The Financial Reporting Council will tomorrow release its recommended revised guidance on internal control, but it is expected to stay clear of US-stlye stringent requirements.
Speaking at a corporate governance conference in London this morning, FRC chief executive Paul Boyle declined to provide details of what the Turnbull review group had recommended, but said: ‘We are detecting no appetite from investors for using their money to replicate Sarbanes-Oxley in the UK’.
It is anticipated that the review group, headed up by HSBC finance director Douglas Flint, will recommend some improvements to the original guidance published in 1999.
Those fearful that it would be used to introduce requirements similar to section 404 of Sarbox, which requires directors to make a judgement on the effectiveness of a company’s internal controls and auditors to pass opinion on that judgement, look to have had their concerns allayed.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016