Letter to The Times, published 14 February 2018
Carillion and Oxfam are just the current badly led organisations which will be publicly investigated. The final report will conclude that the organisation was badly lacking in effective corporate governance. Then nothing will be done. A key reason for this is that there is no national organisation charged with the responsibility for taking appropriate action. Too many fragmented agencies can decide that it is not in their remit.
We need a major rethink of the effectiveness of the direction of our organisations in the private, public and charity sectors. I suggest creating a national Standing Commission on Corporate Governance, backed by a Governmental Select Committee focused only on corporate governance effectiveness. At the moment we have such nonsense as the Financial Reporting Council investigating Carillion when they can only debar accountants not directors.
Wednesday 14 February 2018