Climate Change Disclosures–More and Better

For more than 20 years, large companies have been ramping up the depth and breadth of their disclosure on GHG emissions. At the same time, the amount of forward-looking financial information on climate risks and the opportunities being provided to investors has been patchy at best. But in the short time since July 2017, following…

Here’s one way to tell if a company is overpaying its CEO – MarketWatch

VEA Vice Chair Nell Minow is quoted in this article about use of non-standard financial reporting to inflate CEO compensation: U.S. companies that use nonstandard numbers to calculate executive compensation are overpaying their top managers, according to a new research report. The working paper, “High Non-GAAP Earnings Predict Abnormally High CEO Pay,” by Nicholas Guest…

SOX Internal Controls Provision Creates Investor Value After All

[I]n the longstanding controversy over 404(b), the voice of one constituency has been conspicuous by its absence — and ironically, it’s the very group the regulation supposedly protects: namely the investment community. Whether the provision actually holds value to investors has remained unclear.Now, the January issue of the The Accounting Review, an American Accounting Association journal, includes the…

IRRC on Integrated Reporting

Jon Lukomnik writes: Today’s report from SI2 and IRRCi is chock full of facts that detail the state of the art of sustainability and integrated reporting in the S&P 500. It’s definitely maturing, but fully integrated reporting is rare. 78% of S&P 500 companies issue a sustainability report. 40% of S&P 500 companies include voluntary…

PwC doing double duty as auditor and tax lobbyist – MarketWatch

VEA Vice Chair Nell Minow is quoted in this article about potential conflicts of interest in PwC’s getting lobbying fees from audit clients. Nell Minow, a corporate governance expert and the vice chair of ValueEdge Advisors, told MarketWatch, “There are serious conflict of interest issues when an auditor has a lucrative side project involving its…

Comment Letter on IOSCO Consultation Report on Audit Committee Good Practices from Samantha Ross

Mr. Jonathan Bravo International Organization of Securities Commissions Calle Oquendo 12 28006 Madrid Spain By email: consultation-04-2018@iosco.org Re:      Public Comment on IOSCO Consultation Report on Good Practices for Audit Committees in Supporting Audit Quality   To the Board of the International Organization of Securities Commissions: Thank you for the opportunity to comment on your…