GermanyWirtschaftsprüferkammer
Revised German Corporate Governance Code applies from 4 January 2027
Ten of 66 recommendations and suggestions are deleted, five simplified and two downgraded, with no new duties; compliant companies stay compliant ahead of the planned 4 January 2027 switch.
By Taxxa AI OyPublished 11 November 2026
Industry: Across industries
The Regierungskommission Deutscher Corporate Governance Kodex published a revised Deutscher Corporate Governance Kodex (DCGK) on 10 November 2026. The revision aims to make the Kodex simpler, more practicable and more readily comparable internationally, by deleting and simplifying existing provisions and removing redundancies against statutory requirements and other provisions of the Kodex itself.
Of the 66 recommendations and suggestions in force so far, ten are deleted in whole or in partWPK, five are simplified or merged, and two recommendations are converted into suggestions. Deleted items include the recommendations on publication deadlines for the Konzernabschluss (consolidated financial statements) and on mandatory unterjährige Finanzinformationen (interim financial information), as well as the note that expertise in the audit committee covers Nachhaltigkeitsberichterstattung (sustainability reporting) and its audit.
The revision introduces no new requirements. According to the Regierungskommission, companies that comply with the previous Kodex thereby also comply with the revised versionWPK, so compliant issuers need not change their governance practice to remain code-compliant
WPK.
The new version has been transmitted to the Bundesministerium der Justiz und für Verbraucherschutz for review. Its publication in the Bundesanzeiger and its entry into force are planned for 4 January 2027. Until then, the version in force since June 2022 remains the benchmark for the annual declarations of conformityWPK.
For boards, company secretaries, corporate counsel, auditors and proxy advisers of listed companies, the practical effect concerns the annual declaration under § 161 Aktiengesetz: from the 2027 declaration round, conformity is measured against the revised KodexWPK, while declarations covering the period up to 4 January 2027 continue to refer to the June 2022 version
WPK. Under § 161, the management and supervisory boards declare each year whether the published recommendations were and will be followed, or which recommendations were not applied and why, and keep that declaration permanently accessible on the company's website. Legal basis is the Deutscher Corporate Governance Kodex of the Regierungskommission in conjunction with § 161 Aktiengesetz on the annual declaration of conformity.
Map your next § 161 declaration of conformity to the revised Kodex while keeping the June 2022 version as the benchmark for any declaration covering periods up to 4 January 2027.