2024 UK Corporate Governance Code Revisions

Practical guide to implications from the 2024 UK Governance Code for your Board

The FRC has published its Revised UK Corporate Governance Code for 2024.

You can access a 2-page summary of The Code here.

Some of the key implications arising from the changes include:

• The practical implications of internal control and risk management changes for boards, audit committees, management and the “third line”.
• Why Audit Committees need to start planning now for changes due in within the next two years.
• Questions arising from the material control effectiveness declaration and description of ineffective cases.
• How to report on control effectiveness within the new specified timeline.

For a full summary of the likely impact, especially for Audit and Risk Committees read our summary response to the Code revisions.