Which body is primarily responsible for enforcing corporate governance standards?

The Financial Conduct Authority (FCA) is primarily responsible for enforcing corporate governance standards because it acts as a regulatory body overseeing financial markets and protecting investors. The FCA has a mandate to ensure that companies adhere to corporate governance principles that promote transparency, accountability, and ethical practices in their operations. This includes overseeing listed companies and ensuring they comply with various regulations that govern their conduct.

The Institute of Chartered Accountants, while playing a significant role in the development of accounting standards and practices, does not directly enforce corporate governance standards. Its focus is more on the education and regulation of accountants rather than corporate governance enforcement.

The Takeover Panel is responsible for regulating takeover bids in the UK, ensuring that the rules of fair treatment in such transactions are followed. However, its scope is limited to takeover situations rather than overall corporate governance.

Companies House is an official government register of companies, where companies must file their financial statements and other relevant documentation. While it plays a role in corporate transparency, it is not actively responsible for enforcing corporate governance standards; its primary function is administrative and record-keeping.

Thus, the Financial Conduct Authority stands out as the body with the authority and responsibility to enforce corporate governance standards effectively.