New voluntary code for businesses

IRISH business may rebuild international credibility with a combined voluntary code of corporate governance practice for private companies and state bodies.

Developed by the National Standards Authority of Ireland (NSAI) and the Institute of Directors in Ireland (IoD), the Swift 3000 certification will be judged by a pool of independent assessors who cannot audit any company with which they have had ties for 24 months either side of the assessment.

Industry sources suggest that new faces will dominate the pool of assessors in a bid to create a clean break with Ireland’s damaged recent past.