Tag: Financial Reporting Council
Boards will need to make internal controls statement
Government legislative agenda sees FRC reduce governance code revisions, but declaration on controls survives the cull.
Big Four firm in late plea for audit reform
Further delay ‘will not achieve the aim of restoring trust in audit and corporate governance’, says Deloitte managing partner.
News round-up: this week in governance
BlackRock highlights gender diversity benefits; FRC publishes advice on ‘materiality mindsets’; WEF hears that growth takes many forms.
Ditching audit reforms will ‘diminish’ UK reputation for reporting
We will continue to argue for and support improvements to corporate reporting (and to audit quality and to audit oversight) in the UK, to ensure that the UK continues to be a world leader in this really important area.
Reversal on audit reform makes ‘little sense’
Investors react to the government’s U-turn on proposed measures prompted by the collapse of Carillion in 2018.
UK government backtracks on audit reform
Plans for resilience reporting regulations are scrapped in the volte-face, as is the requirement for an audit and assurance policy.
Banks must pay ‘close attention’ to ESG
Regulators have expressed concern about sustainability linked loans and ‘greenwashing’, a recent panel discussion revealed.
Record fine for KPMG over Carillion audit
In all, the auditing giant has now been fined £30m for its failures at Carillion, reduced to £21.5m for co-operation.
Financial watchdog highlights reporting issues
Ongoing economic uncertainty has seen some companies struggle to provide useful financial data, the FRC finds.
Business relays UK Corporate Governance Code concerns
Responses to the FRC’s consultation on its proposals highlight practical concerns about implementation and compliance.