Boards in the age of COVID-19
Audit reform, cyber threats, climate risk - these were some of the risks recently on board members’ minds until the impact of COVID-19 pushed them rapidly down the agenda.
Corporate governance is the system by which companies are directed and controlled. Find out more about corporate governance principles, codes and reports, Board subcommittees, roles and responsibilities and shareholder relations. Corporate governance involves balancing the interests of a company’s many stakeholders, such as shareholders, employees, management, customers, suppliers, financiers and the community. Getting governance right is essential to build public trust in companies.
The purpose of corporate governance is to facilitate effective, entrepreneurial and prudent management that can deliver the long-term success of the company.
To succeed in the modern world, businesses must move away from defensive old-style news management and corporate positioning. ICAEW argues that if companies embrace a positive approach to corporate governance that ensures they connect with and reflect society, they will reap many benefits.
A one-day CPD training course that examines in detail the principles of corporate governance in the UK and how they should be applied.
Company size doesn’t matter when it comes to successful corporate governance.
This ICAEW guide provides an overview of directors' duties and responsibilities, including on internal governance, transactions between a company and its directors or shareholders, and corporate administration. It also covers responsibilities in relation to insolvent or financially challenged companies, as well as penalties for breach of directors' responsibilities.
This article identifies the vulnerabilities for ICAEW members who act as a shadow or de-facto director.
On this page members of the Corporate Governance Community can find more information on the role of chartered accountants who act as non-executive directors
Audit Committees are playing an increasingly critical corporate governance role in terms of their leadership on financial reporting, internal controls, risk management and the internal and external audit functions.
This Corporate Governance Community webinar took place on 14 March 2019.
Excessive pay has been a growing source of public anger in recent years. Despite being snobbishly dismissed as populist prejudices, public perceptions of executive pay practices are largely accurate.
This practical guide outlines the eight steps to follow to conduct a successful internal audit of culture.
The revised code focuses on the crucial themes of stakeholder engagement, culture, diversity and remuneration.
The UK Corporate Governance Code (formerly known as the Combined Code) sets out standards of good practice for listed companies on board composition and development, remuneration, shareholder relations, accountability and audit. The code is published by the Financial Reporting Council (FRC).
The Wates Principles were published in December 2018 and gives guidance to large private companies that willhave to report their corporate governance arrangements from 1 January 2019. They can also be applied by companies outside of those included in the new legislative requirement.
The report ‘Financial Aspects of Corporate Governance Committee’ (usually known as the Cadbury Report) was published in December 1992 and contained a number of recommendations to raise standards in corporate governance. On this page you can access a selection of resources on the report.
The 2018 PwC Building Public Trust Awards took as their theme ‘celebrating openness’
Whistleblowing and shareholder responses to corporate governance failings were on the agenda at the 2018 AGM season. Here are the top 5 corporate governance stories of recent weeks.
Shareholder activism in UK quoted companies continues to be an important and topical issue. The context of this research is the investment scene in the UK and within this context over the last two decades it is clear that considerable change has taken place. The research report covers a variety of topics and provides an overview of some of the positive and negative implications of activism.
This title provides comprehensive, expert-led coverage of all aspects of corporate governance for public, nonprofit, and private boards. This section comprises four chapters on the subject of shareholder relations and shareholder activism.
In July 2019, ICAEW and Hermes convened a senior panel of remuneration committee chairs and investors to explore whether a new approach to executive pay is needed.
Beatriz Araujo & Jo Hewitt, Baker McKenzie and Joan Medland, PwC discuss the role and duties of directors.
Whistleblowing is central to a company’s system of checks and balances, It can help businesses to mitigate their risks, improve their culture, and ultimately increase their performance, argues ICAEW chief executive Michael Izza.
Designed to give investors, and other users, the ability to assess the financial integrity of a company, financial reporting and compliance with relevant reporting frameworks is an essential tool for holding management to account. More than this, high quality financial reporting can contribute to a strong and efficient economy by improving transparency and liquidity and thereby lowering the cost of capital.