Tag: Carillion
UK government backtracks on audit reform
Plans for resilience reporting regulations are scrapped in the volte-face, as is the requirement for an audit and assurance policy.
Audit reform changes will increase ‘pressure’ on boards
Implementing managed shared audit would put a burden on audit committees, a recent panel discussion concluded.
Record fine for KPMG over Carillion audit
In all, the auditing giant has now been fined £30m for its failures at Carillion, reduced to £21.5m for co-operation.
Further delay for audit reform
Long-awaited legislation to create a new audit and governance watchdog may not see light until after the election, says news report.
Corporate governance code review boosts internal controls
UK watchdog’s proposals include giving audit committees greater reporting responsibilities and addressing ‘overboarding’.
Resilience reports will involve ‘difficult decisions’
New government requirements mean boards will need to disclose planned responses to risks—leading to tough choices, a recent briefing heard.
News round-up: this week in governance
Defence firms and ESG funds; tough talk on audit reform; more black women on US boards; ‘anti-woke’ Ramaswamy to run for office.
Audit reform in the UK risks ‘losing momentum’
The Financial Reporting Council still awaits the proposed new statutory powers that would allow it to enforce substantive change.
UK boards face internal controls shake-up
The government’s reform proposals include seeking disclosures from many non-financial public interest entities.
News round-up: this week in governance
FRC awaits powers for audit reform; CEO transferable skills ‘myth’; Asos cuts CEO bonus; compliance can stifle innovation.