Firms face ‘vicious’ accountability rules

MOVES to make companies more accountable in the post Enron and WorldCom environment are “quite vicious” in their implications, a leading business analyst said yesterday.

Kevin McConnell, head of research at Bloxham Stockbrokers told a conference on the accountant in business that chief executives and chief financial officers are now personally liable for the company figures produced in the public domain.

Such a move has attempted to introduce a “whole new ethic” in how businesses treat investors, he said.