The Boardroom Blog

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Bribery Act debate: Adequate procedures?

Monday, February 07, 2011 | Posted by: Grant Thornton
Categories: Corruption | Tags: FTSE 350, Bribery Act, bribe, robust internal controls, associated persons, adequate procedures

Sterl Greenhalgh, partner and head of Grant Thornton’s anti-corruption group, talks about adequate procedures and how businesses are not struggling to understand what they are, but cites aspects of the legislation such as ‘associated persons’ as areas causing UK business the most problems.

Download our guide ‘Navigating the Anti-Corruption Maze’ to assist you in understanding the risks and how to implement an appropriate system of adequate procedures in your business

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Bribery Act debate: When is corporate hospitality not corporate hospitality and other grey areas?

Monday, February 07, 2011 | Posted by: Grant Thornton
Categories: Corruption | Tags: Bribery Act, private banking, FCPA, sponsorship, facilitation payments, grease payments, anti-corruption legislation, Formula 1, Transparency International, adequate procedures, financial services, business gifts, public officials, anti-corruption programs, corporate hospitality

Christophe Amez, Dow Jones Risk & Compliance, highlights some of the frustrations companies are facing - citing 65% of businesses questioned by Dow Jones, as delaying or abandoning all together new initiatives because of lack of clarity around anti corruption legislation.

Nicola Bonucci, OECD’s director for legal affairs and Sterl Greenhalgh, partner and head of Grant Thornton’s anti-corruption group, address the issues of what constitutes ‘lavish’ corporate hospitality and facilitation payments

Download our guide ‘Navigating the Anti-Corruption Maze’ to assist you in understanding the risks and how to implement an appropriate system of adequate procedures in your business

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Bribery Act debate: Facilitation payments & the US Foreign Corrupt Practices Act (FCPA)

Monday, February 07, 2011 | Posted by: Grant Thornton
Categories: Corruption | Tags: Bribery Act, OECD, gifts, FCPA, bribe, hospitality, facilitation payments, anti-bribery, government officials, anti-corruption culture

Can British companies complying with the FCPA be in conflict with the UK Bribery Act?  David Lorello, partner, Steptoe & Johnson, Nicola Bonucci, OECD’s director for legal affairs and Sterl Greenhalgh, partner and head of Grant Thornton’s anti-corruption group, discuss how companies can reconcile possible conflict.

Download our guide ‘Navigating the Anti-Corruption Maze’ to assist you in understanding the risks and how to implement an appropriate system of adequate procedures in your business

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Bribery Act debate: Why are we where we are? The real impact of corruption.

Monday, February 07, 2011 | Posted by: Grant Thornton
Categories: Corruption, Risk | Tags: Bribery Act, OECD, bribe, final adequate procedures guidance, facilitation payments, City of London Police Overseas Corruption Unit, anti-bribery, white collar crime, growth review, facilitation, Coalition Government, overseas embassies, Haiti, Anti-corruption

Bribery is more than just a white collar crime.  Nicola Bonucci, OECD’s director for legal affairs, explores the public policy issues associated with bribery and emphasises the message that the Bribery Act is good for clean businesses who want to compete on a level playing field.

Sterl Greenhalgh, partner and head of Grant Thornton’s anti-corruption group, picks up on whether UK Government is providing enough support to business.

Download our guide ‘Navigating the Anti-Corruption Maze’ to assist you in understanding the risks and how to implement an appropriate system of adequate procedures in your business

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Bribery Act debate: Enforcement - will it be taken seriously?

Monday, February 07, 2011 | Posted by: Grant Thornton
Categories: Corruption, Non-executive director, Risk | Tags: M&A, CFO, due diligence, Bribery Act, bribery, Companies Act, non-executive directors, G20, board of directors, corruption risk assessment, Transparency International, Proceeds of Crime Act, enforcement, growth review, infrastructure projects, collective action, BAE Systems, risk assessment, World Bank, Adequate procedures

What guarantee is there that enforcement will be taken seriously?  Panel members discuss not only trends in enforcement but the commercial efficiencies of having systems in place to prevent bribery.

