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Accountants beware – May’s after the bad ones!

07 October 2016

Accountants got a special mention in PM Theresa May’s conference speech recently. But it might not be the mention they were hoping for!

She said: “If you are a tax-dodger, we’re coming after you. If you’re an accountant, a financial adviser or middleman who helps people to avoid what they woe to society, we’re coming after you too.”

May also believes that where markets are dysfunctional the government should be prepared to intervene, putting the energy firms and broadband providers on notice.

All this has not gone down well with everyone, especially those who believe interventionism is not good for markets.

But, she got support from the Financial Reporting Council! It said that there needs to be a change in the relationship between business and society. CEO Stephen Haddrill said it shares the objective of wider stakeholder engagement by companies and are considering how corporate governance principles can best meet the demands of all stakeholders or be amended to do so. He went on: ‘Tackling important issues such as diversity in boardroom representation and executive pay is in the interests of society and business.”

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