BusinessCompany NewsWalker Review sets sights beyond private equity

Walker Review sets sights beyond private equity

Private equity disclosure code should apply to other private businesses, too

The private business empires of Sir Philip Green and Sir Richard Branson
should be subjected to the same scrutiny and disclosure requirements as private
equity, Sir David Walker, who is leading a review of private equity rules, has
said

Speaking at a conference hosted by the ICAEW corporate finance faculty, Sir
David said that he saw no reason why private equity funds should be subjected to
additional regulatory burdens while the likes of Green and Branson, and
sovereign wealth funds such as Delta Two should not.

‘The engagement of sovereign wealth funds and “quasi” private equity is not
strictly within my remit, but I think it is something that we should work
towards and promote their commitment to the rules,’ Walker said.

Walker will release his final report on 20 November, where he will outline a
voluntary code of conduct for private equity and call for a model of
self-regulation.

It is expected that Walker will call for the industry to produce Business
Review-style narrative reports, while the companies they own will have to
produce accounts earlier than other private companies.

The Walker review is a response to growing pressure from unions and
politicians for the industry to be more transparent.

Further reading:

Private equity reporting load to
increase

Walker proposes non-execs for buyout
companies

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor