- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Carillion collapse illustrates once again that compliance with the U.K. corporate governance code does nothing to prevent bad actors from making bad decisions.
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In an almost carbon copy of the Carillion collapse, peer contracting firm Interserve went into administration on Friday due to a majority of its shareholders rebelling against a debt cancellation deal that would have seen their investment at even lower levels than the deal that was finally agreed to.
The latest recommendation to break up the Big Four accountancy firms from the two parliamentary committees investigating the collapse of construction firm Carillion is hardly a new idea, but is it possible?
Attacks on the Financial Reporting Council are growing at the same time the U.K. regulator has been granted sweeping new powers to do a job it has been accused of not doing very well.
