A study carried out by recruitment group Korn/Kerry International, which spoke to more than 1,300 directors in 15 countries, found that 87% of US company directors held meetings without their chief executive, compared with just 15% in the UK and 7% in France.
The survey also found US directors spend an average of 19 hours per month on board matters per company, up from 13 hours in 2001. In the UK, directors spend 25 hours a week on board affairs.
‘Regulations concerning governance have been enacted with never-before-seen swiftness. The definition of dedicated oversight now includes continuos improvement in corporate governance,’ the report said.
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements
Charles Tilley's departure from CIMA leaves the accounting world quieter, but his institute with an exciting foundation