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Item List : "Comments on corporate governance draft report"

174 items, ordered by date. Displaying page 1 of 2. Show on timeline Items per page: 25 | 50 | 100 | All 

1. Comments from VW Benjamin, undated.

Comments on the absence of input from business, executive remuneration, separation of roles, application of the code to smaller listed companies and various aspects of auditing. Also includes comments on specific paragraphs.

3. Letter, final draft, undated, from Richard Balarkas of City Group for Smaller Companies with comments on [draft] report.

The letter has attached detailed suggested refinements when the code is applied to smaller quoted companies.

4. Excerpt from Mr Charkham's note for record of his visit to Marks and Spencer (Sir Richard Greenbury) on 15 July 1991.

Expresses concern about tone and prescriptiveness of the report with regard to non-executive directors.

6. Correspondence, dated November, from Clive Boxer, Davies Arnold Cooper and Laurence Cockcroft of Transparency International and KG Wilton.

Davies, Arnold, Cooper proposes insurance for non-executive directors. Transparency International asks for support for its cause. Wilton proposes greater involvement of institutional shareholders.

7. Letter, dated 24 March 1992, from Sir Ron Dearing.

Main purpose of the Committee was to strengthen the position of the auditor and clarify the responsibilities of the directors. Two vulnerabilities identified were accountability to the worker and the small shareholder.

8. Letter, 7 July 1992, from JP Dobrowolski, Argos plc.

Comments on the role of internal auditors.

9. 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.

11. Letter, dated 7 May 1992, from Sir Ron Dearing, Delta plc on behalf of the Financial Reporting Council.

Comments on potential for statements of conformity to become meaningless, possible progress to an international accounting regime and institutional shareholders, plus detailed comments.

12. Evidence submitted to the Committee prior to publication of draft report, 26 May 1992.

Lists organisations, companies and individuals who submitted evidence to the Committee, and meeting notes and published documents.

13. Letter from Sir Nicholas Goodison, TSB Group, 29 May 1992.

Letter expresses support for the draft report.

14. Letter, dated 31 May 1992, from Tony Morton and comments on the draft report.

Comments on voluntary nature of compliance, internal control systems and comments on specific paragraphs.

15. 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.

17. Letter from Sir Ron Dearing, Financial Reporting Council, 4 June 1992

Further comments on the Committee's report, specifically the Code of Best Practice and auditors role.

18. Letter, dated 8 June 1992, from DJ Hughes with acknowledgement by Nigel Peace.

Comments that serious problems shareholders face, on remuneration committees and the Caparo case. Includes memo from Nigel Peace.

19. Letter, dated 10 June 1992, from Ron Dearing, Financial Reporting Council and Companies House form 288.

Suggests an additional entry on the form about directors understanding their duties.

20. Letter, dated 15 June 1992, from Neville Bain, Coats Viyella giving comments on the draft report and Code of Best Practice.

Includes comments on audit committees, the role of auditors, board effectiveness and internal system controls.

21. Letter, dated 16 June 1992, from Stewart Douglas-Mann, Guinness Mahon & Co.

Comments on the wording re independence of non-executive directors.

22. Comments, dated 17 June 1992, by JC Dwek, Bodycote International plc, letter and reply by Nigel Peace.

Comments that fraud is very difficult to prevent and comments on non-executive directors and auditing, especially their resignation advice.

23. Letter, dated 17 June 1992, from Gavin Fryer with background information and reply by Nigel Peace.

Comments on enforcement, adoption and efficacy, control structures, role of the board of directors, audit committees and director accountability.

24. Letter, dated 18 June 1992, Annual Report analysis from Jonathan Chaytor and FT article.

Comments on institutional investors, non-executive directors and internal auditors.

25. Letter, dated 23 June 1992, from Top Pay Research Group.

Comments on the provisions for non-executive directors to take advice and their roles and responsibilities, independence of auditors, directors' remuneration.

26. Letter, dated 24 June 1992, from EA Bradman.

Comments on voluntary nature of the code, non-executive directors, the role of audit committees, directors' contracts and the independence of auditors.

27. Letter, 24 June 1997, from Edward Adeane, Hambros and reply by Nigel Peace.

Seeks and gives clarification on the meaning of independent in relation to non-executive directors.

