Speaking to the BBC’s World Business Report, Hardwick Simmons said: ‘I don’t think more reforms are needed – I think everyone knows full well what their responsibilities are.’
Instead Simmons blamed the demise of what was once one of America’s most successful company’s on a failure in Enron’s corporate structures.
‘Enron knew full well that it should be transparent…it was really a failure of character in Enron’s corporate office.’
Simmons comments fly in the face of overwhelming investor calls for Wall Street analysts, auditors and credit rating agencies to change the way they operate given the fact that none of them picked up on problems at Enron before its sudden collapse.
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