Shareholders do not own companies, graduates told

International corporate governance expert Bob Garrat says ‘working assumption’ that has prevailed for 100 years is wrong

Daniel Murray

Political Correspondent @danieltmurray
8th December, 2019
Shareholders do not own companies, graduates told
Bob Garrat: ‘Shareholders do not own companies, full stop. That is the law.’

Companies are not owned by their shareholders, contrary to popularly held wisdom, according to international corporate governance expert Bob Garrat.

The business consultant also said that auditors would have to begin reporting on more than just financial indicators, and the Big Four accountancy firms should be split up.

Garrat made the comments to the Business Post during a visit to Dublin to address the 2019 alumni conference of graduates of UCD’s Smurfit School of Business’s...

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