INSIGHTS

05 Feb, 2024
Claire Beasley & Sue Willis invite you to an evening of networking and stories. 5th March 2024 6PM - 9PM The Century, 61-63 Shaftesbury Ave, W1D 6LQ
AI Governance: Navigating Commercial and Public Interests
29 Jan, 2024
In November the Board of Open AI an operating company backed by Microsoft sacked its chief executive, Sam Altman. He was then very quickly reinstated by Microsoft. The circumstances of this dismissal and reinstatement give rise to some intriguing governance issues.
22 Jan, 2024
It does seem remarkable that the Board of the Post Office was not given or did not avail itself of an opportunity to intervene at an earlier stage. The Public enquiry will doubtless opine and perhaps it is unhelpful to be too specific about this case at this stage. But whatever else, so far as the Post Office itself is concerned their conduct has been outrageous as Sir Wyn Williams found.
30 Nov, 2023
Drawing parallels to boardroom decision-making, we question if the Inquiry is gathering diverse information and if its terms of reference encourage strategic thinking. Join the discussion on the impact this might have on developing an effective action plan for the future.
AI and the independent non-executive director
01 Nov, 2023
When carrying out board reviews we have seen that artificial intelligence (AI) is playing an increasingly important role in the life of companies. However, while we see boards requesting information and challenging executives on how AI is being, or will be, deployed in the business, we have observed that few boards seem to be considering how AI can be used to improve their own effectiveness.
what value resides in a reputation under scrutiny?
By Wayne Osbourne 26 Oct, 2023
In recent months we have witnessed examples of governing bodies, whether boards of directors or trustees, either defending an individual executive from external criticism or failing to dig deeper into an issue for fear of damaging the institution’s reputation. Should the Board of NatWest have declared full confidence in its chief executive whom they otherwise held in high regard where she had potentially breached the banking confidentiality of a high-profile person?
The Impact of Board Relationships
25 Oct, 2023
Boards aren't merely a group of individuals, their effectiveness hinges on the relationships among members and key team players. This event will delve into the art of effective challenge, the nuances of the Chair and CEO relationship, the transition from executive to non-executive director, and strategies for collaboration. Alison Gill joins the panel of experts to share practical insights drawn from real-life board reviews. Join the discussion and bring your questions and comments on November 30 between 12:00 and 13:00.
20 Oct, 2023
The complete series on the behavioural capabilities and traits of high-performing boards. Delving into the nuances of board leadership, this series sheds light on the pivotal role of behaviour in achieving excellence. From strategic thinking to inspiring others, fostering involvement, and measuring performance, discover the key elements that empower boards to excel.
30 Jun, 2023
Good leaders and therefore boards think strategically, involve, and inspire others and measure their performance. This is the last in the current series of articles on the essential elements of good leadership. Good leaders play close attention to calibrating the performance of the team and take positive steps to empower them to fulfil their potential both collectively and individually. Demonstrable progression toward a goal motivates. Having walked from Kings Lynn to Santiago to Compostela I can say from personal experience that that what keeps one going for the first 100 miles is the shame that would arise from being seen to give up. After that, it is the satisfaction and energy derived by looking back and seeing how far one has gone. It is just so with achieving goals toward fulfilling an overall ambition. Success breeds success. A great leader builds a performance culture in which all are encouraged to focus on the organisational objectives and processes that directly contribute to that and then record and celebrate the progress. Within that performance culture the leader must ensure also that all are enabled and encouraged to use their initiative, and, within permissible bounds, internal and external constraints are reduced to enhance freedom of action and scope for initiative. When goals are achieved it is critical that these are acknowledged and recognised. It is remarkable to observe, as we do in reviews, the contrasting impacts that poor performance and high performance can have on the motivation of the board itself, the former breeding a sense of disengagement and lack of resolve and the latter generating energy, commitment and focus. Setting goals, agreeing performance outcomes and striving to fulfil them can re-establish motivation and energy. So much of a board’s attention in an ever more regulated environment tends to be focused on oversight and compliance. We observe this to be a constant cause for frustration. We also recognise it is challenging balance for boards to strike between proactive encouragement and liberalisation of initiative and implementing the necessary checks and balances. So, it is probably not a bad idea for a board periodically to measure its own performance and recalibrate the balance where necessary. How do you rate your board? We hope you have enjoyed reading this short series of articles that explore the essential elements of good leadership. It is important that boards continue to evolve, in terms of composition, governance, rationale, and output, to ensure that they reflect the evolving social and corporate context. Performance reviews should be an opportunity for boards to review and challenge their alignment, fostering a culture within which effective behaviours prevail. Our work aims to contribute to this ongoing enhancement and promote a culture of continuous improvement. We welcome your thoughts and ideas on what other topics or areas of leadership you would like to hear about.
29 Jun, 2023
On the 24 May the Financial Reporting Council (FRC) published its consultation on a number of proposed amendments to the UK Corporate Governance Code (the Code). This note covers some of the FRC’s main proposals. The FRC believes that key proposals will help strengthen the framework of prudent and effective risk management and internal controls. The consultation states that the proposals ‘ are aimed at providing a stronger basis for reporting on, and evidencing the effectiveness ’ of the framework of controls and risk management. The FRC proposes that all companies reporting against the Code should consider producing an Audit and Assurance Policy on a ‘comply or explain’ basis. Having considered recommending that Code companies should have sustainability committees, the FRC decided not to pursue this approach having reached the view that companies ‘ are building experience in different ways ’ and stating its conclusion that the issues related to sustainability and ESG might be better dealt with ‘b y risk committees, people committees, management teams or external experts ’. The FRC believes that as audit committees have the experience of setting policies and frameworks their role could be adapted to cover ESG metrics and that they should oversee ESG disclosures, controls, processes, and assurance rather than asking companies to establish new arrangements. The FRC is proposing amendments to Code Provision 29 (which will become Provision 30), these will ask the board to declare whether it ‘ can reasonably conclude that the company’s risk management and internal control systems, including material operational, reporting and compliance controls, have been effective throughout the reporting period and up to the date of the approval of the annual report by the directors ’. The board should be able to support the basis for its declaration, including how it has monitored and reviewed the effectiveness of these systems. The board will also be asked to report any material weaknesses identified in these systems and what action has been taken to address them. The FRC states that the aim of its approach is ‘ to avoid a situation where the review of effectiveness is seen as a one-off exercise, and which only assesses the effectiveness of the company’s systems at one point in time’ . The consultation also includes plans to strengthen reporting by companies on their malus and clawback arrangements in relation to directors’ remuneration in the event of serious failings or misconduct. 
Show More
Share by: