UK: FRC report - corporate culture and the role of boards

The Financial Reporting Council has today published a report titled Corporate culture and the role of boards: see here (pdf). The report contains the FRC's observations on the importance of culture, following discussions with company chairmen, chief executives, professional organisations and other stakeholders. It is designed to assist boards and to share best practice; several key observations are made: recognise the value of culture; demonstrate leadership; be open and accountable; embed and integrate; assess, measure and engage; align values and incentives; and exercise stewardship.