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GMI Blog – Study Confirms the Buffet Rule on Boards: Collegiality Trumps Independence
The following entry appeared as part of Governance Metrics International’s GMI Blog. GMI is the leading independent provider of global corporate governance and ESG ratings and research. Corporate stakeholders – including leading investors, insurers, auditors, regulators and others – use GovernanceMetrics services to identify and monitor risks related to non-financial measures covering key environmental, social, governance and accounting risk factors.
The LDP’s “Headquarters for the Economic Revitalization of Japan” Makes Proposals for Corporate Governance Reform
In its excellent May 10th Interim Report, the LDP's Headquarters for the Economic Revitalization of Japan 1) promised to make the introduction of one independent outside director a certainty within the year; 2) proposed rules to require public companies do disclose their policy and actions (numbers trained) with respect to training of newboard members,and continuing trainng; and 3) promised toconsidermeasures to abate cross-shareholdingsby banks, including the prohibition thereof.
Mizuho Financial Group: Shareholder Proposal re Disclosure of Director Training Policy for the Second Year in a Row
Mizuho FinancialGroup'sproxy materials this year contain the same shareholder proposal as last year, askingfor achange the Articles to require the company todisclose itscompany policy and actions regarding board training. Last year this proposal was approved by 29% of voting shareholders,which seems to have been the4th or 5thhighest support ratio among all shareholder proposals in Japan that year. Management opposes the proposal.
METI Study Groups on Corporate Accounting, Disclosure/CSR Policy, and Corporate Governance
METI has establshed study groups on (1) Corporate Accounting, (2)Disclosure and CSR Policy and (3) Corporate Governance mainly during the last year. Many useful points of of view were exchanged, and most of the materials – and summaries of the meeting dialogues – were made public, and are available from the link below.
Article: The Decline of Accounting and the Rise of Forensic Finance
The following entry appeared as part of Governance Metrics International’s GMI Blog. GMI is the leading independent provider of global corporate governance and ESG ratings and research. Corporate stakeholders – including leading investors, insurers, auditors, regulators and others – use GovernanceMetrics services to identify and monitor risks related to non-financial measures covering key environmental, social, governance and accounting risk factors.
ProNed’s White Paper: Replete Analysis of “Non-Executive Officers in TSE Listed Companies”
ProNed hasproducedtheEnglish version of our 2012its corporate board white paper analyzing trends in the usage, backgrounds, voting support, and many other factors related to outside board members in Japan. The English version has more extensive annotation than the Japanese original and is designed to help a non-Japanese audience understand the relevant context of the data and analysis. As in previous years, the areas covered are Japan corporate board trends and shareholder voting activity.
Opinion on the Standard Setting to Address Risks of Fraud in an Audit (Business Accounting Council, Japan)
1. Background
Under current Auditing Standards, an auditor is required to perform an audit
DDI’s “Global Leadership Forecast” Shows Japanese Companies’ Self-Evaluation is Low
Only 38 percent of leaders and 26 percent of HR professionals in the global sample reported that the quality of leadership in theirorganization was very good or excellent (see Figure 3). Considerably fewer leaders and HR professionals in Japan (less than 5 percent in both groups) reported that the quality of leadership in their organization was high or very high.
“The Future of Fraud Detection” (and the incidence and costs of fraud)
The following entry appeared as part of Governance Metrics International’s GMI Blog. GMI is the leading independent provider of global corporate governance and ESG ratings and research. Corporate stakeholders – including leading investors, insurers, auditors, regulators and others – use GovernanceMetrics services to identify and monitor risks related to non-financial measures covering key environmental, social, governance and accounting risk factors.