UK: FTSE350 companies' compliance with the Combined Code

Earlier this year, Grant Thornton published research exploring FTSE350 companies' compliance with the UK's Combined Code on Corporate Governance. The research revealed (to quote directly from the relevant press release):

(a) 66% of FTSE 350 companies still do not claim to be in full compliance with the provisions of the Combined Code.

(b) The most common areas where companies chose to depart from the Code's provisions were the terms and conditions of the appointment of non-executives, aspects of internal controls and audit committee independence and financial experience.

(c) 80% of businesses had attempted a Business Review in accordance with the new Companies Act, although the majority would not have been required to do so.

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