Shared audit's £1bn cost; failed UK energy firms had no internal audit; governance rules for all; is climate risk reporting...
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Top Stories
OneLove, but not at the World Cup
By Gavin Hinks
/ November 25, 2022
FIFA's ban of the One Love armband at the World Cup triggers German supermarket giant to cancel sponsorship.
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EU under fire over sustainability reporting reforms
By Gavin Hinks
/ November 25, 2022
Campaigners fear that ‘limited’ EU draft directives on corporate reporting will hinder the creation of a ‘sustainable and just economy’.
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NEDs ‘needed more than ever’ in times of uncertainty
By Gavin Hinks
/ November 23, 2022
The non-executive director’s role is to both challenge and listen to management, agreed the panel of a recent webinar.
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Board focus is essential to improving human rights
By Gavin Hinks
/ November 22, 2022
Companies that take human rights due diligence seriously tend to lead on the issue from the top, finds global benchmarking...
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Why are ‘ethical’ executives still highly paid?
By Sandy Pepper
/ November 21, 2022
The way the labour market works—or fails to work—presents a dilemma for remuneration committees when it comes to executive pay.
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News round-up: this week in governance
By Gavin Hinks
/ November 18, 2022
Musk 'slept on factory floor'; Tyson Foods CFO arrested; FRC public interest entity definition grows; Japan urged to boost women...
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Companies lean towards hiring CEOs new to the C-suite
By Gavin Hinks
/ November 17, 2022
Report on this year’s boards shows that 22% of UK chief executives had never had an executive role before becoming...
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Twitter’s sale to Elon Musk leaves stakeholder governance high and dry
By Gavin Hinks
/ November 16, 2022
The company’s failure to consider in advance those affected by the deal does not bode well for stakeholder governance, write...
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US companies face governance issue over abortion rights
By Gavin Hinks
/ November 14, 2022
Some corporates have supported employees’ rights, while still donating to Republicans who support the reversal of Roe v. Wade.
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News round-up: this week in governance
By Gavin Hinks
/ November 10, 2022
COP27 call for climate change transition plans; putting purpose at the heart of business; a disappointing take on diversity Down...
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FRC unveils new audit committee standards
By Gavin Hinks
/ November 10, 2022
Watchdog’s guidance to audit committees aims at expanding choice and addressing competition within the audit market.
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OECD governance code review falls short of expectations
By Gavin Hinks
/ November 9, 2022
Commentators point out that efforts to bring the code up to date lack sufficient focus on stakeholders and sustainability.
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‘Poor’ proxy advisers ‘stifle’ investor stewardship
By Gavin Hinks
/ November 7, 2022
Many chairs believe the focus on compliance has led to the board’s relationship with institutional investors deteriorating, report finds.
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News round-up: this week in governance
By Gavin Hinks
/ November 3, 2022
Companies retreat to their bubbles; introverts retreat to home working; the French get ahead on 'responsible capitalism'.
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BlackRock to test shareholder democracy in the UK
By Gavin Hinks
/ November 3, 2022
Chief executive Larry Fink seeks ‘to translate individual investor views into voting instructions’ for the first time.
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US passes clawback rules
By Gavin Hinks
/ November 3, 2022
Regulators have moved on clawbacks in Washington while the UK has them under review.
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Years after Carillion’s collapse, the UK still waits for audit reform
By Gavin Hinks
/ October 31, 2022
Researchers say inquiry focused on apportioning blame to individuals, rather than investigating the regulatory system.
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Number of ‘ESG-engaged’ directors rises steeply
By Gavin Hinks
/ October 28, 2022
This year's Sustainability Board Report also reveals that many more large companies now have an ESG committee.
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News round-up: this week in governance
By Gavin Hinks
/ October 27, 2022
Company cashflow reporting; workers on boards; country-by-country tax reporting; FTSE companies and ethics; US corporate crime database.
