Home > Trends in Corporate Governance > Who should be covered by Corporate Governance Codes?, by Icaew

Who should be covered by Corporate Governance Codes?, by Icaew

The Institute of Chartered Accountants in England and Wales recently published a brief commentary on “who should be covered by Corporate Governance Codes”, (1).

They suggest a Framework Code should be drafted that covers all groups concerned with Corporate Governance.

Of course directors are affected by Corporate Governance principles and other legal obligations. But there is a growing number of codes and guidelines being published by other groups, such as auditors, institutional investors, executive firms, pay consultants, and the like.

Icaew suggest that all these specific codes risk to lose a global governance perspective, as they are usually published to address a particular concern in a particular moment. Thus, a global principle-based code could help assure the shared beliefs and best practices are known and considered in these other specific group codes; as a result, conflicts between them could be more easily avoided.

It seems a good idea, although there are already a number of such principle-based codes, published by different organizations, (such as the Oecd), and the task of preparing a unique list of principles could appear to be insurmountable!


(1) See comment here, http://www.corporatelawandgovernance.blogspot.com.es/,

and original paper by Icaew here, http://www.icaew.com/~/media/Files/Technical/Corporate-governance/dialogue-in-corporate-governance/who-should-be-covered-by-codes.pdf.



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