The FRC (Financial Reporting Council) Review of Corporate Governance Reporting published in November 2021, continues to document the slow glacial creep towards better corporate governance reporting.

We have as Boards, a period of grace to ‘get our act together’ and improve the consistency and general standards of Board Reporting on governance matters in the Report and Accounts. Or it could it be taken out of our hands by the newly created Audit, Reporting and Governance Authority (ARGA).

The Report highlighted the lack of illumination of the Boards reporting on governance matters, with a patchwork of minimal, lawyer driven ‘what’s the least we have to say for this compliance point’. This contrasts against the FRC’s desire to see a coherent, integrated and strategic approach to governance development reporting.