Independent Board Review
During 2010, following the reversal in world markets, a number of reviews were held by UK regulatory bodies into the subject of corporate governance and specifically the area of Board competence and capability.
As a result, all FTSE 200 companies now include general, and occasionally detailed, information on how they address the subject of corporate governance. Most annual reports now also have some data on how they review the composition and activity of their Board.
In June 2010, the Financial Reporting Council recommended under its Corporate Governance Code that larger listed companies should have externally facilitated board evaluations at least every three years. The delivery of Independent Board Reviews is a key service provided by Abbeywell Associates which addresses this recommendation.
The main issues identified by the FRC which board assessments must examine are how well the board is functioning as a unit and the contribution of individual directors, committees and committee chairs.
Using a well proven methodology, Abbeywell Associates Limited reviews the Board and its committees and the experience and capabilities of Board members, producing an independent report for the Chairman in accordance with FRC guidelines. Reviews are custom made for each company's unique circumstances and reflect the business culture in which it operates.
These Board reviews are timed to fit in with the client company's reporting cycle, usually for the production of the company's Annual Report and the AGM.
International Reach
As a major feature of its capability, Abbeywell works with an international network of associate companies to deliver projects for clients who have multinational operations. Associates in Washington, Zurich, Paris and Berlin can deliver to the agreed format and structure and to the same high standards as the lead UK consultancy.
Abbeywell also maintains strong links with groups in India, Africa and the Pacific rim who can be called upon to participate when required.
