Morley fears for accounts’ integrity

The 'true and fair' principle that guarantees the integrity of company accounts - a cornerstone of UK financial reporting for decades - is threatened by new European Union rules, according to one of the UK's biggest investment groups. Keith Jones, chief executive of Morley Fund Management, has called on the industry and the UK government to defend 'key shareholder protections' against the wording of new amendments to the EU's company law directives adopted at the end of May 2006.