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On the board agenda 2020
As 2019 draws to a close, our annual review of board topics will stimulate your thinking and help prepare you for the year ahead. After pieces on the economic outlook, the Nine Big Shifts and the “Social Enterprise”, we pull together, in one place, a series of articles reviewing many topics on the board agenda across four key themes – responsible business, risk & internal controls, remuneration and year-end reporting & assurance.
Our annual review is, once again, a full read as there is much to consider.
On the board agenda – half year 2019
This half year update is a timely summary of the areas for board focus in 2019 as we enter the second half of the year. There is much that is new to address:
- The 2018 UK Corporate Governance Code applies for the first time this calendar year, with its focus on company purpose, values and culture
- Many companies are seeing change in board composition this year as the new rules around longevity of Chair appointments take effect
- The evidencing of board decisions against the wider context of the directors’ duty set out in section 172, and reporting against this in the annual report
- The UK’s desire to lead on climate change policies will enhance the focus on the climate change impacts of business models and will stimulate calls for additional reporting from companies – indeed the European Commission will shortly clarify that they consider that the existing requirements under the EU non-financial reporting directive (now in its third year) covers the recommendations of the TCFD – so companies need to ensure they are prepared for the sharper focus on climate reporting this year
- And of course the UK is still grappling with its relationship with the EU, leading to uncertainty for businesses, meaning that scenario modelling for those companies affected remains essential to test resilience
As you plan your board and audit committee agendas for the remainder of 2019, we hope you find this publication useful.