The UK Financial Reporting Council (FRC) has identified in its latest annual review several areas in which companies are falling short in reporting against the UK Corporate Governance Code.
"Many of the trends observed last year remain," the report said. "There were instances of unexplained departures, with the focus of reporting being solely on the company's timeline for compliance, as well as instances of boilerplate reporting lacking the detail required to effectively convince the reader that the departure from the