Enron Whistleblower and WikiLeaks
This is the headline in Accounting Today’s Daily Edition:
Enron Whistleblower Would Go to WikiLeaks Now
I attended this New York State Society CPAs briefing on Friday January 28 regarding the whistleblower provisions of the Dodd Frank reform bill.
This billl and topic is fraught with issues:
• The regulations are very complex and not even complete yet.
• There are numerous exceptions.
• The whistleblower will need an attorney.
• The whistleblower is likely to be unable to find a comparable job after.
One item not mentioned in this article as a possible solution was posed my Ms. Watkins,formerly from Enron. That was changing how corporate incentive compensation works. There has been a huge incentive for top corporate execs to keep their stock prices high. In many cases, they stood to gain and did gain tens of millions of dollars of additional compensation. I am generally not in favor of even more regulation, but this something to think about.