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
-
News BriefSEC exam priorities for 2026 signal heightened focus on firmwide compliance
The U.S. Securities and Exchange Commission’s (SEC) Division of Examinations released its 2026 examination priorities, which give companies a roadmap of areas of heightened risk and regulatory focus for next year.
-
ArticlePharma sector boom puts pressure on compliance to counter financial crime
Regulation is a matter of life and death in the pharmaceutical industry. Rules to combat practices that can kill have been in force for decades, but tech developments are rapidly creating new risks and focusing lawmakers’ attention on areas where some compliance teams may lack experience.
-
News BriefCostco sues federal government over Trump-era tariffs, seeks refund rights
Wholesale retailer Costco would like a tariff refund from the U.S. government, if the U.S. Supreme Court rules that President Donald Trump overstepped his authority by imposing them.