Following the recent adoption of the new Corporate Governance reporting regulations extending sustainable and responsible governance practices to U.K. private limited companies, those businesses will need to quickly assess their corporate governance framework and reporting to be compliant from 1 January 2019.
While there is a lot of publicly available guidance on corporate reporting, it is important to remember that this will not be a tick box exercise. During the period of transition, private companies will be expected to invest time up front to ensure their governance and corporate reporting meets the new requirements.
Whilst some may view this as additional administration taking them away from “more important” business as usual activities, smart businesses already recognise the benefits of good corporate governance and have been using it to future proof their business.
