The Rt Hon Francis Maude

A review too far

“This report will enable the Government to learn from the introduction of the OFR about the process by which corporate governance regulations are and should be developed.”

Paul Moxey

Value added?

“The strongest agreement however was with the statement ‘it would be easier to create wealth if companies could give more attention to corporate governance performance than compliance with governance rules’.”

Neil Lerner

All change

“Today’s measures provide a sound platform for auditors, companies and investors alike to work together to strengthen financial reporting and corporate responsibility in the UK.”

Charles McCreevy

EU Company Law Action Plan

“The priorities we now set in the Action Plan must be conducive to entrepreneurship and making the most of the potential of the international dimension.”

Douglas Flint

Revised Turnbull Guidance

“Companies should not interpret our decision to make only limited changes to the Turnbull Guidance as a signal that there is nothing for boards to do.”

Alex Filatov

Update on Russia

“It has become clear that having independent members of the board of directors increases the investment appeal and market capitalisation growth of a company.”

David Phillips

British business DNA decoded

“This research reinforces the importance of leadership and effective management around the ‘soft assets’ of a business.”

Jean Roberts

Not for profit?

“Human dynamics in the not-for- profit sector are more intense and unpredictable than those in the commercial sector, and mainly for one reason - that the ‘bottom line’ is seen to be intangible.”

Richard Slynn

Opinion on liability

“The requirement on directors to make forward-looking statements which, of their nature, are more likely to turn out to be incorrect will undoubtedly cause concern for directors who are charged with responsibility for such statements.”

Jodie Thorpe

One company, two faces?

“... their focus is generally on defending often controversial positions rather than on how corporate responsibility and related policy activities can support core business strategies.”

Douglas Flint

Review supports Turnbull

“Boards and investors alike told us that the Turnbull Guidance has contributed to a notable improvement in the overall standard of internal control since 1999.”

Dr Gerhard Cromme

Changes to German Code

“We have again updated the Code in line with its basic principles of flexibility and self-responsibility and created even more transparency - in the interests of investors, companies, and Germany as a business location.”

Ian Mackintosh

Reporting standard issued on OFR

“The requirement to prepare an OFR should be seen as an opportunity for directors to present a clear and balanced analysis of the strategic position and direction of their business.”

Michael Nelson

SOX - friend or foe?

“SOX compliance ... is the beginning of an ongoing process of self-assessment, monitoring, improvement and ultimately leads to a control compliant, process improved organisation of benefit to all internal and external stakeholders.”

Peter Montagnon

A long way to go

“There is a long way to go to before shareholder democracy meets widespread acceptance in European markets. Making companies properly accountable to their owners reduces the need for intrusive regulation.”

Tom Lawton

The robust audit committee

“Systems and controls are what drive the financial data and reporting of a group. The audit committee needs to be satisfied that these are designed and operating effectively, particularly in areas that connect into management judgement.”

Kate Delahunty

IFRS - who should lead the way?

“...our research suggests that it is not the technicalities of IFRS adoption that are holding analysts back, rather the level of communication from companies.”

Paul Myners

Shareholder voting progress

“While it is encouraging to report a great deal of progress, there is still a lot of work which needs to be done... It is incumbent on all participants to take the necessary remedial action.”

Patricia Hewitt

Risk of legislation on pay diminishes

“The UK now has a corporate governance framework for directors’ pay that leads the world in terms of transparency and accountability.”

Virginia Bottomley

The value of diversity in the Boardroom

“The composition of the board sends messages to customers, clients, investors and employees.”

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