The Institute of Directors has called for the supervision of UK governance to be removed from the Financial Reporting Council and placed with a new independent commission.
One of the UK's leading business groups has called for a new commission to supervise corporate governance, separating the task from the existing watchdog, the Financial Reporting Council (FRC).
The Institute of Directors (IoD) said the UK needs an "independent' corporate governance commission so that the FRC can focus on its core task of supervising accounting, audit and auditors.
In response to a government consultation on the future of the FRC, Dr Roger Barker, head of governance at the IoD, said recent company collapses had created "legitimate concerns" about the role of the accounting watchdog. Governance, he said, was a "qualitativ
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