Westminster Business Forum

Next steps for the financial reporting and corporate governance powers in the UK - accountability, stewardship and the future for regulation

Morning, Thursday, 28th February 2019

Central London


This timely seminar will consider next steps for financial reporting and corporate governance powers in the UK - looking at accountability, stewardship and the future for boardroom regulation.

It is scheduled to follow the provisional report of the CMA’s review of the audit sector, which is examining its resilience, the incentives for auditors to produce challenging reports, and how businesses choose auditors and the frequency of switching.      

Delegates will discuss the likely implications of its proposals for competition - and further options for the final market study - and we expect those attending to consider how proposed measures could support the ability of UK audit firms to audit international companies.    

The conference also follows the expected publication of the independent review into the purpose and role of the Financial Reporting Council (FRC).

Attendees will consider its future role in safeguarding the UK’s business environment, its effectiveness and increased accountability to Government, the Council’s possible classification as a public body, as well as its future powers in relation to regulatory action that can be taken against auditors and businesses.

The conference will also discuss the FRC’s current work, including the impact of the anticipated reforms to its UK Stewardship Code expected at the end of this year, looking at the standards companies should adhere to, and making clear overall expectations and responsibilities of those affected at different points in the investment chain.

Discussion is also expected on diversity and the gender pay gap, following the BEIS Select Committee report on closing the gender pay gap, including its recommendations on business reporting requirements, future actions and enforcement.

Further sessions consider the impact of Government’s corporate governance reforms - including changes to the duties of directors in relation to best practice and responsible behaviour, the role of stakeholders, and associated issues of pay ratio reporting and improving diversity at board level - as well as reforms to private companies including the Wates Corporate Governance Principles due to be published in December.

Keynote Speaker

Senior speaker confirmed from Department of Business, Energy and Industrial Strategy


Janet Williamson

Senior Policy Officer, TUC

Professor Alex Edmans

Professor of Finance, London Business School

Anthony Appleton

Director, Accounting and Reporting Policy, Financial Reporting Council

John Hunter

Director, UK Shareholders’ Association

Dominic Rossi

Senior Advisor, Fidelity International

Catherine Howarth

Chief Executive, ShareAction

Senior speaker confirmed from ACCA

Konstantinos Sergakis

Senior Lecturer (Associate Professor), University of Glasgow