1994

37 items listed, ordered by date.

1. Correspondence inviting and/or thanking Sir Adrian for speaking at conferences or exchanging publications on corporate governance, 1994

Correspondence from King Committee on Corporate Governance (South Africa), National Convention for Corporate Directors in Zimbabwe, Toronto Stock Exchange, Arthur Andersen (National Association of Corporate Directors Conference) and DTI.

2. Publications on corporate governance and compliance with the Code of Best Practice

Includes work done for the sub committee on implementation of the Code of Best Practice.

3. Letter, 13 January 1994 from Virginia Bottomley and draft codes of conduct and accountability

This letter sets out main features of the codes and expect to be implemented on 1 April 1994.

4. Briefing for Sir Adrian Cadbury – informal press briefings, Thursday 17 February 1994

The document covers the number of copies distributed, other UK organisations and jurisdictions interested in the report, progress on monitoring the Code’s implementation, going concern and internal controls.

5. Committee on the Financial Aspects of Corporate Governance, press briefing, Thursday 17 February 1994

Contains list of attendees, Committee membership, (missing a letter regarding the role of the Committee) press cuttings, extracts from ICAS Working Party recommendations on internal control and examples of corporate governance statements.

6. Financial reporting and corporate governance ‘overload’, notes of a meeting held on 13 December 1993, at the Financial Reporting Council

The meeting arose from a CBI letter raising three points among which was the suggestion that accountants had gone further than the Cadbury Committee intended. Points covered included: internal control, going concern, and the proposed publication of a joint programme of ASB, APB, and English and Scottish accountancy institutes.

7. 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.

8. 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).

9. 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.

10. Fax, dated 3 April 1994, from G.G. Beale & Co

Seems from the fax there has been earlier correspondence. Beale speaks of plans to implement the Cadbury proposals.

11. Letter, dated 21 April 1994, from Sir Ron Dearing, chairman of Camelot

Seeks clarification about the number of independent non-executive directors.

12. Letter to Sir Adrian Cadbury from Gina Cole about companies’ compliance with the Code, 22 April 1994

Refers to compliance with the code by NatWest, Camelot, Rentokil. Relevant pages were not attached.

13. Letter, 28 April 1994, from Virginia Bottomley, Department of Health

Letter advises booklet which accompanies the letter, has been sent to NHS Chairmen.

14. Letter, dated 20 May 1994, from Paul Hague, Business & Market Research, and report of survey of non-executive directors

Summarises the findings of a survey of opinion about the role of non-executive directors in improving corporate governance.

15. 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.

16. Two letters from Gina Cole and correspondence from other parties forwarded by her, July, August 1994

Informs Sir Adrian of requests to speak, attend dinners or meetings in connection with the Code and seeking his comments on disclosure of directors stock options.

17. Various reprints and correspondence with Arthur Andersen and regarding comments on a University of Birmingham survey, September – November 1994

Some controversy over the Arthur Anderson summary.

18. Letter, 2 September 1994, from Paul Myners, Co-peration for the Long Term and survey questionnaire

Letter accompanies a four-part questionnaire that looks at the relationship between British industry and institutional shareholders.

19. 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.

20. Letter from Nigel Peace, DTI, 12 September 1994 about aspects of company law

Nigel gives the context to answer the query about two-tier boards which would be theoretically possible with directors having specified responsibilities.

21. 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.

22. Letter to Sydney Treadgold from Gina Cole about successor body, 18 October 1994, including paper on research and issues for a successor body

Includes full details of membership and sponsorship to date, in addition to listing issues for the successor body and the work of the sub-committee monitoring compliance.

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

Recounts a case history of auditing and proposes a solution.

24. 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.

25. Correspondence between Sir Sydney Lipworth and Sir Adrian Cadbury, November 1994 concerning successor body and including paper on successor body

Sir Adrian states wishes to retire as Chairman and discusses membership, sponsorship and possible issues for the successor body. Includes FRC(94)49.

26. Fax to Sir Adrian Cadbury from Gina [Cole], 3 November 1994

Preliminary to the meeting of the Financial Reporting Council which will discuss a successor body to the CFACG.

27. Paper entitled ‘Successor to the Cadbury Committee’ FRC(94)49 and covering letter 15 November 1994

The paper sets out possible terms of reference and the issues the successor body could address.

28. 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.

29. Publication of the results of the ABI survey into compliance with the Code, CFACG(94)6

The paper sets out the case for publication of the survey into compliance with the Code.

30. Companies with debt listings, 30 November 1994

The paper seeks to establish whether clarification or exemption is required on Paragraph 3.1 statement of compliance about debt-listed companies.

31. Arlen plc CFACG(94) 9

Arlen plc made a statement about compliance with the Code which auditors reported as inadequate. As a result it was requested that Sir Adrian Cadbury write to the institutional directors requesting they should contact the company. See press cutting file for 3-page extract.

32. 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.

33. 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.

34. 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.

35. Minutes of meeting 7/12 /94

Issues raised include expressing an opinion on the effectiveness of internal control systems, successor body and its remit.

36. 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.

37. Correspondence about an item in the Independent on Sunday, referring to the Cadbury report

The article should refer to draft proposals from the Working Group on Internal Control.