Are you ready for the UK Corporate Governance Code? | Part #2 

In our first UK Corporate Governance Code blog | Part #1 we discussed which companies the code applies to, and what companies should do to prepare for the changes [https://www.searchlightconsulting.co.uk/2025/03/05/are-you-ready-for-the-uk-corporate-governance-code-part-1/].   

In Part #2 We explore how you can leverage the benefits of having a compliance programme, viewing it as an opportunity rather than a mere checkbox task, while also highlighting common pitfalls that could hinder successful implementation. 

Companies should begin preparations for the UK Corporate Governance Code readiness promptly to ensure compliance and sustain investor confidence and trust. Managing UK Corporate Governance Code preparations under the framework of a change programme is recommended as this is a one-time, substantial change for the organisation which should be accomplished within the required timeframe. 

As a general guide, no organisational change initiatives exist in isolation. At Searchlight Consulting we recommend taking the bigger picture into account and aiming to leverage benefits of having a compliance triggered change programme: 

• Ensure strategic alignment: Integrate compliance into the broader business / IT strategy and link compliance requirements to business goals and performance. 

• Drive business value / benefits from the change: Consider how to make most value from the compliance programme by de-risking your business and improving key processes.   

Ensure that controls do not impede growth or operations. Selecting the right solutions to reach adequate level of compliance would be key to avoid introducing inefficient processes / unnecessary additional complexity. 

Consider investing in automation tools based on cost-benefit analysis to streamline compliance efforts, reduce manual errors, and enhance transparency in financial / non-financial reporting. 

• Promote a culture of compliance: Ensure leadership buy-in to drive compliance efforts from the top down, demonstrating accountability and commitment.  

Promote awareness of compliance requirements across all levels of the organization through training and communication / effective change management. 

Avoid common pitfalls and consider addressing the upcoming compliance programme planning / implementation challenges in a structured and transparent way: 

• Look at your ongoing / planned business initiatives, dependencies: any M&A or divestment activity planned, any ongoing or planned business process project which might be impacted by additional compliance requirements?  

• Have you considered people change impacts and capacity early on, are resource requirements planned, resources identified and secured for the compliance project? 

• As with any programme implementation typical risks apply (e.g., not meeting scope / timeline / budget). Do you have the right expertise and talent in the team to manage / accomplish the programme? 

• Do you have the right framework to avoid unnecessary complexity, refrain from making heavy investments in technical solutions for addressing issues that could be remediated with simpler, more cost-effective approaches?  

• Do you run the risk of disengaging colleagues from the change by making them feel this is just another set of burdensome tasks added to their workload with no real benefit? 

• Is your team already considering how to embed risk management into the organisation, e.g. processes established to keep controls up to date with new risks? 

Top tips when you plan and implement your compliance programme: 

• Consider the organisation level portfolio of change / planned initiative pipeline and apply prioritisation to ensure the organisation is not overloaded with change. 

• Ensure programme sponsorship is set up at the right level within the organisation. 

• Resource the programme well, if needed add external expertise to the team with the winning skills and expertise. 

• Establish programme governance, plan with milestones, deadlines, resource plan and well managed RAID (Risks, Assumptions, Issues, and Dependencies), regularly track progress to ensure that goals and timelines are being met. 

• Establish programme design authority processes with both business and technology stakeholders, ensure right-fit solutions are chosen and implemented for your organisation. 

• Apply proper change management, ensure colleagues at all impacted levels understand the Governance, Risk & Compliance (GRC) requirements, resistance to change may hinder the adoption of new processes and controls and reaching envisaged business benefits from the change. 

• Create a roadmap for phased implementation of controls, ensuring adequate time for testing and embedding them effectively into operations. 

Are you in the phase of planning a programme of work to improve UK Corporate Governance Code compliance, or are you already underway with your organisations readiness to be compliant with the UK Corporate Governance Code? 

Contact Searchlight Consulting if you plan to start a programme and would require guidance, additional expertise to ensure your compliance programme, and associated change is well managed and delivers the envisaged value for the organisation.   

Also, please contact if you require an external professional view on your already running programme, Searchlight Consulting provides support re successful compliance programme implementation, ensuring delivery of the correct outcomes to add value to your business.  Follow our blog to stay updated! 

Contact us today to learn more about how Searchlight Consulting can help with successfully preparing for UK Corporate Governance Code, to receive more information about our services. 

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