The Foundation Trust Code of Governance: What’s new? - January 2014
Published 16 January 2014
Monitor has published a revised Code of Governance to reflect the 2012 Act and changes in corporate governance generally (the Code). Here we discuss some key main points to note and highlight some of the changes.
Implementation timetable and reporting requirements
The Code applies from 1 January 2014. Monitor therefore expects Foundation Trusts to report compliance (or otherwise) in the Annual Report for 2013/14 against the new Code, though it recognises that Foundation Trusts might not be compliant with provisions which were not in the 2010 version of the Code and cannot be applied retrospectively. In those cases, Foundation Trusts should state their non-compliance and explain their plans to work towards it or to put into place alternative arrangements, with a timetable for doing so in either case.
How can we help?
DAC Beachcroft's Governance Advisory Practice is a team of specialists with specific professional expertise in governance and regulatory compliance. The team would be pleased to provide training or advice in relation to the Code or any other aspect of Foundation Trust law, regulation and governance. The Practice is fully integrated with the firm and regularly works with lawyers to provide pragmatic support for Foundation Trust directors and governors to understand legal, regulatory and governance requirements, and to develop approaches for their working together to discharge their responsibilities.