“Quality of corporate governance in UK plc remains high” according to latest FRC report
Corporate governance levels in the UK remain high according to the Financial Reporting Council’s (FRC) ‘Developments in Corporate Governance and Stewardship 2015’.
The report suggests that there has been a slight dip in strict compliance with the UK Corporate Governance Code, which is largely accounted for by new entrants to the market explaining evolving governance, as well as companies deciding to await the implementation in law of the EU Audit Regulation and Directive (ARD) requirements on audit re-tendering and rotation. Nevertheless, this has been accompanied by an improvement in the quality of explanations, which demonstrates “a more thoughtful approach” towards governance.
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