ICSA: The Governance Institute consults on the effectiveness of independent board evaluation

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18 Jun, 2019

ICSA: The Governance Institute has published a consultation on the effectiveness of independent board evaluation in UK listed companies.

The consultation is being carried out at the request of the Department for Business, Energy and Industrial Strategy (BEIS) in response to its feedback statement on Insolvency and Corporate Governance. The review will assess the quality of independent board evaluation and identify ways in which board evaluation might be improved. In particular, the consultation seeks views on whether there is a need for:

  • a code of practice for the providers of board evaluation services and formal arrangements for implementing and monitoring such a code;
  • voluntary principles to be applied by listed companies when engaging external reviewers to undertake board evaluations; and
  • guidance for listed companies on disclosure of the conduct and outcomes of their board evaluation, in accordance with the 2018 UK Corporate Governance Code.

Draft versions of these three resources are also included in the consultation.

The deadline for comments is 5 July 2019. The consultation can be accessed on the ICSA: The Governance Institute website.

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