UK: ICSA responds to FRC Combined Code recommendations

The Institute of Chartered Secretaries and Administrators has published its response to the final report and recommendations published by the Financial Reporting Council in respect of its review of the Combined Code: see here (pdf).

ICSA supports in general the draft Code and the approach taken by the FRC but expresses reservations concerning annual election for the board and/or chairman. In this regard, ICSA states in its submission: "our strongly preferred route is to maintain the status quo of triennial elections".