Good corporate governance is essential to the long-term sustainable success of your organisation. Good governance can be driver for increased turnover, efficiency and profitability and is fundamental to strong business performance. It is not just about what you do it is also about how you do it.
BDO Corporate Governance services
Our Risk Advisory Service is both global and integrated. Our local professionals have a good understanding of the governance challenges that your organisation may face both locally and across multiple jurisdictions and capital markets.
You can rely on us for expert, practical advice and support to design and implement corporate governance practices fit for your business and your challenges. Our services include;
- An independent assessment of your current governance practices
- Supporting you in defining and implementing a suitable governance framework
- Board and Committee performance evaluation
- Design of Board and Committee charters as well as delegation authorities and policies
- Review of the Board relative to the strategic direction
- Culture assessments
- Governance training
- Strategic governance advice to Boards and CEOs
Corporate Governance codes and regimes
The UK Corporate Governance Code (UKCGC) enshrines principles that have evolved since Sir Adrian Cadbury’s committee first made recommendations on the UK’s system of corporate governance. Governance requirements for listed companies continues to evolve and places a strong emphasis on the duties and responsibilities of non-executive directors, within the framework of a unitary board. This increases focus on wider aspects of governance such as risk management, remuneration strategies, reporting and internal audit.
Shareholders, regulators, financiers and other stakeholders also continue to demand and expect good quality and transparent corporate governance standards. The FRC monitors listed companies’ compliance while activist shareholder groups also highlight and publicise poor governance.
There are also other established codes including the Quoted Companies Alliance Code (QCA code) and the Wates Corporate Governance Principles designed for large private businesses. AIM-quoted companies are required to disclose which corporate governance code they use on their website. Many small and mid-size AIM-quoted companies may well select the QCA code or the Wates Principles as a more appropriate code due to their size and stage of development. In the charity sector, the Charity Governance Code sets out the principles and recommended practice for good governance.
Evolving Corporate Reporting Requirements
Your corporate reporting landscape continues to evolve with the introduction of new requirements such as the Prompt Payment Code and the Streamlined Energy and Carbon Reporting (SECR) . In addition, your stakeholders may be demanding more rigorous and independently verified reporting around the ESG (Environmental, Social and Governance) agenda.
You can rely us to help you understand and respond to these changing requirement and support you in ensuring you have a compliant and sustainable in the future. You can work closely with us and our Third Party Assurance team to provide increased confidence to your wider stakeholders.
Below is an example of how we can help you respond to new or emerging reporting requirements.
Streamlined energy and carbon reporting (SECR)
The Streamlined Energy and Carbon Reporting (SECR) framework requires qualifying UK companies and Limited Liability Partnerships (LLPs) to report on their energy usage and the energy efficiency action taken during the reporting period.
The SECR reporting requirements replace the CRC Energy Efficiency Scheme and are expected to impact around 12,000 businesses and apply to:
- Quoted companies
- Unquoted companies incorporated in the UK which the qualifying criteria
- Unregistered companies the qualifying criteria
- LLPs meeting the qualifying criteria.
The qualifying criteria is met if two of the three thresholds are exceeded:
- £36 million annual turnover
- £18 million balance sheet total
- 250 employees.
How can we help with Streamlined Energy and Carbon Reporting (SECR)
We can help you through the provision of a wide range of services including:
- Creating a framework and developing of your data model, processes and control environment to support reliable reporting.
- Providing independent assurance against reporting standards such as ISAE 3000
- Using data analytics to maximise the impact of carbon reduction plans and identify energy efficiency strategies
- Provide technical expertise on carbon reduction strategies, environmental benchmarking and improvement plans
- Benchmarking against peers and competitors