FTSE 350 companies are now required under the Governance Code to seek external evaluations on a regular cycle.
Listed companies outside the FTSE 350 are still strongly encouraged to undergo evaluations. In this very competitive environment, businesses’ boards need to be at peak performance.
The new Charity Governance Code recommends evaluations for larger charities and, in an era of increasing pressure on standards and efficacy, all charities can benefit from this.
This is a testing time for charities and they need to rise to that challenge.
Following the recent scandals, all charities are under pressure both to improve what they do and to be seen to do so. An independent evaluation enables a charity to address its internal structure and ensure it is conducting its board of trustees at the highest standard.
Public Service Industries (Housing Associations, Academy Trusts)
All bodies responsible for large amounts of public funds in a changing political climate can benefit from an external evaluation to ensure the highest standards of governance and performance are met.
It is sometimes difficult for larger private companies to be confident that they are best equipped and prepared for achieving their objectives.
An independent evaluation can help them ensure they are meeting their goals as well as building successful and resilient businesses.