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The Cadbury Report

The report ‘Financial Aspects of Corporate Governance Committee’ (usually known as the Cadbury Report) was published in December 1992 and contained a number of recommendations to raise standards in corporate governance. On this page you can access a selection of resources on the report.

The report

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.


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. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

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.

Articles and books in the ICAEW Library collection

Selected articles and books

Click on the links below to see our catalogue record and holdings for each item.

Stay in control: boards risk losing sight of committees
Governance and Compliance: the ICSA Magazine, January 2015, pages 26-27
The UK Corporate Governance Code, says the author, has evolved into a code on nomination, remuneration and audit committees, with some overarching principles applicable to the board as a whole. The Financial Reporting Council (FRC) needs to start a debate on how the non-executive role should evolve, says the author: the model envisaged by the Cadbury Committee is rapidly becoming obsolete.

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.

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 borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

See also

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