MANAGEMENT IS IN DESPERATE NEED OF AN OVERHAUL

摘要

Even experts sometimes miss what is staring them in the face. During a recent Chartered Institute of Internal Auditors (IIA) dinner, I sat between two members of the team investigating why the Royal Bank of Scotland (RBS) failed. They were both highly qualified and experienced auditors. But when it came to diagnosing the problem, they were none the wiser. One wondered why, even after a thorough investigation, the reasons for the banks failure remained shrouded in mystery. There was no mystery to me. I could answer why RBS collapsed in a single word: greed. Or two words: poor ethics. Or three: bad management behaviour.