The Quoted Companies Alliance represents small to mid-size quoted companies, including companies with a standard listing on the Main Market of the London Stock Exchange and AIM companies. The QCA Code is endorsed by the Financial Reporting Council and is the industry standard for the smaller officially listed companies and AIM companies.
The QCA Code is constructed around 12 broad principles and a set of minimum disclosures. These disclosures must be seen to be addressed in order that a company is able to say that it has adopted and complied with the QCA Code. It is not intended that the QCA Code be one-size-fits-all, but rather it is implemented on a ‘comply or explain’ basis (like the UK Corporate Governance Code).
The 12 principles remain largely unchanged. However, they have been reordered to attach greater importance to the delivery of growth in long-term shareholder value. There is also an enhanced focus on the importance of companies delivering good-quality explanations and on the importance of the role of the chairman in ensuring good governance…
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