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The reputation of arms manufacturer BAE System has been damaged due to a lack of attention to its ethics, its own senior executives have admitted.
Executives made the admission to former lord chief justice, Lord Woolf, after he completed a review of BAE's ethical practices.
Lord Woolf was engaged for the review last summer after allegations of bribery and corruption around a major arms deal with Saudi Arabia damaged the company's reputation.
The £1.7 million 150-report delivers 23 recommendations as to how BAE can avoid corruption and improve its ethical business processes.
However, Lord Woolf chose not to investigate the past activities of Europe's largest defence manufacturer stating to the Times that "the future is much more important".
Mike Turner, BAE's outgoing chief executive, said they would "carefully study the report's contents to understand the detail of its conclusions and remain committed to acting on all its recommendations".
Campaign Against the Arms Trade said to the Times that they would now watch for "meaningful changes that come about as a result of the report".
