Codes of Governance
While there is no legal requirement for a college to adopt a code of governance, the ESFA's Accounts Direction requires each governing body to publish a Statement of Corporate Governance and Internal Control as part of its annual report and accounts. This must set out to refer to the principles by which the college is governed.
As autonomous corporate bodies it is up to each Sixth Form College Governing Body to independently decide which of these codes to either adopt or have due regard to. The applicable codes include:
Code of Good Governance for English Colleges
The Association of Colleges has produced a voluntary Code of Good Governance for English Colleges with accompanying cover letter. The code has been developed to support governance practice within colleges.
SFCA recognises that some Sixth Form Colleges may not be able to sign up to this code, as they have different Instrument & Articles from the statutory model, and in many instances from each other, which reflects the role of their Founders and Providers, and the documents and Trusts upon which they were founded.
UK Corporate Governance Code
The UK Corporate Governance Code (formerly the Combined Code) also sets out standards of good practice in relation to board leadership and effectiveness, remuneration, accountability and relations with shareholders for institutions including Sixth Form Colleges.
In March 2018 it was announced that the New Charity Governance Code will be added to the options available in the Accounts Direction for Sixth Form Colleges. We await further information.