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Directors' duties and corporate governance

The coronavirus COVID-19 pandemic is disrupting the way companies maintain their corporate governance responsibilities. This page collects together ICAEW insights and externally-produced resources which offer practical advice for directors and boards on how to conduct AGMs and board meetings, file accounts and discharge their other duties.

We want to know about the issues affecting you, your business and your clients. We would love to hear of any ideas you have for new resources or information that we are not yet covering. If you have insight and ideas for additional guidance or policy input to government, please tell us.

ICAEW insights

Technical news in brief July 2020

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ICAEW's Audit and Assurance Faculty brings you the latest technical updates on developments in auditing and assurance, financial reporting and ethics. Please note Only Audit and Assurance Faculty members and Faculties Online subscribers have access to these technical updates.

Developing the right culture

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Ensuring your business culture does not lead to loss

Special Report 68: Commercial Insight

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This special report explores how to be more commercial to add value and generate profit for your firm.

Audit reform progress towards ICAEW's five goals

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The faculty is working to achieve ICAEW’s five goals for audit reform, despite the pandemic, as Sophie Campkin and Nigel Sleigh-Johnson explain.

Technical Update August 2020

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Our roundup of regulatory news.

Culture not crisis

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The FCA has looked at financial services firms’ remuneration policies and has encouraged a continued focus on culture rather than crisis, Financial Services Faculty commissioning editor Brian Cantwell writes.

Using electronic signatures

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This helpsheet has been issued by ICAEW’s Technical Advisory Service to inform members what they need to take into considerations when using electronic signatures to sign reports and documents.

COVID-19 not the only thing worrying the C-suite

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2019 seemed particularly bad for large-scale disruptive events, and it was, until 2020 and COVID-19 came along.

Ethics and AML round-up

26 June 2020: The essential resources for ICAEW members when it comes to ethical and AML issues.

Covid-19 ethical issues for members in business

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Technical helpsheet issued to help ICAEW business members to navigate some of the ethical issues that may arise during the Covid-19 pandemic.

Showing 20 of 42 items

External resources

FRC Company Guidance (Updated 20 May 2020) (COVID-19): Guidance for companies on Corporate Governance and Reporting (Including Interim Reports)

FRC 20-05-2020

Guidance for companies published by the FRC highlighting key issues for boards and addressing common challenges for preparers of annual reports and other corporate reporting, particularly regarding disclosures. Updated to include explanations of how organisations should report exceptional items and alternative performance measures (APMs). The high-level guide provides notes on management information, risk management and internal controls systems, dividends and capital maintenance, corporate reporting, strategic report and viability statement, going concern and material uncertainties, significant judgements and estimation uncertainty, events after the reporting date, and interim reports.

Disincorporation and downsizing: Get the details right

AccountingWEB 01-05-2020

In this AccountingWEB article, Mark McLaughlin examines key considerations for company owners when disincorporating their business due to the impact of COVID-19. It looks at options for dispensing with the company and tax issues around transfer of closing trading stock, capital allowances, VAT, capital gains on transfer of chargeable assets, SDLT, and intangible fixed assets. Part 2 of the article continues with discussion of distributions on winding up, the targeted anti-avoidance rule (TAAR), tax avoidance motives, transactions in securities, and IHT.

Modern slavery reporting during the coronavirus (COVID-19) pandemic

GOV.UK 20-04-2020

Guidance issued by the Home Office announcing that businesses which need to delay the publication of their modern slavery statement by up to six months due to coronavirus-related pressures will not be penalised. It also highlights specific issues to consider in addressing modern slavery risks during the pandemic.

Good practice for virtual board and committee meetings

ICSA 28-03-2020

Guidance note issued by ICSA on the use of virtual meetings, which aims to help companies struggling with the impact of COVID-19. The document discusses how to choose the right technology and communication channel (including a comparison of virtual meeting providers), how to organise and structure virtual meetings, suggested ground rules for participants, alternatives to meetings, and notes for the Chair, the Company Secretary and presenters.

AGMs and impact of COVID-19

ICSA 27-03-2020

Updated guidance issued by ICSA offering advice for UK listed companies on how to ensure that AGMs are quorate, who should chair meetings, which directors will be allowed or expected to attend the general meeting and where to hold the meeting in the event of the planned venue being unavailable or otherwise inaccessible.

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