Read IoD Ireland’s formal submission to the FRC Corporate Governance Code Consultation. This consultation is now available exclusively for IoD Ireland members.
We are responding to this consultation as the representative body for directors in Ireland. Many of our members sit on boards of listed companies in Ireland and the UK. In Ireland, Euronext Dublin (formerly the Irish Stock Exchange) recognises that the Code has set the standard for corporate governance internationally. It is regarded as being the pre-eminent corporate governance code and is widely emulated. Since the 1995 Irish Stock Exchange Act, the Listing Rules of Euronext Dublin have required every company Listed on Euronext Dublin to state in its annual report how the principles of the Code have been applied and whether the company has complied with all relevant Code provisions. Where a company has not complied with all relevant provisions of the Code it is required to set out the nature, extent, and reasons for deviation. Many of our members sit on boards of unlisted companies which look to the Code to emulate best practice corporate governance within their context. As such, the evolution of the Code is significant for our members and their companies, and we are pleased to make a submission on the FRC’s consultation through this lens. Our responses to the specific questions raised within the consultation are included in the Appendix attached.