Corporate governance reform on the anvil in UK

04 Sep '17

1 min read

The United Kingdom’s Financial Reporting Council (FRC) has welcomed the government’s response to its preliminary report on proposals concerning corporate governance reform and will use the feedback to develop its consultation on a fundamental review of the UK Corporate Governance Code later this year as the code approaches its 25th anniversary.

The FRC will carry out a review of the code’s current structure to ensure it promotes trust and integrity in business. The code sets out standards of good practice for listed companies on board composition and development, remuneration, shareholder relations, accountability and audit.

The FRC is an independent British regulator responsible for promoting high quality corporate governance and reporting to foster investment. Maintaining the appeal of UK business to global investors is a key challenge for the government and regulators with Brexit on the horizon, according to a recent FRC press release.

The FRC believes an updated version of the code, along with the government’s proposed Industrial strategy, will boost the British economy and benefit its society. (DS)

Fibre2Fashion News Desk – India

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