The statement shown below made by Michael Smith the Chair of BD bothers me a great deal. These processes and practices are built up and refined over a long period and if they are not right now then there is a considerable amount of homework to be done to get them right. Admittedly the atmosphere in which debt buying companies are now operating has been changed by both regulation and Govt as well as public opinion asking for more flexibility and forbearance in the collection process due to the economic conditions. This obviously requires some changes in methodology but I would have thought they would be temporary and not require a revamp of processes and practices to the extent that Micjhael Smith has indicated."Clearly our processes and practices need strengthening, notwithstanding working closely
with our Auditors on these matters. This has the Board’s focus."
"Clearly our processes and practices need strengthening,...
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