Finance should be a servant, but never a master. So when accountants and auditors become the story because of systemic failures and corporate malfeasance you know something has gone badly wrong. As big accountancy firms are increasingly embroiled in corporate scandals, how do we clearly define their role so they actually serve society instead of continually maximising profit for private and personal gain?
If positive social and political change worked top down, we wouldn’t have to make this programme. Sadly, it doesn’t. So at a time when the political class is out of ideas and the corporate class is out of excuses for its behaviour, the job of finding new perspectives and insights and ideas falls to the independent media. As a busy year draws to a close we look back at those people who have inspired and enlightened us in 2017. This is the first of two shows that are a whistle-stop tour around the thinkers, writers, doers and Renegade types we met over the last 12 months.
Since the financial crisis, apart from a few tokenistic traders, the UK authorities have been absolutely toothless when it comes to prosecuting bankers who have broken the law. But is this just incompetence, or is our regulatory system designed in a way that means that victims fall through the gaps, while banks are permitted to operate above the law? Get a sneak-preview of our upcoming episode on white-collar crime featuring former Met Detective, Andy Keats, and researcher and campaigner Joel Benjamin.
Prof Anat Admati is the author of The Bankers’ New Clothes. She uncovers how much banking has damaged the real economy.
Why is the fall-out from a financial industry seemingly so detached from the rest of society?