Following the submissions of the Financial Reporting Council (‘FRC’) to the BEIS Select Committee in September 2020, in which it set out its progress so far under the Transformation Programme, the FRC this week has launched a consultation on its draft Strategy and Plan & Budget 2021/22, calling for stakeholder comments by 12 March 2021.
The general election is now over, and Parliament has more time to deal with matters other than Brexit. The spotlight has therefore returned to corporate governance, with The Sunday Times reporting that the FRC is developing a “British version of Sarbanes-Oxley”. It reported that this would “heap more responsibility on to directors, asking them to vouch regularly for the integrity of their financial controls and – if passed into law in the UK – opening the possibility of criminal proceedings against chief executives and finance directors for reporting misleading statements to the market.”
Social media has introduced to professionals a global platform for promoting services to an ever-growing audience in order to network and reach out to new clients. It is increasingly a key focus of marketing strategy. Not only this but it is a space within which professionals can share and acquire knowledge.