Correspondence from King Committee on Corporate Governance (South Africa), National Convention for Corporate Directors in Zimbabwe, Toronto Stock Exchange, Arthur Andersen (National Association of Corporate Directors Conference) and DTI.
Includes work done for the sub committee on implementation of the Code of Best Practice.
This letter sets out main features of the codes and expect to be implemented on 1 April 1994.
The document covers the number of copies distributed, other UK organisations and jurisdictions interested in the report, progress on monitoring the Code's implementation, going concern and internal controls.
Contains list of attendees, Committee membership, (missing a letter regarding the role of the Committee) press cuttings, extracts from ICAS Working Party recommendations on internal control and examples of corporate governance statements.
The meeting arose from a CBI letter raising three points among which was the suggestion that accountants had gone further than the Cadbury Committee intended. Points covered included: internal control, going concern, and the proposed publication of a joint programme of ASB, APB, and English and Scottish accountancy institutes.
Comments on the recent Auditing Practices Board exposure drafts and too warmly welcoming them.
The minutes deal with APB exposure drafts, guidance on going concerns and internal controls, compliance and controlling shareholders. The accompanying note list items also enclosed (but missing from the collection).
The file includes the text of Sir Owen Green's Pall Mall Lecture, statistics from the ABI on compliance, agenda and papers on independent boards, monitoring compliance and various papers on internal control.
Seems from the fax there has been earlier correspondence. Beale speaks of plans to implement the Cadbury proposals.
Seeks clarification about the number of independent non-executive directors.
Refers to compliance with the code by NatWest, Camelot, Rentokil. Relevant pages were not attached.
Letter advises booklet which accompanies the letter, has been sent to NHS Chairmen.
Summarises the findings of a survey of opinion about the role of non-executive directors in improving corporate governance.
Accompanying note says no further Committee meetings will be held. Minutes indicate new Committee with 12 members and a Chairman. The Committee also considered proposed changes to Stock Exchange Listing Rules and compliance with the Code.
Informs Sir Adrian of requests to speak, attend dinners or meetings in connection with the Code and seeking his comments on disclosure of directors stock options.
Some controversy over the Arthur Anderson summary.
Letter accompanies a four-part questionnaire that looks at the relationship between British industry and institutional shareholders.
Contains a summary of key points of the Labour Party to tackle short-termism and lack of competitiveness. Also includes the extract: Designing new corporate structures.
Nigel gives the context to answer the query about two-tier boards which would be theoretically possible with directors having specified responsibilities.
Minuted items: internal control (ref Paul Rutteman), going concern, Labour Party document (See CAD-02281) and monitoring compliance with the Code.
Includes full details of membership and sponsorship to date, in addition to listing issues for the successor body and the work of the sub-committee monitoring compliance.
Recounts a case history of auditing and proposes a solution.
Includes full text of paper, Self regulation and the financial aspects of corporate governance.
Sir Adrian states wishes to retire as Chairman and discusses membership, sponsorship and possible issues for the successor body. Includes FRC(94)49.