Item List : "Auditing"

1. Handwritten notes of Sir Adrian Cadbury arranged by topic and source of comment, no date.

Includes coments from CBI, KPMG, IoD, CBI Committee, ICAS, and individuals. Main headings are remuneration, independent audit, information to be included in reports.

2. 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. Manuscript notes by Sir Adrian Cadbury on back of photocopies of articles.

Handwritten notes about priorities, auditing, legislation, regulation, independence etc

4. The code of best practice, undated.

This would seem to be a print-out of a presentation on the code of best practice on the report of the Committee.

5. Standards of financial reporting and auditing, undated.

Document concentrates on auditing and accounting standards.

6. Sir Adrian Cadbury's handwritten notes on 'communications with City, responsibilities and auditors.

Handwritten notes from probably 3 different meetings or situations as three different papers, covering most topics of the Committee's investigations.

7. Handwritten notes, headed Alan Sykes, Consolidated Goldfields, no date.

Covers non-executive directors and external auditing.

8. Handwritten notes by Sir Adrian Cadbury, undated. Two pages are paper headed Savoy London, Banquesting - private rooms.

The notes cover institutional investors, power distribution, communication with investors and more detailed notes on the role of auditors.

9. 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

10. 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.

11. 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.

12. 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

13. Handwritten notes headed 'Questions', undated

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

14. 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.

15. In confidence. Note of meeting with Mr Jonathan Charkham, Bank of England on Wednesday, 19 June 1991

Contains thoughts on information disclosure, closeness of auditors to clients and Board responsibility, narrative information rather than figures, enforcement, directors' remuneration and comments on meaning of 'financial aspects of corporate governance'.

16. Handwritten memo, dated 20 June 1991, with extracts from the 1989 Companies Act and ICAEW's What is an audit.

Memo re-arranges meeting of 25 June 1991 with Sir Dermot de Trafford.

17. Record of meeting on 1 July 1991 with Mr Hugh Collum, 100 Group of finance directors

Collum published an article in IASC News on the diversity of accounting standards internationally. 100 Group are very interested in corporate governance and esepcially in definging the role of auditors vs directors.

18. Record of meeting with Mr Chris Swinson, partner of BDO Binder Hamlyn, on 1 July 1991

Mostly concentrates on what ICAEW's Financial Reporting and Auditing Group (FRAG) are doing.

19. Correspondence, papers and report of a meeting with Charles Nunneley, Institutional Fund Managers' Association, July to November 1991.

Contains papers, voting by institutional Shareholders, Communication of Business Plans & Insider Dealing

20. Letter, dated 8 July 1991, with annexes from JP Charkham, Bank of England

Letter contains draft Terms of Reference for the Committee, and proposals for end product with an outline for the final report.

21. Letter, dated 11 July 1991, and final draft by Bow Group Committee paper on corporate governance.

Bow Group paper contains recommendations on non-executive directors, remuneration committees, audit committees, separation of roles, training for directors and their contracts, reporting auditing and memo from Sir Adrian Cadbury.

22. Record of meeting with Mr Brandon Gough, Senior Partner of Coopers & Lybrand Deloitte, on 15 July 1991

Presents the auditor's view. NOTE: implication that BG's behind the scenes work had been influential in setting up Committee.

23. In confidence. Record of meeting with Professor David Tweedie, Chariman of the Accounting Standards Board, on 23 July 1991.

Sets out what ASB would be happy for the Cadbury Committee to consider.

24. Letter, dated 23 July from PJ Butler, KPMG and paper, Reports on the application of acconting principles [Canada].

Paper sets out rules on professional conduct when 'opinion shopping' is an issue.

25. Letter from Sir Simon Hornby, WH Smith, 30 July 1991, and record of meeting with Sir Simon Hornby, 30 October 1991

The letter is a response to a request to give evidence. Areas for discussion: responsibilities of shareholders, independence of auditors, influence of analysts, information to be given in reports.The letter has a siginifcant number of handwritten comments in Sir Adrian's hand.

26. Letter, dated 31 July 1991, from CB Gough, Coopers & Lybrand Deloitte

A contribution to the key issues for the Committee: roles of non-executive directors and shareholders; internal control systems; auditing appointments.

27. Correspondence, dated 6 August 1991, from IBC Financial Focus limited inviting Sir Adrian to speak on the role of auditors at a conference, Stockmarket in the 1990s.

The invitation includes proposed conference programme.

28. First two pages of a fax, dated 18 August 1991, to Sir Adrian Cadbury with handwritten notes on the back of both pages.

One page is the first page of a draft paper about the role of auditors. Both pages have Sir Adrian's handwritten notes on the back which may refer to Committee Meeting or meeting with Mr Joll.

