Andrew Fastow: Lessons Learned from Enron’s Former CFO

 


Andrew Fastow  

Andrew Fastow
Former Chief Financial Officer,
Enron Corporation



The lessons of Enron are cautionary, fundamental, and for the ages.

Enron was the world’s largest natural gas supplier and the world’s largest manufacturer of wind turbines, and was named “America’s Most Innovative Company” by Fortune magazine  for 6 consecutive years from 1995-2001. Andy Fastow was awarded “CFO of the Year” in 2000 by Fortune — shortly before it imploded, seemingly overnight.  But for a legendary short seller, no one saw it coming.

Fastow will speak candidly about his pivotal role in Enron’s dizzying ascension — and equally dizzying collapse — as the biggest accounting fraud in all history, and one of the biggest corporate bankruptcies in US history.

He will share his observations about how the ambiguity and complexity of laws and regulations breeds opportunity for problematic decisions, and share the questions corporate directors, management, attorneys, and accountants should ask to make certain that their companies not only follow the rules, but uphold the principles behind them.

The debacle of Enron ushered in the sweeping Sarbanes-Oxley Act of 2002 — the government’s attempt to ensure such an event could never happen again. Could it? Fastow will also discuss the widespread use of off-balance-sheet vehicles, as well as inflated financial assumptions embedded in some corporate pension plans that continue today.

Don’t miss this unique opportunity to hear from somebody who learned the hard way.

Bring your questions for a robust Q & A.

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