The combined code is a code of conduct containing best corporate governance practice, which is appended to the UK Listing Rules.

The Combined Code on Corporate Governance, issued by the Financial Reporting Council in July 2003.

The Financial Reporting Council (FRC) published the new Combined Code on Corporate Governance in July 2003. The code establishes best practice with regard to: responsibilities of the Board; Remuneration; Accountability and Audit; and Relations with Shareholders. The publication includes the Code itself and related guidance (the Turnbull guidance on Internal Control, the Smith guidance on Audit Committees, and various pieces of good practice guidance from the Higgs report).