the UK Corporate Governance Code has been updated by the Financial Reporting Council.
The watchdog said the new guidelines significantly enhanced the quality of information investors received about the long-term health and strategy of listed companies, and raised the bar for risk management.
It also confirmed proposals for boards to include a viability statement in their strategic reports to provide a broader assessment of future solvency and liquidity for a period “significantly longer” than 12 months.
FRC chief executive Stephen Haddrill said the code would continue to operate on a “comply or explain” basis.
