Tuesday, 23 October 2012
Grant Thornton has published the findings of research looking at governance related disclosures in the chairman's statement within 242 annual reports: see here (pdf). The research found, amongst other things, that a quarter of the reports did not include any comment by the chairman on governance. The preface to the UK Corporate Governance Code 2010, in paragraph 7, states: "Chairmen are encouraged to report personally in their annual statements how the principles relating to the role and effectiveness of the board (in Sections A and B of the new Code) have been applied". Grant Thornton's research forms part of its FTSE 350 Corporate Governance Review 2012 which will be published in December 2012.