surely the relevant "summary of summary of summaries" would have consisted of the phrase "Other Creditors" and a number reflecting the amount of debt which was guaranteed by Enron, on the balance sheet? Wasn't it a failure to provide this simple one line summary exactly what landed Jeffrey Skilling in jail?

You *can* legislate the pertinent information - the UK's Companies Act simply requires that the accounts provide "a true and fair view" and our ASB simply states that the reporting of transactions follow the economic substance rather than the legal form. If we had a functional enforcement mechanism it would work like a dream.