論文摘要 本論文首先介紹特殊目的個體,以2001年11月發生於美國的安隆(Enron)事件為例,進一步探討特殊目的個體之應用,未來國內極可能引進此類功能強大的金融工具,由於特殊目的個體影響財務報表重大,本研究期望能對此一特殊工具作一探討,更期望為國內於未來運用此工具提供有效的建議。除了美國財務會計準則規定之外,國際財務會計準則亦有關於特殊目的個體之規範,我國並無特殊目的個體之應用,藉由比較兩者的差異進而尋找為何會導致安隆(Enron)事件之發生,未來我國制定公報能以此為借鏡。 本論文分為五章: 第一章 為研究動機、研究目的、研究架構、研究方法。 第二章 本章主要內容為安隆(Enron)事件中特殊目的個體之應用與操弄,主要是以Powers Report的調查報告為輔助,瞭解安隆(Enron)公司管理階層如何利用公司治理之漏洞,進行財務報表操弄、內線交易等。 第三章 此章內容主要說明美國如何因應此次安隆危機,完整介紹美國所修正合併報表相關公報,美國期盼將合併報表規定作一較為完備之整理,並且修正特殊目的個體規範中嚴重的缺陷,例如,3%外部股權規範。 第四章 為何會導致此次財務報表操弄的危機?其實種因於公報制定,一開始的規範就有缺陷,危機始終存在於美國各企業財務報表中,加上公司治理的效果不彰,於2001年11月才爆發安隆事件,歸根究底探討當時公報未能防範的缺陷與原因。 第五章 未來我國制定公報的規範能截長補短,融入國際會計準則與美國會計準則之優點,避免再次陷入財務報表危機,希望對我國公報制定有所裨益。
Abstract In this paper, I will first explain the definition of special purpose entity (SPE). In Enron’s case, which happened in November 2001, I will discuss how manipulation of financial statements with SPE differs from traditional accounting techniques. There may be usage of SPE in Taiwan. Because its influence of financial statement, I will discuss the application of SPE and try to make some suggestions. The rules of SPE under IAS and FASB are different. In this paper, I expect to make some suggestions by Enron’s failure. This paper consists of five parts, they are: (1) Motive, purpose, skeleton, and methods of this paper. (2) The primary content of this part is application of SPE. I will introduce how manipulation of financial statements with SPE by the manager of Enron. I reference “Report of Investigation by the Special Investigative Committee of the Board of Directors of Enron Corp” to understand this manipulation. (3) How to cope this failure of financial statement is very important for the U.S. government. I introduce several correctives of the U.S. government, including amendment of GAAP. (4) The bankruptcy of the Enron Corporation associated with its abuse of SPE. From our review of the slowly evolving authoritative guidance on the proper GAAP accounting for SPE, we draw the conclusions. (5) There will be application of SPE in the future in our country. The inherent and built-in of transparency of SPE also provide ample opportunities for managers to manipulate financial statement. I expect to make some useful suggestions by this failure of Enron.