Audit firms are very good with such things like Good Corporate governance but how often are such codes of practice carried out ? Don't they as management or account auditors for such organizations already implement so many before?
Usually the codes will consist of a series of figures and standards for good public relation but can they really be carried out consistently as part of daily work routines of charity staff.
For example the codes may now say chairman must declare interests but how to ensure he will declare such interests with staff under him being controlled and frightened to do so and the regulatory authority not being able to come down and check on all the purchases and contracts.
So at the end it will be equal to hot air look-good presentations etc like before.
The problem as always will be look-good presentations to allow auditors to make come fees without ensuring there will be truly accountability and transparency in real work practices.
It is only when the codes are translated and subsumed as an integrated part of daily work routines of staff that such correspondence of words and intentions to actions is fulflled with consistency and practices.
No wonder after the Hotel New World collapse all the codes of practices and structural computations were not carried out in the Nicol Highway shoring works which led to another serious collapse.
At the very most there will be another inquiry and more people will be punished to protect the regulatory authorities with another round of reactive look-good corporate governance and hot air.
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