Tag: Financial Reporting Council
Company purpose is more than a marketing slogan—it’s a new philosophy
Embedding company purpose requires businesses to think about every process their organisation operates—and accept that there will be trade-offs.
Auditors on notice to reject ‘expectations gap’ consultation
Advisory body PIRC considers recommending shareholders vote against auditors if they fail to “publicly repudiate” the consultation document.
UK stewardship code ‘has not changed the nature of investor engagement’
Academic says the revised code requires “mandatory legal or regulatory impositions” if it is to remain relevant.
Audit white paper proposes new powers for regulator to sanction directors
Observers warn that proposals to increase the accountability of directors for audit and internal controls could deter candidates.
FRC: many firms ‘not transparent about their compliance with UK code’
Issues identified include difficulties in describing how stakeholder interests are considered and failure to limit the tenure of board chairs.
Will your next annual report come with installation instructions?
The FRC has been considering what cutting-edge corporate reporting looks like—and it involves virtual and augmented reality.
FRC backs use of augmented and virtual reality in corporate reporting
Report says VR and AR could play “a useful role in supporting and building understanding about a company, its business model and operations”.
Board evaluations review finds room for improvement
The Chartered Governance Institute calls for firms to disclose more data on board performance reviews, including conflicts of interest.
‘A systemic risk’: investors demand greater ethnic diversity in boardrooms
State Street’s CEO says ethnic diversity on boards is “material to long-term sustainable returns”. It’s a reminder that businesses do not exist in a vacuum.
Evidence builds for introduction of new audit committee standards
Financial Reporting Council says new report “lends weight to proposals for reforms in the audit sector”, including new standards for committees.