United Kingdom: Audit

On 18 June 2025, Matthew Garbutt and Avary Patutama of our Litigation & Dispute Resolution team delivered...

The UK Corporate Governance Code 2024 introduces significant changes, applicable from January 2025, with a focus on enhancing transparency, risk management, and internal controls. Key updates include the requirement for boards to declare the effectiveness of 'material controls,' new responsibilities for audit committees, and stricter malus and clawback provisions. Non-compliance could damage reputation, attract regulatory scrutiny, and erode investor confidence.

Following a lengthy consultation period, the Financial Reporting Council (the "FRC") recently unveiled its revised UK Corporate Governance Code (the "Code").