Lessons from Davos; companies risk sliding back on ethical practices; economics affects everyone; Sir John Kingman moves to Barclays.
The Financial Reporting Council still awaits the proposed new statutory powers that would allow it to enforce substantive change.
There is an “urgent need” for reform to the audit landscape as well as internal audit, the Chartered IIA argues.
Musk ‘slept on factory floor’; Tyson Foods CFO arrested; FRC public interest entity definition grows; Japan urged to boost women on boards.
Watchdog’s guidance to audit committees aims at expanding choice and addressing competition within the audit market.
More than four years after the collapse of Carillion which sparked a call for ‘urgent’ audit reform, the wait continues.
Watchdog ‘lays groundwork for the creation of ARGA’ with planned consultation on audit committee ‘minimum standards’.
While directors will face sanctions for inadequate company reporting and audit committee duties, other key reforms have been watered down.
While the creation of ARGA is confirmed, details about other proposed changes are scant and uncertainty over timing remains.
The prospective FRC chair acknowledged that the watchdog’s own governance needs reform, and that audit scandals have damaged its reputation.