Tag: comply or explain

Regulator updates UK governance code
Reporting on internal controls is a key feature of the scaled-down 2024 update, as is the principle of ‘comply or explain’.

FCA kills off ‘premium’ stock exchange listing category
Organisations listed in the new ‘commercial companies’ category must report on their UK Corporate Governance Code compliance.

Proxy adviser warns LSE over governance
Abolishing the public register of shareholder revolts ‘won’t stop capital providers exercising their democratic rights’, letter states.

Boards urged to retain ‘beneficial’ reporting elements
Although the government cancelled the requirement, resilience disclosures ‘cannot be wasted effort’, says senior auditco chair.

Boards will need to make internal controls statement
Government legislative agenda sees FRC reduce governance code revisions, but declaration on controls survives the cull.

Record fine for KPMG over Carillion audit
In all, the auditing giant has now been fined £30m for its failures at Carillion, reduced to £21.5m for co-operation.

Financial watchdog highlights reporting issues
Ongoing economic uncertainty has seen some companies struggle to provide useful financial data, the FRC finds.

Business relays UK Corporate Governance Code concerns
Responses to the FRC’s consultation on its proposals highlight practical concerns about implementation and compliance.

Call to reform ‘comply-or-explain’ element of governance
Academics propose that—if refined—the governance principle and the UK’s code will still be fit for purpose.

UK boards face internal controls shake-up
The government’s reform proposals include seeking disclosures from many non-financial public interest entities.