FRC: We should have moved more quickly on KPMG/HBOS audit inquiry

By Kevin Reed

Accountancy’s watchdog tells Treasury Select Committee it should have been more proactive in delving into KPMG’s audit work of HBOS—but lessons have been learned.

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London Stock Exchange struck by leadership crisis after CEO quits

By Gavin Hinks

Xavier Rolet’s immediate departure from the London Stock Exchange Group, and news that its chairman will not stand for re-election, deepens its clash with investors over governance.

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Are directors courting legal action by keeping quiet on climate risk?

By Alice Garton

In Australia recently, shareholders filed legal action against Commonwealth Bank—it had allegedly failed to disclose climate risk accurately. Could this be the first of many such cases? How should directors report on climate change risks in the face of an uncertain future?

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Every board has a role in the transition to a low-carbon economy

By Tom Delay

Climate change has placed a premium on moving to sustainable business models and a low-carbon economy. The task will need “positivity of purpose“ and “informed assessment“ of climate risks, writes Tom Delay of the Carbon Trust.

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Investor ire sees Sir Mick Davis’s Rio Tinto chairmanship plan shelved

By Kevin Reed

Rio Tinto backtracks on plan to appoint Sir Mick Davis as chairman, after an influential group representing a large tranche of shareholders expresses concern.

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Industrial strategy calls for improved reporting of capital allocation

By Gavin Hinks

Better reporting is needed to support “long-term” investment, says the UK government, but it is criticised for failing to mention human capital in its long-anticipated Industrial Strategy.

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Investors seek more ‘comprehensive information’ on risks

By Gavin Hinks

Financial Reporting Lab reveals that risk reporting has improved but investors want to know whether disclosed risks are general or “specific” to the company.

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