Walsh, who resigned from the conglomerate in February, failed to reveal a $20m payment he received from the company for helping CEO Dennis Kozlowski with the failed takeover of finance group CIT.
Half of the payment went to charity but Walsh has greed to pay back the full sum and a fine of $2.5m.
It was news of the payment to Walsh that began the downfall of Kozlowski.
Kozlowski and Tyco’s chief financial officer Mark Swartz have been charged with corruption and both have pleaded not guilty.
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements
Charles Tilley's departure from CIMA leaves the accounting world quieter, but his institute with an exciting foundation