Prem Sikka’s peerage – its value to accounting , governance and pensions

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My thanks to Dennis Leech, for pointing this out, I will return to Dennis’ comments in a moment but first need to focus on Prem Sikka, for he is not a person I’ve come across. This is my bad.

Reading various articles and comments by Prem Sikka , I am struck that his twitter timeline makes no mention of the honor bestowed on him, focusing instead on instances of poor corporate governance, weak accounting and the points deduction on Sheffield Wednesday.

His writings consistently question the governance of British governance and its adherence to the principals behind ESG.

The House of Lords has a another peer who is quite contrary.

This is taken from an opinion piece published in the Guardian and written by Prem Sikka in May of last year

BSL (British Steel Limited) is another corporate disaster entirely made in the UK. Despite a string of similar scandals and collapses there has been no reform of corporate governance, insolvency, accounting, auditing or anything else. There is hardly any scrutiny of private equity and its devouring of businesses. None of this neglect can be attributed to the European Union. Rather it is all the consequence of an economic and business ideology which continually seeks to appease the financial industry and oppose the democratisation of business.

Reading the paper tweeted by Dennis Leech, I discover that this man has been talking a huge amount of sense since at least 2006 and much of what he has been saying is directly relevant to the pensions debate. Which makes me wonder why it has taken Jeremy Corbyn to give us his voice in the House of Lords.

Sikka joins a growing number of voices in the Lords dissenting from the received position that pension schemes should de-risk , avoid taking on future liabilities and allow retirement risk to pass from collectives to individuals.  I hope he and Bryn Davies will be given the warmest of welcomes by Baronesses Bowles and Altmann.

But back to Dennis

Dennis Leech ‘s thread is a better tribute to the relevance of  Prem Sikka than you will find from my fingers, so here is the thread started above and concluded below

If the legacy of Jeremy Corbyn to pensions is the elevation of Bryn Davies and Prem Sikka to the House of Lords, then it is a good legacy and the House of Lords a better place for pensions.

About henry tapper

Founder of the Pension PlayPen,, partner of Stella, father of Olly . I am the Pension Plowman
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