AICPA & CIMA, together as the Association of International Certified Professional Accountants, responded to the UK Financial Reporting Council (FRC), which sought comments on proposed changes to the UK Corporate Governance Code (the Code).
AICPA & CIMA's response had nine focus areas.
Comply or explain: The Code, according to the AICPA & CIMA response, offers flexibility as well as a "tried and tested mechanism" for the introduction of new requirements for in-scope companies. However, the response said, "there is