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Whistleblowing and the Audit Committee
Having a trustworthy whistleblowing process in place has become increasingly important as more and more high profile whistleblowers come to prominence in the media.
Having a trustworthy whistleblowing process in place has become increasingly important as more and more high profile whistleblowers come to prominence in the media. Oxfam is the most recent well known organisation to become enveloped in a scandal and a whistleblower who identified the issue has alleged that the problems could have been addressed some time ago.
The UK Corporate Governance Code, updated in April 2016, states that is the duty of the Audit Committee to ‘review arrangements by which staff of the company may, in confidence, raise concerns about possible improprieties in matters of financial reporting or other matters’. On 7 February, the Corporate Governance Community held its first webinar of 2018 on the subject of whistleblowing and fraud. Our speakers were Ian Foxley, a whistleblower, who recently appeared on the BBC programme House of Saud and Dino Bossi from Addveritas. We opened the webinar asking: