Committee on the Financial Aspects of Corporate Governance 1994

12 items, ordered by date.

1. Minutes of Committee meeting held on 9 September 1993

Matters reported include extending the application of the Code to large private companies, and possible extension to smaller companies, progress of monitoring sub-committee and their work, rolling contracts, terminology for directors.

2. Minutes of the Committee meeting held on Wednesday 23 February 1994 and covering memo

The minutes deal with APB exposure drafts, guidance on going concerns and internal controls, compliance and controlling shareholders. The accompanying note list items also enclosed (but missing from the collection).

3. Sir Adrian Cadbury, Committee meeting 19 May 1994

The file includes the text of Sir Owen Green’s Pall Mall Lecture, statistics from the ABI on compliance, agenda and papers on independent boards, monitoring compliance and various papers on internal control.

4. Minutes of the [Committee] meeting on 10 May 1995

Accompanying note says no further Committee meetings will be held. Minutes indicate new Committee with 12 members and a Chairman. The Committee also considered proposed changes to Stock Exchange Listing Rules and compliance with the Code.

5. Sir Adrian Cadbury, Committee Meeting 14 September 1994, Winning for Britain – Labour’s strategy for industrial success CFACG(94)3

Contains a summary of key points of the Labour Party to tackle short-termism and lack of competitiveness. Also includes the extract: Designing new corporate structures.

6. Minutes of the [Committee] meeting held on Wednesday 14 September 1994

Minuted items: internal control (ref Paul Rutteman), going concern, Labour Party document (See CAD-02281) and monitoring compliance with the Code.

7. Correspondence with John Holland, November 1994, about financial institutions and their role in corporate governance

Includes full text of paper, Self regulation and the financial aspects of corporate governance.

8. Letter, dated 25 November 1994, from Paul Rutteman and comment on by the Auditing Practices Board on draft about ‘Internal control and financial reporting’

Comments on and seeks discussions with the Committee on the draft guidance on paragraph 4.5 of the Cadbury Code i.e. Reportable weakness and effectiveness of internal financial control systems.

9. Letter, dated 30 November 1994, from Martin Jones, Touche Ross to Mark Sheldon, Linklaters & Paines

The letter opines that encouragement to to express opinions about the effectiveness of internal control would be premature.

10. 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.

11. Sir Adrian Cadbury CFACG(94) 4th meeting 7 (or 8?)December 1994

This is a file number and no individual papers are extant. It comprises several items.

12. Foreword for [ICAEW?] Working Group on Internal Control and Financial Reporting and accompanying handwritten fax, 15 December 1994

Foreword to the ICAEW’s guidance on internal control and financial reporting which appeared in Accountancy, February 1995.