the wates principles report
The Wates Principles report seeks to improve corporate governance standards among private companies
CORPORATE GOVERNANCE
10 December 2018: A new code for the corporate governance of large private companies has been launched, providing a framework to help them not only meet legal requirements but to promote long term success in this vital sector.
Recognising this, the Wates Principles report seeks to encourage these companies to adopt a set of key behaviours to secure trust and confidence among stakeholders and benefit the economy and society in general.
These Principles are part of a number of changes made this year to the UK corporate governance framework. They have been developed by a coalition established by the Financial Reporting Council (FRC) and chaired by James Wates CBE. By explaining the application of these Principles large private companies will be able to meet their obligations under The Companies (Miscellaneous Reporting) Regulations 2018.
The Wates Corporate Governance principles for large private companies
The Wates Principles report seeks to improve corporate governance standards among private companies.
I believe that good business, well done, is a force for good in society.
While not always recognised for it, business creates the jobs, economic growth, and tax revenue that society so desperately needs.
Although most business leaders have an intuitive moral compass that guides them towards delivering this value, these Principles provide them with a framework for ensuring that their companies are well managed and aligned behind a clear purpose.
Sir James Wates, CBE
Chairman, Wates
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