Ambassador of Assurance
Business Partner, Corporate Governance and Finance Senior Executive with over 20 years experience at Board level and internationally gained in Deloitte, blue chip and PE backed companies.
Welcome to my blog
“Welcome to my blog. The idea of this blog started when I was looking for a forum where I could share all my views and opinions about the ever-increasing and never-ending shocking events in the corporate and business world that makes us question the reliance placed in the information received.
This blog aims to welcome discussions, opinions, points of view, suggestions, recommendations in an environment where a spade is called a spade.
Through my experience I have helped highlight significant issues and implement solutions to mitigate their impact. This experience has constantly demonstrated that hiding the issue under the carpet is the worst decision. Once there it can only grow until it explodes in front of everybody’s noses.
Is there a solution to this? Yes, there is, at least, a solution for every single issue. It may require some effort but there is a solution.”
Ten biggest banks scandals have costed £53bn in fines, FT 11 April 2016. Apparently Internal Audit and Compliance teams did not see any of the issues that caused the scandals, neither the financial crisis…Can you imagine the VW Internal Audit team being told that they had style of writing issues as soon as they raised the emissions problem? The way some companies reward an internal auditor or compliance person highlighting serious issues is by campaigning against, raising negative feedback against and putting him/her under huge stress.read more
Is it really so difficult for senior executives to know what is going on? What is the escalation process? Is there any? If so, how does it work?
There are many cases of wrongdoings in the business and the corporate world.
Internal Audit and Compliance departments are at the forefront of the speak-up and escalation lines and yet, when looking at the scandals, it seems these lines are not very busy.
The Economist 5 March, VW former boss had been handed a memo informing about “inconsistencies in emissions from its diesel cars.” “..it is not known whether he read it as it was included in a batch of extensive weekend mail”
Does anybody know how many people were involved in writing that memo? Does anybody know how many phone calls and meetings there were where the memo was discussed?
…these executives were still paid their high salaries and bonuses,…because they did not know!read more