Financial Reporting Council will review UK Corporate Governance Code once outcome of government’s own reform consultation is complete.
The UK's financial reporting watchdog, the Financial Reporting Council (FRC), is to undertake a fundamental review of Britain's corporate governance code, a move that comes in the wake of prime minister Theresa May's desire to see reform. In a statement, the FRC said the review would take account of its work reviewing corporate culture and succession planning, and will begin later this year once responses to the government's own green paper consultation on governance have been completed. Sir Win Bischoff, chairman of the FRC, said: "The prime minister has a vision of an economy that, in her words, ‘works for everyone’. This needs UK businesses to thrive so that all stakeholders including workers, customers, suppliers and society