The Institute of Directors in Ireland (IoD) welcomes the Government's focus on tackling corruption and white collar crime through a package of measures to be published today, which includes the decision to establish the Office of the Director of Corporate Enforcement as an independent agency.
Commenting, Maura Quinn, Chief Executive of the Institute of Directors in Ireland, said:
"The decision to put the ODCE on a statutory and independent footing to enforce company law is to be welcomed. However, it is imperative that the agency is appropriately structured and given sufficient resources to effectively deliver on its objectives.”
In a recent survey with IoD members*, 74% of respondents said that non-compliance with regulatory / governance requirements is a top concern for their board while 1 in 10 (10%) respondents claimed that bribery and corruption is a moderate risk facing companies in Ireland.
*Online survey conducted between 7th - 18th September 2017 with a sample of 250 members of the Institute of Directors in Ireland. Full results to be published as part of the IoD Report, Leadership Challenges in an Uncertain Age, w/c 6th November 2017.