The following Corporate guidance note provides comprehensive and up to date legal information covering:
This Resource Note outlines the main provisions of Section C of the 2016 UK Corporate Governance Code (UKCG Code), on 'Accountability', and highlights 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:
the Financial Reporting Council (FRC)'s Guidance on Audit Committees
the FRC's Guidance on Risk Management and Internal Control and Related Financial and Business Reporting (September 2014) (2014 Guidance)
the FRC’s 2018 FRC Guidance on Board Effectiveness
Guidance on terms of reference for the audit committee published by the Chartered Governance Institute (previously known as ICSA: The Governance Institute) (CGI)
the Stewardship Guide and Voting Guidelines 2020 published by the Pensions and Lifetime Savings Association (PLSA)
the UK Shareowner Voting Guidelines, published by Pensions Investment Research Consultants Ltd (PIRC), available from PIRC's website
the 2020 United Kingdom and Ireland Proxy Voting Guidelines published by Institutional Shareholder Services (ISS)
the Listing Rules
Disclosure and Transparency Rules
the Companies Act 2006 (CA 2006)
The Statutory Audit Services for Large Companies Market Investigation (Mandatory Use of Competitive Tender Processes and Audit Committee Responsibilities) Order 2014 (Statutory Audit Services Order)
Directive 2014/56/EU of the European Parliament and European Council amending Directive 2006/43/EC (Statutory Audit Amending Directive)
Regulation 537/2014 of the European Parliament and European Council (EU
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