Tag: FRC
Government to push ahead with new audit and governance watchdog
The government has launched a consultation on creating a new governance and audit watchdog with more powers, to replace the Financial Reporting Council (FRC).
New guidance pulls non-execs into ‘going concern’ debate
Recent corporate collapses such as BHS and Carillion have put “going concern” statements in the spotlight. New guidance will make non-executive directors—especially those on the audit committee—part of the assessment.
New stewardship code shifts emphasis to disclosures and ‘outcomes’
A new stewardship code for investors seeks to answer criticism that it was too focused on policy with little attention to outcomes.
2018: A year in governance
This past year has been packed with governance events from the launch of new codes, executive pay debates, and leadership behaviour debacles to climate change, cybersecurity scandals and the Khashoggi murder.
UK to replace governance watchdog with new regulator
The Financial Reporting Council is to come to an end as a government report recommends replacing it with a new body—the Audit, Reporting and Governance Authority.
Success for women in the boardroom, but not necessarily as chair or CEO
The latest Hampton-Alexander review reveals that women have reached a major milestone on FTSE 100 boards, but still fail to win CEO or chair positions in significant numbers.
Corporate reporting approaches a new start
The Financial Reporting Council has launched a project to reshape corporate reporting in response to the “responsible business agenda” and the realisation that reports should be designed for a wider group of stakeholders.
How do you solve a problem like audit?
Concerns about audit have triggered various investigations into the market’s workings, yet attempts to ‘improve’ audit quality—seem to be failing. So where now for audit reform?
Compliance failures and diversity doubts
The revised UK Corporate Governance Code has emphasised the importance of board diversity, but there is consternation over corporate commitment to it as many firms fail to comply fully with reporting requirements.
KPMG conflict of interest with Ted Baker results in £3m FRC fine
KPMG conflict of interest while undertaking Ted Baker audit sees it hit with a £3m fine, reduced to £2.1m after settling.