In-house lawyers fear Enron disaster in UK
A poll of company legal departments shows that the overwhelming feeling is that an Enron-style corporate disaster is possible in the UK.
A poll of company legal departments shows that the overwhelming feeling is that an Enron-style corporate disaster is possible in the UK.
The survey, by Legal Director , in association with City law firm Halliwell Landau, of 103 heads of in-house legal departments revealed as many as two-thirds feared a disaster on such a scale could indeed happen in the UK. This despite revealing that almost 70% now complied with the Turnbull code of corporate governance.
But only 15% said such an event was ‘likely’.
These views are in line with comments made by FSA chairman Howard Davies in February, when he warned that a ‘large and unpredicted corporate failure’ in the UK was possible.
So far, only Clara Furse, head of the London Stock Exchange has been the only high-profile British business representative to come out publicly and say Enron could not happen in Britain.
AT the IoD convention last month she said she could not envisage Enron happening in the UK, with its strict principles-based disclosure rules.
The numbers you crunch tell a story. Your expertis...
22yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article