Read this story from the Victoria Times-Colonist on more revelations from the BC Auditor General on Hydro’s shady accounting practices – this time involving hundreds of thousands in executive bonuses paid on non-existent profits.

“B.C. Hydro executives have taken home hundreds of thousands of
dollars in bonuses based on profits the province’s auditor general says
didn’t really exist. Senior Hydro officials have their performance bonuses determined in part by the corporation’s ability to turn a profit. But
auditor general John Doyle’s scathing report on the Crown corporation’s
finances, released Friday, showed Hydro actually lost money recently,
and managed to show a profit only by deferring hundreds of millions of
dollars in expenses to the future using debatable accounting methods. Nonetheless, the corporation paid out sizable incentive-plan bonuses to its CEO, vice-presidents and chief financial officer.” (Nov. 1, 2011)

Read article: http://www.timescolonist.com/business/Hydro+paid+bonuses+existent+profit/5635771/story.html