*/ /*–>*/ The London-based Institute of Risk Management (IRM) has released draft guidance aimed at helping organizations to determine, quantify, and communicate how willing they are to take risks. The guidance explains how an organization can determine its risk appetite and what role its board of directors should play in the process. The IRM says […]
Neil Baker
Posted inAccounting & Auditing
Accountants Get Help to Predict Future
*/ /*–>*/ The International Federation of Accountants has published draft guidance aimed at helping organizations to make better use of forward-looking business analytics. The guidance sets out seven guiding principles for designing such tools and thoughts on how to implement them. Among the principles, predictive analytics should be: relevant, timely, and reliable; supported by high-quality […]
Posted inFrom the Archive
Criminals Only Winners From British Fraud Plan
*/ /*–>*/ The U.K. government is coming under further pressure to abandon controversial plans to scrap the Serious Fraud Office, the agency responsible for prosecuting high-profile financial crimes. A break-up of the SFO would be “a wholly unwise and dangerous move” that would only benefit criminals, according to the Fraud Advisory Panel, a grouping of […]
Posted inTechnology
Compliance Tops Global List of IT Worries
*/ /*–>*/ Regulatory compliance will be the number one information technology (IT) issue affecting big companies over the next 12-18 months, according to a new survey. Concerns about IT governance come a close second. Tougher regulations, the increased threat of data security breaches and new technologies such as cloud computing will increase both the scale […]
Posted inAnti-Bribery
U.S. Execs Lack Bribery Act Knowledge
*/ /*–>*/ Three quarters of U.S. business professionals do not know enough about Britain’s tough new anti-bribery laws, even though they take effect in less than three months, according to a survey from Deloitte. The firm said the Bribery Act was likely to be the biggest regulatory change in global anti-corruption law since the U.S. […]
Posted inFrom the Archive
Australian Regulator Wants Clearer Prospectus Disclosures
*/ /*–>*/ Australia’s securities regulator has proposed new rules to make corporate prospectuses easier to understand and to improve the risk information they provide. The Australian Securities & Investments Commission (ASIC) said the overhaul was needed so investors had a “full picture” of the opportunity being offered them. It said too many prospectuses were too […]
Posted inFrom the Archive
France Cracks Down on Proxy Firms
*/ /*–>*/ France has taken further action to control the growing influence of proxy advisory firms. The country’s financial regulator told firms to disclose more information about how they operate and said similar rules should be introduced at a European level. A formal “recommendation” from the Autorité des Marchés Financiers (AMF) said firms must reveal […]
Posted inAccounting & Auditing
Britain Tries to Cut Reporting ‘Clutter’
*/ /*–>*/ Efforts to simplify Britain’s complex financial reporting environment continued this week with guidance to help companies “cut the clutter” from their annual reports. The Accounting Standards Board, part of the Financial Reporting Council, said its report, “Cutting Clutter: Combating Clutter in Annual Reports,” would give companies practical aids for reducing and simplifying their […]
Posted inEurope
Europe Sets Course for Tougher Governance Compliance
*/ /*–>*/ The European Commission will adopt a much tougher approach to corporate governance if it goes ahead with ideas floated in a new policy paper. One particularly controversial proposal is for stricter enforcement of the “comply or explain” method of governance that operates in many European Union member states. Under this approach, companies that […]
Posted inAnti-Bribery
Bribery Act Guidance Retreats, Still Fails to Deliver Clarity
The British government has finally given prosecutors the green light to start enforcing the country’s tough new Bribery Act starting July 1—and also given eagerly awaited guidance to corporate compliance departments suggesting that the anti-corruption law may not be enforced so toughly. The guidance, published last week, appears to retreat from the Bribery Act’s originally […]
