Speaking on BBC Radio 4’s The Today Programme, Watkins, a qualified accountant and former vice president of corporate development at Enron, said although the country’s top prosecutors were handling the case, she was disappointed that two years on neither Jeffery Skilling nor Kenneth Lay, both former CEOs, have not yet been indicted.
She described Enron as having a ‘fig leaf of propriety about its fraudulent structures’ with former auditors Andersen and other law firms signing everything off making it much harder to show criminal intent.
‘Until execs start going to prison, you will still have companies trying to get away with criminal activity. You need to see execs in prison to changes behavior,’ Watkins added.
Does Darwin's theory apply to taxation? Colin ponders...
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