Tag Archives: Financial Reporting Council

The FRC puts the UK Corporate Governance Code on a diet

The Financial Reporting Council has published for consultation its review of the UK Corporate Governance Code.  This follows a fundamental review, with the proposed revised Code being a slim shadow of its former self (13 pages instead of 32).  The FRC describes the result as “shortened and sharpened” but the outcome isn’t radical, with the … Continue Reading

Bringing UK “big business” into line: corporate governance reform

As trailed in our recent blog post, the green paper on the reform of corporate governance was published today by the Department for Business, Energy and Industrial Strategy (formerly BIS).  The paper sets out 14 questions for consultation. The consultation covers three main areas: executive pay, “which has grown much faster over the last two … Continue Reading

Culture Club: FRC strengthens link between company values and executive remuneration

The UK Financial Reporting Council (the FRC) has just published a report entitled “Corporate Culture and the Role of Boards”. This is the result of a mammoth project kicked off in early 2015 by a round-table with FTSE100 chairmen.  Content for the report was produced by a survey of 44 chairmen and 33 company secretaries … Continue Reading

Right said FRED – changes to UK accounting for share options

The Financial Reporting Council has published a consultation on amendments to accounting standard FRS102, which deals with share-based payments (such as options) with a cash alternative.  The amendments are aimed at aligning FRS102, which tends to be used by smaller companies, with the international accounting standards used by listed companies.  The closing date for responses … Continue Reading

Softly softly catchee monkey: New provisions under the UK Corporate Governance Code for directors’ remuneration

The Financial Reporting Council announced on 17 September the release of the updated version of the Corporate Governance Code, after its consultation in April about proposed amendments to the sections on remuneration. There has been a good deal of shuffling sentences about, but there are two main changes that will need to be taken into account by companies for … Continue Reading

UK Directors’ Remuneration: are Cable’s signals getting through?

At the same time as all the publicity about Dr Vince Cable’s appeals to FTSE100 companies for executive pay restraint, the FRC has published the responses to its consultation last autumn about proposed changes to the UK Corporate Governance Code.  A sizeable chunk of these focus on directors’ remuneration and the FRC is consulting further on these … Continue Reading