BusinessCompany NewsLloyds vote could scupper accounting reform

Lloyds vote could scupper accounting reform

Improvements to the accounting procedures at Lloyds of London could be scuppered if members of the insurance market have voted en bloc against a raft of reforms.

Link: US attacks still loom over Lloyds

The results are due to be announced today but yesterday the market’s chairman Sam Riley called on members to back the reforms.

There has been some dissent among members because of intense concern over some of the corporate governance arrangements included in the reforms.

However if members chose to vote against because of the corporate governance fears then all changes, including those affecting accounting, would be brought to a halt.

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