
Nem committee aims to safeguard post-Enron credibility
The committee will take a leadership role in addressing industry-specific accounting issues, including FASB 133, which will forge industry consensus on the proper valuation of energy trading contracts, plus appropriate disclosure rules for physical and financial trading activities. Goodman added the committee would focus on educating the investment community on the appropriate use of energy derivatives to manage corporate risk in the competitive wholesale energy markets.
“Energy producers, marketers and traders now need improved internal processes that are supported by software to comply with the SEC's standards,” said Walker. “The main goal of this task force will be to collaborate with auditing and rating firms to develop standard methods of valuation and accounting practices. This will enable companies to provide consistent and complete information to the investment community.”
Walker has more than 35 years' experience in the energy trading and risk management industry. Prior to joining Caminus, he served as operations director for Ernst & Young’s (E&Y) Magellan Center for Trading & Risk Management. Before joining E&Y he was chief information officer of Enron's wholesale energy trading business units .
Nem represents wholesale and retail energy marketers, as well as suppliers of energy-related products, services, information and technologies throughout the US.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on People
Derivatives
Callable repack frenzy opens up new options market in Europe
Demand driven mainly by French life insurers looking for alternatives to low-yielding sovereign bonds
Receive this by email