Boards have no excuse for ignorance – Standard Life’s Grimstone

Need for strong boards, risk culture and internal audit emphasised at IIA conference

Boardroom table
Boards had to step up, said Standard Life's Grimstone

The importance of having well-informed boards, good risk culture and strong internal audit functions were among the topics discussed at the Institute of Internal Auditors conference in London on September 30.

In a keynote speech, Gerry Grimstone, the chairman of UK-based asset management and pensions firm Standard Life, said he had been involved in financial services for more than 30 years, but it was the last seven that were “most dramatic”. He highlighted problems such as the Libor scandal,

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