Former Olympus President Calls For Independent Helplines

The former president and chief executive of Olympus who came forward regarding concerns over fraud at the company has called for more to be done to encourage people to speak out over such issues and make the act of whistleblowing easier.

Michael Woodford, who became well-known after he exposed a $1.7 billion fraud at the Japanese optics manufacturer, has told both BBC Radio 4’s Today programme and HR Magazine that independent hotlines should be introduced at organisations.

He explained that such systems should give workers the chance to report concerns over potential wrongdoing to non-executives within large companies.

Explaining to HR Magazine, he said: “Now if you're a non-executive director you will be personally liable if you don't demonstrate scrutiny and oversight.

"If this happens it will be a really positive move and non-executives can help deliver a paradigm change in governance.”

Earlier this year, the government launched a call for evidence to examine the current laws surrounding the issue of whistleblowing and whether enough support exists for people who undertake it.

Expert Opinion

Mr Woodford’s comments on this issue are timely, with some expecting the government to announce new measures regarding the issue of whistleblowing protection in the coming weeks. <br/> <br/>"In the wake of recent scandals seen in major organisations in recent times, there appears to be much appetite to ensure that people are actively encouraged to speak out over concerns of wrongdoing or potential fraud issues. <br/> <br/>"For some whistleblowing requires an important shift in cultural attitude and knowledge that in doing so they are protected. It may be that new measures strengthen the whistleblowers position allowing people to feel more confident in coming forward and in the process force businesses to recognise the need for compliance and to ensure any activities meet the required regulation that governs its operation."