Private and publicly listed companies should face the same level of scrutiny, according to MPs demanding sweeping reforms to corporate governance following the collapse of BHS.
The work and pensions committee said the Government could prevent another corporate crisis similar to the downfall of the stricken retail chain if it made private companies abide by the Financial Reporting Council’s (FRC) corporate governance code.
It says large private companies – or those with more than 5,000 defined benefit pension scheme members – should be governed by the FRC code, which sets standards on board le…
Read the full article at: http://www.belfasttelegraph.co.uk/business/news/mps-demand-clampdown-on-private-companies-to-prevent-another-bhs-35443802.html
