ICI has never been a company which might be suspected of playing fast and loose with accounting standards. Now it seems the group has taken on a new viciousness, perhaps in a bid to dispel worries that accounting standards might be caught up in the revolution being wrought by new chief executive Charles Miller Smith.
Miller Smith recently described FD, Alan Spall, as having a “Genghis Khan approach to accounting”. It can only mean that Spall rampages through the finance function putting to the sword anybody suspected of less-than-pure thoughts.
That doesn’t square with Spall’s comment at ICI’s last results presentation.
But even Genghis Khan must have had doubts sometimes.