Government legislative agenda sees FRC reduce governance code revisions, but declaration on controls survives the cull.
The government’s bonfire of the regulations expected for audit reform creates a source of uncertainty for business.
Plans for resilience reporting regulations are scrapped in the volte-face, as is the requirement for an audit and assurance policy.
In all, the auditing giant has now been fined £30m for its failures at Carillion, reduced to £21.5m for co-operation.
There is an “urgent need” for reform to the audit landscape as well as internal audit, the Chartered IIA argues.
Board directors are entering a tough new era, with regulatory proposals to impose sanctions for directors who deliberately put their employees’ pensions at risk.
A report from the Financial Reporting Council delivers scathing criticism of PwC’s audit of collapsed retail chain BHS and the partner who headed the work.
Directors could be fined or struck off if they fail to protect pension schemes, according to a policy announcement by prime minister Theresa May.
Large private companies should be subject to the same governance rules as publicly listed companies, concludes committee of MPs.
Corporate governance in the UK is under scrutiny. Stephen Haddrill, chief executive of the UK’s governance regulator, discusses where he believes change should come.