Includes coments from CBI, KPMG, IoD, CBI Committee, ICAS, and individuals. Main headings are remuneration, independent audit, information to be included in reports.
Covers two-tier boards, audit committees, independence of non-executive directors.
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.
Neville Bain sets out some points on directors and responsibilities, annual reports and audit committees.
Objective of the meeting: to canvass Sir Ron's view of the ground the Committee might cover.
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.
Draws attention to the various working groups within the accountancy profession.
Expresses concern about tone and prescriptiveness of the report with regard to non-executive directors.
Includes correspondence from an institutional investor and articles of association of Guinness.
Notes refer to role and responsibilities of non-executive directors of larger publicly quoted companies.
Paper prepared by Neville Bain. Not clear who is the intended audience.
Mostly relates to auditing and accounting standards.
Letter gives personal views of MG Lickiss on independence of non-executive directors and their responsibilities for discussing the process of the audit with external auditors, separation of the role of Chief Executive and Chairman, internal system controls applying to quoted companies.
Gives the Labour position at the time.
Report of meeting focuses on auditing.
This is a reply to a request for comments on financial reporting, audit committees and the responsibilities of auditors.
Concentrates on the role of the auditor.
Concentrates on the liability of auditors and their responsibilities.
19. 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.
Letter concentrates on various committees within a company and a responsible attitude being adopted by institutional shareholders.
Letter mentions the number of non-executive director posts held and the roles of non-executive directors.
Main topics covered: audit committees, their relationship with external auditors, reporting on internal control systems.
Comments on 100 Group paper definition of corporate governance, the board should be balanced and reporting.
Comments on the papers circulated for the 20-21 January 1992 meeting.
Extract refers to Audit Committee and in particular to independence of its members.