The corporate governance regime

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Corporate governance is the system of rules, practices and processes that are put in place to manage and control a company. A business that has effective corporate governance policies in place is likely to build an environment of trust, transparency and accountability and contribute to a more inclusive society by ensuring the interests of all its stakeholders are balanced. Good corporate governance is also believed to contribute to successful company performance and help businesses foster growth, long-term investments, financial stability and business integrity.

For a consideration of the approach to corporate governance taken in the UK, see Practice Note: The corporate governance regime—fundamentals.

Corporate governance codes in the UK

The corporate governance environment in the UK has been evolving since the late 1980s.

The UK’s first corporate governance code had its beginnings in a report issued by the Committee on the Financial Aspects of Corporate Governance. The committee, chaired by Sir Adrian Cadbury, was established in May 1991 to review the aspects of corporate governance relating to financial reporting and accountability. Its final report, The Financial Aspects of Corporate Governance (usually known as the Cadbury Report),

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