|
|
26 Sep 2008
The CBI chief has warned the UK's policymakers against adopting US-style accounting regulations in the wake of the credit crises.
Speaking at a business leaders' dinner at Cambridge's Queens' College, Richard Lambert admitted that the business lobby group underestimated the scale of the credit crunch. However he added that snap regulation must be avoided. He said the situation called for a calm look at regulation in the financial markets, the Telegraph reported.
'The political temptation to clean up the City must be tempered by the experience of Sarbanes-Oxley and the knowledge that recovering markets need help, not handicap,' Lambert said.
The strict rules which were introduced after the collapse of Enron and WorldCom were considered too burdensome and resulted in several companies delisting from the US.
Further reading:
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment