Study finds committees in troubled firms have fewer female members, more outside directorships, greater shareholdings and longer tenures.
As the UK moves towards reform of audit regulation there is now much research focused on the work of company directors overseeing the work of auditors. Not all of it comes with good news.
A fresh examination of audit committees suggests those whose companies have been hit by scandals possess characteristics that some observers might call deficiencies. A team of academics from Strathclyde, Coventry and London looked at a number of companies that underwent “audit enforcement procedures” conducted by the Financial Reporting Council and compared their audit committees, their size, number of meetings, length of tenure and diversity to compa
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Nearly two-thirds of investors say a proxy adviser should recommend voting against the election or re-election of a board chair if they are not “independent”, regardless of the overall independence of the board.