Tag: internal controls

Boards urged to retain ‘beneficial’ reporting elements
Although the government cancelled the requirement, resilience disclosures ‘cannot be wasted effort’, says senior auditco chair.

Boards will need to make internal controls statement
Government legislative agenda sees FRC reduce governance code revisions, but declaration on controls survives the cull.

An uncomfortable U-turn on audit reform
The government’s bonfire of the regulations expected for audit reform creates a source of uncertainty for business.

Reversal on audit reform makes ‘little sense’
Investors react to the government’s U-turn on proposed measures prompted by the collapse of Carillion in 2018.

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.

Business relays UK Corporate Governance Code concerns
Responses to the FRC’s consultation on its proposals highlight practical concerns about implementation and compliance.

Audit committees give investors a new perspective
Investors who quiz the audit committee get a more rounded – albeit sometimes less comfortable – picture of the company.

Corporate governance code review boosts internal controls
UK watchdog’s proposals include giving audit committees greater reporting responsibilities and addressing ‘overboarding’.

Watchdog urges asset managers to quiz the audit committee
Auditco chairs will have their work cut out if the role increases to become more ‘outward facing’ and encompass investor relations.

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.