Audit reform and corporate governance – our briefings on reforms to audit and corporate governance

As discussed in our last corporate update, BEIS has published its long-awaited consultation paper on audit and governance reform, Restoring trust in audit and corporate governance. It proposes fundamental reforms to the audit process, product and market. If implemented, the proposals would lead to considerable changes to the way that companies approach their financial statements … Read more

Corporate Governance Podcast: Episode 2 – The Government’s audit and governance proposals – impact on companies

In this podcast, we discuss the UK Government’s long awaited consultation paper on audit and governance reform with the Financial Reporting Council’s Kate O’Neill, Director of Stakeholder Engagement and Corporate Affairs, and Miranda Craig, Director of Strategy and Change. The consultation paper proposes some fundamental reforms in a number of areas in relation to audit, … Read more

Corporate governance – ethnic diversity on boards

The Parker Review has published its 2021 update on ethnic diversity on FTSE 100 boards, along with the results of its latest survey. The update notes that, whilst change remains slow in the key functional roles, significant progress has been made despite disruptions to board recruitment processes due to Covid-19. The government commissioned the Parker … Read more

Corporate governance – PLSA Stewardship Guide and Voting Guidelines 2021

The Pensions and Lifetime Savings Association (PLSA) has issued its Stewardship Guide and Voting Guidelines for 2021. The document sets out the PLSA’s views on current market best practice and its voting recommendations for AGMs in 2021. The key changes contained in the 2021 Guidelines are: Virtual shareholder meetings – The Guidelines state that, in … Read more

Hampton-Alexander Review update report

The Hampton-Alexander Review has published its five year summary report on improving gender balance in FTSE companies. The Hampton-Alexander Review was established in 2016 to hold FTSE 350 companies to account for the lack of representation of women in leadership positions, and set a target of having 33% of all board and senior leadership positions … Read more

Pensions – implications of the Pension Schemes Act 2021 for corporates

The Pension Schemes Act 2021 introduces significant reforms of the regulatory regime for defined benefit (DB) pension schemes. The Act introduces new criminal offences and civil sanctions which could be applied to company directors, lenders, investors, sellers, purchasers and advisers who take action which, broadly speaking, is materially detrimental to a DB scheme and where … Read more