Q1 scapegoats: energy and weather

A focus on accounting compliance in the wake of the Enron bankruptcy and the string of high-profile technology, media and telecoms company meltdowns that followed featured heavily in second-quarter corporate disclosures. As US legislators, regulators and institutional investors proposed new rules on corporate governance and accounting, and regulators promise stricter enforcement, companies are volunteering more detail in their quarterly and annual reports on exposures, contingent liabilities and