Saturday, April 21, 2018

Bad books: whither professional behaviour

Today's Globe and Mail has an article by Mattew McClearn I hope those who follow me will read - but it is work and if you're not that invested in the Sousification of Ontario's accounting at least take a couple of minutes to watch the video embedded in Bad books: How Ontario’s new hydro accounting could cost taxpayers billions.
The IESO changed its accounting policies in March 2017 and said the shortfall was an "asset".
The government said this "asset" represented the IESO's right to recover the shortfall -plus interest charges and other expenses -  from future ratepayers years from now.
The Auditor-General says this "asset" does not exist.

Image from Globe and Mail showing Bay Street's seals of approval
I don't wish to dwell on the article beyond recommending you read it, but I will expand on some topics I've touched on before to demonstrate why the article should be read as illustrative of a greater rot.