Friday 16 November 2007

Privatisation + Audit = what?

SOUTHERN WATER
OFWAT has fined Southern Water £20.3 million - their biggest ever fine - for misreporting information and providing a poor service to customers. The Serious Fraud Office dropped its fraud investigation earlier this year because of lack of evidence. This is the big news of today.

Rather than assuming that the managers were all frauds, it might be more productive to wonder how this farce has come to pass.

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