Corporate Governance reminders

For listed companies and groups, a real area of change will be the requirement to apply the 2014 version of the UK Corporate Governance Code. Applicable for periods commencing on or after 1 October 2014, key changes have been made in relation to going concern, risk assessment and internal control including a requirement for Boards to provide a longer-term viability statement.  

In addition to the changes as a result of the application of the 2014 version of the UK Corporate Governance Code, there are a number of other areas that audit committees and other non-executives should be focusing on as they head into the 2015 reporting season.  These include areas of focus from the Financial Reporting Council’s (FRC's) Corporate Reporting Review, understanding the threats of a cyber attack to their organisation and also keeping abreast of the latest developments in audit reform in the UK.

This page provides a wealth of resources on all of these areas to compliment our comprehensive year-end briefing for audit committees.  Quick links to other resource pages including the UK Corporate Governance Code, Guidance on Risk and Internal control and checklists to assist companies to comply with current governance, legislative and regulatory requirements are also provided.

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Related resources

Governance in brief — New 2019 reporting requirements for large private companies - a reminder Image

Governance in brief — New 2019 reporting requirements for large private companies - a reminder

17 Oct, 2019

This publication covers the new governance-related reporting requirements for large private companies in annual reports for periods commencing on or after 1 January 2019.

Governance in brief — The Wates Corporate Governance Principles for large private companies Image

Governance in brief — The Wates Corporate Governance Principles for large private companies

18 Dec, 2018

The Wates Principles are a set of six high level principles of corporate governance issued to help the largest private companies meet the new legislative requirement to report on their corporate governance arrangements for periods commencing on or after 1 January 2019. It is a voluntary framework which adopts the “apply and explain” approach. Guidance is provided with each principle, not as requirements, but to help companies understand how they can apply the principles.

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New Code launched for corporate governance of large private companies

14 Dec, 2018

A new code for the corporate governance of large private companies has been launched.

Governance in brief — GC100 issues practical advice to directors on performance of their s172 duty Image

Governance in brief — GC100 issues practical advice to directors on performance of their s172 duty

06 Dec, 2018

GC100, the group of General Counsels of the FTSE 100, has issued updated guidance to help directors in performance of their duty under section 172 of the Companies Act 2006.

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The Hampton-Alexander Review publishes its 2018 Report

30 Nov, 2018

The Hampton-Alexander Review is an independent, business-led initiative supported by Government and is the successor to the five-year Davies Review into Women on Boards. Its initial report, published in November 2016, set a five key recommendations aimed at increasing the number of women in leadership positions of FTSE 350 companies.

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GC 100 provides guidance to directors on s172

29 Nov, 2018

The GC 100 has issued guidance which aims to provide practical help to directors on their performance of the section 172 duty.

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Investment Association publishes updated Principles of Remuneration

28 Nov, 2018

The Investment Association (IA) has published its updated Principles of Remuneration ("the Principles").

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FRC Lab report on on business model reporting and risk and viability reporting

18 Oct, 2018

A new report from the Financial Reporting Lab of the Financial Reporting Council (FRC) considers how reporting practice has changed since the Lab published its original reports on business model reporting and risk and viability reporting.

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New company reporting requirements for private and public companies approved by Parliament

26 Jul, 2018

The Companies (Miscellaneous reporting) Regulations 2018 have been approved by Parliament.

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Hampton-Alexander review publishes latest figures for women on boards

03 Jul, 2018

The Hampton-Alexander review has published latest figures for women on boards which indicate that whilst there are “more women than ever” on the boards of the UK’s largest companies, there is still “some way to go” to meet the targets it has set for 33% women on FTSE 350 boards by the end of 2020.

Need to know — Government publishes new company reporting requirements for private and public companies in response to its consultation on Corporate Governance Reform Image

Need to know — Government publishes new company reporting requirements for private and public companies in response to its consultation on Corporate Governance Reform

21 Jun, 2018

The Companies (Miscellaneous reporting) Regulations 2018 (the draft Regulations) have been laid before Parliament and make the legal changes necessary for the Government’s package of corporate governance reforms announced by the Department for Business, Energy and Industrial Strategy (BEIS) in August 2017.

Governance in brief — BEIS issues legislation to deliver key corporate governance reforms Image

Governance in brief — BEIS issues legislation to deliver key corporate governance reforms

20 Jun, 2018

The Companies (Miscellaneous Reporting) Regulations 2018 have been laid before Parliament. These represent the legislative strand of the Government’s package of corporate governance reforms announced by BEIS in August 2017.

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FRC publishes consultation on corporate governance principles for large private companies

14 Jun, 2018

The Financial Reporting Council (FRC) has published a consultation paper on corporate governance principles for large private companies on behalf of James Wates CBE, Chair of the Coalition Group (the Principles).

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BEIS issues legislation to deliver key corporate governance reforms on pay and stakeholder engagement

11 Jun, 2018

The Companies (Miscellaneous Reporting) Regulations 2018 have been laid before Parliament. These represent the legislative strand of the Government’s package of corporate governance reforms announced by BEIS in August 2017.

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QCA publishes a revised version of its Corporate Governance Code

26 Apr, 2018

The Quoted Companies Alliance (QCA) has published a revised version of its Corporate Governance Code.

Deloitte comment letter on proposed revisions to the UK Corporate Governance Code Image

Deloitte comment letter on proposed revisions to the UK Corporate Governance Code

28 Feb, 2018

We have published our comment letter on proposed revisions to the UK Corporate Governance Code published by the Financial Reporting Council (FRC) in December 2018.

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We comment on proposed revisions to the UK Corporate Governance Code

28 Feb, 2018

We have published our comment letter on proposed revisions to the UK Corporate Governance Code published by the Financial Reporting Council (FRC) in December 2018.

Governance in focus — On the audit committee agenda 2018 Image

Governance in focus — On the audit committee agenda 2018

01 Feb, 2018

On the audit committee agenda supplements our comprehensive November round-up with a summary of additional pertinent matters for audit committees to inform 2017/18 annual reports.

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Governance in brief — FRC consults on a new-style UK Corporate Governance Code

05 Dec, 2017

The FRC has published a new-style UK Corporate Governance Code for consultation together with revised Guidance on Board Effectiveness and some questions on the future of the Stewardship Code. This is not a tweaking of the Code as in recent years but a substantial re-write and simplification/reduction with a focus on the company’s approach to governance through the application of the Code principles - principles which emphasise the value of good corporate governance to long-term success. The revised Code also incorporates elements of the Government’s corporate governance reform agenda. The consultation period lasts until 28 February 2018.

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FRC consults on a new-style UK Corporate Governance Code

05 Dec, 2017

The Financial Reporting Council (FRC) has today published a new-style UK Corporate Governance Code for consultation together with revised Guidance on Board Effectiveness and some questions on the future of the Stewardship Code.

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