FRC and FCA target new, rigorous stewardship regime, SRDII implementation begins, ESG resourcing questioned In the latest round of consultations and discussion documents, the UK’s governance and financial markets regulators have laid out their “substantially higher expectations for investor stewardship policy and practice.” Having engaged with 170 members of the investment community, the FRC’s proposed Code […]
Read More
The Institute of Directors (IoD) has called for tougher rules on executive pay, including greater transparency over the effect of share buy-backs, in its response to the Financial Reporting Council’s (FRC) consultation on the revised UK corporate governance code. The IoD has also suggested that remuneration committees at large listed companies should be made to report […]
Read More
The Labour Party has criticised the UK government’s choice of chair for its coalition group that will be developing corporate governance principles for private companies. James Wates CBE, chairman of Wates, a family-owned construction firm, chaired the first meeting of the group this week. The Guardian highlighted that the Wates company is a regular donor to […]
Read More
The UK’s Financial Reporting Council (FRC) has published the findings of a survey of its stakeholders in which many call for more transparency in its internal processes and state that its current enforcement activities are too slow. The FRC said it recognised that it needs to make improvements and accepted that investors wanted the regulator to […]
Read More
The UK’s Financial Reporting Council (FRC) has proposed a revised corporate governance code which it said is “shorter and sharper” than the existing code and builds on its work into corporate culture last year. The FRC said the revised code focused on the importance of long-term success and sustainability, addressed issues of public trust in […]
Read More
UK corporate reporting could still be improved through the disclosure of specific company rather than generic information according to the Financial Reporting Council (FRC). In its annual review of corporate reporting, the FRC said disclosures by large listed UK companies are generally good but detailed explanations and clarity could still be better. Improvements in recent years […]
Read More
The UK government is to require companies to publish pay ratios between chief executives – based on their total remuneration – and their average UK worker. This was among the actions outlined in the government’s response to its corporate governance green paper consultation which ended earlier this year. The government said that the pay ratio information: […]
Read More
The UK’s Financial Reporting Council (FRC) has begun a consultation on amendments to its guidance on the strategic report which aims to improve non-financial reporting by companies. The guidance was originally issued in 2014 when strategic reports were introduced. The revised guidance also reflects the FRC’s desire to improve the effectiveness of section 172 of the Companies […]
Read More
The quality of auditing of larger companies has improved after targeted work by the Financial Reporting Council (FRC) the regulator said. The FRC said the leadership of audit firms’ focus on, and investment in, improving audit quality, together with promoting a culture of continuous improvement, is beginning to pay off. In the audit regulator’s second annual Developments in […]
Read More
The quality of audits of FTSE 350 companies in the UK has steadily improved over recent years, according to the latest audit reviews undertaken by the country’s regulator, the Financial Reporting Council (FRC), however more work is needed to ensure improvements of audits of smaller companies. The FRC found that 81% of FTSE 350 audits reviewed […]
Read More