How much more work should auditors do for quoted companies? How comfortable are shareholders with the potential for further dilution of the independence of the annual audit? We don’t have the answers immediately to hand, but responses to the Federation of European Accountants’ (FEE) latest discussion paper on the potential role of auditor’s assurance …… continue reading >>
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In the UK legal landscape, the role of the auditor has a particularly important and specific role – not to aid efficient trading markets - but to support the stewardship of the company. With the increased regulatory focus on the role of shareholders in the stewardship process it is particularly apt timing that the UK’s Department …… continue reading >> The Financial Reporting Council has welcomed the recommendations of The Walker Report and confirmed its committment taking ownership of the proposed Stewardship Code, subject to consultation. The FRC is set to issue a report on its own review of the impact and effectiveness of the Combined Code in early December, together with a …… continue reading >> There’s no small irony that Lloyds Banking Group will be asking 2.8 million private shareholders to back its £13.5 billion fundraising, the biggest deal of its kind in UK history, on the same day that Sir David Walker makes his final recommendations to Her Majesty’s Government on how the governance of the …… continue reading >> Environmental, social and corporate governance (ESG) factors can have a positive impact on portfolio returns, according to a growing body of academic research. In a new report, “Shedding Light on Responsible Investment: Approaches, Returns and Impacts”, investment consultants Mercer summarise and comment on sixteen academic studies, the majority of which (ten) show a …… continue reading >> Investors should be made to engage - or so it has been suggested. Speaking at last week’s CEIOPS conference (Committee of European Insurance and Occupational Pensions Supervisors) Patrick Brady, chair of the Joint Committee on Financial Conglomerates (JCFC), aired the idea that institutional investors should be mandated to engage. Coming in the week …… continue reading >> Leading international investors have settled terms with the auditors involved in the collapse of Italian diary giant which filed for bankruptcy protection in 2003. After the firm revealed a multi-billion Euro hold in its accounts, Parmalat became known as “Europe’s Enron”. To settle the claims, Grant Thornton and Deloitte have agreed payments …… continue reading >> |
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© 2012 Manifest - The Proxy Voting Agency | ISSN 1745 - 1132 | |
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