In today's complex and volatile business landscape there’s an increasing scrutiny on the role and performance of the board. In response to these increasing enhance your board performance with ICAEW’s new online programme. The e-learning provides a benchmark framework for directors to measure their own role and competencies, through the use of webinars, eLearning, case studies, and training films. 50% off for ICAEW members.
A roundup of current and recently concluded corporate governance reviews and inquires
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.
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.
This page lists the key milestones in the development of UK corporate governance beginning with the Cadbury Report. It includes significant reports and reviews, code changes and ICAEW initiatives.
Articles and features
Corporate governance and internal control weaknesses are often the root cause of corporate failure. However, without fully understanding the subtleties at play, revisions to the Corporate Governance Code will only go so far in addressing the problems.
The government’s plans to improve audit quality in the UK are centred around broadening competition for larger listed company audits. More consideration needs to be given to the impact of regulation on the willingness and ability of challenger firms to step up.
ICAEW’s response to the FRC’s consultation on revisions to the Corporate Governance Code stresses that the future of corporate governance is as much about nurturing good behaviours as it is about preventing corporate failures.
ICAEW welcomes proposed statutory guidance that establishes a corporate governance code for local authorities in England, but says councillors need better training and support if they are to be able to hold leaders to account.
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
Webinars and other recordings
Trust in business and other institutions, such as Parliament and the press, has been declining for decades. How do we reverse the tide? Do the measures in the BEIS whitepaper set out a path to build back trust?
The BEIS whitepaper proposes replacing the current regulator, the Financial Reporting Council, with a new, more powerful body, the Audit Reporting and Governance Authority – ARGA. ICAEW’s Iain Wright is joined by a mega-panel of experts to discuss this proposal.
The BEIS consultation on audit and corporate governance reform proposes sweeping changes that will have a profound impact on the way corporate Britain operates. Why is this necessary now? What will it mean in practical terms? And is the timing right?
This webinar looked at the main insolvency reforms contained in the new Corporate Insolvency and Governance Act 2020.
This webinar will help with understanding the FRC’s revised Stewardship Code
This webinar looks at a number of recent Operational Case reports published by the commission and consider how these would inform internal and external audit work in the sector. The topics covered include conflicts of interest and how to manage them, property purchase and sale, charity rationalisation and merger, and the charity governance code.
Simon Lowe, Chairman of Grant Thornton Governance Institute, and Elizabeth Richards, Head of Corporate Governance, ICAEW, discuss the factors that constitute effective corporate governance.
Disclaimer: The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.
Corporate Governance representations
A representation dated 13 September 2023 to a consultation published by FRC on 24 May 2023. Restoring trust in the UK’s corporate reporting, governance and audit regime requires a fully ‘joined-up’ approach to reform.
A representation dated 30 June 2023 to a consultation published by FCA on 3 May 2023.
A representation dated 7 February 2023 to a consultation published by the FRC in November 2022.
A response dated 18 November 2021 to a consultation published by FRC in August 2021.
Bloomsbury Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.
A chapter examining the concept of 'corporate governance' and its growth and development in England, including the UK Corporate Governance Code.
Overview of key recommendations made for directors' remuneration, as well as the statutory and common law position.
An overview of the corporate governance framework in the UK and the evolution of the UK’s Corporate Governance Code.
An overview of internal control and risk management in the UK’s Corporate Governance Code, with four example checklists.
The meaning of corporate governance and how to apply its theories in practice are covered in this eBook section.
The full text of the Combined Code and related documents issued by the Financial Reporting Council.
The Library & Information Service provides a collection of eBooks as a benefit of membership. Please note that ICSA 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
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.
A user-friendly guide to compliance for corporate accountants.
FRC report from November 2022, which gauges the quality of reporting against the UK Corporate Governance Code 100 FTSE 350 and Small Cap companies were assessed. Previous editions can also be viewed
Leading global proxy solicitor, shareholder engagement firm and corporate governance advisors Georgeson publish an annual review of trends from European AGMs covering the following jurisdictions: UK, France, the Netherlands, Germany, Switzerland, Italy and Spain (a separate report is published on Denmark). Each countries entry is divided into three sections: voting; proxy advisers; corporate governance developments.
Results from the latest PWC survey, which received responses from 663 public company directors. Provides in-depth analysis of contemporary governance trends and emphasises how boards are reacting to a rapidly evolving governance landscape.
A review of the annual reports of 281 of the UK’s FTSE 350 companies with years ending between April 2019 and April 2020. As well as assessing compliance with the UK Corporate Governance Code, the review considers the application, namely quality and detail of explanations, and draws attention to best practice and emerging trends in narrative reporting.
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