How does your Board of Directors cope with the 'Comply or Explain' principle ?


On 30 November 2015, GUBERNA, FEB and EY organized an expert working group around the 'comply or explain' principle.

In this working group, three concrete themes were discussed, namely:

  1. The application of the 'comply or explain' principle in general;
  2. The process that occurs in the Board of Directors regarding the establishment of the governance model and the Corporate Governance Statement;
  3. The European Commission's recommendation on the quality of corporate governance reporting ("comply or explain"), compared to the practical rules for high-quality explanations, developed by the Corporate Governance Committee.

This booklet brings together the main conclusions of the debate.