The Boardroom Blog

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‘Comply or explain’ is working, says FRC

Wednesday, December 14, 2011 | Posted by: Ben Langford
Categories: Governance, Stewardship Code, Thought Leadership | Tags: governance, FRC, Corporate Governance, FTSE 350, Corporate Governance Review, UK Corporate Governance Code, Stewardship Code, guidance, Turnbull, comply or explain, Financial Reporting Lab, institutional investors

The Financial Reporting Council (FRC), which oversees the UK’s corporate governance codes, released a new report today showing a strong uptake of new provisions among companies and shareholders. But the review also highlights some ongoing areas of concern…

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Corporate Governance Review 2011: Four areas for FTSE 350 to refocus on

Wednesday, November 23, 2011 | Posted by: Simon Lowe
Categories: Governance, Thought Leadership | Tags: governance, risk, Corporate Governance, Simon Lowe, FTSE 350, Corporate Governance Review, annual report, risk management, diversity, chairman, principal risks, comply or explain, annual reports, FTSE 100, FTSE 250

Our 10th annual Corporate Governance Review highlights the current trends and challenges that face the FTSE 350. While the UK’s top performing companies have made considerable achievements over the last decade, the review shows where the new focus areas lie.

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Highlights from the 2011 FTSE 350 Corporate Governance Review

Wednesday, October 26, 2011 | Posted by: Simon Lowe
Categories: Governance | Tags: governance, FRC, compliance, FTSE 350, Board, diversity, chairman, comply or explain, auditor, Davies report, transparency, effectiveness, internal control

Discover the key findings on compliance, board diversity, remuneration and other governance issues in our FTSE 350 Corporate Governance Review, published next month.

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The future of narrative reporting

Thursday, October 13, 2011 | Posted by: Simon Lowe
Categories: FRC, Governance | Tags: governance, FRC, Corporate Governance, Simon Lowe, FTSE 350, Corporate Governance Review, financial reporting, BIS, annual reports, IIRC, Ben Langford, narrative reporting

Government plans to rationalise the structure, format and content of annual reports are aimed to improve clarity for investors.

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What’s new for FDs in 2011

Friday, May 06, 2011 | Posted by: Fiona Cullinan
Categories: FRC, Governance, Thought Leadership | Tags: governance, report, FD, CFO, pensions, finance director, Bribery Act, financial reporting, anti-corruption, IFRS, guide, news, UK GAAP, iXBRL, auto-enrolment, regulatory

Are you a finance director? Here’s a quick guide to all the new financial reporting issues and regulatory changes set to impact private and listed companies this year.

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Corporate governance framework for European companies: what needs to be improved?

Tuesday, April 12, 2011 | Posted by: Fiona Cullinan
Categories: Governance | Tags: governance, Corporate Governance, Simon Lowe, Board, women, gender, UK Corporate Governance Code, diversity, Europe, guidance, comply or explain, debate

Last week the European Commission launched a public consultation into European corporate governance, its effectiveness and possible ways forward. On the discussion agenda are board effectiveness, gender diversity, short-termism and the failure of self-regulation prior to the economic crisis. Read on to join the debate.

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Essentials unravelled for non-executive directors

Tuesday, April 05, 2011 | Posted by: Fiona Cullinan
Categories: FRC, Governance, Non-executive director, Thought Leadership | Tags: tax, governance, report, FRC, Board, pensions, Bribery Act, financial reporting, UK Corporate Governance Code, NEDs, NED, FRRP, iXBRL, guidance, auto-enrolment

What issues will be topical during the current reporting cycle for private and non-listed companies? And what are their wider business concerns? Grant Thornton’s new guide helps non-executive directors (NEDs) understand the issues.

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New guidance on what makes an effective board

Tuesday, March 22, 2011 | Posted by: Fiona Cullinan
Categories: FRC, Governance | Tags: governance, FRC, Board, women, gender, UK Corporate Governance Code, diversity, succession planning, NED, guidance, chairman, Higgs, composition

The long-awaited replacement of the Higgs Guidance was released this month. So what do you need to know?

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Eight key changes in UK Corporate Governance Code

Thursday, February 17, 2011 | Posted by: Fiona Cullinan
Categories: Governance, Research | Tags: governance, FRC, FTSE 350, Board, non-executive director, women, gender, remuneration, UK Corporate Governance Code, diversity, NED, bonuses, chairman, Turnbull

In the fast-changing landscape of UK corporate governance, what are the key recent changes that UK boards need to be aware of?

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Six ways to improve your principal risk reporting

Wednesday, February 09, 2011 | Posted by: Fiona Cullinan
Categories: FRC, Governance, Risk | Tags: governance, risk, FRC, compliance, financial, annual report, disclosure, FRRP, business review, principal risks, reporting, directors' report

Many companies are not being clear enough when reporting the principal risks and uncertainties facing their business, said a concerned Financial Reporting Review Panel last week. What steps can businesses take to improve compliance?

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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, reward, executive, incentivise, results

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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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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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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How to assess your risk strategy – a checklist

Thursday, October 14, 2010 | Posted by: Fiona Cullinan
Categories: Risk, Thought Leadership | Tags: business, recession, governance, risk, strategy, tips, risk management, questionnaire, tools, questions

This set of expert questions, asked by Grant Thornton’s risk services team, is designed to trigger a full and in-depth boardroom discussion on the quality of your risk management processes.

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Tool: Assess your company’s risk maturity level

Thursday, September 23, 2010 | Posted by: Fiona Cullinan
Categories: Risk | Tags: business, recession, governance, survey, report, risk, business models, data, Simon Lowe, risk management, questionnaire, Business Risk Services, tools, Strategy

Our recent business risk report shows widespread complacency in company risk management processes. Check the risk maturity of your organisation with our quick online assessment tool.

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Risk management: learning from recession mistakes

Wednesday, September 22, 2010 | Posted by: Fiona Cullinan
Categories: Risk | Tags: business, recession, governance, survey, report, risk, strategy, business models, data, Simon Lowe, risk management, questionnaire, Business Risk Services, tools

Why did so many risk processes fail to protect companies from the worst of the global downturn? And how can senior managers approach risk management afresh to help protect their business in future? Our latest research report has the answers. Plus, check out our tool to assess your own company’s risk maturity.

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Growing clash between front-end spin and back-end data in annual reports, says FRRP

Thursday, August 26, 2010 | Posted by: Fiona Cullinan
Categories: FRC, Governance, Risk | Tags: governance, risk, FRC, Simon Lowe, financial reporting, FRRP, audit, accounts, internal, external

Inconsistencies in annual reports between the corporate narrative and the external audit figures are becoming more of a focus for the Financial Reporting Review Panel (FRRP). The problem was highlighted in its annual report, out last week: of the 308 companies reviewed, 146 had been approached by the FRRP for further information or explanation.

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Boards need to improve their decision making process - have your say

Friday, August 06, 2010 | Posted by: Grant Thornton
Categories: FRC, Governance | Tags: governance, FRC, Corporate Governance, Simon Lowe, Board, UK Corporate Governance Code, NED, ICSA, Financial Reporting Council

A well designed decision making process is one of the most important characteristics of an effective board.  As such boards should not allow themselves to be influenced by a dominant personality or have “no go” areas for non-executives.

Ask yourself - is such a situation familiar to you?

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