CIMA has criticised Sir.
| Position | First in ... |
David Walker's review of corporate governance in the banking industry, arguing that, while sharehotder engagement is needed, Walker is unrealistic about what can be achieved at a reasonable cost.
CIMAs formal response registered disappointment that Walker focused largely on issues already covered by the Financial Reporting Council'-s Combined Code. It called for real examples to promote good governance and show organisations how to abide by the spirit of the code.
The institute, which advocates a principles-based approach to governance, expressed concern that some of Walker's recommendations were not appropriate for the private sector in general. It also pointed out that succession...
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