- Appropriate boardroom behaviours are an essential component of best practice corporate governance; and that the absence of guidance on appropriate boardroom behaviours represents a structural weakness in the current system.
- Had that guidance been available and, more importantly, observed, some of the consequences of the current crisis might have been less severe and that, in any case, prevention of a recurrence of the events of the last year is at least partly dependent upon guidance on appropriate boardroom behaviours being incorporated in the Code.
- Better articulation of the business case for best practice corporate governance, and more focus on directors’ responsibilities and potential liabilities, should incentivise directors to exhibit appropriate boardroom behaviours.
Monday 8 June 2009
UK: Boardroom Behaviours report published by ICSA
The Institute of Chartered Secretaries and Administrators has published "Boardroom Behaviours: a report prepared for Sir David Walker" (and also submitted to the FRC review of the Combined Code). The report concludes (to quote directly from it) that:
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