KPMG Podcast Series: Building Confidence

Accounting and reporting priorities - a forward look with the FRC

At our recent webinar, we found that 26% of our attendees see Corporate Governance and Audit Reform and the changes being proposed to UK GAAP as their primary work-related challenge over the next 12 months.

 

In this episode our host, Greg Stinson, UK Head of Accounting Advisory Services, is joined by Jenny Carter, Director of Accounting and Reporting Policy, from the Financial Reporting Council (FRC). Topics discussed include the evolving status of the Audit and Corporate Governance Reform, the changes recently announced to UK GAAP, and the proposed effective dates and what to expect from the FRC going forward.

 

Click here to watch the full webinar from 23 March 2023. 

Internal controls - reviewing, reporting and assurance

Whether you are still in the 'wait and see' mode, or have started commencing programmes to implement or improve your controls framework, there are still some unknowns on how businesses will need to respond to some of the anticipated UK Corporate Governance Reforms. In this episode, Richard Andrews, Partner for our Financial Services Consulting, and Irene Sellars, Partner and Head of Controls Assurance will talk through regulation, controls, and assurance, and why well implemented internal controls programmes should be at the top of your agenda to keep ahead of the curve.

Listen as our experts delve into the scope of the FRC changes, where businesses should be focusing on to build out their control frameworks, industry examples, why businesses should be thinking about this now, and what this means for boards and investors. 

References:

Service Organisation Assurance Reporting (SOAR) - KPMG United Kingdom

Internal controls | What can assurance cover? | ICAEW

Information for management of a service organization in a SOC 1® engagement (aicpa.org)

2017 Trust Services Criteria (With Revised Points of Focus – 2022) | Resources | AICPA

CSRD: Is your organisation prepared for a new level of ESG reporting?

The EU’s new Corporate Sustainability Reporting Directive also known as the CSRD is transforming ESG reporting. Almost 50,000 companies are subject to mandatory sustainability reporting. Even companies with longstanding experience in sustainability reporting will likely require advancements in their ESG data collection, processing, and reporting systems. The clock is ticking for CSRD reporting and companies should ask whether they are ready.

Is Transparency on Track?

In this episode, Alexia Perversi, Senior Manager of ESG Reporting, our host for this episode is joined by Tatiana Hardy-Stotz, Senior Manager of ESG Reporting to talk through some of the headlines uncovered as part of KPMG's UK Sustainability Survey report titled, Is Transparency on Track?.

 

With an increasing volume, breadth and depth of ESG disclosures and data being prepared and reported year-on-year means that ESG reporting can no longer be a once-a-year 'tick-box' exercise. Listen as our experts showcase a few of the headline statistics we uncovered as part of our review of the annual reports and ESG reports from 100 of the UK's most valuable private and listed companies.

 

Read the full report here.

Reflections of COP27 - The future of ESG reporting and assurance

In this episode, we are joined by George Richards, our Partner and Head of ESG reporting and assurance, and Sahil Malhotra, our Senior Manager for ESG reporting where they share their views on all things COP27. With an increased focus on reporting frameworks, ESG reporting readiness, and a renewed focus on assurance, how can companies report in a meaningful way?

 

Listen as our experts explore how companies can report in a meaningful way, what has happened since COP26, and more importantly, what we can expect to come in the future.

Artificial Intelligence (AI) – what does this mean for audit and how can businesses leverage technology?

What does the future of audit look like? How are businesses using cutting-edge technology, automation and AI for audit and assurance engagements to manage risk and obtain assurance?

In this episode we are joined by our Chief Technology Officer, Matt Campbell, who answers these questions and shares his views as to how technology can achieve an audit that delivers quality, provide fresh insights, and can ultimately help to shape the future of your business.

People, planet and profit: Building trust and integrity in the boardroom

In this episode we are joined by Oonagh Harpur to explore culture – how it can be measured, what it means for boards and the implications for corporate reporting and assurance.

Oonagh is our Independent Non-Executive Director and has over 30 years’ experience in the boardroom including 14 years in CEO roles in the private, public and third sectors and she openly shares her views and experiences on why culture is important and its relation to reputation, strategy and ESG.

In conversation with Jon Thompson from the FRC

In this episode, Sir Jon Thompson, Chief Executive of the Financial Reporting Council (FRC) shares his views on the progress made on the Department for Business, Energy and Industrial Strategy (BEIS) consultation on “Restoring trust in audit and corporate governance”. Launched in March 2021, this consultation was seen by many as a once-in-a-generation opportunity to reform the corporate regulatory landscape and received thousands of responses. Listen as Sir Jon discusses the latest developments since our first BEIS conversation last year and shares his insights on how the FRC is evolving, market competition, investor engagement and also the attractiveness of the UK as a place to do business and the attractiveness of audit profession in particular.

 

We also cover the recommendations on what companies should be focusing on in this reporting season, whether they should start making changes now or wait for further guidance.

Ukraine crisis: what global geopolitical volatility means for business

As the Russian-Ukraine war unfolds, companies have had to move quickly to ensure the safety of their workers while girding themselves for the economic impacts and operational disruption to come. In this episode we are joined by Derek Leatherdale, Managing Director at GRI Strategies Ltd, to help explore the key areas boards need to consider whether that be re-evaluating their businesses in the region or managing the new risks faced by a global economy already struggling with inflation and supply chain disruption.

Future of Audit Global podcast - Innovation in audit

This episode discusses innovation in audit and how technology, including AI and new ways of working, are shaping the future of the profession.

Hosted by Larry Bradley, we hear from Eli Fathi, Chair and former CEO at MindBridge, Sebastian Stöckle, Global Head of Audit Innovation at KPMG International and Kristy Carscallen, Head of Audit for KPMG in Canada.