Originally published on 4 Feb 2014 by Hr NETWORK News
Advanced Boardroom Excellence, leading advisers in developing individual and collective director effectiveness, has recently launched a Code of Practice for Independent External Board Evaluations (the “Code”). The Code sets out guidelines for achieving a high-quality board evaluation with reference to the Financial Reporting Council’s Guidance on Board Effectiveness.
Board evaluations, as set out in the UK Corporate Governance Code, are one of the principal methods for building board effectiveness. The Code has been proposed to address the perceived variability in the scope and service quality of evaluations, and concerns about standards. If adopted, the Code would install a more coherent framework to allow companies and advisers to work more effectively together.