Will new ways of working after the COVID-19 pandemic improve board gender diversity?

Claire Fitzsimons, Senior Lecturer at Manchester Metropolitan University, considers the future of board gender diversity as new ways of working evolve following the COVID-19 pandemic.

Roadmap to an open Europe – or a different travel industry?

The European Commission has published guidelines on the restoration of transport services throughout the EU following COVID-19. Individual countries are now also stepping up.

The stakeholder imperative: an urgent priority for boards

14 May 2020: how have boards responded to the ongoing coronavirus crisis in light of the wide range of stakeholders they have to consider, and what should they be doing to plan for the future?

Payment culture, cost management and role of boards

13 May 2020: the Small Business Commissioner joins ICAEW to discuss the long-term impact of late payments and the power his organisation has to tackle COVID-19.

What investors need to know about responsible tax

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Responsible tax is not familiar enough for investors, finds Carlos Torneros, although things must change if the investment industry wants to improve its ESG credentials.

Coronavirus: How can directors support effective whistleblowing in the current crisis?

Practical guidance for directors on the importance of whistleblowing during the continually evolving COVID-19 crisis.

Holding meetings without breaking social distancing measures

28 April 2020: ICAEW’s Business Law team outline some of the key factors smaller entities need to take into account when considering meetings in the age of coronavirus measures.

Technical news in brief February 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.

Filing deadline extension for FCA-regulated, unlisted companies

23 April 2020: the Financial Conduct Authority has announced a two-month extension for submitting regulatory returns.

Trust in business during the coronavirus

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These are anxious times for everybody. The entire country, indeed the entire globe, is united against the coronavirus and its impact.

Boards in the age of COVID-19

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Audit reform, cyber threats, climate risk - these were some of the risks recently on board members’ minds until the impact of COVID-19 pushed them rapidly down the agenda.

Coronavirus: How do I discharge my duties as a director in the current crisis?

This ICAEW guide for directors is intended to reassure directors that they have identified all relevant considerations for themselves and for their companies.

COVID-19: implications for AGMs

1 April 2020: while AGMs are vital for companies, during the current climate the health of directors and shareholders must take priority

Coronavirus: extensions to filing deadlines and changing reporting dates

26 March 2020: Companies may apply for an automatic and immediate three-month extension to their filing deadlines. Find out more, plus how to change reporting dates.

COVID-19: Three month extensions to file accounts

25 March: Firms struggling to file their accounts due the coronavirus pandemic are to be granted a ‘fast-tracked’ three-month extension with Companies House.

Implications of the COVID-19 outbreak on the half-yearly financial reports

Public statement issued by the European Securities and Markets Authority (ESMA) providing recommendations and highlighting areas of focus. The statement discusses the application of IAS 34; disclosures reflecting significant uncertainties, going concern and risks linked to COVID-19; impairment of non-financial assets; presentation of COVID-19 related items in the statement of profit or loss; interim management reports.

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

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.

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

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.

Measures in respect of Company filings AGMs and other general meetings during Covid-19

A Q&A from the FRC and the Department for Business, Energy & Industrial Strategy (BEIS) providing information for companies that are finding it difficult to meet statutory obligations to hold meetings and to file documentation on the Companies Register. It discusses flexibility on AGMs and other general meetings, how meetings will be quorate, why virtual meetings are not encouraged, responsibilities to shareholders, extension of deadlines, and changing the accounting reference period.

Good practice for virtual board and committee meetings

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.

Actions to mitigate the impact of COVID-19 on the EU financial markets regarding publication deadlines under the Transparency Directive

Statement from the European Securities and Markets Authority (ESMA) announcing financial reporting extensions, with listed companies now given two extra months to publish annual financial statements.

AGMs and impact of COVID-19

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.

Statement of Policy: Delaying annual company accounts during the coronavirus crisis

The Financial Conduct Authority (FCA) has announced a temporary relief which will permit listed companies that need extra time to complete their audited financial statements an additional two months to publish them. It also confirms that the voluntary moratorium on publication of preliminary statements of account (prelims) can end on 5 April 2020.

Filing charity annual returns during the coronavirus pandemic

Advice for charities that need a filing extension to their annual return deadline, with details of a helpline to contact.