UCL School of Management Professors Alan Parkinson and Lynsie Chew were recently invited by a number of universities across Hong Kong and Seoul to facilitate and host interactive sessions on a range of pressing topics. From the impact of environmental, social and governance (ESG) regulation on existing and prospective businesses to audit scandals and failures, Alan and Lynsie visited the University of London, Hong Kong School of Professional and Continuing Education (HKUSPACE), as well as ACCA Hong Kong and Singapore Institute of Management (SIM).

In Hong Kong, Alan and Lynsie orchestrated an interactive session reviewing the impact of ESG regulations on businesses, which saw both in-person and online attendees considering the ever-increasing presence of ESG regulations, particularly within the context of reporting requirements within organisations. The session then explored the history of ESG from the 1980s to the current and future landscapes and subsequently highlighted the contrasting views on the subject that have emerged as a result.

Pointing to a number of publications on the subject, the professors note a recent McKinsey report, which observes that organisations are adopting one of three ESG mindsets: minimum practice, common practice, and ‘next level’ practice. To conclude the lively session, Alan and Lynsie hosted another presentation to an audience of qualified accountants on UCL School of Management’s joint venture with the University of London’s online MSc Professional Accountancy programme (MPAcc).

In South Korea, Alan and Lynsie were invited by Singapore Institute of Management (SIM) and ACCA Asia Pacific to present their findings on the efficiency and effectiveness of the auditing process. Attendees included finance professionals from the leading accountancy/auditing firms, as well as representatives from the British Chamber of Commerce in Korea (BCCK), who were then asked to review the evidence. In addition, Alan and Lynsie explored recent audit failures and scandals, while balancing these scenarios against the challenges facing the audit process within the context of the wider business landscape. To conclude the session, the votes were counted. Those present acted as the jury, with 25% voting Guilty of Failure, 30% voting Not Guilty, and 45% opting for Case Not Proven.