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Latest News
NEWS: Governance, 25 November, 2022
News round-up: this week in governance
Shared audit’s £1bn cost; failed UK energy firms had no internal audit; governance rules for all; is climate risk reporting an SEC matter?
NEWS: Corporate values, 25 November, 2022
OneLove, but not at the World Cup
FIFA’s ban of the One Love armband at the World Cup triggers German supermarket giant to cancel sponsorship.
NEWS: Sustainability reporting, 25 November, 2022
EU under fire over sustainability reporting reforms
Campaigners fear that ‘limited’ EU draft directives on corporate reporting will hinder the creation of a ‘sustainable and just economy’.
NEWS: Webinar, 23 November, 2022
NEDs ‘needed more than ever’ in times of uncertainty
NEWS: Human rights due diligence, 22 November, 2022
Board focus is essential to improving human rights
INSIGHT: Executive pay, 21 November, 2022
Why are ‘ethical’ executives still highly paid?
NEWS: Governance, 18 November, 2022
News round-up: this week in governance
NEWS: Chief executives, 17 November, 2022
Companies lean towards hiring CEOs new to the C-suite
Interviews
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NEWS: Podcast
Boards advised to ‘act now to save auto sector’
The UK’s auto industry faces unprecedented challenges and may only have 10 years to adapt or disappear, warn experts in our latest podcast.
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NEWS: Webinar
Business transformation is a priority now, say experts
As business survival depends on adapting to the changing post-pandemic economic landscape, it’s as well to be ahead of the game.
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NEWS: Webinar
Stakeholder pressure increases urgency on ESG
Experts say pressure to act on ESG is coming from regulators, investors and a new generation of consumers and employees.
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NEWS: Webinar
Many executives ‘fail to understand the role and value of boards’
A recent webinar on board effectiveness discussed the mix of competence and courage required from non-executive directors.
Board Moves
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Board moves, 24 November, 2022
PZ Cussons gains NED and future chair
David Tyler has joined the board of the personal healthcare company and is set to be appointed chair on 31 March next year.
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Board moves, 22 November, 2022
Bob Iger returns as Disney CEO
Iger, who led Disney from 2005 until 2020 as its chair and CEO, takes over from Bob Chapek, who has stepped down.
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Board moves, 21 November, 2022
Naked Wines announces NED
The online wine retailer has appointed Stephen Bolton to its board as a non-executive director with immediate effect.
Regulation
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NEWS: Governance, 25 November, 2022
News round-up: this week in governance
Shared audit’s £1bn cost; failed UK energy firms had no internal audit; governance rules for all; is climate risk reporting an SEC matter?
-
NEWS: Sustainability reporting, 25 November, 2022
EU under fire over sustainability reporting reforms
Campaigners fear that ‘limited’ EU draft directives on corporate reporting will hinder the creation of a ‘sustainable and just economy’.
-
NEWS: Governance, 18 November, 2022
News round-up: this week in governance
Musk ‘slept on factory floor’; Tyson Foods CFO arrested; FRC public interest entity definition grows; Japan urged to boost women on boards.
Partner Contributions
NEWS: ESG reporting
ESG reporting all-important in stakeholder engagement
Experts advise that by boosting their annual reporting, boards can build trust and form more meaningful relationships with investors.
INSIGHT: Governance
Audit committees and ESG: ‘It’s a difficult journey to navigate’
The rise of ESG as an investor concern is creating new demands of audit committees. A recent CACID event looked at the challenges.
Recognition that significant change is needed and determination to drive progress are vital if boards are to improve sustainability.
INSIGHT: Strategy
Leading change: the board’s role in driving business transformation
The chief executive and the rest of the board need to create a vision for the future, with clear objectives and a plan for achieving them.
As events repeatedly demonstrate, supply chain disruption is a given. Here's how improving resilience can benefit your wider strategy.
