Publication

17 June 2022

Stronger internal controls to reduce corporate risks Position paper

This publication recommends six actions to improve the corporate reporting ecosystem. All key parties, and their interactions, will need to evolve to more effectively mitigate the risks of corporate fraud and failures.

Robust corporate governance with stronger internal controls could significantly improve the quality of financial reporting. To achieve this, different parties in the ecosystem need to act: EU and national legislators, supervisors, and financial reporting & auditing standard setters.

One of our proposals is a mandatory public statement by companies on the effectiveness of internal controls over financial reporting which will help ensure that management and board are discharging their responsibilities. Having independent assurance by the statutory auditor on these controls would further enhance their reliability.

Related content

PublicationPublic audit oversight

29 June 2022

EventSustainability assurance under the CSRD: practical implications

22 June 2022

PublicationDefining a public interest entity

21 June 2022

EventESG & Corporate Governance: the evolving role of audit committees

20 June 2022

UpdateAudit Policy

7 June 2022

PublicationNon-audit services

30 May 2022

PublicationMandatory rotation of auditors

30 May 2022

Consultation responseEC’s corporate sustainability due diligence proposal

20 May 2022

EventAudit quality: definition, drivers and indicators

18 May 2022

UpdateAudit Policy

12 May 2022

PublicationSustainability assurance under the CSRD

10 May 2022

PublicationAudit Quality Indicators: a global overview of initiatives

5 May 2022

UpdateAudit Policy

13 April 2022

PublicationESG Governance

12 April 2022

UpdateAudit Policy

10 March 2022

NewsWar in Ukraine – responses from the accountancy profession

9 March 2022

NewsEU Corporate Sustainability Due Diligence Directive: a global milestone that will need further clarity

24 February 2022

NewsExecutive directors’ bonuses must be linked with sustainability objectives

16 February 2022

UpdateAudit Policy

8 February 2022

NewsStronger corporate reporting in Europe – solutions by the accountancy profession

2 February 2022

Sign up for our newsletter

* indicates required
Would you like to subscribe to our newsletter?
On which topics would you like to receive news?