TakingStock – Vision of economic stability seated in Brazil

Michael Groom, the enterprising president of the ICAEW, has launched on to the international arena the concept of the ‘five-legged stool of trust’.

This wonderful image is based on the interlinking themes of governance, accounting, audit, ethics and enforcement.

TS is sure that Groom’s predecessor Graham Ward had a three legged variety of this particularly useful piece of conceptual furniture, but can’t fathom where the extra two legs have come from.

Of course, enthusiastic structural engineers among you will know that a tripod is infinitely more stable than a five-legged variety.

However, as Groom was launching the concept in Brazil – that model of economic stability – it probably makes no difference in the long run.

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