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UK Governance Reputation at Risk

UK Governance Reputation at Risk

by Starling Insights

Starling Insights Editorial Board

Oct 06, 2023

Observations

Governance, Audit & Regulatory Failures Audit Governance Codes The Era of Accountability UK

Responding to the Financial Reporting Council's (FRC) proposed changes to the Corporate Governance Code, the Institute of Chartered Accountants in England and Wales (ICAEW) has expressed concerns about the potential decline in the UK's global reputation for best practice in corporate governance.

According to ICAEW, the proposal falls short of incorporating essential aspects of the new G20/OECD Principles for Corporate Governance. "We would have liked to have seen a more joined-up review of the Code and associated guidance as that would have given a clearer picture of what the proposed changes are likely to mean in practice," said Peter van Veen, Director of Corporate Governance and Stewardship at the ICAEW.

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