In preparation for the year ahead, audit committees should prepare for an expanding array of responsibilities and actively seek education that will contribute to audit quality and the integrity of financial reporting. Below are five key areas, according to BDO, that should be top of mind for audit committees in the coming year.
Read this resourceThis paper from the FRC sets out their views on what conducting a good audit should look like.
Read this resourceBased on the findings of their 2021 Tax Outlook Survey, BDO offer these top tax considerations for boards as an understanding of the need for emerging tax technology given changing regulations and the shifting tax landscape is more necessary than ever to keep up with evolving complexities.
Read this resourceThe Department for Business, Energy and Industrial Strategy (BEIS) has launched its white paper to reform the UK’s audit, corporate reporting and corporate governance system. This is the response to the three independent reviews by Sir John Kingman, Sir Donald Brydon and the Competition and Markets Authority. It includes measures to enhance the quality of…
Read this resourceThe Financial Reporting Council (FRC) has issued advice for companies on how to report transparently and effectively when departing from certain provisions of the UK Corporate Governance Code. ‘Tick-box compliance’ continues to be preferred over high quality reporting of good governance practice. Analysis, of a random sample of 100 companies, found that too many companies…
Read this resourceThis checklist, from Norton Rose Fulbright, is intended to help UK-listed companies keep abreast of key developments in the fast-moving areas of corporate governance and narrative reporting. It sets out their thoughts on some of the main areas of change during the last few months, as well as a list of key developments by area,…
Read this resource5 ways to change the AGM for the better In January ShareAction published its thought leadership paper about the future of the AGM – based on their experiences of AGMs over the past few years and those held last year during the start of the pandemic. Here are five ideas from ShareAction’s vision for the…
Read this resourceFor almost 20 years, the Grant Thornton Corporate Governance Review has examined how the reporting of applied governance practices has evolved among FTSE 350 companies. With the new UK Corporate Governance Code starting to bed in and COVID-19 acting as a catalyst, this year’s review captures a snapshot of a changing world.
Read this resourceAuditors must redouble their efforts to remedy inconsistent audit quality, which has become even more important in the face of the unprecedented economic turbulence brought by Covid-19, the Financial Reporting Council (FRC) has urged in its Developments in Audit 2020 report.
Read this resourceCOVID-19 continues to dominate financial reporting. Organisations have to balance the unprecedented situation while providing timely information to capital markets. As always, investors are firmly focused on the future. They are looking past 2020 and even 2021, assessing companies’ prospects in the medium-term as the world eventually recovers from the pandemic. Yet that assessment will…
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