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New challenges in corporate governance

Jo Iwaski, Head of Corporate Governance, ICAEW A number of major changes have taken place in capital markets over recent years, including the growing importance of non-equity financial instruments, new types of equity owners and changes in the role of intermediaries. Furthermore, many business controversies are discussed as corporate governance issues. These changes and controversies present significant challenges to existing models of corporate governance built around agency theory, which sees boards of listed companies acting primarily as agents of absent equity owners. This presentation was given at the 4th Brunel Accounting Symposium on 20 June 2014 and centres on the latest ICAEW thought leadership initiative, which considers some of fundamental questions arising from this background. discusses four ICAEW briefing papers which focus on company responsibilities; overarching principles of corporate governance; the appropriateness of comply or explain; and how diverse boards should be. Please note that the sound quality is not very good due to some technical problems.