This has been quite a decade for global corporate leaders, volatile not only in terms of their actual fortunes, but even more so with respect to the shifting perceptions of society. When the decade began, large corporations and those at their helm were at the peak of their power, flush with riches delivered by the dotcom boom in the US economy as well as the vast opportunities created by easier...

From next year, on swearing allegiance to the Queen, all members of Britain’s House of Lords will be required to sign a written commitment to honesty and integrity. Unexceptionable principles, one might say. But, until recently, it was assumed that persons appointed to advise the sovereign were already of sufficient honesty and integrity to do so. They were assumed to be recruited from groups with internalised codes of honour. No...

One year on from the aborted Satyam-Maytas deal that eventually paved the way for Ramalinga Raju’s sensational confession of fraud some weeks later, the government finally seems to be getting serious about corporate governance reform. The revelation of accounting fraud at Satyam unfortunately distracted attention from more fundamental issues relating to good corporate governance, particularly the role of company boards. But now, the government is set to release a new...

Corruption kills development and is one of the biggest obstacles to achieving the globally agreed targets to reduce poverty, hunger and other social ills by 2015, also known as the Millennium Development Goals (MDGs), United Nations officials warned today. “When public money is stolen for private gain, it means fewer resources to build schools, hospitals, roads and water treatment facilities. When foreign aid is diverted into private bank accounts, major...

A survey reveals that desperate times have led to illegal measures THE recession has taken its toll on morals as well as profits. PricewaterhouseCoopers (PwC), a consulting and accounting firm, has conducted a biennial survey of economic crime for the past ten years. The most recent, published on November 19th, is not only the most thorough, based on over 3,000 responses from firms in 54 countries. In many ways it is...