Watchdog tightens leash on governance
Britain's Financial Reporting Council (FRC) has called for companies to consider annual re-election of their boards by shareholders to improve accountability, reports Bloomberg.
The FRC says UK companies must improve risk management to avoid a repeat of the financial crisis. The regulator asked listed companies to respond to proposed changes to the Corporate Governance Code.
The regulator's chairman, Christopher Hogg, says: “The FRC has not found evidence of serious failings in the governance of British business outside the banking sector; however, the proposed changes to the code are in our view, sensible improvements.”
Australian military boosts IT governance
The Australian Department of Defence has signalled a move to low-power, thin-client technology to cut costs and boost security, states Australian IT.
The Defence ICT Strategy 2009 aims to strengthen governance of technology spending, standardise technology and automate processes such as procurement.
The move coincides with a $940-million, four-year exercise to standardise technology operations under a defence integrated environment plan that aims to improve technology capability until 2030.
Philippines IT spending to hit $580m
IT spending by the Philippines public sector is expected to reach $580 million by 2011, as efforts to decentralise IT decision-making start to bear fruit, says Manila Bulletin.
Analyst firm Springboard Research has cited a number of completed projects as good indicators for a positive outlook for government IT spending. Last year, the Philippine government spent about $390 million on IT initiatives.
The firm says projects like community e-centres, iSchool, and the National Telehealth Centre demonstrates the government's commitment to leverage IT to provide better governance, education, and healthcare to its citizens.
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