The Financial Reporting Council (‘FRC’) have released the annual report for 2016 on developments in corporate governance and stewardship .
The Financial Reporting Council (‘FRC’) have released the annual report for 2016 on developments in corporate governance and stewardship. The key findings were:
In their press release the FRC commented:
“Compliance with the principles of the UK Corporate Governance Code remains high; however, when boards choose not to follow provisions too many explanations are of poor quality. This suggests that some boards still need to do more than pay lip service to the needs of their shareholders and other stakeholders. The FRC believes more focussed reporting by boards on how they discharge their responsibilities is necessary and has asked for more oversight powers from Government to help achieve this.”
Further update to the corporate governance code is expected in 2017.
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