28. Address to the Annual Conference of the Institute of Chartered Accountants in England and Wales, Eastsbourne 25-27 June 1992, The role of Directors by Graham Corbett.

This is a workshop exercise on the role of the directors in Eurotunnel delivered at the ICAEW conference . It is used to comment on unitary boards, separation of roles of Chairman and Chief Executive, non-executive directors and institutional investors.

30. Letter, dated 30 June 1992, from Jane E Lyon, Union of Independent Companies.

Comments on the application of the code to smaller companies.

31. Letter and comments, dated 30 June 1992, from Tim Knowles.

Comments on non-executive directors, financial reporting, auditing and institutional shareholders.

32. Correspondence, dated July / August 1992 between Sir Adrian Cadbury and Tony Hirst, Association of Independent Museums.

Hirst expresses concern about the suggestion that non-executive directors should only serve on one board.

33. Letter, dated 1 July 1992, from AR Threadgold, POSTEL.

Comments on separation of roles of Chairman and Chief Executive, independent non-executive directors and directors service contracts and the independence of auditors.

34. Comments on the draft report of the Cadbury Committee on the Financial Aspects of Corporate Governance by the Law Society, July 1992. w

Legal Practice Directorate Memorandum no. 271. It comments on the application of the code to smaller companies.

35. Letter, dated 2 July 1992, from JJLG Sheffield, Norcros.

Comments on potential for two-tier boards, non-executive directors entitlement to take independent professional advice, internal control systems and going concern.

36. Letter, dated 2 July 1992, from DS Mitchell, ICSA and proposals to be debated by the Institute with handwritten note by Nigel Peace.

An invitation to make a presentation about the draft report to an evening meeting open to all company secretaries.

37. Letter, dated 3 July 1992, from AC Bryant, Bryant Group.

Comments on non-executive directors vs directors and audit committees.

38. Letter, dated 3 July 1992, from Dermot Glynn, NERA and presentation, dated June 1992.

Includes a paper on European accounting, audit independenc and regulation.

39. Letter, 5 July 1992, from AL Hempstead.

Comments on lack of audited accounts for a fund managed by the Nationwide Building Society.

40. Letters, 6 July 1992, from ICSA , extract from Administration and letter from Joanthan Charkham, Bank of England.

Comments on the role of the company secretary in corporate governance and directors' access to information.

41. Memo, dated 6 July 1992, and summary of audit trustee proposal by AJ Merret and Allen Sykes with comments by Price Waterhouse.

Suggests appointing an 'audit trustee' appointed by lenders and creditors rather than the board.

42. Letter, 7 July 1992, from RJ Alexander, London and Manchester Group plc.

Author suggests that an 'Appointed Accountant' with responsibility for preparing financial reports, should be employed.

43. Letter, 7 July 1992, and comments from TJ Grove.

Comments on appearing to be written with best interests of directors, and aspects of auditing.

44. Letter, 7 July 1992, from Swiss Bank Corporation.

Comments on the delegation of powers by the board to the subcommittees.

45. Letter, 7 July 1992, from John Lavery and Simon Pallett, Newcastle upon Tyne Polytechnic.

Comments on self-regulatory approach, separation of roles of Chairman and Chief Executive and non-executive directors, directors' remuneration and financial reporting.

46. Letter, 8 July 1992, from DEF Green.

Comments on independence of auditors, audit committees and non-executive directors.

47. Letter, 8 July 1992, from Michael Jackaman, Allied Lyons plc.

Letter informs that Allied Lyons complies with the code although the appointmentof non-executive directors is informal and would prefer a voluntary code.

48. Letter, 8 July 1992 from AG Biggart.

Comments on involvement of non-executive directors in strategic direction of companies.

50. Letter, 9 July 1992, from Stanley Kalms, Dixons.

Warns against a prescriptive approach, that effectively promotes two-tier boards.

51. Letter, 10 July 1992, from Anthony Habgood, Bunzl.

Comments on implications of widening the pool for non-executive directors, audit committees and accounting standards, different board structures.

52. Letter, 10 July 1992, from NC Kelleway, Rikard Keen & Co.

Comments on auditing, complying with a code of best practice, non-executive directors, internal control systems and going concern recommendations.

53. Handwritten letter, 10 July 1992, from WH Melly.

Comments on employee shareholders, directors pay-offs and pension funds.

