Publications

The Committee on the Financial Aspects of Corporate Governance, forever after known as the Cadbury Committee, was established in May 1991 by the Financial Reporting Council, the London Stock Exchange, and the accountancy profession. The spur for the Committee's creation was an increasing lack of investor...

The Greenbury Committee was established in 1994 by the Confederation of British Industry in response to growing concern at the level of salaries and bonuses being paid to senior executives. Its key findings were that Remuneration...

This Committee was established in November 1995 by the Financial Reporting Council (and sponsored in part by the London Stock Exchange, Confederation of British Industry, and Institute of Directors) to review matters arising from the Cadbury...

This code was initially derived from the findings of the Committee on Corporate Governance, and has since been regularly revised. Overseen by the Financial Reporting Council and endowed with statutory authority under the Financial Services...

These guidelines were put together by the Institute of Chartered Accountants at the request of the London Stock Exchange in order to inform directors of their obligations toward internal control as specified in the Combined Code...

It was wondered, in the aftermath of the Cadbury Report, where the abundance of talented and conscientious non-executive directors that the system relied upon might come from, and this was still a subject of concern ten years later...

This review was commissioned by the Prime Minister in February 2009 to examine board practices at UK banks, and later extended to other financial institutions, in response to the recent financial crisis and perceived imbalance between...

The Smith Report was a report on corporate governance submitted to the UK government in 2003. It was concerned with the independence of auditors in the wake of the collapse of Arthur Andersen and the Enron scandal in the US in 2002. Its recommendations...

The chairman is pivotal in creating the conditions for overall board and individual director effectiveness, both inside and outside the boardroom. Specifically, it is the responsibility of the chairman to: 1.run the board and set its agenda. The agenda should take full account...

The Guidance on Board Effectiveness is one of a suite of guidance notes issued by the Financial Reporting Council (FRC) to assist companies in applying the principles of the UK Corporate Governance Code. It replaces ‘Good Practice Suggestions from the Higgs Report'...

The UK Corporate Governance Code (formerly the Combined Code) sets out standards of good practice in relation to board leadership and effectiveness, remuneration, accountability and relations with shareholders. All companies with a Premium Listing of equity shares in the UK are ...

This guidance is designed to assist company boards in making suitable arrangements for their audit committees, and to assist directors serving on audit committees in carrying out their role. While boards are not required to follow this guidance, it is intended to assist them when...

In February 2012 the FRC published jointly with the institute of Chartered Accountants of Scotland and the Institute of Chartered Accountants in Australia ‘Walk the Line', a report summarising discussions with the audit committee chairs of leading companies in the UK, Australian ...

In May 2011 the Financial Reporting Council began consulting on possible amendments to the Code that would require companies to publish their policy on boardroom diversity and report against it annually, as recommended by Lord Davies in his ‘Women on Boards' report published in...

During the first half of 2011 the Financial Reporting Council held a series of meetings with companies, investors and advisers to discuss how companies were implementing the new Principle in the UK Corporate Governance Code that boards were responsible for determining the nature and extent of the ...

The purpose of this Guidance is to bring together the requirements of company law, accounting standards and the Listing Rules on going concern and liquidity risk for small, medium and large UK companies and to provide further assistance on their application...