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Regulations

Why new leaders should make decisions slowly

Sep 25, 2019

On September 25, 2019, the Harvard Business Review published an article on how the stakes are high when a new leader takes over. Despite their training and experience, a full 74% of new leaders say they are unprepared for the new role, and in 18 months nearly half of them disappoint or fail entirely.

In many cases, leaders either judge too quickly, making snap decisions that prove to be ill advised, or wait interminably to “gather more facts,” only for the critical moment to slip away.

Review the full article on the Harvard Business Review's website.

Remarks given during the UN Secretary General’s Climate Action Summit 2019

Sep 24, 2019

On September 24, 2019, the Bank of England released a speech by Mark Carney given at the UN Climate Action Summit, where the Governor talks about the importance of a sustainable financial system.

Mr. Carney says it can help to amplify the impacts of climate policies and accelerate the transition to a lower carbon economy. He calls for a step change in reporting and risk management. And he argues for an optimization of sustainable finance into everyday mainstream financial decision-making.

Review the press release and full speech on the Bank of England's website.

International webinar on proposed changes for role and mindset expectations

Sep 23, 2019

On September 23, 2019, the International Ethics Standards Board for Accountants (IESBA) released a webinar to help our stakeholders understand the IESBA’s recent proposed Code of Ethics changes to promote role and mindset expectation.

Listen to IESBA Deputy Chair Richard Fleck share an overview of the proposed revisions, including:

  • Highlighting professional accountants’ wide-ranging role in society and the relationship between compliance with the Code and the responsibility to act in the public interest;
  • Enhancing the robustness of the fundamental principles of integrity, objectivity and professional behavior;
  • Requiring an inquiring mind when applying the conceptual framework; and
  • Highlighting the importance of being aware of bias and having the right organizational culture.

Review the press release and video on the IESBA's website.

How to demonstrate your strategic thinking skills

Sep 23, 2019

On September 23, 2019, the Harvard Business Review published an article on how showing strategic thinking skills tells your bosses that you’re able to think for yourself and make decisions that position the organization for the future.

It assures them that you aren’t making decisions in a vacuum but are considering how other departments might be affected or how the outside world will respond.

Review the full article on the Harvard Business Review's website.

Some good news for the cybersecurity class action bar

Sep 19, 2019

On September 19, 2019, the D&O Diary published a guest post by John Reed Stark, President of John Reed Stark Consulting and former Chief of the SEC’s Office of Internet Enforcement. In his post, Mr. Stark discusses a recent development in the class action litigation arising out of the massive Marriott International data breach.

This development could have significant ramifications for other claimants asserting class action claims, including securities class action claims, based on data breaches or other cybersecurity incidents.

Review the full post on the D&O Diary's website.

Hiring for culture fit doesn’t have to undermine diversity

Sep 18, 2019

On September 18, 2019, the Harvard Business Review (HBR) published an article by Mr. Hofmans and Mr. Judge on how although most managers would agree that it is important to hire people who fit in, the idea of hiring for culture fit has become controversial. Their work suggests it need not be.

Most of the controversy boils down to a single key issue: the wrong definition of culture fit. The confusion over what culture fit is has given rise to a number of common misconceptions. Clearing these up can help managers improve their talent strategies.

The misconceptions include:

  1. Culture fit is a “nice to have” but not a necessity
  2. Hiring for culture fit hurts diversity
  3. Hiring for culture fit hurts innovation
  4. Hiring for culture fit is an art, not science

Review the full article on the HBR's website.

The economics of cybersecurity

Sep 18, 2019

On September 18, 2019, the National Association of Corporate Directors (NACD) published an article on how for many directors and business executives, cybersecurity spending has long been a mystery.

Understanding where to invest, how much to invest and, most importantly, the return on that investment has been largely a guessing game. It is also how cybersecurity has earned the reputation of being a “black hole of spending”—chief information security officers (CISOs) continuously request more budget to stay apace of the constantly changing threat landscape, but there is little clarity around how that budget actually delivers value to a company.

Review the full article on the NACD's website.

Steps leaders can take to get the most out of feedback

Sep 10, 2019

On September 10, 2019, the Harvard Business Review (HBR) published an article on how business publications are filled with articles about feedback, but the focus tends to be on the transfer of data. What is less explored is how leaders should respond once they receive that data.

Even when leaders make an effort to collect robust feedback, they only access about 25% of its potential value. This is because the process often stops too soon.

Review the full article on HBR's website.

Diversity vs. Inclusion: What’s the difference?

Sep 05, 2019

On September 5, 2019, the Conference Board of Canada released an article on how organizations think about diversity is shifting. Building a diverse organization remains a priority for employers, but there’s more to be done.

In today’s workplace, companies need to think strategically about their inclusion efforts in order to support their diversity; doing this can lead to a positive impact on company culture, innovation, and the bottom line. To get there, let’s start with identifying the difference between diversity and inclusion. We’ll also take a closer look at the concept of intersectionality.

Review the full article on the Conference Board of Canada's website.

Tax policy reforms 2019 report released

Sep 05, 2019

On September 5, 2019, the Organisation for Economic Co-operation and Development (OECD) published "Tax Policy Reforms 2019: OECD and Selected Partner Economies", the latest edition of its annual report identifying major tax policy trends. The report covers the 36 OECD countries, plus Argentina, Indonesia and South Africa.

The report highlights that fewer countries have introduced comprehensive tax reform packages in 2019 compared to previous years, with the most comprehensive reforms in the Netherlands. Other significant tax changes implemented were in Lithuania (labor taxes), Australia (personal income taxes), Italy (corporate income tax) and Poland (personal and corporate income taxes).

Other key findings include:

  • Corporate tax rate cuts have continued but are less significant than those introduced in 2018. The countries introducing the most significant reductions tend to be those with higher initial tax rates, leading to further convergence in corporate tax rates across countries.
  • Efforts to fight corporate tax avoidance have progressed with the adoption of significant reforms in line with the OECD/G20 Base Erosion and Profit Shifting (BEPS) project. The tax challenges arising from the digitalization of the economy continue to create concerns, with some countries adopting unilateral measures while global efforts to achieve a consensus-based multilateral solution continue. 
  • Several countries have continued to lower personal income taxes, particularly for low- and middle-income earners and the elderly. Some also have expanded tax incentives to support pension savings and small savers. 
  • Once again this year, there were very few changes to property taxes.
  • Standard VAT rates continue to stabilize across countries, as observed in the last few years.
  • The pace of environmentally-related tax reforms has slowed.

Review the press release and report on the OECD's website.

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