PracticeConsultingBusiness – Call for pay-offs to whistle-blowers

Business - Call for pay-offs to whistle-blowers

Pressure is mounting to raise the z45,100 ceiling on compensation paid to whistle-blowers who lose their jobs.

Further backing for Richard Shepherd’s private members bill, which went to its committee stage yesterday, was due to come from the CBI and TUC in a joint statement this week, calling for unlimited compensation.

Government plans to limit compensation payouts has angered business and the unions, who argued low payouts would be a disincentive to employees to report corruption and fraud.

The government fears high awards might create a temptation for employees to look for ‘whistles to blow’.

Tony Wedgwood, chairman of the English ICA’s working party on whistle-blowing, said risks taken by whistle-blowers were high.

‘An auditor’s duty is to his client’s shareholders, not to his client management,’ said Wedgwood. ‘A climate in which the client’s staff feel free to communicate their concerns can only assist the process.’

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer