Wates Group shares best practice principles for large private companies
Sir James Wates, chairman of the Wates Group, has today issued an article for the Financial Reporting Council (FRC) which provides some insight into reporting against the Wates Principles for large private companies.
The article names a number of companies that have embraced the spirit of the Principles and reported in many ways that offer an insight into the governance of each company.
The FRC said: “Although not all reports have been assessed, some companies are demonstrating a broad spectrum of approaches. It was particularly encouraging to see that many companies are producing reports that are both accessible and comprehensive.
“During 2021, the FRC will be overseeing a body of research with the intention of providing a more complete evidence base and promoting good practice reporting. It is hoped that companies are inspired by some of the good practice seen so far with many more applying the Wates Principles this year.”