Turner Corporate Governance

A practical guide for accountants
1. Auflage 2009
ISBN: 978-0-08-094213-1
Verlag: Elsevier Science & Techn.
Format: EPUB
Kopierschutz: 6 - ePub Watermark

E-Book, Englisch, 197 Seiten

This book will provide a user-friendly guide to current and emerging issues in corporate governance, especially for accountants and directors. The book explains terminology used in a jargon free way, and sets out to give you a practical guide to establishing a robust, yet workable governance framework for your enterprise.
The book also guides you through the process of dealing with the particular issues relating to listed companies, and to those with exposures in other countries which may bring other jurisdictions? governance requirements to bear.
The book is intended to appeal to accountants who are not professionals in corporate governance matters. It therefore aims to give them a user-friendly manual/guide to the issues of which they need to be aware. A quick reference guide. In addition the book provides a valuable update on the evolution of the concept of governance, and where the international trends appear to be going.
The author is a financial services and regulatory consultant. She is also Manager, Corporate Governance for an international life company, and also an examiner and moderator who lectures and writes extensively on a wide range of compliance and financial services matters.
The book is organised into the following sections.
Section 1: what is corporate governance? How has it evolved, and what are the emerging trends?
Section 2: a practical guide to establishing and implementing a robust governance framework
* covers the concept of Corporate Governance from the point of view of accountants and directors and what these groups need to be aware of
* explains the sensible steps that should be taken to document and provide evidence of their compliance with the various legislation in place
* provides accountants with a practical, user-friendly manual to the governance issues which they need to be aware of.

Catherine is Group Compliance Officer for Maitland (www.maitlandgroup.com) and also
an Associate Lecturer in Financial Services at the Isle of Man College of Further Education.
Prior to her current position she was Head of Legal, Compliance and Risk - Global Fund Services, Bank of Bermuda (Isle of Man) Ltd. She has been in the financial services industry for 20 years. She has also held positions as Manager, Marketing and Product Development for an international financial services provider, and was a Policy Adviser to the Isle of Man Government Financial Supervision Commission specialising in the development of the regulatory framework for collective investment schemes. She is a Fellow of the Chartered Institute of Bankers, a Member of the Securities Institute, a Member of the Society of Financial Advisers and an Associate of the Life Insurance Association by Diploma.She lectures internationally on subjects including fund management, regulation and compliance, insider dealing, investor protection regimes, and mortgage lending, and is Associate Lecturer, Financial Services at the Isle of Man College of Further Education. She has been engaged by the Africa Centre for Investment Analysis to deliver a 3-day course in November 2003 covering Insider Dealing Regimes, Investor Protection Regimes and International Funds.

Autoren/Hrsg.

