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UK FRC Dispels Governance and Stewardship Myths

UK FRC Dispels Governance and Stewardship Myths

by Starling Insights

Starling Insights Editorial Board

Mar 13, 2023

Observations

Governance, Audit & Regulatory Failures Audit UK Governance & Metrics Governance Codes Managing Culture & Conduct for Good Governance UK FRC

The UK Financial Reporting Council (FRC) recently published a "mythbuster" document on corporate governance and stewardship, which sought to dispel common misconceptions and provide greater clarity around these concepts.

The FRC explains therein that, while it does not have enforcement powers regarding the governance code, companies must "comply or explain." If a firm does not comply, and does not provide a high-quality explanation as to why, the FRC will send them recommendations for improving reporting.

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