Corporate Law Update – Macfarlanes
FRC consults on proposed changes to the UK Corporate Governance Code
The Financial Reporting Council (FRC) is consulting on changes to its UK Corporate Governance Code which, if implemented, would take effect for financial years beginning on or after 1 January 2025.
The main purposes of the changes are to implement the recommendations of the UK Government’s 2021 white paper on restoring trust in governance and audit and to improve the quality of narrative reporting.
You can read more about the consultation in our separate in-depth piece.
In summary, the key proposed changes to the Code include the following.
A…