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02 Dec 2010
ROYAL BANK OF SCOTLAND executives were foolish but not fraudulent in the run up to the bank's near-collapse, an investigation by the Financial Services Authority (FSA) aided by Big Four firm PwC has found.
RBS executives made "a series of bad decisions" but this did not amount to "fraud or dishonest activity by RBS senior individuals" the FSA announced today.
Further reading
"The review confirmed that RBS made a series of bad decisions in the years immediately before the financial crisis, most significantly the acquisition of ABN AMRO and the decision to aggressively expand its investment banking business," the FSA said in a statement.
"However, the review concluded that these bad decisions were not the result of a lack of integrity by any individual and we did not identify any instances of fraud or dishonest activity by RBS senior individuals or a failure of governance on the part of the Board."
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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.
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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. 
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