Over half of non-executive directors in Scotland are concerned about the effectiveness of whistle-blowing procedures at corporates, and as a result, are recommending that audit committees are given a greater role in overseeing internal controls.
Almost 60% report that procedures for corporate employees to raise the alarm over corporate fraud are inadequate, while 69% advocate increased responsibility for audit committees.
The survey, carried out by KPMG, also revealed that almost half the respondents thought their committees were inadequately resourced, and that the recruitment of experienced audit committee members was proving difficult.
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