New governance standards

07/06/2010

The Financial reporting Council (FRC) has introduced changes to the UK Corporate Governance Code – formerly known as the Combined Code – to help company boards become more effective and more accountable to their shareholders.

Changes include a clearer statement of the board’s responsibilities relating to risk, a greater emphasis on the importance of getting the right mix of skills and experience on the board, and a recommendation that all directors of FTSE 350 companies are put up to re-election every year.

Source: PQ Magazine 07/06/10

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