ALISTAIR DARLING has warned senior members of the UK finance profession that good long-term corporate governance will be vital following the result of the UK’s EU referendum.
The former chancellor highlighted that the uncertain economic and trading conditions could last for several years and that businesses needed to be well prepared for potential exposure to new risks, writes Financial Director sister title HRD Connect.
Delivering his keynote speech at the CFO Agenda, hosted by Financial Director, Lord Darling noted: “Quite frankly I think you are going to need some good corporate governance over the next few years.”
He added: “This is a time when if problems are going to start re-emerging it’s going to be the when the economy slows down.
“And that’s why, the best leadership that boards can do is ensure their own organisations are properly run and they are alive to the issues to which they may becoming exposed.
“I think it’s terribly important that every organisation, especially when you’re under stress and strain, that all organisations are alive to the risks because the one thing that will add to the general fear that everything’s not right, will be when we start seeing failures in banks across Europe or companies.”
Increase governance without stifling competitiveness; enforce already-in-place rules; were the key messages from the business community after the government released a green paper on governance
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