Invitation: Launch of the Wates Principles for large private companies
12 Dec 2018 3:15pm to 6:00pm
It gives me great pleasure to invite you to the launch of the Wates Corporate Governance Principles for Large Private Companies.
The event will be the culmination of an intense year in the development of the principles by a Coalition Group which features representatives from industry bodies and civil society, with secretariat support provided by the Financial Reporting Council. During the summer, we carried out an extensive consultation process that included the release of a consultation paper with draft principles and guidance.
I feel passionately that good business, well done, is a force for good in society, and the new corporate governance principles ultimately will help companies with the tools they need to improve the way they do business.
Adding urgency to our effort, the government introduced legislation in June requiring all large private companies to include a statement in their annual reports on whether the company follows a code of corporate governance. This will come into effect for companies’ reporting period starting on or after 1 January 2019. The Wates Corporate Governance Principles have been designed to give the diverse range of companies to whom this legislation applies a flexible yet challenging code which can aide their compliance with the new law.
Joining me at the event will be members of the Coalition Group, and we hope to hear from a government minister. Short remarks from me will be followed by a panel discussion and Q&A session featuring a wide range of businesses and stakeholders who have been closely involved in the effort.
I would be grateful if you could join me and the Coalition Group in celebrating the launch of these principles.
James Wates CBE