The Institute of Chartered Secretaries and Administrators has published its submission to the review of the Combined Code on Corporate Governance being conducted by the Financial Reporting Council. ICSA continues to support the current 'comply or explain' approach and the unitary board model. Changes to the Code are, however, recommended with regard to the time commitment of directors, the role of the company secretary and the manner in which risk is dealt with at board level. ICSA also recommends that the Code should contain a reference to the duties of directors (now) contained in the Companies Act (2006).
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