Item List : "Auditing"

76. 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.

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

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

78. 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.

79. 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.

80. 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.

81. 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.

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

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

83. 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.

84. Letter, dated 30 July 1992, from JD Traynor, CRH plc.

Expresses concerns about emphasis on control and monitoring, and the influence of accountants and auditors. It continues to make specific points.

85. Correspondence, dated June and July 1992, from RHF Croft, Jeremy Orme, both of SIB and accompanying letter and document on auditing.

These documents concentrate on auditing and its role in investment businesses. The Board supports the Auditing Practices Board, believing its primary function is to form and express an opinion.

86. Letter, dated 31 July 1992, from Sir Richard Greenbury.

Letter comments on board structure, especially unitary boards, the duties of directors to shareholders and the responsibilities of the external auditors.

87. Letter, dated 4 August 1992, from Bill Morrison, Auditing Practices Board.

Comments on the practicality of auditors commenting on corporate governance compliance while proposing an alternative method and also comments on interim reporting.

88. Letter from Financial Reporting Council, dated 6 August 1992, and extract re non-executive director, and Arthur Andersen's Audit committees for the 1990s

Covers the role of institutional shareholders, auditors and non-executive directors.

89. Fax, dated 19 August [1992], from Sir Adrian Cadbury to Nigel Peace, about wording of 5.34, clipped to letter from MJ Harding, Ernst & Young, dated 3 August 1994.

Asks Nigel Peace's opinion of alternative working for para 5.34. This may have been prompted by comments on the draft report from among others Ernst & Young as it is clipped to a letter saying they may have been wrong in their criticisms.

90. Meeting on 17 September 1992, Committee's conclusions on proposed revision to draft report.

Covers all sections of the report with suggested replacement wording.

91. Letter, dated 2 July 1993, from Robert Charlesworth, including guidance on how auditors handle a statement of compliance with the Code of Best Practice and review interim reports.

There is draft guidance on compliance with the Code of Best Practice and also guidance on the topic issued in December 1993. In July 1993 the APB issued a draft for comment on reviewing interim financial information.

92. Letter, dated 25 October 1993, from Howard Davies and paper (C 66 93)on financial reporting and governance, endorsed by the CBI Council.

The paper sets out the many recent reforms in financial reporting and auditing practices. It supports the Cadbury proposals but calls for more coordination and consistency between the various bodies with a role in financial reporting and auditing.

93. Letter, dated 23 February 1994, from Dermot de Trafford, Institute of Directors.

Comments on the recent Auditing Practices Board exposure drafts and too warmly welcoming them.

94. Letter, dated 19 October 1994, from Mr Gillum about audit committees.

Recounts a case history of auditing and proposes a solution.

95. Chairman's brief for the meeting on Wednesday 8(sic) December 1994, agenda for the meeting and minutes of the meeting held on Wednesday 7 December 1994.

Deals with internal control systems, issues for the successor body, monitoring compliance [with the Code] and various aspects handled by the Monitoring Sub-committee. Also includes letter from DTI on length of directors' service contracts, disclosure of no-audit fees paid to firms, protection for auditors reporting fraud. A note sets out proposed amendment to minutes of meeting held on 14 September, 1994.

96. Letter and comments, dated 27 July 1992, from Donald B Butcher, representing the UK Shareholders' Association.

Comments on and suggests approaches on various aspects of AGMs, creating two classes of non-executive directors. Butcher supports rotation of auditors.

97. Letter, dated 12 November 1992, from Beharrell, Thompson.

Raises SEC approach to corporate governance, compliance with Code of Best practice, auditors and the cost of compliance. It includes the documents from the SEC about executive compensation.

98. Letter, dated 30 July 1991, from Sir Simon Hornby about giving evidence to the Committee

Lists the headings which Sir Simon Hornby would discuss.