Morrisons accused of 'arrogance' by leading corporate governance research body over its accounting systems crisis
Struggling supermarket Morrisons' bid to solve its accounting systems crisis by calling in outside assistance from KPMG during its annual general meeting has been branded 'arrogant', 'embarrassing' and a 'FTSE100-first' by a leading corporate governance research body.
Link: Morrisons sees operating margins down
Following comments by group chief executive and newly appointed chairman Bob Stott during Morrison's AGM last week, Alan MacDougall, managing director of Pensions Investment Research Consultants, called Morrisons' inability to accurately forecast its profits for the next quarter 'highly embarrassing'.
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