On 13 December, ISS published their UK and Ireland Proxy Voting Guidelines and Benchmark Policy Recommendations, which will be effective for meetings taking place on or after 1 February 2023.

On 16 October, the UK government announced it had withdrawn the draft Companies (Strategic Report and Directors’ Report) (Amendment) Regulations 2023, which were laid in Parliament on 19 July.

As mentioned in previous Technical Briefings, on 24 May, the Financial Reporting Council published its long anticipated consultation on the UK Corporate Governance Code, the intention of which is to focus on the legislative and governance reforms that the Government proposed in its May 2022 white paper “Restoring trust in audit and corporate governance”. These are designed, amongst other things, to “support the FRC’s transition into the Audit, Reporting and Governance Authority (ARGA).”

On 24 May, the Financial Reporting Council has published its long anticipated consultation on the UK Corporate Governance Code, the intention of which is to focus on the legislative and governance reforms that the Government proposed in its May 2022 white paper “Restoring trust in audit and corporate governance”.

Companies House published two stakeholder newsletters in December.

In order to support those responsible for ensuring their Board is reviewed professionally, the Institute has created a directory of accredited board performance reviewers. These providers have demonstrated an exemplary service in the undertaking of board performance reviews and are aligned to our Code of Practice.

Board Performance Reviews, also known as board evaluations, are an important tool to support boards. Board Performance Reviews are a critical tool for organisations to ensure continuous improvement in governance and board-level decision making. If performed effectively, they foster accountability, enhance decision making and help organisations align strategic objectives.