INSIGHT: Strategy
Firms forge ahead with AI adoption despite a lack of skills on boards
Survey reveals more than two-thirds of companies plan to implement AI technologies in the next 12 months.
A new report provides a roadmap to navigate the recovery by creating a culture of innovation—including making it a priority in the boardroom.
Insight: Risk
D&O litigation on the rise amid host of emerging risks
Directors face liability over a range of new threats, with data breaches, executive misconduct and climate boosting D&O litigation claims.
INSIGHT: Crisis management
Corporate disclosures and investor relations 'impaired by Covid-19'
A recent event hosted by Mazars brought together audit committee chairs and investors to explore their experience of coping with the impact of Covid-19.
NEWS: Governance awards
Diligent launches search for top 100 governance professionals 2020
The Modern Governance 100 programme honours company secretaries, corporate counsels and other professionals driving change in their organisations.
Survey reveals almost 60% of firms have revisited their strategy, and highlights a lack of board knowledge about key risks—including climate change.
INSIGHT: Compliance
Internal investigations are on the rise—but are they robust enough?
New legislation in the UK and Europe has added pressure for more internal investigations. But the lack of guidance puts companies at a disadvantage.
Risk management
Covid-19 adds to an unprecedented landscape of risk
Audit committee chairs have already drawn risk management lessons from the pandemic. But their attention is also fixed on the issues that will remain long after the crisis is resolved.
Investor engagement
Collaboration is key for the challenging AGM season ahead
With shareholder activism on the rise, boards must ensure they engage fully with investor concerns and demonstrate how they are addressing crucial issues.
Setting up a business in Germany can be challenging—even something as basic as opening a bank account poses difficulties. Here's what you need to know.
Talent pipeline
How companies can develop more diverse boardrooms
Diverse boardrooms have been shown to correlate with improved financial performance. But creating a talent pipeline isn’t an overnight task.
Board evolution
Setting the pace: how to ensure your board is fit for the future
EY’s latest whitepaper looks at the key actions boards should take now to ensure they set the pace—or risk falling behind.
Chairs and board members must understand their organisation's financial risk policy and hedging strategy to ensure that they can ask the right questions—and mitigate the risks posed by volatile financial markets.
A new report examines how outsourcing offers financial and strategic advantages to organisations in an increasingly fast-paced business environment.
Global business
Greece tops list of most complex international jurisdictions
TMF Group’s Global Business Complexity Index ranks Greece the most difficult jurisdiction for international companies to do business in, with Brazil, Germany and China also in the top ten.
Knowledge sharing
NGO governance: finding solutions to future challenges
A recent event brought together experts from national and international non-governmental organisations (NGOs) to identify future governance challenges for the sector—and share possible solutions.
Financial services
Banking on better cybersecurity
Boards are bolstering their expertise as they look to tackle one of the biggest business threats facing financial services firms: the risk of cyber-attacks. But experts warn that resilience needs to be hard-wired into the business itself.
Following a raft of corporate scandals uncovered by whistleblowers, the business risks associated with an individual revealing wrongdoing should not be underestimated in the boardroom.
Board expertise
Taking control of cyber risk
Cybercrime is an escalating problem that demands constant attention to mitigate against financial and reputational risk. But what should boards do to ensure their organisation is protected?
Board expertise
Performance and accountability: the changing role of the chair
The role of the board chair has changed dramatically in the past decade, with chairs increasingly held responsible for corporate governance failures. How can board leaders ensure they are prepared for the challenges ahead?
Financial services
Special report: Future-proofing financial services
From compliance to new technology and broader stakeholder engagement, financial services firms today must be fighting fit in order to thrive. Enter the effective board, which must govern like never before. In this special report, we outline six key areas of knowledge and insight to equip boards for the unprecedented challenges ahead.
Boards could take the opportunity to turn transparency to their advantage. A penetrating light is being shone on the tax affairs of multinational entities—but tax transparency will encompass all businesses in time.
