When: 7.45am registration, 3 May 2007
Where: Royal Automobile Club, 89 Pall Mall, London, UK
The new Companies Act more fully codifies directors’ duties such that, not only do directors need to act in the way most likely to promote the success of the company for the benefit of its members, they also need to have regard to various other stakeholders. Specifically, provision 173 of the Act requires them to have regard to the environment, the community, customers and suppliers, and employees. The changing legal and operating environment has prompted a variety of responses, ranging from some making high profile announcements on transforming their approach to working with stakeholders through to others developing more integrated, rationalised corporate reporting models.
Management are increasingly being asked to provide balanced, fair and reliable information, going beyond the boundaries of the statutory accounts. Pressure to address corporate responsibility is coming from a number of directions including corporate governance regulations, requirements from pension fund managers and demands from socially responsible investors, suppliers and customers. Our briefing will look at some of the broader legal responsibilities resulting from increased regulation, the direction in which the whole area of corporate responsibility and corporate reporting are moving and what it means for non-executive directors. It will provide a timely update for non-executive directors as it will address:
* the key risks and opportunities presented
* how companies should be responding
* the quality of, and controls supporting, the information being reported
* use of the information by management, including connections to performance objectives
* what the board should be seeing in this area
* the emerging trends in reporting to stakeholders.
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