FRC defends corporate governance missives
Chief Stephen Haddrill defends code in a letter to the Financial Times
THE CHIEF EXECUTIVE of the Financial Reporting Council has defended the body’s approach to corporate governance leadership.
Writing to the Financial Times, Stephen Haddrill (pictured) said that the body “promotes high standards” and took issue with the suggestion that the accountancy profession has “captured” corporate governance.
Listed companies are required to follow the FRC’s code but non-listed businesses in some sectors also adhere to it, including building societies and mutuals.
Haddrill said that the forthcoming review of the regulator’s structure and powers could lead to a narrower focus but insisted: “We are clear in our view that fostering investment and economic growth should remain the core of our mission.”