In its latest annual Corporate Governance Review of Irish-listed companies,
Grant Thornton has found that half of the country’s publicly listed companies
are not fully compliant with the governance code.
Currently, full compliance with the code is not required under legislation,
which means that companies can ‘cherry pick” parts with which to comply. It is
voluntary for private companies.
Paul Raleigh, managing partner with Grant Thornton in Dublin said the code
was ineffective if certain key aspects are not required under law. At the bare
minimum, there should be a basic requirement for independent audit committees
supported by a framework of effective sanctions for non-compliance.
In addition, Raleigh said the chairman and chief executive of a company
should be directly accountable for good corporate governance and transparency in
He is also calling for a limit on the number of public company boards on
which individuals can sit as non-executive directors.
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
Smaller businesses could be excluded from government plans for making business transactions digital, found new research from ICAEW
Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live