Download our guide ‘Navigating the Anti-Corruption Maze’ to assist you in understanding the risks and how to implement an appropriate system of adequate procedures in your business

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Who won at last night’s Quoted Company Awards 2011?

Thursday, January 27, 2011 | Posted by: Fiona Cullinan
| Tags: Grant Thornton, awards, Quoted Company Awards, shortlist, QCA, winners

Last night saw the annual Grant Thornton Quoted Company awards take place at the Natural History Museum in London. This prestigious event, now in its seventh year, is aimed at smaller quoted companies and entrepreneurs, recognising their achievements in the UK marketplace.

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Executive salaries and bonuses – time to take stock

Monday, January 10, 2011 | Posted by: Fiona Cullinan
Categories: Governance, Thought Leadership | Tags: governance, economy, talent, incentives, remuneration, salaries, performance, salary, bonuses, share options, pay, shareholders, executive, reward, incentivise, results

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FTSE 100 director bonuses fell by 30% last year but have jumped 22% this year. Basic salaries and share incentives are also up. Are the good times back? Damon Syson reviews the lie of the land for executive salaries.

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UK finance directors report on their key priorities

Wednesday, January 05, 2011 | Posted by: Fiona Cullinan
Categories: Thought Leadership | Tags: statistics, investment, survey, report, risk, data, FD, advice, Directorbank, CFO, talent, finance director, analysis, skills

If you could ask a fellow finance director for their advice in the current economy, what do you think they would say? A number of outstanding finance directors shared their views in Grant Thornton’s FD survey, researched in conjunction with Directorbank.

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Best of the Boardroom blog 2010

Wednesday, December 22, 2010 | Posted by: Fiona Cullinan
Categories: Research | Tags: links, Corporate Governance, Corporate Governance Review, blog, best, 2010, NEDs, NED, Boardroom

NEDs, anti-corruption, risk issues and more… here are our top 10 posts of the year for thinking people on the board.

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Risk, age and the adrenaline rush of taking over a company – exclusive with Luke Johnson

Thursday, December 16, 2010 | Posted by: Fiona Cullinan
Categories: Risk | Tags: business, entrepreneur, risk, CEO, interview, Luke Johnson, food

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We’ve posted a lot about risk management recently with our report A new risk equation? Safeguarding the business model. But, of course, it’s important to remember that risk is also a vital part of what makes a business grow. No one knows this more than Luke Johnson, the man who turned Pizza Express into a household name. Here he talks about measured risk – and why we should embrace it more as we get older.

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Interview Part 2: Professor Sandra Dawson, on governance in charities

Monday, December 13, 2010 | Posted by: Simon Lowe
Categories: Governance, Non-executive director | Tags: governance, risk management, charitable boards, risk committees, non-execs, charities

In Part 2 of our interview, Professor Sandra Dawson, non-executive director at the FSA and Oxfam, talks of her experience of governance in the commercial and charitable worlds.

Can boards of charities learn more about governance from the corporate world?

 

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Interview Part 1: Professor Sandra Dawson, on good governance

Monday, December 13, 2010 | Posted by: Simon Lowe
Categories: Governance, Non-executive director | Tags: governance, FRC, NED, Higgs, FSA, Sir David Walker, board evaluation, Code, non executive director, independence

In Part 1 of our interview, Professor Sandra Dawson, non-executive director at the FSA and Oxfam, draws on her considerable experience to share with us her thoughts on board effectiveness, diversity and what makes a good NED.

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The governance landscape is changing - are you ready?

