CIMA chief defends Higgs' report
Charles Tilley, chief executive of the Chartered Institute of Management Accountants, has come to the defence of the Higgs' report, calling it a 'progressive step'.
Link: Fullager’s comments
In a letter written to the FT he offered a stinging rebuke to comments made by Paul G. Fullager, a senior non-exec at two Techmark 100 companies, who, earlier this week, claimed the recommendations would drain boardroom talent in the UK and damage shareholder wealth.
But Tilley denied this was the case, saying that the ‘regular review of UK governance’ was the reason standards had been consistently improved, while maintaining their ‘principles basis’.
‘These reviews mean that the UK now has a governance structure that is the envy of the world and has so far avoided the big scandals we have seen recently in the US,’ he added.