mi2g Athenaeum Event - The Question of Trust
news release
London, UK - 17 July 2002, 17:00 GMT - mi2g will be holding
a major event tomorrow evening at The Athenaeum, London, to debate the issue
of trust and its importance at a personal and business level in our interconnected
world in the light of the recent Enron and WorldCom scandals.
The main purpose
of the evening is to reach an understanding of the causes of the practices
underlying the major frauds, the implications of loss of trust for stakeholders,
the analogies of trust and security in the physical and digital worlds and
the trust engendering possibilities offered by modern information and communication
technologies.
The keynote speaker, Charles
Tilley, Chief Executive of the Chartered Institute of Management Accountants
(CIMA), will be speaking on the concept of capitalism
in a post-Enron world.
DK Matai, Chairman and CEO of mi2g, will be speaking on the issue
of trust
in computing platforms.
Dr Brian
Collins, Visiting Professor at Southampton University, will be speaking
on the subject of trust
as the ‘flip side’ of risk.
Over 80 senior executives from banking, insurance, law firms, government
and computing houses will be attending.
[ENDS]
Notes to Editors
1. For additional information and advance copies of the speeches (embargoed
until 6:00pm 18th July) please contact the mi2g Intelligence Unit:
Tel: +44 (0) 20 7924 3010 Fax: +44 (0) 20 7924 3310 eMail: intelligence.unit@mi2g.com
2. Chartered Institute of Management Accountants (CIMA) News Release from
17 July 2002:
CIMA Chief Executive to issue stark warning
to Senior City Executives tomorrow
CIMA news release
Unless companies can demonstrate ethical behaviour that governs and informs
everyday business decisions, the trust of employees, customers, business partners
and investors will be eroded. This is the warning that Charles Tilley, chief
executive of CIMA will give senior bankers, insurers, lawyers and Government
officials at the
mi2g Intelligence Unit meeting on ‘The Question of Trust’
at the Athenaeum in Pall Mall on 18 July.
“Trust depends on transparency and transparency
is becoming a matter of survival rather than choice,” Mr Tilley
will argue. Without a culture of transparency in reporting by public companies,
investor confidence in management capability will remain deflated and inconsistent.
While CIMA fully supports and is contributing to the development of the mandatory
Operating and Financial Review (OFR) proposed by the Company Law Review as
the new reporting model, transparency has to be underpinned by accountability
and integrity.
Speaking on improving the effectiveness of Boards, Charles Tilley will say
that “achieving accountability and integrity requires
the sub-committees of a Board to do their job properly and for independent
directors to have more power to counterbalance the power and influence of
any dominant directors on the Board. In addition to recommending a code of
best practice for non-executive directors, which would set out their key responsibilities,
CIMA is urging companies to give their audit committees an extended role to
include overseeing corporate governance practices and risk management frameworks
and to rename it to reflect its wider role.’
In conclusion he will argue: “It is now a time
for all companies to enhance their reporting on the business risks and intangible
assets that drive corporate value creation. It is not enough to discuss simply
the systems of internal control and risk management in your business. Any
statements that fall short of disclosing and discussing actual risks can be
meaningless. This is an opportunity for directors to demonstrate their understanding
of the business and where it differentiates itself from competitors and adds
value to customers”.
The Chairman and CEO of mi2g, DK Matai, said:
“We are delighted to have Charles Tilley to
address this select audience of over eighty senior executives. This is a burning
topic and the views of CIMA have to be paid heed to.”
[ENDS]
Notes to Editors
1. As one of the world’s leading accounting bodies CIMA (The Chartered Institute
of Management Accountants) has 10 offices worldwide and supports over 133,000
members and students in 150 countries. CIMA is the only institute whose sole
focus is on the training and qualifying of accountants in business, across
public and private sectors. Founded on the collective knowledge and experience
of a professional body entirely focused on management accounting, the CIMA
perspective is directed towards all the key issues faced by Finance Directors
and their staff across all business sectors and sizes. This strong business
focus is grounded in the CIMA syllabus.
2. mi2g pioneers practices and techniques for online wealth creation
and protection which helps financial services companies deliver competitive
advantage through information intelligence development. www.mi2g.com
Related Articles
