Tag: financial reporting
Investor ire sees Sir Mick Davis’s Rio Tinto chairmanship plan shelved
Rio Tinto backtracks on plan to appoint Sir Mick Davis as chairman, after an influential group representing a large tranche of shareholders expresses concern.
Conservative Party CEO lined up for mining return with Rio Tinto
Sir Mick Davis, who was a key figure in Xstrata’s merger with Glencore, could return to the fray as Rio Tinto chairman, according to reports.
Ex-Rio Tinto CEO and CFO charged with fraud over ‘inflated’ asset values
Thomas Albanese, Guy Elliott and Rio Tinto face a civil charge of fraud by the SEC over alleged failure to inform markets of plummeting asset values. Elliott also quits the Royal Dutch Shell board.
Corporates must get to grips with new accounting standards, says FRC
Clear disclosures about the effect of major new accounting standards, alongside better linkage between strategy, KPIs and remuneration, are areas under the gaze of the Financial Reporting Council.
Investigation into PwC’s client asset reporting at Barclays closes
Accounting’s watchdog ends investigation into PwC’s audit work at Barclays, deciding there is “not a realistic prospect” of an adverse finding.
Telit’s governance tidy-up includes financial review and cost-cutting
Following the departure of CEO Oozi Cats, Telit seeks a new chairman and non-executives; an external review of finances; and cost-cutting, as covenant test looms.
Ethics must be ‘front and centre’ as non-executives check financial reports
Governance expert Guy Jubb calls on non-executives to consider ethics and culture in their “critical role” of helping produce true and fair financial reports.
New reporting rules on payment practices for large firms
Large UK companies will be obliged to reveal payment practices in a bid to increase transparency and help small business suppliers negotiate fairer terms.
Companies fail to acknowledge bad news
Watchdog’s annual review of financial reporting reveals improvements are underway but reports can lack balance.