U.K. governance code revisions: Boards lead on culture, audit supports
By 
Ruth Prickett2024-02-13T22:12:00
Corporate culture, internal controls, and assurance moved up the boardroom agenda with the publication of the U.K.’s revised corporate governance code and its supporting guidance.
While the code increases focus on the internal controls framework and requires boards to make an internal controls declaration, further details emerged in the guidance, published Jan. 29.
The guidance is not prescriptive, but it defines good practice and clarifies the Financial Reporting Council’s (FRC) intentions.
Related articles
-
PremiumExperts explain why IIA's new global audit rules will be 'central' to securing high-quality assurance
Compliance teams should expect more support from their organization’s internal audit functions. That is the clear message from the Institute of Internal Auditors, the global body of national affiliated internal audit institutes, which has just put into action its new Global Internal Audit Standards.
-
News BriefBank of England report: ’Need to improve’ private equity risk management
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
-
PremiumData, consumer support key to conveying value of compliance
Presenting data to the board and providing examples of positive consumer response to ethical decision-making help compliance departments demonstrate value beyond keeping an organization in line with rules and regulations, experts discussed at Compliance Week’s 2024 National Conference.
More from Regulatory Policy
-
ArticleTrump takes aim at state AI laws, promises federal action on AI legislation
President Donald Trump has issued an executive order aimed at dismantling the artificial intelligence (AI) laws of California, Colorado and three other states with comprehensive laws.
-
ArticleSFO sharpens framework for judging compliance programs in bribery and fraud cases
The U.K. Serious Fraud Office (SFO) has updated its guidance about how it evaluates corporate compliance programs when considering whether to prosecute or offer leniency to companies that have breached bribery and corruption laws.
-
ArticleFINRA annual regulatory report offers AI guidance, points to significant risks
Financial firms seeking guidance on AI, the threat of cyberattacks, market manipulation, or fraud targeting senior clients can turn to annual guidance issued by the Financial Industry Regulatory Authority.