Is the Combined Code still fit for purpose?
Posted by John Collier in Financial reporting on Tue, 30/06/2009 - 14:34
- The FRC's Combined Code failed big banks and as a result is being challenged more than ever before
- The code isn't to blame; the fault lies in its application
- The UK's code was widely praised but it hasn't prevented failure here more than anywhere else
- We should concentrate more on out the outcomes than the code's processes
The Financial Reporting Council’s Combined Code on Corporate Governance has failed big banks and financial services companies, so should it still be considered the ‘gold standard’ when it comes to small businesses? John Collier of The NEDGroup reports.
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