Seanad debates

Wednesday, 28 May 2003

Companies (Auditing and Accounting) Bill 2003: Committee Stage (Resumed).

 

Structures directors have put in place might not be working, an issue Members raised. All directors should have to prove is that they have made all reasonable efforts – no more than one would expect of a director. That is not to say they should turn stones in every corner of the company but they should put in place structures in order that they can satisfy themselves and be assured by company senior or middle management that they are working. A director could then say that, as far as he or she could reasonably attest, the company was compliant. That was all that was ever intended. It was always intended to be a subjective judgment. I would not object to such an approach if it could be done.

Comments

No comments

Log in or join to post a public comment.