Despite the lack of worry around the former chairman's performance at the time, the broadcaster said he should have declared the help he gave to Boris Johnson to secure a large loan.
But they criticised Mr Sharp's application for the post, saying:"The relevant declarations should have been made at the outset of his tenure, to avoid any potential perceived conflicts of interest."
The report said failing to reveal the part he played in the loan was"not in line with clause 2.4 of the [BBC] board's code of practice".However, they added:"The committee were also content, based on the evidence, that all other aspects of the code had been followed satisfactorily by the chairman during his time in the role.
They also said the code of practice the organisation's guidance should be looked at"to make sure they were clear enough that personal and political as well as professional or pecuniary relationships should be considered for disclosure". And there should be"a clearer process" to mark and minute meetings between the board and senior political figures.
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