May 10, 2013
Thomson Reuters and Independent Audit to Host Strategic Discussion on Corporate Governance
LONDON – Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, and Independent Audit Limited, the top UK specialist board and governance consultancy, today announced that they will host the second in a series of board-level events that provide CEOs, chairmen and non-executive directors with a forum to discuss some of the most challenging issues regarding effective board governance today.
The invitation-only event Is Corporate Governance a Dangerous Distraction?will take place at Clothworkers’ Hall in the City London on Wednesday, 19 June under Chatham House Rule.
The distinguished panel leading the evening’s discussion is comprised of: Baroness Wheatcroft, well-known business journalist and non-executive director of Fiat and St James’s Place; Glen Moreno, chairman of Pearson and deputy chairman of the Financial Reporting Council; Lord McFall, current member of the House of Lords Economic Affairs Committee and former chairman of the Treasury Select Committee; and Ian Armitage, former chairman of private equity firm HgCapital.
The panel and discussion will examine whether governance is little more than a remedy for what is a systemically flawed approach to oversight and has resulted in it becoming a distraction from what’s really needed. It will look to answer specific questions such as whether corporate governance gives misplaced confidence that management are really being held accountable, ways to achieve alignment between executive and shareholder interests, as well as the value of relying on non-executives when looking at corporate governance and risk.
“Experience of Board practice around the world shows that an inherent tension exists between box ticking and behaviour management,” said Ken Olisa, chairman, Independent Audit Limited, and non-executive director, Thomson Reuters. “Corporate Governance codes – at least in the UK – are meant to support the latter and not the former. I look forward to our distinguished panel’s examination of the degree to which this lofty ambition is borne out in reality.”
“Economic uncertainty, increased regulatory requirements and greater regulatory scrutiny are making the environment for corporate governance ever more complex,” said Mark Schlageter, managing director, Governance, Risk & Compliance, Thomson Reuters. “The demands and responsibilities being placed on the Board of Directors relating to accountability and transparency are becoming increasingly difficult to navigate. Events like this provide the perfect forum for board members to come together, discuss the challenging issues they face, and the solutions that can help them have visibility into the entire risk picture across their organizations. We feel very privileged to be co-hosting this important board-level event again.”
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organisation. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to http://thomsonreuters.com
Independent Audit are leading advisors for board, governance and assurance effectiveness. We have worked with many FTSE100 and FTSE250 companies, pension funds, charities and public sector organisations. Our integrated services are unique: we provide full external reviews of the Board, committees, risk governance, internal audit, external audit and behaviour & ethics, assessing how different parts of the governance structure are working and how well they link up, or looking in detail at specific governance and assurance issues. Our web-based governance self-assessment service, Thinking Board, provides an easy-to-use alternative approach to assessing effectiveness, ensuring that all the angles are covered in a way that provokes fresh thinking. For more information, go to www.independentaudit.com.