Accounting Multiple Choice Question – 23 May 2025

Little Staffie plc is a small listed company outside the FTSE 350.

Consequently, the company?

Select ONE answer:

1. Must comply with all the requirements of the UK Corporate Governance Code
2. Is governed by other corporate governance regulations than the UK Corporate Governance
3. Can be flexible in how it applies the UK Corporate Governance Code
4. Is not affected by the requirements of the UK Corporate Governance Code

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct == > The company can be flexible in how it applies the UK Corporate Governance Code. Non-FTSE 350 companies may depart even from the main principles in particular circumstances provided their non-compliance is explained (1). The company will be expected to adhere to the requirements of the Code by virtue of being listed (2) and (4).
4. Not correct

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