Welcome to the Centre for Corporate Governance
'Comply or explain' and the UK approach to corporate governance have long been hailed as the 'model' for others to follow. It is an approach that relies heavily on the empowerment of shareholders facilitated by full and frank disclosures of the governance arrangements adopted by the company. It relies also on effective monitoring and challenge from independent non-executive directors both at board meetings and in the various committees on which they serve. The current frameworks for corporate governance used in the UK and the rest of the world are under intense scrutiny at present and time will tell whether the UK model emerges unscathed.
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Governance in Brief
Your summary of the latest corporate governance developments.
Corporate Governance Updates
These Updates provide a more in depth review of certain key governance developments.
- Year end dissemination requirements for UK listed companies
- Head start - tackling uncertainties and going concern early
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Inside out - the importance of identifying and disclosing price-sensitive information
Checklists
A series of checklists to assist companies to comply with current governance, legislative and regulatory requirements.
- Corporate Governance Disclosure Checklist - For periods ending on or after 29 June 2008
- Corporate Governance Disclosure Checklist - For periods commencing on or after 1 November 2006 and before 29 June 2008
- Directors' remuneration disclosure checklist for quoted companies - for periods commencing before 6 April 2008
- Directors' remuneration disclosure checklist for quoted companies (Companies Act 2006) - for periods commencing on or after 6 April 2008
- Operating and Financial Review Disclosure Checklist - April 2006
Dig Deeper
Survival or success? Directors' Alert: 10 issues for 2010
This briefing discusses 10 key issues for boards and their organisations to address in the year ahead.
Brave new world - a new focus for governance
This publication sets out a summary of the key new themes contained in the FRC's final report on the review of the Combined Code as well as suggested actions that boards should consider including in their plans for implementation.
A telling performance
A look at what listed companies are reporting in the narrative sections, that is the parts outside the audited financial statements, in their annual reports. A telling performance gives a unique inside view of the latest trends in narrative reporting.
Source guidance from the Financial Reporting Council
Links to relevant source materials from the Financial Reporting Council.
Hot Topics
Reviews of governance arrangements in light of economic crisis
The economic crisis has increased pressure on all listed companies to improve their governance practices. Investors are demanding changes in corporate governance practices at companies where they maintain investments, while the government and regulators are considering the need for change at UK banks and financial institutions as well as at listed companies generally.
To read more, see the following links ...
- Lord Mandelson calls for overhaul of takeover rules
- FSA finalises tough, new framework for financial penalty-setting
- FSA issues a consultation paper on effective governance standards
- FRC consults on Stewardship Code for Institutional Investors
- FRC launches proposed reforms to the UK Corporate Governance Code
- Final recommendations from the Walker Review on governance of UK banks published
- FRC welcomes the Walker Report
- FRC highlights current challenges for audit committees
- Getting it right - A report on risk governance in non-financial services companies
- FSA consults on new rules to link risk management and remuneration policies
- EC sets out principles on remuneration of risk-taking staff in financial institutions
Walker Review Podcast: Challenges facing financial institutions
Our Walker Review podcast focuses on the challenges financial institutions now face and the practical steps they need to take in order to deliver better risk management and risk culture within their organisation.
Deloitte has also produced a client briefing paper entitled ‘Clearing the new hurdle – Governance after Walker’. The paper sets out the key changes from the July consultation paper and highlights actions that BOFIs may consider when implementing Walker recommendations. Please click here to the view the PDF.
Going Concern
The FRC has issued updated guidance for directors of UK companies on going concern and liquidity risk.This page provides links to guidance and consultation papers published by the FRC in recent months.
Positive governance in tough times - Influencing the current debate
Deloitte UK and the Yale School of Management have co-hosted a debate examining the key challenges ahead for corporate governance. John Connolly opened the event and keynote speeches were made by Lord Paul Myners, the City Minister, and Sir Christopher Hogg, Chairman of the Financial Reporting Council. Three panels debated: what should be the board agenda in these challenging times; if risk management needs to change; and if models for reward should change.
To read John Connolly's comments in full please click here.
To read a summary of the comments made in the panel debates please click here.