I’m a founder partner of Independent Audit Limited, a specialist London-based firm which works with corporates and investors to make corporate governance more value-creating and less of an overhead. We do things like board and committee effectiveness evaluations and advise on the principal control mechanisms such as audit and risk management. Before founding IAL about six years ago, I was a financial services audit partner in Price Waterhouse. I’ve also been a non-executive director and chaired the audit committee of a foreign-owned bank, so I know what it’s like to have to take my own advice.
I have a keen interest in how behaviours are driven by explicit and implicit incentives, and the financial sector is a fertile source of examples of the Law of Unintended Consequences. I also believe that the UK’s system of corporate governance would work better if investors took a more active and thoughtful approach to how companies run themselves, so I’m very pleased that senior staff from major investors are taking an initiative like this.