Only four in 10 of FTSE 350 governance compliant

The latest Grant
review of FTSE 350 companies’ compliance with the UK combined code
of corporate governance reveals only 10
companies claim full compliance. While 125 companies claimed full
compliance, only 11 had fulfilled the disclosure requirements of the code.

However, the number of companies aspiring fully to comply increased from 34%
in 2006 to 41% last year, The Financial Review reports.

“Companies are aspiring to be compliant but they need to be more diligent in
their responses in regard to attempts for compliance,” said Simon Lowe, head of
business risk services practice at Grant Thornton, which carried out the review.

Disclosure on corporate responsibility reporting gained importance, rising
from 8% in 2006 to 42%, referring to external validation such as a benchmark or
index last year. Grant Thornton attributed this to the growing investor pressure
and wider stakeholder interest.

story in The Financial Review

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