54. Letter, 10 July 1992, from CM Stuart.

Comments on non-executive directors roles, internal control systems, the role of auditors.

55. Letter, 11 July 1992, from Ian J Mitchell.

Comments on information for the small shareholder, going concern and extended comments on take-overs and fraud.

56. Letter, 13 July 1992, from Gerard Howe, Howe Associates.

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.

57. Letter, 13 July 1992, from Sir George Russell, Marley plc.

Comments on differentiation between executive and non-executive directors, access to independent advice, and communication with shareholders.

58. Letter, 13 July 1992, from RM Head, BPB Industries.

Comments on the role of the Company Secretary, achieving effective governance, potential two-tier boards, remuneration committees, audit committees, financial reporting and going concern.

59. Letter, 13 July 1992, from DE Reid, Tesco plc.

Comments on non-executive directors, the separation of roles of Chairman/Chief Executive, audit committess and auditing and financial reporting.

60. Letter, 14 July 1992, from JBH Jackson.

Comments from his perspective of 'professional chairman' and strongly in favour of unitary boards.

61. Letter and comments, dated 14 July 1992, from Allen Sykes.

Comments on the need for independent directors, institutional investors.

62. Letter, 14 July 1992, from John Salter, Denton Hall Burgin & Warrens.

Comments that a Cadbury 2 Committee is needed to consider enviornmental management systems.

63. Letter, dated 14 July 1992, to the Editor of the International Financial Law Review.

Letter refutes the claim that non-executive directors should only hold one such directorship.

64. Letter, dated 14 July 1992, to the Editor of the Sunday Telegraph, from Sir Adrian Cadbury.

Letter refutes the claim that non-executive directors should only hold one such directorship.

65. Letter, 14 July 1992, from Brian Houlden, Warwick Business School.

Comments that there is no need for additional legislation and on areas outside the Committee's Terms of reference. Includes an excerpt from Reed International Annual Report and the FT, 26 June 1992.

66. Letter, 15 July 1992, from HS Axton, Brixton Estate plc.

Comments on board structures, internal control systems, enhanced disclosure in interim reports and going concern requirement.

67. Letter, 15 July 1992, from Sir Colin Southgate, Thorn EMI plc.

Comments on the tone which suggests no director is to be trusted only non-executive directors.

68. Letter, 15 July 1992, from Sir Colin Corness, Redland plc.

Comments on position of auditors, potential to create two-tier boards, number of non-executive appointments and on the Code of Best Practice. Includes original and photocopy.

69. Letter, 15 July 1992, from Graham Nicholson addressed to the President of ICSA.

Comments on the code only applying to holding companies.

70. Letter, 16 July 1992, from Financial Reporting Council with submissions for other organisations, Paul Girolami (ICAEW), Rowen Mills Associates, Delta plc, Sears plc

Financial Reporting Council comments on the draft report and includes 2 commenting letters and earlier ones. It also makes suggestions on how to alter the text while commenting on the auditors role, non-audit fees of the auditor.

71. Extract from IFMA Update, 16 July 1992.

Comments that the Code of Best Practice may not be practicable for small companies and there is too clear a distinction between executive and non-executive directors.

72. Draft response of ICAEW, dated 16 July 1992.

Comments on voluntary approach, timing of implementation of compliance, which companies it should be applied to, auditor endorsement, costs, executive and non-executive directors and auditing. Detailed comments are included for some paragraphs.

73. Letter, 16 July 1992, from Gary Allen, IMI plc.

Comments on responsibilities of directors and potential for two-tier boards, non-executive directors, access to independent advice and the role of the auditors.

74. Letter, 17 July 1992, from New Bridge Street Consultants and comments.

Comments on the calibre of non-executive directors, their remuneration and selection, the role of the board, committees of the board, independent advice and auditing.

75. Letter, 17 July 1992, from Law Society of Scotland.

Broadly welcomes the draft report, while believing the code should be applied to all companies.

76. Letter, 20 July 1992, from the General Electric Company, plc.

Comments on non-executive directors and the effectiveness of the board, audit committess, expanded disclosure in interim results and changing auditors.

77. Letter, 20 July 1992, from David Fifield.

Comments on ownership models, accountancy work, short-termism.

78. CBI response to the Cadbury Committee draft report on the financial aspects of corporate governance, PC 27 92, 20 July 1992.

