Category: Publication

Consultation Response. International Accounting Standards IAS 1.

LAPFF considers IAS 1 to have serious flaws.  Parliament in 1945 and 1962 concluded that ill-informed parties in investment wanted ‘exit values’ rather than costs in accounts, and had to point out that exit values are only relevant when a business is not a going concern and about to be broken up.  Unfortunately the International […]

NZ Climate Reporting Consultation Response

LAPFF has responded to the New Zealand Government consultation on their proposal to mandate companies to report in a consistent and defined manner how climate change impacts their business and investments. LAPFF agrees with the proposals for new mandatory reporting requirements which should be widespread and implemented on a comply or explain basis. LAPFF agrees […]

Response to the Independent Review of the Financial Reporting Council

LAPFF has responded to the review on the proposed replacement of the Financial Reporting Council (FRC). LAPFF has had concerns about accounting and audit practices since the banking crisis and has stated for some time that there was leadership failure with the FRC, that the FRC needed to be disbanded and replaced, that the position […]

01 May

Employees on boards Modernising governance

The importance of managing people well, and of ensuring that employees are engaged and have a voice at work, has probably never been more high profile in Responsible Investment.Partly this is because some companies have got it wrong – we can all think of examples like Sports Direct or Ryanair. But there are also a […]

Climate Change and Green Finance Submission by Sarasin & Partners LLP and Local Authority Pension Fund Forum

Along with Sarasin and Partners LLP with whom LAPFF submitted this response, the Forum would welcome the FCA, alongside the reconstituted Financial Reporting Council (FRC) 2, confirming the existing requirements for transparent reporting of climate-related risks and providing supportive guidance for how companies should meet their obligations to ensure full disclosure and to support comparability. […]

07 Jan

Are Fund Managers Missing The Target On Stewardship? An Asset Owner Perspective

This report holds a mirror up to the fund management sector with the aim of highlighting where members think it is doing well and where there is room for improvement. By doing so, the aim is to help strengthen the relationship between asset owners and asset managers, and to help ensure LAPFF members get the […]

Irregular status of the FRC – Parliamentary Questions

During 2018, the Financial Reporting Council came under intense scrutiny. Following a Freedom of Information Act request by IPE journalist Stephen Bouvier on the Office of National Statistics, it became clear that the FRC became a public body not in  2017, 2016 or 2014 (the FRC’s account varied) but earlier.   The Bouvier research indicated […]

16 Mar

Precarious Work

As part of its work on human capital management, LAPFF has produced a paper on precarious work. This paper assesses the context, frequency, and implications of precarious work for employers and those people performing work on their behalf. It then suggests why responsible investors should be concerned about this phenomenon. The paper concludes with suggestions […]