Governance
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”.
Audit and accounting, 17 November, 2017
Watchdog to review reporting of Brexit risks
Financial Reporting Council will look at the disclosure of Brexit risks as part of its next thematic reviews.
Stewardship Code Japan, 13 November, 2017
Origins of investor stewardship and the Japan code
Abenomics brought a host of changes to Japan, not least the introduction of a new stewardship code for investors. The code is now being updated with new guidance, explains Kerrie Waring of the ICGN.
Succession, 10 November, 2017
Investors head for showdown with LSE board over CEO’s departure
Senior figures from The Children’s Investment Fund are set to meet the London Stock Exchange board next week to discuss the departure of chief executive Xavier Rolet.
Corruption, 8 November, 2017
Rolls-Royce executives plead guilty to bribery charges
US Department of Justice publishes charges of foreign bribery against three former Rolls-Royce executives and two consultants.
Governance South Africa, 3 November, 2017
South Africa needs a stepped-up approach to governance
With South Africa’s economy facing more tough times ahead, an increased focus on stewardship is vital. King IV should be used as a platform for good governance practices, argues Robert Lewenson.
Corporate governance, 3 November, 2017
View from the chair: Ken Olisa on good governance
The debate over good governance should be led by practitioners, not regulators, but companies need a deeper understanding of how their boards operate, says Ken Olisa of the Institute of Directors.
US audit reporting, 3 November, 2017
SEC approves enhanced auditor reporting and communication
The US markets regulator approves new standards, which will see auditors reveal their tenure with an organisation and more detail in their audit report.