The prospect of complying with emerging UK Internal Control or 'UK SOX' requirements may seem daunting, depending on your current situation.
To help you navigate these changes, we're sharing valuable insights on internal control compliance.
On 22nd January the Financial Reporting Council (FRC) published revisions to the UK Corporate Governance Code, following their 2023 consultation on how risk and internal control reporting could be more effectively included in the Code. This follows the Government announcements last October to withdraw secondary legislation and pursue options to streamline and simplify existing corporate reporting.
Boards are more alert to risk and their responsibilities than ever, seeking greater assurance over the control environment. Although premium listed businesses should already have a framework of internal controls in place, these can vary widely. Companies are starting to take internal control disclosures seriously, however 52% provide only basic or general explanation of their internal control effectiveness with limited transparency on the how (Corporate Governance review 2023).
What does this mean for you, your Internal Controls framework and your annual report?
You can take key steps now to set yourself up for success in Internal Control compliance, even while the guidance and impact of the FRC changes to the Corporate Governance code are awaited.
Changes are proposed to come into force on 1 January 2025, with reporting a year later– what do you need to do to get ready?
Following the Financial Reporting Council (FRC) publishing an update to the UK Corporate Governance Code, we explain what the Code changes mean and what you should do next.
Find out how you can respond to the withdrawal of planned secondary legislation – and share your plans in our survey.
Our latest Corporate Governance Review details how a box-ticking approach to assurance is exposing companies to risks.
Paul Young looks at the key changes and what this means for listed companies.
Where stakeholders should focus and how their input could help shape outcomes.
Digital innovation and automation can generate valuable insights that help you monitor financial risks and controls in a complex and changing world. Wondering how you can get started?
How we helped a client demonstrate testing of its IT controls for SOX compliance, automating for efficiency and insight.
Automation is key to driving efficiency in SOX internal control testing. Which solution is right for your organisation?
Controls automation can deliver quick wins and long term value to your SOX compliance capabilities. If you get it right.
Information technology controls are vital for efficient UK SOX compliance. We look at the challenges and opportunities.
Introducing Wave – our app-based, ready-to-use analytics platform to help you generate intelligent insights to support risk management and control monitoring.
By leveraging the power of Wave, you can add significant value to your ICFR compliance programme.
The BEIS consultation will see an increase in the accountability of directors. What does this mean for you?
What do businesses need to consider when looking at culture and UK SOX?
As UK SOX is likely to increase demand for third party risk assurance, we look at the options and key considerations.
A UK SOX regime has been suggested by numerous reports and reviews. Is the regime still on the cards for Britain?
You need to prepare for UK SOX: our guide explains what you need to know about the BEIS consultation
The BEIS response to audit and governance reform has been released. What can you do next to stay ahead of the curve?
