In another day of testimony in the trial of former CEOs Ken Lay and Jeff
Skilling, a former senior executive at the energy firm has testified that hiding
losses was ‘standard operating procedure’, the BBC reported.
‘At Enron, we tended to be pretty fast and loose with its rules,’ David
Delainey testified before a Houston Court.
Earlier in the week, Wesley Colwell, a former chief accountant at a large
Enron unit, testified that he moved $14m from one account to another so that the
firm could beat Wall Street profit targets.
Both Lay and Skilling deny they presided over a multi-billion dollar fraud at
the Houston-based business.
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