Our Corporate Governance and Financial Reporting Expert Groups contributed to our response to the FRC's consultation on its Draft Plan & Budget and Levy Proposals 2016/17. We generally supported the key priorities announced, particularly regarding the focus given to promoting
corporate culture and effective engagement between boards and investors.
We encouraged the FRC to continue promoting the Quoted Companies Alliance Corporate Governance Code for Small and Mid-Size Quoted Companies (the QCA Code), in conjunction with the UK Code, highlighting that it has become a valuable reference for smaller companies wishing to follow outcome-orientated, good governance examples.
We noted the need for the FRC to work with small and mid-size quoted companies to identify and provide solutions for improving the quality of reporting and welcomed the FRC's commitment to supporting the Financial Reporting Lab's work in promoting clear and concise reporting.
We provided detailed comments to the questions most likely to affect our members, small and mid-size quoted companies.