Academic journal article Manager

Interim Directors the Answer

Academic journal article Manager

Interim Directors the Answer

Article excerpt

TOUGHER new audit committees designed to prevent Enron style accounting scandals happening in the UK could become hamstrung due to a lack of financial directors to sit on them, according to interim management specialists Executives Online. The new corporate governance code, launched by the Financial Reporting Council (FRC), states that at least one member of the audit committee must now have recent and relevant financial experience. All committee members must be non-executive directors. Executives Online says that experienced financial directors are the only realistic candidates for these enhanced roles. However, many businesses are finding it difficult to recruit FDs willing to take on separate audit committee responsibilities in addition to their own full-time jobs. Norrie Johnston, Managing Director of Executives Online, says interim directors could be the answer. …

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