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.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements