Tuesday 15 November 2016

UK: Grant Thornton's annual review of corporate governance

Grant Thornton has published the latest edition of its annual review of FTSE350 corporate governance, drawing upon the information provided in annual reports: see here (pdf). The review considered 308 FTSE350 companies (at May 2016) with year ends between June 2015 and June 2016. All FTSE100 companies were included in the review together with 208 from the FTSE250.

Headline figures include 62% of companies claiming to comply fully with the UK Corporate Governance Code (director independence remains the main area of non-compliance). The quality of reporting remains variable. For example, 48% of companies do not express their values; 35% of companies provide only passing references to culture in their annual reports; and, more than half of the companies required to provide a viability statement gave only generic or basic insights into how viability was assessed, with only 5% providing detailed disclosure.

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