FRC

Corporate Governance

27 Apr 2020 / Corporate Governance

AGMs – Best practice needs to evolve

There needs to be a review of the guidance on company AGMs. In these difficult and uncertain times it is vitally important that companies continue to engage with…

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Corporate Governance

27 Apr 2020 / Corporate Governance

Dividends – ShareSoc and UKSA send joint letter to FRC, FCA and BEIS

Many of our members are very concerned at the spate of recent dividend suspensions. Many members feel that private investors are much more concerned with the non payment…

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Consultations

26 Feb 2020 / Consultations

FRC Consultation on Draft Plan and Budget 2020 / 21

On 25th February 2020, in a joint ShareSoc/UKSA response we responded to the FRC request for comment as follows: Thank you for circulating the Draft Plan and Budget…

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Accounting and Audit

20 Dec 2019 / Accounting and Audit

Brydon Audit Review and FRC Update

Readers probably don’t need to be reminded of the poor reputation of auditors and accountants. The announcement yesterday from Staffline Group (STAF) reiterates the point. They note the…

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Accounting and Audit

12 Dec 2019 / Accounting and Audit

FRC Fines Grant Thornton £650k, Ted Baker and Tullow

A ShareSoc member emailed us to give his view: This is terrible. Why wouldn’t the FRC name the partner and the company involved, especially when Grant Thornton has…

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Blog

21 Nov 2019 / Blog

Retail Shareholder Participation in Voting – US study

Cliff Weight, ShareSoc Director reviews Retail Shareholder Participation in the Proxy Process: Monitoring, Engagement, and Voting: Working Paper N° 637/2019 November 2019: By Alon Brav, Matthew D. Cain, Jonathon Zytnick…

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7 Nov 2019 / Blog

FRC: Individual Shareholders Engagement Meeting 5 Nov 2019

This was an excellent event, well organised by the FRC with about 80 attendees from ShareSoc and the UK Shareholders’ Association. It is very reassuring to hear the…

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27 Oct 2019 / ShareSoc News

FRC New UK Stewardship Code and FCA response to DP19/1 Consultation

The UK Stewardship Code 2020 is (according to the FRC) “a substantial and ambitious revision” to the 2012 edition of the Code which takes effect from 1 January 2020. The…

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Blog

20 Oct 2019 / Blog

Woodford, Buffett Bot and FRC Survey

There was a very good article in the FT on Saturday on the “rise and fall of a rock star fund manager”, i.e. Neil Woodford. Essential reading for those…

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Regulations and Law

6 Aug 2019 / Regulations and Law

FRC Enforcement of its Rules

by Cliff Weight, ShareSoc Director Very belatedly, the FRC has substantially increased tough action to tackle poor quality audit. To me, these were the key words which showed that…

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Accounting and Audit

11 Jul 2019 / Accounting and Audit

Renold Accounts, Audit Quality and Abnormal Price Movements

Chain maker Renold (RNO) has provided the latest example of sloppy accounting work. On the 9th July it reported that it had identified accounting issues in the three…

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Accounting and Audit

29 Jun 2019 / Accounting and Audit

Redcentric (RCN) Campaign: Important Developments

There have been important developments in our campaign regarding the accounting scandal at IT service group, Redcentric. Firstly the FRC have moved at “lightning speed” (by their usually…

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