Friday, December 10, 2010 | Posted by: Simon Lowe
Categories: Governance, Research, Thought Leadership | Tags: FTSE 350, board, UK Corporate Governance Code, Stewardship Code, chairman, governance,

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Our 2010 FTSE 350 Corporate Governance Code highlights key issues in governance trends in the UK’s leading companies and assesses whether they are prepared for the requirements of new governance guidance

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Cream of the crop: the Grant Thornton Quoted Company Awards 2011 shortlist

Friday, December 10, 2010 | Posted by: Fiona Cullinan
Categories: Thought Leadership | Tags: Grant Thornton, awards, Quoted Company Awards, shortlist, QCA

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The Grant Thornton Quoted Company Awards in January is the first big business and networking event of the year. So what is it all about and who are this year’s contenders?

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How should an FD be incentivised?

Wednesday, December 08, 2010 | Posted by: Fiona Cullinan
Categories: Research, Thought Leadership | Tags: statistics, survey, report, data, FD, Directorbank, CFO, talent, incentives, finance director, analysis, private equity, skills, stake, Plc

There were some differences in how the directors thought an FD should be incentivised, against the views of the outstanding FDs themselves, according to Grant Thornton’s recent survey, researched in conjunction with Directorbank

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How does private equity drive FD behaviours?

Thursday, December 02, 2010 | Posted by: Fiona Cullinan
Categories: Research, Thought Leadership | Tags: statistics, survey, report, data, M&A, FD, advice, Directorbank, CFO, investors, finance director, analysis, private equity, skills, shareholders, risk attitude

Private equity remains a significant part of the UK economy and is often under the microscope. It remains a dominant force in the M&A market. In our survey of 350 directors, we asked whether having a stake in a private equity business drives different behaviours – 70% of them said that it does.

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How does an FD gain commercial skills?

Wednesday, December 01, 2010 | Posted by: Fiona Cullinan
Categories: Research, Thought Leadership | Tags: statistics, survey, report, data, FD, advice, Directorbank, CFO, talent, finance director, analysis, skills, commercial, experience

Understanding the business and getting as much commercial exposure as early as possible is critical for becoming a successful FD, according to Grant Thornton’s recent survey, researched in conjunction with Directorbank. But how? A number of outstanding finance directors share their views…

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Unsung heroes: Grant Thornton and Directorbank recognise outstanding FDs

Wednesday, November 24, 2010 | Posted by: Fiona Cullinan
Categories: Research, Thought Leadership | Tags: Grant Thornton, survey, report, data, CEO, FD, Directorbank, interview, CFO, finance director, video, analysis, Swag Mukerji, John Pearce, Roger Matthews, chair, repor

Finance directors aren’t normally the face of the company, or even seen as big names of the business world, yet it’s often the case that they are the beating heart of a successful company. Our recent What makes an outstanding FD? report, researched in conjunction with Directorbank, highlights that it’s time their worth is recognised. We also interview three directors – including Directorbank’s MD John Pearce (below) who talks about the growing importance of the finance director’s role .

 

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Comparing corporate governance in India and the UK

Wednesday, November 17, 2010 | Posted by: Fiona Cullinan
Categories: Governance, Thought Leadership | Tags: business, India, investment, governance, risk, FRC, M&A, bribery, Stewardship Code, anti-corruption, banking crisis, scandals

Corporate scandals involving companies like the Maxwell Group, Enron, WorldCom and Satyam, and the recent banking crisis, have influenced the corporate governance norms in the US, the UK and India. Our recent India Watch article examines the key differences between the corporate governance regimes in both the UK and India.

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Changing face of risk management in the UK / Ireland

Wednesday, November 17, 2010 | Posted by: Fiona Cullinan
Categories: Risk | Tags: business, recession, governance, survey, report, risk, strategy, business models, data, UK, risk management, Ireland, appetite, attitudes

Risk appetite statements are a growing trend in the UK, while 84% of surveyed companies in Ireland are changing how they view risk, according to our recent report. Here, two experts from Grant Thornton, review the changing approaches to risk in the UK and Ireland post-recession.

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