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27 July 2015

So what is the purpose of business?

By Gilly Lord, Head of Regulatory Affairs at PwC Follow @gillylord It was the hottest day of the year and temperatures rose even further during the heated debate at our Question Time event: ‘Maximising Shareholder Value - Responsible or Reckless?’. As a partner in PwC’s Assurance business, I’ve built my...

Going concern and viability: one process, two statements

By John Patterson, Corporate Governance Consultant at PwC Looking at the 2014 Code, it’s easy to see the going concern confirmation as a bit of a non-event in the new framework around risk and viability. The fact that the statement is now precisely aligned with the accounting (and auditing) standard...

26 July 2015

Perfect poolside reading: PwC's 5 stage approach to implementing integrated reporting

By Superna Khosla, Integrated Reporting Policy lead at PwC Your families might not be quite so thrilled to see this sitting at the top of the summer holiday reading list, but for anyone keen on the latest integrated reporting news our guide, Implementing Integrated Reporting: PwC's practical guide to a...

21 July 2015

ESMA makes APMs an even hotter topic

By Jennifer Sisson, Responsible for investor engagement at PwC Follow @jenlsisson The reporting of alternative performance measures (APMs) is a hot topic for a good reason. In our recent review of the FTSE100, 99% of companies reported an adjusted earnings APM – and that’s just one of the measures typically...

20 July 2015

Boards must navigate an uncertain path

By Gilly Lord, Head of Regulatory Affairs at PwC Follow @gillylord Any General Election brings an inevitable air of the unknown, but even with that now behind us – and with a more definitive result than anyone predicted – ironically there’s still a lot of uncertainty for company boards. Our...

13 July 2015

The 2014 Code: priority areas for the review of effectiveness

By John Patterson, Corporate Governance Consultant at PwC Very few companies have opted to adopt the 2014 UK Corporate Governance Code early. Interestingly, with so much of the attention around the new Code focused on the viability statement, the need to review the effectiveness of risk management and internal control...

03 July 2015

Trends in Tax Transparency

By Janet Kerr, Tax Transparency & Total Tax Contribution at PwC Who in your organisation has an interest in tax transparency and has spent some time over the last year thinking about your public tax disclosures? The answer to this question lies increasingly outside the tax department, a response to...

01 July 2015

Viability statements: a work in progress

By John Patterson, Corporate Governance Consultant at PwC Although there’s been no great rush to adopt the 2014 UK Corporate Governance Code early, we’ve now seen some viability statements in published annual reports from, amongst others, Derwent London, BAE Systems, Lancashire Holdings and ICG – three quite different FTSE 350...

24 June 2015

Maximising shareholder value: responsible or reckless?

By Gilly Lord, Head of Regulatory Affairs at PwC Follow @gillylord What is the purpose of business? To maximise returns on the equity invested by shareholders? Or is this a reckless interpretation of the capitalist model? Should business take account of the needs of different groups of stakeholders? What should...

16 June 2015

‘Robust assessment’ – the keystone of the 2014 Code framework?

By John Patterson, Corporate governance consultant at PwC We’re talking to lots of organisations and their clients about the 2014 Corporate Governance Code, particularly about the general levels of awareness and responsibility needed to respond well. But one area that’s raising many questions is the provision that requires directors to...