Previous reviews and consultations

The FRC undertakes regular reviews of the impact and implementation of the Combined Code and its associated guidance to ensure that it continues to work effectively.

2007 Review of the Combined Code

Between April and July 2007 the FRC carried out a revieww of how the Combined Code was being implemented. The results of that review were published in December 2007. At the same time the FRC began consultation on a small number of possible amendments to the Code. This consultation closed in March 2008, and the subsequent amendments took effect in June 2008.

The FRC published the following documents relating to the review:

• A report on the main findings of the review 

  Report on the main findings of the Review (123kb)

• A summary of the main issues raised by respondents to the review. Individual responses can be found at: Responses to the 2007 Review of the Combined Code

 Summary of responses to Consultation (137kb)

• A consultation document setting out the proposed amendments to the Code

 Consultation document (97kb)

• A summary of the main comments received from respondents to that consultation. Individual responses can be found at: Responses to 2007 consultation on amendments to the Combined Code

 Summary of responses to December 2007 consultation (109kb)

• A Regulatory Impact Assessment considering the costs and benefits associated with the amendments to the Combined Code

 Regulatory Impact Assessment (65kb)

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

 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

 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)