KPMG ‘not surprised’ by Skilling sentence

KPMG ‘not surprised’ by Skilling sentence

Firm says US has given longer sentences for corporate fraud

Big Four firm KPMG says it is not surprised by the 24-year and five month
sentence handed down to former Enron CEO
Jeffrey Skilling
for his part in the accounting scandal that resulted in the energy company
collapsing in 2001.

But it did not believe that lengthy sentences would eradicate the problem.

Adam Bates, global chairman of
KPMG Forensic, said:
‘Long sentences will never eradicate the problem, not least because many
corporate fraudsters seem to believe that they will never get caught.’

‘What is more important is to tackle the roots of fraud. Companies need to
ensure they have rigorous processes in place, at the highest level, so that
fraudsters cannot create micro-environments for themselves in which to operate,’
Bates added.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource