Governance
Governance code, 11 December, 2017
One-fifth of FTSE 100 chairs could be affected by nine-year tenure rule
New provisions defining “independence” for non-executive directors in a revised corporate governance code could affect one-fifth of FTSE 100 chairs.
Governance code revision, 8 December, 2017
UK’s draft new governance code has a social mission
This week saw the release of a new draft code for UK corporate governance. While many were distracted by measures on executive pay, the code’s real mission is social “injustices”, as highlighted by Theresa May last year.
Climate change, 8 December, 2017
French investors tackle reporting on ESG with Article 173
Analysis reveals that two-thirds of the top 100 in France have reported under the new Article 173 requirements, while 31 lag behind.
Corporate governance Holland, 8 December, 2017
Dutch shareholders oppose inclusion of governance in accountants’ role
Shareholders say accountants are not qualified to examine the “broad terrain” of corporate governance compliance.
Code revision, 6 December, 2017
Revised UK Corporate Governance Code meets with broad welcome
Proposed new governance code broadly welcomed for emphasis on corporate culture and strengthening shareholders’ and workers’ voices, but there is a call for more to be done on executive pay.
Code revision, 5 December, 2017
UK’s new governance code targets corporate culture, wider society and pay
The proposed new corporate governance code is shorter and focuses on company culture, extending boardroom responsibility beyond shareholders and ensuring companies work for long-term sustainability.
Revised remuneration policy, 5 December, 2017
Remuneration committees’ remit broadened under revised UK Code
Aligning wider workforce pay in relation to executive remuneration should be tasked to non-executives under a revised Corporate Governance Code, suggests the Financial Reporting Council.
FRC governance and process, 30 November, 2017
FRC: We should have moved more quickly on KPMG/HBOS audit inquiry
Accountancy’s watchdog tells Treasury Select Committee it should have been more proactive in delving into KPMG’s audit work of HBOS—but lessons have been learned.
Government policy, 27 November, 2017
Industrial strategy calls for improved reporting of capital allocation
Better reporting is needed to support “long-term” investment, says the UK government, but it is criticised for failing to mention human capital in its long-anticipated Industrial Strategy.
Audit and accounting, 22 November, 2017
Big Four accounting firms face £10m in fines for faulty audits
Report from accounting watchdog proposes lifting the maximum fines for Big Four audit firms to £10m or more in cases involving “seriously poor audit work”.