Culture in companies Research Project

Concepts

• research and development
• frc
• companies research project
• corporate culture
• company reports
• company's culture
• culture
• culture change
• culture assessment
• companies' internal discussions

Location

Description

The Financial Reporting Council sets the UK Corporate Governance and UK Stewardship Codes; sets UK standards for accounting and actuarial work; monitors and takes action to promote the quality of corporate reporting; and operates independent enforcement arrangements for accountants and actuaries. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality. The FRC works in the public interest. Our work is aimed at investors and others who rely on company reports, audit and high-quality risk management. Background: In 2016 the FRC published a report titled Corporate Culture and the Role of Boards (hereafter the '2016 Report') which sought to address how boards can influence and shape their company's culture, build trust with various stakeholders and deliver sustainable success through culture assessment, measuring and monitoring. In 2018 the FRC published the new UK Corporate Governance Code which places a greater emphasis on culture, encouraging companies to develop cultures that promote integrity and openness, that value diversity and are responsive to the views of stakeholders. Purpose and Scope: Research conducted by the FRC for its 2020 Annual Review of Corporate Governance indicated that only about a half of companies provided meaningful commentary on their culture in their most recent annual reports, while many companies made no mention at all of monitoring or assessing their culture. In light of these findings, the purpose of this research project is answer three questions: 1. What externally sourced information, guidance and tools/concepts are boards using to frame and support their companies' internal discussions on culture? 2. How have companies' internal practical approaches to measuring corporate culture, embedding (implementing) culture change, and reviewing the impact of that change evolved in the five years since the FRC's 2016 report? 3. What obstacles do companies encounter in promoting the desired corporate culture and how have they been (or how can they be) addressed? ** This is a summary only, please see the PDF download below for full details **

CPV Codes

• 73000000 - Research and development services and related consultancy services

Indicators

• Contract is suitable for SMEs.
• Contract is suitable for VCOs.

Other Information

Notes:- • Download and review the documents; • Observe the timelines and tender process • Register your interest in this opportunity by email to procurement@frc.org.uk • You will need to register your interest in this opportunity to receive the Q&A responses. 01 ITT Culture in companies.pdf 02 Tender Response Document Final.docx