2005 Review of the Combined Code
Between July and October 2005 the FRC carried out a review of the how the Combined Code was being implemented. The results of that review were published in January 2006. At the same time the FRC began consultation on a small number of possible amendments to the Code. This consultation closed in April 2006. A revised version of the Combined Code was issued in June 2006 and can be found at www.frc.org.uk/corporate/combinedcode.cfm
The FRC has published the following documents relating to the review:
- A report on the main findings of the review
Combined Code review main findings 18 January 2006 (64kb)
- A summary of the main issues raised by respondents to the review. The summary also lists the respondents, and copies of individual responses are available on request from codereview@frc.org.uk
Combined Code review summary of responses 18 January 2006 (50kb)
- A consultation document setting out the proposed amendments to the Code
Combined Code review consultation document 18 January 2006 (201kb)
- A summary of the main comments received from respondents to that consultation The summary also lists the respondents, and copies of individual responses are available on request from codereview@frc.org.uk
Combined Code amendments summary of responses June 2006 (229kb)
- A Regulatory Impact Assessment considering the costs and benefits associated with the amendments to the Combined Code
Combined Code amendments RIA June 2006 (176kb)
2004 Review of the Turnbull guidance
In July 2004 the FRC set up a group chaired by Douglas Flint (Group Finance Director, HSBC Holdings plc) to review the Turnbull guidance. Following this review the FRC published updated guidance in October 2005. The updated guidance can be found at www.frc.org.uk/corporate/internalcontrol.cfm
In addition to the revised guidance, the Review Group published the following documents:
- A consultation document setting out the findings of the evidence-gathering exercise and including draft revised guidance.
Consultation on draft revised Turnbull Guidance June 2005 (223kb)
- A paper setting out in more detail the evidence gathered by the Review Group
Turnbull review evidence paper June 2005 (257kb)
- A list of all respondents to the initial consultation exercise. Copies of individual responses are available by e-mailing turnbullguidance@frc.org.uk
List of respondents to initial consultation June 2005 (24kb)
- A summary of the main comments received on the draft revised guidance
Comments received on draft revised guidance October 2005 (15kb)
- A list of all respondents to the consultation on the draft revised guidance. Copies of individual responses are available by e-mailing turnbullguidance@frc.org.uk
List of respondents to second consultation October 2005 (1kb)
- A Regulatory Impact Assessment of the changes to the guidance
Turnbull review RIA October 2005 (112kb)
