Corporate governance is supervising the management of a company in order to uphold the company’s integrity, achieve more open and rigorous procedures and promote good relations with stakeholders. In the years since the UK Corporate Governance Code was created, corporate governance has evolved to reflect the changing nature of stakeholder priorities. Most recently, for example, concerns around corporate governance have centred around executive remuneration and gender representation on boards.
This factsheet explores the purpose of corporate governance, the regulations that reinforce it, and best practice as specified by the UK Corporate Governance Code. It also looks at the roles and responsibilities of the board members as well as the audit, remuneration and nomination committees.