Advanced Higher Accounting Practice Questions - Advanced Higher Accounting (Qualifications Scotland SCQF Level 7) Exam

What is a key requirement of the UK Corporate Governance Code regarding board composition?

At least half the board of directors (excluding the chair) should be independent non-executive directors. All directors on the board must be executive directors with full-time operational management roles. The roles of Board Chairman and Chief Executive Officer (CEO) should always be held by the same person. The board must be composed entirely of representatives elected by trade unions.

Correct Answer:

At least half the board of directors (excluding the chair) should be independent non-executive directors.

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