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UK Government to crack down on fraud
The UK Government is to crack down on fraud by reforming Companies House and strengthening anti-money laundering powers. Proposals contained in a new Bill – the Economic Crime (Transparency and Enforcement) 2022 Act (ECTE) – specifically targets “foreign elites” and other bad actors. That will entail making the ownership of limited companies and partnerships more…
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Businesses need advanced risk oversight
Businesses need advanced risk oversight as executives worry that the volume and complexity of risk is growing harder to manage, according to a survey by accountancy bodies AICPA and CIMAR. Yet only about one in three businesses has complete enterprise risk management (ERM) systems in place. In fact, organisations in Asia and Australasia scored best…
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Europe cracks down on forced labour
The European Union plans to crack down on forced labour by banning products made by victims of modern slavery. The proposals cover products made in the European Union (EU) and imports that use such labour. They target goods in both the private economy and those made with the help of state support. Sustainability “In today’s geopolitics, we…
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ESG disclosure needs more detail
ESG disclosure by US fund managers needs more detail if it is to be meaningful, according to market insight consultancy Util. It said managers using the UN Sustainable Development Goals must report on the Environment, Social and Governance dimensions of portfolios separately. Otherwise, conflicting pressures within those categories threaten to make the measures useless. “In…
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WEF outlines three principles of cyber resilience
The World Economic Forum (WEF) recently outlined its three principles of cyber resilience, which focus on governance, operating models and business outcomes. While cyber attacks such as ransomware are steeply increasing, it said, too few business focus mitigation efforts on key business activities. Instead, they deploy technologies to fix individual problems with IT systems. But…
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Social housing boards must balance competing risks
The Regulator of Social Housing (RSH) warned that social housing boards must balance competing risks and improve transparency in its ninth annual report. It said that tenant and building safety were key responsibilities. That means boards need a firmer grip on the changing legal landscape with good assurance on health and safety. ‘Boards and councillors…
