1991

1. Coopers & Lybrand Deloitte paper on corporate governance and accountability, 30 January 1991

Paper summarises the issues in corporate governance and accountability, including responsibilities, current UK Legislation and EC Directives

2. Letter, dated 30 January 1991, from CB Gough to Sir Peter Gregson, Permanent Secretary, Department of Trade & Industry

The letter refers to a meeting which covered the relationship between boards of directors and auditors and the effectiveness of audit. It proposes a review of corporate governance and accountability.

3. Making corporate governance more effective, paper submitted on 1 February, 1991, to Accountancy Age

The paper briefly reviews issues in corporate governance: appointment of non-executive directors to the board and their contribution; the integrity of financial information; auditing standards and the responsibilities of auditors.

4. Letter, dated 5 February 1991, from Prof JP Percy, Institute of Chartered Accountants of Scotland

Letter advises the ICAS will set up a working party, chaired by Nigel Macdonald, on corporate governance and offering assistance. ICAS will set up a working party on corporate governance and enclosing typescript of an article, 'Making corporate governance more effective', announcing it. Article supposedly sent to Accountancy Age 1 February 1991.

5. Note about the EC eco-audit draft regulation, prepared by Barnus Ltd, environmental consultants, sent by Ronald Somerville

Covers proposed EC Regulation on the requirement for an audit of a company's environmental policy and performance. Includes handwritten note to Sir Adrian from Ronald Somerville

6. News release, 2 April 1991, from the Institute of Chartered Accountants of Scotland, Scots CAs set up corporate governance working party.

The brief is to consider : management's responsibility for financial statements; the need to require companies to maintain adequate internal control systems; the implications of these issues for the role of audit committees. Membership of the Committee is listed.

7. Draft, the purpose of the company - the next steps.

Proposal for a seminar of 20 people with suggested names to discuss the philosophy design and purpose of the company. See also CAD-01035.

8. Handwritten notes headed 'Questions', undated

Notes on conduct of Annual General Meetings, auditors, directors' remuneration.

9. Letters commenting on increases in top salaries, May 1991

Letters to AC and RTZ expressing concern about the large increase in top salaries and accounting practices.

10. Letters from Marie Jennings, May and September 1991

Letters expressing interest in Committee and comment on independent non-executive directors.

11. Letter, dated 9 May 1991, from Martin Simons

Letter, 9 May 1991, from Martin Simons about timely payment of bills. Accompanying photocopy of letter, published in The Times.

12. Draft, the financial aspects of corporate governance briefing, 13 May 1991.

This is the briefing to launch a high level review.

13. Letter, dated 15 May 1991, from H Bosch to Mr S B Myer, Chairman, National Mutual Life Association of Australia

Letter encouraging the recipient to comply completely with the new public discussion document: Corporate practices and conduct.

14. Letter, dated 31 May 1991, from JA Leek, Caparo with attached press cuttings and text of his speech to London Practioner [sic, practitioner] Board, April 1991.

Letter expresses keenness to give evidence to the Committee and includes FT article and Leek's presentation to the London Practitioner Board, 19 April 1991.

15. Correspondence, June and July 1991, between Roger Haywood, Institute of Public Relations and Sir Adrian Cadbury

Letter suggests including a public relations representative on the Committee.

16. Letters, June 1991, between Sir Adrian Cadbury and Neville Bain, Coats Viyella.

Neville Bain sets out some points on directors and responsibilities, annual reports and audit committees.

17. Confidential: PC 26 91 memo to the President's Committee for the meeting on 3 June 1991, including summary of a discussion document. Faxed 5 June 1991

This refers to a Statement of Best Practice published by the Institutional Shareholders' Committee and the ABI. It sets out key points, while asking the Committee to consider response to the ABI discussion document.

18. Letter from Viscount Watkinson, 6 June 1991.

General good wishes.

19. Letter, dated 10 June 1991, from IDS, Incomes Data Services Ltd

Offering sample copies of new product dealing with financial reporting by companies.

20. In confidence. Record of meeting with Sir Ron Dearing, Chairman of the Financial Reporting Council, on 11 June 1991

Objective of the meeting: to canvass Sir Ron's view of the ground the Committee might cover.

21. Letter, dated 12 June 1991, from Geoffrey Owen, Centre for Economic Performance

Thanks for a book.

22. In confidence. Record of meeting with Mr Nigel Macdonald, vice president of the Institute of Chartered Accountants of Scotland and partner, Ernst and Young, on 14 June 1991.

Includes the terms of reference of the Working Party formed by the Institute of Chartered Accountants of Scotland to address selected issues concerning corporate governance.

23. Letter, dated 14 June 1991, from Sir Simon Hornby, WH Smith PLC

Letter offers to give evidence.

24. Letter, dated 17 June 1991, from Prof JP Percy, Grant Thornton

Congratulatory letter to Sir Adrian on his appointment to establish a Corporate Governance Committee.

25. Letter, dated 18 June 1991, from Mark Goyder

Correspondence advising of progress since seminar of The purpose of the company, 14 March 1991 (see CAD-01027)