Enhancing Managerial Accountability: An Analysis of the UK Corporate Governance Code (2018)

This article examines the impact of the UK Corporate Governance Code (2018) on managerial accountability, focusing on its provisions for transparency and the "comply or explain" principle. It evaluates the Code's strengths, including fostering stakeholder trust and encouraging ethical governance, while addressing key criticisms such as rising compliance costs and the limitations of its voluntary framework. The discussion highlights the evolving role of corporate governance in the context of global economic changes and increasing environmental, social, and governance (ESG) expectations. The article concludes that while the Code has significantly advanced managerial accountability, its future success depends on its adaptability to emerging challenges and its ability to strike a balance between flexibility and enforceability.