It sacked David Welch after he raised concerns over the company’s alleged practices of insider trading, faulty internal controls and financial reporting irregularities.
His lawyers pleaded, using Sarbanes-Oxley’s whistle-blower protections, in what is believed is the first case where the law – enacted two years ago to clean up public company accounting – has been used successfully.
Welch was sacked after bringing a lawyer into a company-led investigation of his concerns. The judge agreed with Welch that the company wanted him sacked and used an alleged ‘non-compliance’ in an internal audit (he insisted on legal representation) as a pretext for the dismissal.
Aside from ordering the company to rehire Welch, he ordered it to provide him with back pay and to cover his legal fees. He has yet to rule on damages.
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