BusinessCompany NewsCompany lawyers turn against Higgs

Company lawyers turn against Higgs

The heavily criticised Higgs report on corporate governance has come under fresh attack from company lawyers who have labelled it a 'knee-jerk response'.

Link: Higgs’ special report

More than half of lawyers heading up legal departments at UK companies thought Higgs was a ‘knee-jerk reaction to the Enron accounting scandal’, a survey found.

Worryingly, one-in-three said they believed the corporate governance recommendations would actually make things worse.

The survey, carried out by Legal Director magazine found that, found a generally pessimistic outlook on corporate governance, with four-in-five lawyers saying abuses would happen, regardless of regulations, because of the ‘nature of business’.

On a brighter note, nearly two-thirds of lawyers surveyed said they believed corporate governance was better in the UK than in the US, while 47% believe a major scandal was far more likely to happen across the pond than in the UK.

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