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Internal Control. Guidance for Directors on the Combined Code, 1999



This guidance is intended to: (1) reflect sound business practice whereby internal control is embedded in the business processes by which a company pursues its objectives; (2) remain relevant over time in the continually evolving business environment; and (3) enable each company to apply it in a manner which takes account of its particular circumstances. The guidance requires directors to exercise judgement in reviewing how the company has implemented the requirements of the Code relating to internal control and reporting to shareholders thereon. The guidance is based on the adoption by a company’s board of a risk-based approach to establishing a sound system of internal control and reviewing its effectiveness. This should be incorporated by the company within its normal management and governance processes. It should not be treated as a separate exercise undertaken to meet regulatory requirements.


United Kingdom





Issuer (type)

Institute of Chartered Accountants in England and Wales (ICAEW) (Industry)

Instrument type


Disclosure instrument


Geographical scope


Mandatory or voluntary


Text analysis

    • Low 0.42%
    • Low 0.00%
    • E focus: environment
    • S focus: diversity
    • G focus: audit, corporate finance, financial reporting, internal control, risk management, accountability
    • Finance, Management, Professional services