‘Not missiles, but microbes’ – Why didn’t we see it coming?

Famously, in 2008, the Queen asked economists why no-one saw the great financial crisis coming, not least as they were giving her a full retrospective inquest into why it happened1. She might well ask the same question again now about the COVID-19 pandemic. Of course, some commentators did predict the likelihood of a similar pandemic. … Continue reading ‘Not missiles, but microbes’ – Why didn’t we see it coming?

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?

Motherhood & apple pie – the latest corporate governance regulations for private companies

The FRC has set out new proposals for more corporate governance regulation (the Wates Report) for large private companies. This is my response to the consultation.       Summary High quality regulation should focus on outcomes and provide evidence to support new rules and principles. Both the government and the FRC seem to be … Continue reading Motherhood & apple pie – the latest corporate governance regulations for private companies