Company law report - Wrongdoing must be reported

IN his annual report published yesterday, Paul Appleby, the Director of the Office of Corporate Enforcement (ODCE), emphasised the need to improve the overall standard of corporate conduct.

To that end he has encouraged people — business people and ordinary citizens — to report company wrongdoing, so that his office can bring to account those who disregard their obligations under company law.

The report ranged over a wide area of the duties of his office. The most common violation was in relation to company directors and others using company assets in excess of the legal limits.