UK: ICSA's board performance evaluation report

The Institute of Chartered Secretaries and Administrators has published a report in which it reviews the manner in which the top 200 listed companies (at the end of 2009) undertook and reported their annual evaluation of the performance of the board, the audit, nomination and remuneration committees and the individual members of the board in line with Principle A6 of the Combined Code: see here (pdf).

According to the report, 16% of companies undertook some form of external board evaluation process. The Financial Reporting Council, in its 2009 report on the Combined Code, stated (para. 3.41):

... the potential benefits resulting from the greater objectivity that an external facilitator can bring to the evaluation process are such that a provision should be added to the Code recommending external facilitation of the board review at least every three years. Those companies that consider this to be unnecessary or undesirable will, of course, continue to be able to choose to explain rather than comply. Those companies that choose to comply will be free to decide what form of external involvement would be most beneficial to them".