Comments on the papers circulated for the 20-21 January 1992 meeting.
Covers aspects of board of directors, internal controls, financial reporting, auditing.
The views cover the range of auditing issues, non-executive directors, responsibilities of directors, divided boards and other matters.
Comments on the role of internal auditors.
55. Correspondence from Ron Dearing, Financial Reporting Council, including responses to the draft report from ICAEW, Rowena Mills Associates, Delta plc and Sears plc between 1 May 1992 and 23 July 1992.
Includes comments on differentiation between executive and non-executive board members, role of auditors and non-audit fees. Memo from Nigel Peace included.
Includes 2 pp of 11 questions apparently compiled by ICAEW referring specifically to auditing and accounting aspects.
57. Report on a pilot study on attitudes toward the issues of corporate governance, a presentation by Angus Maitland, Burson-Marsteller at CBI/B-M conference on Corporate Governance 10 June 1992 and reply by Nigel Peace.
Reports the results of a survey. Auditors are least likely to benefit while non-executive directors benefit most. Responsibility for compliance lies with company management and institutional shareholders or Stock Exchange, while expresses doubts over self-regulation.
Comments that fraud is very difficult to prevent and comments on non-executive directors and auditing, especially their resignation advice.
Comments on institutional investors, non-executive directors and internal auditors.
Comments on voluntary nature of the code, non-executive directors, the role of audit committees, directors' contracts and the independence of auditors.
Comments on non-executive directors, financial reporting, auditing and institutional shareholders.
Comments on separation of roles of Chairman and Chief Executive, independent non-executive directors and directors service contracts and the independence of auditors.
Includes a paper on European accounting, audit independenc and regulation.
Comments on lack of audited accounts for a fund managed by the Nationwide Building Society.
Suggests appointing an 'audit trustee' appointed by lenders and creditors rather than the board.
Author suggests that an 'Appointed Accountant' with responsibility for preparing financial reports, should be employed.
Comments on appearing to be written with best interests of directors, and aspects of auditing.
Comments on independence of auditors, audit committees and non-executive directors.
Comments on auditing, complying with a code of best practice, non-executive directors, internal control systems and going concern recommendations.
Comments on non-executive directors roles, internal control systems, the role of auditors.
Comments on distinctions between executive and non-executive directors, compliance with the code, separation of roles and board appointments, committees, directors remuneration, auditors and other services to organisations.
Comments on differentiation between executive and non-executive directors, access to independent advice, and communication with shareholders.
Comments from his perspective of 'professional chairman' and strongly in favour of unitary boards.
Comments on responsibilities of directors and potential for two-tier boards, non-executive directors, access to independent advice and the role of the auditors.
Comments on ownership models, accountancy work, short-termism.