Sign up for regular news, views and insights about corporate governance

Name
Email
Company
Job title
Industry

Close

Setting the benchmark in corporate integrity

The many faces of auditing

Both mandatory and discretionary, auditing comes in many guises

1 Integrated

A necessary undertaking for public companies, an integrated audit entails the auditing of both financial statements and internal control over financial reporting. Necessarily conducted by an external auditor, integrated audits are advantageous in that they encourage a holistic approach to the internal auditing process.

2 Performance

Conducted by either an asset manager or an outside firm, a performance audit verifies performance figures with those demonstrated to the public. Beneficial in that a performance audit allows an accurate insight into a firm’s returns.

3 Quality

Quality audits entail the systematic examination of a quality system, undertaken by either an internal or external quality auditor. Quality audits are integral in determining compliance with a defined quality system process and are a necessary requirement in maintaining the ISO quality system standard.

4 Regular health checks

Regular health check audits are carried out for purposes in understanding the present state of a specific project. Primarily conducted by an independent party, regular health checks are intended to further increase productivity or otherwise effectiveness.

5 Energy

Energy audits consist of an inspection, survey and analysis of energy consumption. Largely intended for the bettering of energy conservation, input is often sought to be reduced though without the hindering of subsequent output. Energy audits are largely meant for reducing overheads.

6 Regulatory

Otherwise termed financial, regulatory audits are intended for assessing the legality of processes pertaining to financial operations. Encompassing management, collections and expenditure, regulatory audits seek to determine a true and fair representation of policy and financial management.

 

News

Social business collaboration enhances corporate communications

Social media technologies offer unprecedented digital opportunities to share information, communicate and collaborate which are now being translated into a means of internal corporate communication management

Ecobank accused of fraudulent governance

The African bank is under investigation by the SEC following allegations of fraud by a suspended company executive

About the awards

The Corporate Governance Report Awards celebrates leaders and innovators in financial reportage, transparency and shareholder relations. We identify those organisations setting the standard in internal …

A cultural aversion to defined benefit pension plans

Defined benefit pensions come under scrutiny

Investors want sustainable reports to be more transparent

Survey finds that a vast majority of investors in Europe find sustainable reporting essential to their investment decisions

Australian government launches mining probe

Australia’s securities regulator is set to launch a probe of the country’s biggest mining companies in a bid to crack down on selective briefings

New union group pledges to ‘tackle corporate responsibility’

The Trade Union Share Owners group will put union values at the heart of corporate governance through the Trade Union Voting and Engagement Guidelines

Commission propose fundamental changes to German Corporate Governance

The Government Commission for the German Corporate Code has, in February of this year, proposed a series of changes it believes will greatly improve the current upholding of corporate governance

Just how flexible is the UK employment market?

Government declares that “firms have a duty to hire Britons” but what are the implications for employers?

We, the corporations?

Luigi Zingales on the possibility of a mandatory disclosure rule

Community spirit

Research has shown that companies giving back to the communities in which they work tend to enjoy better long-term results

RBS shareholders file suit against bank and former directors

RBS shareholders have launched a class-action suit over the 2008 rights offering a few months before the bank was bailed out by British government

Redefining corporate responsibility: award winners 2013

Organisations are seeking to correct past workplace models, taking stock and embarking upon a new age of responsibility. Here, the Corporate Governance Report celebrates those firms carrying the governance torch

The many faces of auditing

Both mandatory and discretionary, auditing comes in many guises