Consultation on corporate governance principles for large private companies

Close date: 7 September 2018

The Financial Reporting Council consults on new corporate governance principles: The Wates corporate governance principles for large private companies.

The proposed principles are intended to align with the introduction of new reporting requirements, due to come into force from 1 January 2019, that require large companies to disclose in a statement as part of their director's report, and publish on their website, information on the corporate governance code or arrangements they applied in the relevant financial year.

There are six draft principles of corporate good practice, such as undertaking effective engagement, including with the workforce, and promoting executive remuneration structures aligned to sustainable long-term success of the company, taking into account pay and conditions elsewhere in the company.
Consultation document: The Wates corporate governance principles for large private companies