PRACTICE NOTES
Board Evaluation under the UK Corporate Governance Code and QCA Code: Framework, Processes, Reporting and CGI Guidance
This Practice Note outlines the board evaluation process, covering what it entails, why it is undertaken, common issues and pitfalls, and the relevant requirements and guidance...
The regulatory framework UK Corporate Governance Code
The UK Corporate Governance Code (UKCG Code), issued and overseen by the Financial Reporting Council (FRC), sets the benchmark for good governance of companies with a listing of equity shares in the equity shares (commercial companies) category, whether incorporated in the UK or elsewhere, and includes a number of recommendations on the board evaluation process...
The FRC’s Corporate Governance Code Guidance accompanies the UKCG Code. For general information on its application, aims and provisions, see Practice Note: The UK Corporate Governance Code...
The UKCG Code advises premium listed companies to conduct a formal, rigorous annual review of the board, its committees, the chair and individual directors...
That annual evaluation should examine composition, diversity, and how effectively members work together to deliver objectives. Individual assessments should show that each director continues to contribute effectively. For further details, see Resource Note: UK Corporate Governance Code—Section 3—Composition, succession and evaluation. As with...
Corporate