accounting Blog | Paul Gillis

Son of Enron

I have recently published two articles on how the accounting standard developed to prevent another Enron was perverted to create Chinese variable interest entities. Accounting standard setters ought to take a hard look at how this standard is being applied.

The first article, for a general audience, is in Foreign Affairs.  The second, more academically oriented, is in the Journal of Applied Corporate Finance

I remain hopeful that China will, as promised, revise the rules on foreign investment in e-commerce and education and make the VIE structure obsolete. 

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