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The Cadbury Report

The Corporate Governance Committee was set up in May 1991 by the Financial Reporting Council, the Stock Exchange and the accountancy profession in response to continuing concern about standards of financial reporting and accountability.

What's on this page?

  • The report
  • Useful links
  • Online articles
  • eBooks
  • Books and articles from the Library

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Featured article

Board composition, corporate performance, and the Cadbury Committee recommendation
The authors investigate the changes in board membership and corporate performance for UK firms from 1989 to 1996, a period contemporary with the Cadbury Report which recommended that public firms have at least three outside directors.

You will need to be logged-in to the website to access the full range of articles available online.

Featured book

The Cadbury committee: a history
Spira, L.F. (Oxford University Press, 2013)
Explores the origins of the Committee, provides insights into the way in which it worked, and documents the reaction to the publication of the Committee's report.

To borrow this book please contact the Library or see our guide to book loans.

The report

The financial aspects of corporate governance 
The final report of the Committee on the Financial Aspects of Corporate Governance as published in December 1992.

The committee was chaired by Sir Adrian Cadbury and had a remit to review those aspects of corporate governance relating to financial reporting and accountability. The final report 'The financial aspects of corporate governance' (usually known as the Cadbury Report) was published in December 1992 and contained a number of recommendations to raise standards in corporate governance.

Useful links

The Cadbury Archive 
The Cadbury Archive at Cambridge Judge Business School is a collection of material from Sir Adrian Cadbury's time as chairman of the Committee on the Financial Aspects of Corporate Governance. The archive includes agendas, minutes and research relating to the committee's activities with a search tool to locate material of interest.

When is comply or explain the right approach? 
A December 2013 ICAEW report on promoting good corporate governance and the role of comply or explain as a means to that end. The Cadbury Code is widely seen as the first comply-or-explain governance code. ICAEW Chief Executive Michael Izza has published a blog post to highlight the launch of this report, 'Is 'comply or explain' fit for purpose?'.

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Creating better boards through codification: Possibilities and limitations in UK corporate governance, 1992–2010

An academic article analysing the three main versions of the UK code of corporate governance and looking back at the worldwide wave of official and semi-official codes that followed the Cadbury report.

Gender diversity in the FTSE 100: The business case claim explored

Academic article; tracks the corporate governance diversity story from the 1992 Cadbury Report to the 2011 Davies Report and investigates whether female board appointments enhance corporate profits.

Board composition, corporate performance, and the Cadbury Committee recommendation

The authors investigate the changes in board membership and corporate performance for UK firms from 1989 to 1996, a period contemporary with the Cadbury report.

An analysis of changes in board structure during corporate governance reforms

Using data over a time period following the publication of the Cadbury Report (1992), the authors present evidence of an increase in the independence of UK boards.

Corporate governance codes and the supply of corporate information

Article on how the introduction of the Cadbury, Greenbury and Hampel reports was accompanied by a significant increase in the number of news announcements by UK listed companies.

eBooks

The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users.

Corporate governance: a practical guide to the legal frameworks and international codes of practice

An introduction to governance for directors and executives.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Find more eBooks on corporate governance

Articles and books in the Library collection

Selected articles and books

Click on the links below to see our catalogue record and holdings for each item. Please contact us if you would like to borrow a book or request a copy of an article.

The Cadbury committee: a history 
Spira, L.F. (Oxford University Press, 2013) 
This book explores the origins of the Committee, provides insights into the way in which it worked, and documents the reaction to the publication of the Committee's report.

Fairy-tale fallout 
Practical Audit and Accounting, April 2012. pp.64-66. 
Discusses the impact that the sudden collapse of Polly Peck has had across the auditing landscape. It led to pressure to tighten regulation to restore investor confidence. The resulting Cadbury Report recommended separating the roles of chairman and chief executive; and using non-executive directors to form an audit committee to ensure auditor independence and take charge of the remuneration committee. 

Comply or explain: 20th anniversary of the UK Corporate Governance Code 
(FRC, 2012)
 A collection of essays published by the Financial Reporting Council to mark the 20th anniversary of the Cadbury Code, which introduced the UK's 'comply or explain' approach to best practice in the organisation of corporate boardrooms and their relations with shareholders. The collection draws on the experience of a wide range of individuals both here and overseas, reflecting the global impact of 'comply or explain' and its contribution to the UK's role as an international financial centre.

Find more articles and books

To find out how you can borrow books from the Library please see our guide to book loans.

You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

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