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We’ve recently activated a feedback mechanism so now you can
tell us your thoughts and opinions on the issues raised by feature articles in
Financial Director published on this website.

Simply click on the “Have your say” button at the end of any article and let
us know what you think. Our editors will post your comments as soon as possible.
(Please note that comments on ‘news’ stories are moderated and posted by our
colleagues on Accountancy Age.)

Newly published reader comments:

In response to:
planning: Making allowances

Recent CBI survey confirms this
The most shocking statistic to come out of the survey is that less than 10% of
companies were fully satisfied with the cost of claiming R&D tax credits.
See here for more details

Micah Levy


In response to:
column: Vulture culture – today’s FDs in a climate of uncertainty

The FD at the centre
Good article, Peter. FDs in all types of businesses are facing challenges we
have never encountered before, even if we were working in the ’90s recession.
Our stamina, professionalism and ethics are being tested to the limit.
Steve Lloyd, www.cicero

And a selection of reader comments published

In response to:
letter: The snows of killjoy man heroes

Well said!
Creativity is now even more essential to business success, and it needs the
right conditions to flourish. Gluing yourself to a PC/PDA/mobile 24/7 is not a
conducive environment. Chucking snowballs and having a laugh for an hour or two
Roll on the next snow-in.
– Bridget Grenville-Cleave


In response to:
Strategy: Careless whisper – the dangers of sloppy data security

Information is the golden thread that binds together all forms of

As your article rightly points out, senior staff responsible for data security
are increasingly reporting outside IT. This is almost certainly being driven by
the fact that risk management consists of multiple categories: operational risk,
financial risk, reputation risk, market risk and strategic risk. Related to t
hese categories are various forms of business value – all the forms of value
that are necessary for a business’ long-term success. Information is the golden
thread that binds together the management of all these forms of risk.
Information risk management therefore plays a crucial role in every area of risk
management. By definition, information risk management is a vital part of the
constant effort needed to ensure that business value is created rather than
– Tim Kipps – Director – ArmstrongAdams


In response to:
governance: Wake-up call – risk transparency needs to be ‘central’

Robert is right…but could go further
The picture Robert portrays is spot on. Risk management needs to become a
central part of corporate culture and be taken seriously by Boards. However I’d
extend the scope from risk alone to ‘risk-reward’.

Organisations need to not only assess their opportunities for potential risks
but see risks as a startpoint for innovation; and demonstrable, effective risk
management as a source of competitive advantage in bids and an element of
improving credit ratings and minimising insurance premiums.

CROs and Risk Managers need support to be able to deliver this. Organisations
must decide on their ‘risk appetite’ and evolve their cultures accordingly. For
some organisations it may be the time to take more – but better qualified –
risk, if the information and evidence is there to support these decisions. Risk
professionals need the support of an enterprise-wide risk management system and
framework, which will provide the supporting information for rigorous scrutiny
and audit – which is only likely to increase both from inside and outside the

Siloed spreadsheet solutions just won’t cut it any more as they are prone to
error, lack security and auditability – but most importantly make an
enterprise-wide and beyond view of risks and opportunities almost impossible to
achieve. Enterprise-wide software can act as a catalyst that will help enable
and embed the needed cultural changes that will take risk management from the
periphery to the heart of the business.
– Peter Robertshaw – Strategic Thought Group


In response to:
Pre-packs opened to scrutiny

Pre-packs are good for creditors
Certainly quicker and often less costly than trading in administration while a
business sale is negotiated, pre-packs also save many more jobs.
Transparency is a key issue, but major creditors should be consulted where
feasible in a pre-pack (and of course there is often also no time for
consultation prior to an ordinary administration business sale).

The often overlooked distinction between the underlying insolvency causing
loss to creditors and the pre-pack (or any other insolvency procedure)
maximising the return to creditors, is one of a number of points in this debate
discussed at more length at

Don’t forget that administration (pre-pack or otherwise) is a collective
procedure where the insolvency practitioner acts in the interests of the
creditors as a whole (and they fix his remuneration) and that individual
creditors acting to stop supplying may not be in the interests of all creditors.

– Chris Laughton

In response to:
New Deal


You forgot manufacturing….
Dennis, manufacturing used to be part of our engine of prosperity. It may even
be the mysterious answer to the problem you pose. With a low pound, domest
ically produced goods are competative again, and exports more viable. Imports
are expensive. We have a window of opportunity here….
– Frank Salmon


In response to:
letter: Fear of flying

Required Reading
What a superb editor’s letter.
It should be required reading by every elected representative (at all levels) in
the UK, together with a whole range of business risk takers (even if they don’t
recognise themselves as such). The points made are equally relevant about many
top teams in most, if not all, sectors and a recognition of their
responsibilities to others are wider than self-preservation.
– Brian Berry

Banker Pilots
Every crew member believes that the most important ‘backside’ on board any
aeroplane belongs to themselves and therefore don’t knowingly do anything to
jepoardise themselves or their passengers. What a pity banker’s did not have the
same sense of responsibility. They should all be made to share the risk.
– Tony Ryan

Response to Fear of flying
As a trained professional pilot, that is not currently engaged as a pilot, but
in the retail motor sector, this article is probably the most sensible and
balanced that I have read on the topic so far, including some very well written
articles from experienced type rated Airbus A320 Pilots. Mr Sawers is to be
congratulated on this superb article.
– Colin Corne