2016 UK Corporate Governance Code—Section C—Accountability [Archived]
2016 UK Corporate Governance Code—Section C—Accountability [Archived]

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • 2016 UK Corporate Governance Code—Section C—Accountability [Archived]
  • Mini-index
  • Section C—Setting the scene
  • Section C.1—Financial and Business Reporting
  • Main Principle C.1
  • Supporting Principles to Main Principle C.1
  • C.1—UKCG Code Provisions
  • Section C.2—Risk Management and Internal Control
  • Main Principle C.2
  • C.2—UKCG Code Provisions
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for Corporate lawyers?

This archived Resource Note outlined the main provisions of Section C of the 2016 UK Corporate Governance Code (UKCG Code), on 'Accountability', and highlighted relevant third party materials, guidance, commentary and analysis, as well as our own resources, to give practical guidance on its application.

Materials covered in this Resource Note include:

  1. the Financial Reporting Council (FRC)'s Guidance on Audit Committees

  2. the FRC's Guidance on Risk Management and Internal Control and Related Financial and Business Reporting (September 2014) (2014 Guidance)

  3. the FRC’s 2018 FRC Guidance on Board Effectiveness

  4. Guidance on terms of reference for the audit committee published by the Chartered Governance Institute (previously known as ICSA: The Governance Institute) (CGI)

  5. the Stewardship Guide and Voting Guidelines 2020 published by the Pensions and Lifetime Savings Association (PLSA)

  6. the UK Shareowner Voting Guidelines, published by Pensions Investment Research Consultants Ltd (PIRC), available

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