Cadbury Report

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0 0 REPORT OF THE COMMITTEE ON 0 0 THE F INANCIAL A S P E C T S OF C ORPORATE G OVERNANCE 1 DE C E M B E R 1992 0 0 REPORT OF THE COMMITTEE ON 0 0 THE F INANCIAL A S P E C T S OF C ORPORATE G OVERNANCE 0 1992 The Committee on the Financial Aspects of Corporate Governance and Gee and Co. Ltd. Reproduction of this publication in whole or in part is unrestricted for internal communications within a given organisation. It is otherwise subject to permission which will not be refused but will attract a reasonable reproduction charge. A leaflet is available from the Publishers setting out full details of the level of the charge and when it is applicable. First published…show more content…
The harsh economic climate is partly responsible, since it has exposed company reports and accounts to unusually close scrutiny. It is, however, the continuing concern about standards of financial reporting and accountability, heightened by BCCI, Maxwell and the controversy over directors’ pay, which has kept corporate governance in the public eye. Unexpected though this attention may have been, it reflects a climate of opinion which accepts that changes are needed and it presents an opportunity to raise standards of which we should take full advantage. Our draft proposals have been thoroughly aired and have attracted a considerable weight of informed comment from a wide range of individuals and bodies with an interest in matters of corporate governance. While it has not been uncritical, the great majority of our respondents have supported the Committee’s approach and it is this consensus which gives us a mandate to proceed. The Committee is being looked to for a lead, which we have a duty to provide. I wish to thank the members of the Committee for their diligence and above all our Secretary, whose single-minded commitment to the Committee’s progress has enabled us to complete the task we were set in May of last year. The report represents a shared view of the action which needs to be taken in the field of financial reporting and accountability and it is one to which every member of the Committee has contributed. The Committee has benefited
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