The UK Governance Code 2016 & Chairmen In its 2016 AGM results announcement, Sky plc suggested that shareholders voted against James Murdoch because of proxy analysts rather than facts surrounding Murdoch’s appointment. As a UK incorporated Plc, Sky’s governance arrangements fall under the remit of the UK Governance Code which is maintained by the Financial Reporting […]
Read MoreThe current economic downturn is encouraging issuers to review their audit arrangements with more pressure to delivery low cost audits says Ernst & Young’s audit chief, John Flaherty. According to reports in Accountancy Age tendering activity is at its highest level since the beginning of the new millennium. ‘We are seeing more driven on the […]
Read MoreSir David Walker’s review of the governance of UK banks, commissioned by Prime Minister Gordon Brown, has published 39 recommendations aimed at improving the governance of banks and other big financial institutions (BOFIs). The aim of the report was to find ways of minimising risky behaviour and improving the way companies and shareholder communicate and interact. Many of the […]
Read MoreThe UK’s audit watchdog, the Auditing Practices Board (APB) has issued its latest consultation paper with a view to updating its ethical guidelines on the vexed issue issue of auditor consultancy services. In the UK regulatory construct, the audit is produced for the benefit of shareholders and consulting for the benefit of management. Investors have long […]
Read MoreChrysalis is no stranger to director payoff issues, as reported in the Daily Telegraph last year. This year’s annual report is equally revealing. During 2008 Michael Connole received compensation for loss of office of £410,000, while Richard Huntingford received compensation for loss of office of £984,000. Following settlement of the legal dispute over the potential bonus due to […]
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