Paper summarises the issues in corporate governance and accountability, including responsibilities, current UK Legislation and EC Directives
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.
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.
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.
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
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.
Proposal for a seminar of 20 people with suggested names to discuss the philosophy design and purpose of the company. See also CAD-01035.
Notes on conduct of Annual General Meetings, auditors, directors' remuneration.
Letters to AC and RTZ expressing concern about the large increase in top salaries and accounting practices.
Letters expressing interest in Committee and comment on independent non-executive directors.
Letter, 9 May 1991, from Martin Simons about timely payment of bills. Accompanying photocopy of letter, published in The Times.
This is the briefing to launch a high level review.
Letter encouraging the recipient to comply completely with the new public discussion document: Corporate practices and conduct.
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.
Letter suggests including a public relations representative on the Committee.
Neville Bain sets out some points on directors and responsibilities, annual reports and audit committees.
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.
General good wishes.
Offering sample copies of new product dealing with financial reporting by companies.
Objective of the meeting: to canvass Sir Ron's view of the ground the Committee might cover.
Thanks for a book.
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.
Letter offers to give evidence.
Congratulatory letter to Sir Adrian on his appointment to establish a Corporate Governance Committee.
Correspondence advising of progress since seminar of The purpose of the company, 14 March 1991 (see CAD-01027)