29. Draft, dated 21 August 1991, evaluating a company's progress, prepared by Neville Bain, Coats Viyella

Paper prepared by Neville Bain. Not clear who is the intended audience.

30. Meeting with N. C. Bain 22/8/91.

Mostly relates to auditing and accounting standards.

31. Memo and record of meeting with Mr Tony Groag, Head of Internal Audit at BP, 6 September 1991.

Includes a short paper by Groag on the role of internal audit.

32. Record of meeting with Marjorie Mowlam MP, Opposition Spokeswoman on Corporate and City Affairs, on 19 September 1991

Gives the Labour position at the time.

33. Letter, 20 September 1991, to JAB Joll, and record of meeting with Mr James Joll, Finance Director of Pearson plc on 19 September, 1991

Report of meeting focuses on auditing.

34. Letter, dated 23 September 1991, from Roger Gray, CIMA and supporting evidence.

This is a reply to a request for comments on financial reporting, audit committees and the responsibilities of auditors.

35. Record of lunch with Mr Donald Main, Group Finance Director of Trust House Forte, on 24 September 1991

Record focuses on role of accounting standards and auditors.

36. Record of meeting with Mr Derek Foster, recently retired technical partner of Arthur Young, on 26 September 1991.

Concentrates on the role of the auditor.

37. Record of meeting on 1 October 1991, with Mr James Leek, Director of Caparo Industries plc

Concentrates on the liability of auditors and their responsibilities.

38. Memoranda to the Committee from the Financial Reporting and Auditing Group 1- giving more power to shareholders in their dealings with auditors CFACG(91)9 FRAG and 2 - the form an content of financial reporting.

These documents consider the issues in detail. These documents should be with the minutes which are missing.

39. Note of meeting with Mr John Stevenson on 1 October 1991

The focus of the meeting was the independence of auditors, Mr Stevenson is the retired technical partner of Touche Ross. Sir Adrian's handwritten notes from the meeting are attached.

40. Correspondence about co-opting Sir Christopher Hogg on to the Committee and record of meeting with him on 25 October 1991

AC Hugh Smith agreed to co-opting Sir Christopher Hogg on to the Committee. Also includes handwritten notes in preparation for or taken at the meeting with Chris Hogg.

41. Letter and submission from the Society of Investment Analysts, 29 October 1991

The submission covers the composition of the Board e.g. Separate Chairman and Chief Executive, non-executive directors; qualitative and quantitative financial reports, importance of non-executive directors, external auditors and audit committees.

42. Proposals on auditors, dated 31 October 1991.

This typewritten note summarises comments on auditors by four people: Austin Mitchell, Marjorie Mowlam, James Leek and Brandon Gough.

43. Issues for the Committee's successor body, 30 November 1994 and Sarah Brown's response to enquiries about progress in implementing three recommendations in [the Cadbury] report.

Highlights issues for a successor body, namely, research into compliance, research funding and recommended amendments to the Companies Act. Sarah Brown's letter deals with directors' service contracts, fees paid to audit firms for non-audit work, protection for auditors reporting fraud.

44. National Westminster Bank's submission to the Committee on the Financial Aspects of Corporate Governance, November 1991.

Submission covers the role and responsibilities of boards of directors, financial reporting, shareholders, auditing and regulation.

45. Letter from London Business School [Andrew Likierman], 20 November 1991.

Letter is response to a request to comment on the role and responsibilities of auditors. Also has Sir Adrian's handwritten notes on backs of two pages, headed respectivley Andrew Likierman and Bill Morrison.

46. Record of meeting with National Association of Pension Funds, 26 November 1991 and various documents.

Includes published material written by NAPF and survey on voting issues, proposals for an expanded auditors' report. See also CAD-01166.

47. Record of meeting with Dr GH Selim, President of the Institute of Internal Auditors, on 30 October 1991

Main topics covered: audit committees, their relationship with external auditors, reporting on internal control systems.

48. Correspondence with Austin Mitchell and Prem Sikka and their submission, December 1991, January 1992

Covers issues such as communication between boards and shareholders, emphasis on the long term, corporate reporting, company-auditor relationships, responsibilities of non-executive directors, audit committees and auditors responsibilities.

49. Record of meeting with Mr Bill Morrison, Chairman of the Auditing Practices Board, on 4 December 1991

Includes a draft work programme and an update of the draft Accounting Practices Board discussion draft.

50. Handwritten notes (17 December 1991) and letter from RJ Chapman, Arthur Andersen, 7 November 1991.

Letter sets out Arthur Andersen's views as a contribution to evidence gathering.