by Dina Medland for Forbes
When company culture and behaviour rise to the top of the agenda for scrutiny by the watchdogs of corporate governance is it time for a celebration? One could be forgiven for thinking we might be getting somewhere in the struggle to align regulation with ‘best practice’ for business, rather than mere ‘box-ticking’ for compliance.
In the UK, the annual review of developments in corporate governance and stewardship for 2014 by the Financial Reporting Council (FRC), is just out. It has a strong focus on the importance of good culture within organisations.
“The governance of individual companies depends crucially on the culture that is in place. The UK’s strong governance culture encourages companies to list in London and provides assurance to investors. Unfortunately, we still see examples of governance failings in this area. Boards have responsibility for shaping the culture, both within the boardroom and across the organisation as a whole. This requires constant vigilance” says Sir Win Bischoff, FRC Chairman. Read more here.