Turner, Catherine

Inhaltsverzeichnis

1;Front Cover;1
2;Corporate Governance;4
3;Copyright;5
4;Contents;6
5;Introduction;8
6;Section 1 Background Issues;10
6.1;Chapter 1 What is Corporate Governance?;12
6.1.1;1.1 Definition;14
6.1.2;1.2 Some key concepts encountered in the world of corporate governance;14
6.1.3;1.3 Corporate governance rules;17
6.1.4;1.4 The emerging UK and international trends;18
6.2;Chapter 2 Overview of Corporate Governance Codes, Rules, Guidance and Other Publications;32
6.2.1;2.1 The framework;34
6.2.2;2.2 Recent UK developments;35
6.2.3;2.3 The Higgs Review;38
6.2.4;2.4 The Smith Report;39
6.2.5;2.5 Investor group guidelines on CSR matters;39
6.2.6;2.6 The Combined Code;42
6.2.6.1;2.6.1 Tailored versions of the combined code;48
6.2.7;2.7 The FSA’s Listing, Prospectus, Disclosure and Transparency Rules;49
6.2.8;2.8 The Turnbull report;50
6.2.9;2.9 The London Stock Exchange;51
6.2.10;2.10 The Association of Investment Companies (‘AIC’);52
6.2.11;2.11The Higgs review;53
6.2.12;2.12 The Smith Report;54
6.3;Chapter 3 Governance Post- Companies Act 2006, with Specific Reference to Shareholder Issues;56
6.3.1;3.1 General;58
6.3.2;3.1 Timetable of events;58
6.3.3;3.2 Background to the Companies Act 2006;68
6.3.4;3.3 Key shareholder issues under the Act;73
6.3.5;3.4 Other shareholder issues;74
6.3.6;3.5 Information Rights;76
7;Section 2 A Practical Guide to Establishing a Framework;78
7.1;Chapter 4 Corporate Governance Post-Companies Act 2006, Part 2;80
7.1.1;4.1 Electronic communications provisions;82
7.1.2;4.2 raction of the act with the Transparency Directive;84
7.1.3;4.3 The statutory liability regime;85
7.1.4;4.4 Interaction with the Takeovers Directive;87
7.1.5;4.5 Other miscellaneous changes which came into effect on 6 April 2007;88
7.1.6;4.6 Directors' duties;89
7.1.7;4.7 Directors - appointment and other matters;96
7.1.8;4.8 Derivative claims;98
7.1.9;4.9 Business Review;99
7.1.10;4.10 Liability limitation agreements - auditors;101
7.1.11;4.11 Other matters relating to auditors;102
7.1.12;4.12 Deregulation;103
7.1.13;4.13 Share capital;106
7.1.14;4.14 Financial assistance;108
7.1.15;4.15 AGMs - quoted companies;108
7.1.16;4.16 Summary;110
7.2;Chapter 5 Internal Controls and Risk Management;112
7.2.1;5.1 ground;114
7.2.2;5.2 The Turnbull Report;115
7.2.3;5.3 The Board’s Responsibility;116
7.2.4;5.4 The risks that should be considered;117
7.2.5;5.5 Effectiveness of internal control system;118
7.2.6;5.6 Reviewing the effectiveness of internal controls;118
7.2.7;5.7 Statement in the accounts;119
7.2.8;5.8 Practical steps to implement Turnbull;120
7.2.9;5.9 Monitor ongoing performance;123
7.2.10;5.10 Keeping a record;123
7.2.11;5.11 The role of the company secretary;124
7.2.12;5.12 The Audit Committee;126
7.3;Chapter 6 Disclosure and Reporting Responsibilities;132
7.3.1;6.1 The trends in reporting - increasing focus on non-financial matters;134
7.3.2;6.2 Financial reporting matters;137
7.3.3;6.3 Annual accounts and reports;143
7.3.4;6.4 Applicable accounting standards;145
7.3.5;6.5 Accounting periods;145
7.3.6;6.6 Access to accounting records;146
7.3.7;6.7 Approval and signature;147
7.3.8;6.8 True and fair requirement;147
7.3.9;6.9 Signature of accounts;147
7.3.10;6.10 Directors’ liability;148
7.3.11;6.11 Laying of accounts by private and public companies;149
7.3.12;6.12 Resolution;150
7.3.13;6.13 Sending copies of accounts to members;150
7.3.14;6.14 Electronic form;151
7.3.15;6.15 Disclosure rules and transparency rules (DTR);151
7.3.16;6.16 The right to demand copies of accounts and reports;152
7.3.17;6.17 Delivery of accounts to the registrar of companies;152
7.3.18;6.18 Late delivery;154
7.3.19;6.19 Publication of statutory and non-statutory accounts;156
7.3.20;6.20 Statutory accounts;156
7.3.21;6.21 Non-statutory accounts;156
7.3.22;6.22 Revision of defective accounts and reports;157
7.3.23;6.23 The enhanced business review;159
7.3.24;6.24 The annual business review (ABR);164
7.3.25;6.25 Untrue or misleading statements or omissions;170
7.3.26;6.26 The Climate Change Act: greenhouse gas emissions;171
7.4;Chapter 7 Directors’ Remuneration;172
7.4.1;7.1 Remuneration committees;174
7.4.2;7.2 The Combined Code and remuneration;174
7.4.3;7.3 Composition of the remuneration committee;175
7.4.4;7.4 Chairmanship of the remuneration committee;176
7.4.5;7.5 Meetings of the remuneration committee;176
7.4.6;7.6 Attendance;177
7.4.7;7.7 Records;177
7.4.8;7.8 Relationship with the nomination committee;178
7.4.9;7.9 Duties of the remuneration committee;178
7.4.10;7.10 Terms of reference of the remuneration committee;178
7.4.11;7.11 Disclosures in relation to the committee;179
7.4.12;7.12 Key aspects of remuneration policy;181
7.4.13;7.13 Service contracts and notice periods;182
7.4.14;7.14 Procedure for developing a remuneration policy;183
7.4.15;7.15 Remuneration of non-executive directors;184
7.4.16;7.16 Disclosure of directors’ remuneration;186
7.4.17;7.17 Guidelines and views of institutional investors;186
7.4.18;7.18 Use of remuneration consultants;188
7.4.19;7.19 Designing incentives;188
7.4.20;7.20 Points for caution;189
7.4.21;7.21 Assessing base salaries;190
8;Index;192