Writing in Accountancy Age, Sir Bryan advises companies to give their audit committees the resources they need and ensure they ‘have access to the advice and the services of the company secretary, as well as to independent professional advice’.
His warnings come as companies start the New Year knowing they will have to implement recommendations incorporated in the combined code on corporate governance. The code followed the Higgs review of non-executive directors and the Smith review of audit committees.
Meanwhile, companies have also been told they need to offer the right training to non-executives. Tim Copnell, director of the Audit Committee Institute, said: ‘Companies should offer and committees should insist on, the kind of training that will enhance their financial literacy.’
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