Comments in detail on sections of the draft report, approving the self regulation approach, questioning statements of compliance requirement, commenting on the role of non-executive directors, remuneration, auditing and shareholders' role.

79. Letter, 20 July 1992, from Institute of Business Ethics.

Comments on responsible leadership by boards and their remuneration, independence of non-executive directors.

80. Letter, 20 July 1992, from Andrew Robb, Pilkingon plc.

Comments on potential two-tier boards, non-executive directors, auditing.

81. Letter, 21 July 1992, from Paul Girolami, Glaxo.

Comments on directors and non-executive directors roles, auditors and Code of Best Practice.

82. Letter, dated 21 July 1992, from the Foreign and Colonial Investment Trust PLC.

Comments on 'going concern', and number of non-executive directorships.

83. Letter, 21 July 1992, from Slough Estates plc.

Comments on the Code of Best Practice, financial reporting and possible regulation.

84. Letter and comments, dated 23 July 1992, from Blenyth Jenkins, the Institute of Directors.

Comments in the context of the wider context of corporate governance, while focussing on internal control, self-regulation and enforcement, interim financial reporting and auditing.

86. Comments, dated 23 July 1992, from the Chartered Institute of Management Accountants.

Comments on the separation of roles, non-executive directors , internal control systems, audit and remuneration committees and various aspects of auditing.

87. Letters from Richard Lloyd, Chairman of Vickers, 23 July 1992.

Letter to Nigel Peace gives specific comments on the draft report which is generally welcomed.

88. Comments, dated 24 July 1992, from Catherine Gowthorpe, Lancashire Polytechnic Business School.

Comments at length on non-executive directors - the qualities required, their financial interests and selection. Also includes comments on the board and in detail on aspects of auditing.

89. Letter and report, dated 24 July 1992, from the Institute of Internal Auditors.

Comments on codes for standards of conduct, the role of internal auditors and an auditing committee, fraud and compliance with the code.

90. Letter, dated 28 July 1992, from Serious Fraud Office.

Comments on auditors' statutory protection and the role of non-executive directors.

91. Letter, dated 28 July 1992, from BDO Binder Hamlyn.

Comments on Code of Best Practice, audit committees, directors' contracts, reporting and aspects of auditing.

92. Letter, dated 28 July 1992, from Ian Harrison, Courtaulds plc with comments on the draft report.

Comments on the requirement for interim financial reports to include balance sheets, access to professional advice for non-executive directors and the roles of directors at an AGM.

93. Letter, dated 28 July 1992, from Grant Thornton.

Comments on implementation by self-regulation vs legislation, applicability to smaller companies, non-executive directors and going concern.

94. Letter, dated 28 July 1992, from McKenna & Co.

Letter covers enforcement of the code, the role of non-executive directors, separation of the roles of Chief Executive and Chairman, shareholders' role and that of the auditors with respect to fraud.

95. Letter, dated 29 July 1992, from TF Mathews, Building Societies Commission.

Largely concerns building societies and the ratio of executive to non-executive directors.

96. Letter, dated 29 July 1992, from David Jinks, Cadbury Schweppes.

Comments on potential for two-tier boards, enforcement, involvement of investors, various aspects of auditing, going concern and disclosure of directors' remuneration.

97. Letter, dated 29 July 1992, from WM Rees and Saleem Sheikh, City of London Polytechnic and paper on corporate governance and corporate control.

Includes a paper entitled 'Corporate governance and corporate control: self-regulation or stautory codification? A comment on the draft report of the Committee on the Financial Aspects of Corporate Governance.

98. Letter, dated 29 July 1992, from Ewen Macpherson, 3i and findings from ukplc concerning the draft report.

Comments on board of directors, non-executive directors, audit committees, reporting and the involvement of shareholders.

99. Letter, dated 29 July 1992, from JC Kay, Gaskell plc and comments on the draft report.

Comments on alternative accounting treatments, application to smaller companies and non-executive directors.

100. Letter, dated 29 July 1992, from JNC James, Grosvenor Estate Holdings.

Comments on non-executive directors access to independent financial advice.

The Cadbury Archive at Cambridge Judge Business School consists of papers compiled and preserved by Sir Adrian Cadbury from his time as Chairman of the Committee on the Financial Aspects of Corporate Governance.

For more information about this archive or to enquire about access to original documents, please:

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