STRENGTHENED BOARDROOM diversity rules will require listed companies to report on progress made in changing the traditional boardroom demographic.
Changes to the Financial Reporting Council’s UK Corporate Governance Code build upon the diversity principle first introduced in June 2010.
Chairman Baroness Hogg (pictured) said gender diversity strengthens board effectiveness by reducing the risk of “groupthink”, better exploiting the talent pool and keeping companies in touch with their customers.
“The changes we are announcing today, which were strongly supported in our consultation, will reinforce the code’s principles by requiring companies to report on measurable objectives and progress in this important area. We believe this gives a further opportunity to show that Britain’s “comply or explain”, code-based approach can deliver a flexible and rapid response and is therefore preferable to detailed legal regulation, and we urge companies to demonstrate this as quickly as possible,” she concluded.
Improvements to cashflow statements are being targeted in a consultation launched by the Financial Reporting Council (FRC)
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Board members of accounting standard setter the IASB have come under fire for the size of their remuneration packages amid scrutiny of how the organisation is governed
THE accounting watchdog has launched disciplinary formal complaints against KPMG over its audit of a Lloyd’s of London syndicate Equity Red Star