Read this report from the Vancouver Sun on BC Auditor General John Doyle's slamming of BC Hydro's shocking accounting practices.

"Not often do accountants engage in the bookkeeping equivalent of hand-to-hand combat. But there was some of that at a meeting of the public accounts committee of the legislature one day last week, as BC Hydro's chief financial officer and acting CEO Charles Reid squared off against Auditor-General John Doyle.

The occasion was supplied by the committee review of Doyle's recent report on Hydro's growing practice of defer-ring current expenses to future years. The flashpoint was provided by Doyle's bald assertion that although every penny of the soon-to-be-$5-billion balance in the 27-and-count-ing deferral accounts will have to be repaid, neither Hydro nor the government has any detectable plan to do so. (Nov. 30, 2011)

Read article: http://www.vancouversun.com/Auditor+finds+billion+snake+dilemma+Hydro+hard+swallow/5788297/story.html#ixzz1fDPdH0v4