ICAEW responds to the Walker Report

Robert Hodgkinson, Executive Director Technical at the ICAEW, comments on the Walker Report's final recommendations on corporate governance in banks and other financial entities.

Robert Hodgkinson said:

"The work that Sir David has undertaken has led to a very comprehensive review of corporate governance within the financial services industry. His recommendations are appropriate and well thought through. The task now is to determine how they should best be implemented.

"I particularly welcome the emphasis he has placed on the training, development and induction for both executive and non-executive directors. This applies to listed companies across all sectors of the economy. Without this, we will not be able to address one of the key issues Sir David and our own research has identified - that whilst corporate governance structures and the combined code are generally fit for purpose, companies could improve the way the principles are applied."

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Contact Heather Coath, ICAEW press office, on 0207 920 8650, 07715 496493, or email heather.coath@icaew.com