Governance in Brief — Are you at risk for your new year?
This publication from Deloitte has been issued to increase awareness of the new requirements of the updated UK Corporate Governance Code and the Guidance on Risk Management, Internal Control and related financial and business reporting, published by the FRC in September 2014.
The changes are designed to emphasise the importance of board monitoring of the company's risk management and internal control systems throughout the year, rather than undertaking a one-off, annual review.
The requirements also encourage deeper involvement by boards in risk management and internal controls. The disclosures required for future annual reports (periods beginning on or after 1 October 2014) are a big step ahead of current practice in telling the stewardship story.
