No, it would not have exposed the fiscal vulnerability of Enron, the problems were well hidden due to the government regulations which forced separate accounting of each division. One division might show a profit, but two might be showing losses and the overall net was never revealed.
Yes, you're right. All of the divisions and "associated" companies/utilities etc. have to be accounted for with the FERC. Fascinating.
But the question is whether the FERC had good info. The whole problem with ENRON was this fishy accounting stuff. Would it have been clear from the finance reports that ENROn was in trouble?