The proposal, which comes from two high-flying professors at Harvard Business School, includes the key change of having the ‘transparency’ committee devote most of its time to assessing the effectiveness of a business’s performance indicators.
Writing in the Financial Times, professors Paul Healy and Krishna Palepu, say traditional audit committees are focused on a narrow set of responsibilities, do not meet often enough and generally do not have adequate financial knowledge.
The pair say committees should meet more and ‘ensure that more committee members are financially literate’.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned