Proposals in relation to the responsibilities of, and reporting by directors
The Department for Business, Energy and Industrial Strategy (BEIS) has published the government's response to last year's White Paper ‘Restoring trust in audit and corporate governance’. This section provides a summary of those proposals in relation to the responsibilities of, and reporting by directors covering:
- Capital maintenance
- Definition of public interest entity
- Directors’ obligations in relation to fraud
- Exploring options for attestations on internal controls
- New regulatory regime for directors
- Options for assurance on areas such as climate, Alternative Performance Measures (APMs) and Key Performance Indicators (KPIs)
- Payment practices
- Publication of principal risks & audit plan for engagement with shareholders
- Supervision of corporate reporting
- The Resilience Statement