Updates on UK, EU and other developments. This paper provides a brief update on governance developments since the last Corporate Governance Committee meeting.
The revised code focuses on the crucial themes of stakeholder engagement, culture, diversity and remuneration.
Principles-based regulation should be intuitive. Its application should not require reference to much detail. Existing corporate governance codes should provide a complete set of high-level principles to guide the behaviour of a company board operating in today's business environment.
ICAEW Corporate Governance Committee is delegated by the Institute Council to have specific responsibilities.
Corporate governance overview
The purpose of corporate governance is to facilitate effective, entrepreneurial and prudent management that can deliver the long-term success of the company.
Everyone from shareholders to employees to the public should be able to understand what good corporate governance is. It helps businesses restore confidence.
Company size doesn’t matter when it comes to successful corporate governance.
Comply or explain has been part of the UK corporate governance framework since it was introduced with the Cadbury Code in 1992. It is much admired and used widely in many other countries throughout Europe and beyond.
Articles and features
The publication of a new corporate governance code for private companies has potential implications for private equity-backed companies. But how relevant is it to most UK companies.
The 2018 PwC Building Public Trust Awards took as their theme ‘celebrating openness’
The UK is witnessing a battle to restore trust in business. Governance is more in the spotlight than at any time since the ‘Maxwell years’ which immediately preceded the 1992 Cadbury report.
A roundup of current and recently concluded corporate governance reviews and inquires.
Thought leadership projects
To succeed in the modern world, businesses must move away from defensive old-style news management and corporate positioning. ICAEW argues that if companies embrace a positive approach to corporate governance that ensures they connect with and reflect society, they will reap many benefits.
The ICAEW thought leadership 'Dialogue in Corporate Governance' presents five questions arising from changes in capital markets and how they affect the foundations of existing corporate governance frameworks.
The initiative aims to generate discussion and broaden debate on the differences between US and UK corporate governance systems
Corporate Governance representations
A response dated 17 June 2019 to a consultation published by FRC on 11 March 2019.
A response dated 12 June 2019 to a consultation published by Brydon on 10 April 2019.
A response dated 5 April 2019 to a consultation published by FRC on 30 January 2019.
Review of the Financial Reporting Council by Sir John Kingman - arrangements for auditor procurement and remuneration.
The Library & Information Service provides a collection of eBooks as a benefit of membership. Please note that ICSA and Credo publications are only available to ICAEW members and ACA students. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact firstname.lastname@example.org.
This book advances Intellectual Property reporting in alignment with the key corporate governance principles of transparency and disclosure. It analyses the juncture between the IP ecosystem; corporate finance and accounting for intangibles; and corporate governance.
A collection of stories about how inadequate governance and flawed culture caused a massive destruction of shareholder value.
This title provides comprehensive, expert-led coverage of all aspects of corporate governance for public, nonprofit, and private boards. Provides practical guidance and expert insight relevant to board members across the spectrum to aid the building of a more effective board. Written from the United States perspective.
An essential source of reference and route map for the position of Non-executive director. Contains case studies and checklists throughout.
The ECGI is a forum for debate and dialogue between academics, legislators and practitioners, focusing on major corporate governance issues, promoting best practice. The ECGI maintain a collection of corporate governance codes and principles form around the world.
A review of the annual reports of 3297 of the UK’s FTSE 350 companies with years ending between April 2016 and April 2017 (investment trusts are excluded as they are permitted to follow the AIC Code of Corporate Governance). The 2018 survey found a rise in the number of companies who fully compliant with the UK Corporate Governance Code- now standing at 72%
The annual UK Board Index is a comprehensive review of governance practice in the largest 150 companies in the FTSE rankings, providing a valuable indication of the state of boardroom health. Spencer & Stuart also publish Board Indexes for other countries and regions such as the Nordic Board Index and the Spencer Stuart Board Index of the S&P 500 companies in the USA. The website also had a board composition comparison tool - Boards around the world.
Report from the Institute of Directors (IoD) that ranks the FTSE 100 based on their corporate performance, published annually since 2015.
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