Institute weighs in on Combined Code.
| Position | First in ... |
Charles Tilley, CIMAs chief executive, has warned that not only large financial institutions but all big companies should stress-test their strategies. In a submission to the UK Financial Reporting Council's (FRC's) review of the Combined Code, he argued that it was vital that firms had a full understanding of their risks, and that their directors were fully aware of how these could affect their strategic vision.
Tilley added that the FRC should champion good corporate governance more actively and investigate major failings so as to enable key lessons to be learned.
"There is a clear need for the code to be...
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