Tag: finance
Telit’s governance tidy-up includes financial review and cost-cutting
Following the departure of CEO Oozi Cats, Telit seeks a new chairman and non-executives; an external review of finances; and cost-cutting, as covenant test looms.
European banking authorities urge greater diversity among managers
European financial institutions should improve the diversity of their management bodies to overcome the risk of ‘group think’ and ensure sound governance, say European banking authorities in new guidelines published this week.
Financial watchdog defends change to listing rules
The Financial Conduct Authority says changes to the listing rules to allow sovereign-owned companies will be “transparent and safe”.
Boards fail to describe preferred culture to staff, survey shows
Survey reveals one-third of boards do not define the culture they want among employees, while one-fifth said culture is included as an aspect of their audit.
Interserve chief’s payoff elicits investor criticism following profit warning
Investors criticise the high severance pay of former Interserve CEO Adrian Ringrose, who departed two weeks before the company’s profit warning.
Energy supplier SSE reveals growing gender pay gap
British energy company SSE is in the vanguard of publishing gender pay gap data, but is forced to reveal that the gap has widened year on year.
Brexit uncertainty affecting investment decisions, says Bank of England
Businesses are looking to mitigate potential Brexit risks regarding market access, despite the attractiveness of exporting, while investments waver.
Audit firm KPMG cleared over HBOS audit after 2007 financial crisis
Investigation into audit of HBOS by Big Four audit firm KPMG is closed after regulator finds KPMG’s work “did not fall significantly short” of expected standards.
PwC reveals BAME pay gap of 12.8% in bid to ‘shine spotlight on ethnicity’
Professional services firm PwC is one of the first organisations to reveal its own pay gap for BAME (black, Asian and minority ethnic) executives, at 12.8%.
Ethics must be ‘front and centre’ as non-executives check financial reports
Governance expert Guy Jubb calls on non-executives to consider ethics and culture in their “critical role” of helping produce true and fair financial reports.