Are you rearranging deckchairs on the Titanic? Taking corporate risk management seriously

  I travelled from Tashkent to Moscow on an Aeroflot Ilyushin 86 in the early 1980s. The seats were basic metal framed deckchairs, screwed to the floor1. Why don’t airlines nowadays use simple deckchairs on airplanes, instead of very heavy, crash-resistant ones? The fuel saving alone would be enormous and the temptation, especially to low … Continue reading Are you rearranging deckchairs on the Titanic? Taking corporate risk management seriously

The Brydon Report – When looking backward should be the way forward

The much-awaited Brydon Report was published just before Christmas. It didn’t get much publicity, as the festive season proved more alluring than yet another long report and profusion of recommendations on corporate governance. In a sense, this was a pity as this ambitious report contained over 60 wide-ranging recommendations that would have considerable impact on … Continue reading The Brydon Report – When looking backward should be the way forward

Response to consultation on Market Study on Statutory Audit Services

I am responding to the request from the Government for views on the recommendations by the Competition and Markets Authority on the market for Statutory Audit Services. This submission is made in a purely personal capacity. Over the last 25 years, I have been chairman or director of ten different companies, from small privately owned … Continue reading Response to consultation on Market Study on Statutory Audit Services

The audit punch-bag: Where is the voice of industry?

Storm clouds are gathering over the audit market. Government, politicians, media and regulators are all queueing up to condemn companies and auditors over the few, but well-publicised, failures of certain companies. Lack of knowledge about the audit process is no bar to these opinion-formers. Meanwhile industry bodies are supine in defending business and signally failing … Continue reading The audit punch-bag: Where is the voice of industry?