First Reference Talks

Discussions on Human Resources, Employment Law, Payroll and Internal Controls

Finance and Accounting

By | 5 Minutes Read

Should directors consider creditors’ interests when a corporation is near insolvency?

In a recent landmark case, the United Kingdom Supreme Court held in BTI 2014 LLC v. Sequana SA & Ors, [2022] UKSC 25 that directors of a corporation owe a fiduciary duty to creditors when a corporation is at or near insolvency.

By | 3 Minutes Read

The risky internal auditor

Earlier this week, I discussed the topic of the risky risk officer. What is the ideal risk attitude to have in a risk practitioner? Today, I want to shift to the risk attitude of the internal auditor. Do we want an internal auditor that is so risk averse they won’t spend $5 on a lottery ticket with a 10% chance of winning $100,000?

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