Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government what is the framework for the regulation of corporate advisory firms undertaking board performance evaluations; and what assesment they have made of the effectiveness of that regulation.

The Financial Reporting Council’s (FRC) Corporate Governance Code sets out that company directors must ensure that an evaluation of the effectiveness of the board is carried out at least every 3 years, which in turn is reported to the shareholders of the companies.

The FRC’s recent consultation on the UK Corporate Governance Code included proposals to improve reporting and practice in this area. These included strengthened principles and provisions about board effectiveness and individual director responsibilities. The FRC expect to publish a revised Corporate Governance Code in July 2018.