Podcast: Private Funds Update: The UK Stewardship Code 2020
In this edition of UK Equity Capital Markets Insights, we report on legislative proposals to simplify and streamline directors’ remuneration reporting; updated and consolidated guidance from the UK Financial Reporting Council...more
Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss...more
Hong Kong’s audit regulator, the Accounting and Financial Reporting Council (AFRC) says it has reached a landmark agreement to help it obtain audit working papers of Public Interest Entity (PIE) auditors located on the PRC...more
Following the May 2023 consultation on the UK Corporate Governance Code (“Code”), the FRC has published a revised Code. The changes focus primarily on one area - Internal Controls whilst other changes have been kept to a...more
Following a series of accounting and audit scandals in recent years and what has been described as a “crisis of trust”, the UK Government, regulatory bodies, and institutional investor groups have set out to reform the UK’s...more
Individuals continue to face risk from prosecutions for economic crime, despite media focus on corporate criminal liability reforms. Four individuals have today appeared at Westminster Magistrates’ Court charged with fraud...more
Our inaugural issue focuses on a truly transnational and important rule of law: the attorney-client privilege and related protections against disclosure. While this is a topic common to all areas of law, the tax arena at...more
The relationship between a business and its auditor often requires privileged material to be passed to the auditor to enable it to properly understand the financial risks to the business of existing and potential litigation....more
The Financial Reporting Council has had a busy week. It has published its plans for changes at the Big 4 accountancy firms, and further evidence of its enforcement success on failed audits in Conviviality and Autonomy has...more
In its March guidance for auditors, the UK Financial Reporting Council (FRC) recognised the practical difficulties some companies and auditors are facing in preparing accounts and carrying out audits. The FRC highlighted the...more
On 16 March 2020, the UK Financial Reporting Council (FRC) issued updated guidance for auditors which may be facing practical difficulties in carrying out audits as a result of the COVID-19 pandemic....more
Sports Direct has successfully appealed a problematic first instance decision that allowed the Financial Reporting Council (FRC) access to privileged communications. The judgment provides welcome confirmation to companies...more
The recent case of Financial Reporting Council Limited v Sports Direct International Plc1 serves as a reminder of the tension between companies wishing to protect privileged information and auditors receiving and relying upon...more
The Financial Reporting Council (FRC), the regulatory body for accountants, auditors and actuaries in the UK, was allowed access to privileged material of a client of an auditor under investigation....more