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More transparency needed
03 April 2019
The UK Stewardship Code needs greater transparency on investment decisions, especially if they impact long-term corporate performance, says the Association of International Certified Professional Accountants.
There also remains a concern about the lack of emphasis in the draft proposals on the necessary links between the Code and business investment decision-making processes.
That said, the Association felt that the greater emphasis on organisational purpose values and culture, and the inclusion of ESG issues are steps in the right direction.
The Association’s Andrew Harding said: “When the Stewardship Code was first published in 2010 it was a pioneering step in shaping the future of the UK’s overall corporate governance framework, and we recognise the positive impact it has had to date.”
He went on: “We would like to see more focus on the area of investment decisions. Recent corporate scandals have highlighted the need for greater transparency and accountability in this area.”
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