In Short: FRC Guidance on Board Effectiveness
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The Financial Reporting Council (FRC) has published guidance on board effectiveness to assist listed companies in applying the principles of the UK Corporate Governance Code. The guidance relates to Sections A and B of the Code on the leadership and the effectiveness of the board and is intended to stimulate the board's thoughts on how they can carry out their role more effectively. The guidance replaces the Higgs guidance for good practice.
The new guidance was developed by the Institute of Chartered Secretaries and Administrators (ICSA) on behalf of the FRC. ICSA published a consultation paper in respect of the guidance in July 2010 in respect of which William Fry made a submission.
Contributed by Susanne McMenamin.