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Manifest-i - September 06

Governance

Companies

iSOFT suspends director and admits accounting failures

The Financial Services Authority (FSA) has opened an official investigation into the accounting irregularities at software company iSOFT. The FSA launched this inquiry as a result of receiving from iSOFT the results of the company’s initial investigation into the matter. More >>

Standards & Guidance

ABI calls for action to curb big four auditor power

The Association of British Insurers (ABI) has suggested that concerns about concentration in the audit market be addressed by requiring large audit firms with an “excessive” share of the market to divest part of their business. More >>

Activism

Proxy results due for Heinz board elections

Heinz, the US food company, predicted activist investor Nelson Peltz would not succeed in having all five of his director nominees elected to its board following its AGM last month (16 August).

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Research

CEOs concerned about compliance costs

Chief executives (CEOs) globally are concerned about the level of governance rules and compliance costs. In a survey of over 200 CEOs from 21 countries 97% raised the issue of increased compliance expenditure, according to the New York Stock Exchange (NYSE). More >>

People

Indra Nooyi promoted to CEO position at PepsiCo

Indra Nooyi has been appointed chief executive of PepsiCo, the US beverage company, effective 1 October. More >>

Conferences

Topical governance and CSR-related conferences.

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Corporate Social Responsibility

Environment

BP shuts down part of Alaskan oil field after leak

Oil giant BP has shut down its Prudhoe Bay field in Alaska as a result of uncovering severe corrosion in pipelines and a spill of four to five barrels occurring in a transit line.

More >>

Health & Safety

HSC reports record low levels of fatalities at work in UK

Fatal injuries to British workers are at a record low, according to figures from the Health and safety Commission (HSC). More >>

Best Practice & Ethics

Apple improves conditions at Chinese manufacturing sites

Apple Computers has uncovered violations to its supplier code of conduct at its iPod manufacturing facilities in China. More >>

Academic Round up

Manifest-I presents a summary of recently released academic papers on international corporate governance issues.

More >>

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