Clifford Chance

Revised Corporate Governance Code published

9 December 2016

On 8 December 2016, the corporate governance committee ("Committee") published the final version of a revision of the corporate governance code ("Code") which will apply to financial years starting on or after 1 January 2017. The Code is restructured around a number of themes as opposed to the current code of 2008 (the "2008 Code") which is based on a functional division of roles and responsibilities within a company. Focus areas of the Committee in the Code are long term value creation, the importance of culture and the strengthening of the internal audit function and audit committee.

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