The governmental responses to the financial crisis have been many and varied with markedly different approaches being taken on both sides of the Atlantic. One common strand between the European and US administrations has been the role of institutional shareholders and their use – or otherwise – of voting rights to discipline management. In the […]
Read MoreHenry Ford is frequently misquoted as saying “History is bunk” what he actually said was: “History is more or less bunk. It’s tradition. We don’t want tradition. We want to live in the present and the only history that is worth a tinker’s dam is the history we made today.” Looking at the current state […]
Read MoreWe noted last month that Australia’s Productivity Commission had released a detailed discussion document which included a package of suggested changes to the Corporations Act and ASX listing rules. Over 50 submissions were made to the Commission following the publication of the discussion document and before last Friday’s deadline. The Commission is now preparing its […]
Read MoreLabour rights campaigners have accused leading British retailers of trapping their overseas garment workers in poverty. In a report published by anti-poverty charity War on Want and NGO Labour Behind the Label, Asda and Matalan are accused of lacking any coherent strategy to ensure a living wage for people who make their clothes abroad. Nine […]
Read MoreThe increasing foreign ownership of UK companies is forcing the UK’s reporting watchdog the FRC rethink the role of audit and market oversight. Stephen Haddrill, chief executive of the Financial Reporting Council, speaking to senior finance figures this week said that he would canvass opinion on the adequacy of the audit report, whether there needs to be […]
Read MoreBig Four auditor Deloitte has enhanced its presence in the green consultancy market through the acquisition of sustainability and consultancy adviser dcarbon8. The firm will be integrated with Deloitte’s environmental and sustainability consulting practice, with founder Guy Battle becoming a partner. The deal will give Deloitte a route into the growing market for carbon footprinting services. […]
Read MoreWhile it is good news to see that Siemens’ shareholders have resolved to put the past firmly behind them, it is interesting to note the priorities of the Siemens’ PR team. In most markets, proxy voting disclosure has reached a high standard enabling analysts to see the turnout trends. A high quality disclosure would typically include the disclosure […]
Read MoreIn the UK legal landscape, the role of the auditor has a particularly important and specific role – not to aid efficient trading markets – but to support the stewardship of the company. With the increased regulatory focus on the role of shareholders in the stewardship process it is particularly apt timing that the UK’s Department of Business, Innovation […]
Read MoreIn the wake of several prominent companies – including Apple Inc. Exelon Corp., Duke Energy, PG&E and PNM Resources – dropping their memberships in the U.S. Chamber of Commerce or the National Association of Manufacturers over differences with these trade associations’ positions on climate change legislation, a group of 43 social investment organizations and funds […]
Read MoreConsultations and accounting news appears to be a bit like London buses, there’s not one for ages and then three of them arrive all at once. This week the FRC got busy with a slew of announcments, notably the Auditing Practices Board (APB) looking for input on the vexed issue of non-audit work for auditors. […]
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