FRC updated Practice Aid for audit committees

The Financial Reporting Council (FRC) published an updated version of its Practice Aid for audit committees in December 2019. The practice aid provides guidance on audit quality evaluation to help audit committees with their assessment of the external audit process. The updates take into consideration developments in the governance and auditing framework since the first … Read more

New Stewardship Code

In November 2019, the Financial Reporting Council (FRC) published the final form of the new UK Stewardship Code. The Financial Conduct Authority (FCA) also published a feedback statement on effective stewardship. Stewardship Code 2020 The Stewardship Code seeks to improve long-term returns to beneficiaries by enhancing the quality and quantity of engagement between investors and … Read more

Gender diversity – Hampton-Alexander Review

The Hampton-Alexander Review aims to improve the representation of women in leadership positions of FTSE 350 companies and has set a target of having 33% of all board and senior leaderships positions to be held by women by the end of 2020. In November 2019, the Review published its 2019 FTSE Women Leaders Report on … Read more

Updated institutional investor voting guidelines

Institutional Shareholder Services (ISS) published its proxy voting guidelines for 2020 and Glass Lewis published its 2020 proxy paper guidelines for the UK in November 2019. ISS Proxy Voting Guidelines Changes in the 2020 edition of ISS’s proxy voting policies (which apply to shareholder meetings taking place on or after 1 February 2020) include: Board … Read more

New QCA Audit Committee Guide for Small and Mid-size Quoted Companies

The Quoted Companies Alliance (QCA) published a new version of its Audit Committee Guide for Small and Mid-Size Quoted Companies, in September 2019, which sits alongside its Corporate Governance Code. It replaces the previous version of the Guide issued in November 2014. The changes to the 2014 version of the Guide reflect changes in practice, … Read more

Updated Best Practice Principles for Providers of Shareholder Voting Research & Analysis

In July 2019, the Best Practice Principles Group published its 2019 Best Practice Principles for Providers of Shareholder Voting Research & Analysis. The 2019 Principles have been updated to reflect the European Securities and Markets Authority (ESMA) 2015 Follow-Up Report on the Development of the Best Practice Principles for Providers of shareholder voting research and … Read more