Saturday, April 15, 2006

Skilling on Sarbox: ''We Had It Before''


Former Enron CEO maintains that when it came to accounting controls, the energy giant was ''significantly ahead'' of the pack

"It's funny that Sarbanes-Oxley, that's one of the protections to make sure there isn't another Enron, we had it before," maintained former Enron chief executive officer Jeffrey Skilling on his first day of testimony, according to the Houston Chronicle.
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Skilling — on trial in federal court in Houston with his former colleague Kenneth Lay — reportedly told jurors that as a consultant, and later as Enron's CEO, he visited many companies, and that when it came to accounting controls, the energy giant was "significantly ahead" of the pack.

In fact, asked by his attorney Daniel Petrocelli whether he would consider himself "a control freak," Skilling reportedly responded, "It's more accurate to call me a controls freak than a control freak."

See full Article.