The Contents of a Corporate Governance Report

The contents of a corporate governance report typically include the following:

• Compliance with Laws and Regulations: A statement ensuring the company adheres to relevant legal and regulatory requirements.
• Board Composition: Details about the structure of the board, including the number and type of directors (e.g., executive, non-executive, independent).
• Role of the Board: The responsibilities and functions of the board in overseeing the company’s management and operations.
• Directors’ Interest in Contracts: Disclosure of any personal or financial interests directors have in contracts involving the company.
• Board Meetings: Information on the frequency, attendance, and key discussions in board meetings.
• Board Changes: Any changes in the board’s composition during the year, including appointments, resignations, or removals.
• Committees of the Board: An overview of the various committees formed by the board (e.g., audit, remuneration, risk).
• Roles and Responsibilities of the Board Committees: A detailed description of the roles of each committee and how they have discharged their duties.
• Control Environment: An explanation of the company’s internal controls, risk management processes, and how these are implemented across the organization.
• Induction and Training: Information on how new directors are inducted and the ongoing training provided to enhance their performance.
• Performance Evaluation Process: How the performance of the board and individual directors is evaluated.
• Code of Business Conduct and Code of Governance for Directors: The ethical standards and governance policies directors are expected to follow.
• Human Resource Policies: Information on HR policies, the company’s internal management structure, employee relations, employee share ownership schemes, and other workplace development initiatives.
• Statement of Company’s Risk Management Policies and Practices: The company’s approach to identifying, assessing, and managing risks.
• Dealings in Securities Code: The company’s policy on directors and employees’ dealings in company securities, ensuring they comply with relevant regulations.