2022 Leaders and Directors Corporate Governance Ideas & Codes

2022 Leaders and Directors Corporate Governance Ideas & Codes

This is a round up and signposting of globally recognised reference sources of good corporate governance and ideas, to improve or expand your corporate governance practices.  Each section consists of the heading, an explanatory introduction and a link, which is also the heading, to a pdf of the relevant source document.

2018 UK Corporate Governance Code; effective through 2022

It is strictly only applicable to all FTSE 350 companies, which are those companies with a premium listing on the London Stock Exchange.  It is a best practice standard for all others and questions about its compliance are often included in tenders.  It is published by the Financial Reporting Council.  However, it is a requirement of the Stock Exchange Listing rules that all listed companies must adopt a Corporate Governance Code.  The most common choice is the Quoted Companies Alliance (QCA) Code, which is effectively a cut down version of the UK Corporate Governance Code.

Wates Corporate Governance Principles for Large Private Companies

This is a recently published code, December 2018, that was developed by a working team led by Sir James Wates CBE, the founder CEO of Wates Construction, a very large private company.  He was subsequently knighted for services to Business and Industry in December 2019.

It is intended for those private companies formally defined as “very large”.  These companies must either comply with this code or explain what their alternative corporate governance procedures are.  It is a very practical code as might be expected, it being the brainchild of a man who has professed to an intense dislike of red tape.

EcoDA, Corporate Governance Guidance and Principles for Unlisted Companies in Europe

EcoDA are the umbrella body encompassing 21 national institutes and associations for directors in Europe.  Their national member bodies cover 50,000 individual directors across Europe, with the largest single body being the Institute of Directors in the UK, who have 26,000 members.

These Guidelines are focussed on unlisted companies in Europe.  They embody a phased approach, which recognises that companies need different things at different times in their development cycle.  It takes account of the culture, size, complexity and life cycle maturity of the companies.  It comprises 14 principles, the first 9 of which apply to all unlisted companies, whilst the final 5 only apply to large or complex unlisted companies.

The Global Network Director Survey Report September 2018

This is a very useful report providing plenty of ideas and statistics about current practices and concerns around the world.  It is published by the Global Network of Director Institutes (GNDI).  This is an international network of 21 director institutes.  They are prestigious director and governance bodies within their respective countries and represent more than 150,000 individual directors.

2022 Leaders and Directors Corporate Governance Ideas & Codes

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