The document discusses the development of corporate governance codes over time. It outlines several key reports that shaped corporate governance best practices, including the Cadbury Report in 1992 which established board committees, the Greenbury Report in 1995 which addressed executive pay disclosure, and the Hampel Report in 1998 which reviewed implementation of earlier recommendations. Other reports mentioned that contributed to corporate governance standards include the Turnbull Report, Higgs Review, and OECD Principles of Corporate Governance. The document also discusses governance codes for banking organizations established by the Basel Committee in 1999 and revised principles issued in 2010.
The document discusses the development of corporate governance codes over time. It outlines several key reports that shaped corporate governance best practices, including the Cadbury Report in 1992 which established board committees, the Greenbury Report in 1995 which addressed executive pay disclosure, and the Hampel Report in 1998 which reviewed implementation of earlier recommendations. Other reports mentioned that contributed to corporate governance standards include the Turnbull Report, Higgs Review, and OECD Principles of Corporate Governance. The document also discusses governance codes for banking organizations established by the Basel Committee in 1999 and revised principles issued in 2010.
The document discusses the development of corporate governance codes over time. It outlines several key reports that shaped corporate governance best practices, including the Cadbury Report in 1992 which established board committees, the Greenbury Report in 1995 which addressed executive pay disclosure, and the Hampel Report in 1998 which reviewed implementation of earlier recommendations. Other reports mentioned that contributed to corporate governance standards include the Turnbull Report, Higgs Review, and OECD Principles of Corporate Governance. The document also discusses governance codes for banking organizations established by the Basel Committee in 1999 and revised principles issued in 2010.
Ans: The corporate governance codes have been driven by a financial scandal, corporate collapse or similar crisis. 2. What does legal background mean? Ans: Common law and civil law. 3. What does a cultural & political context mean? Ans: Democracy and communism. 4. What do you mean by business forms in CG practice? Ans: Public corporations compared to family-owned firms. 5. For what issues the CG codes has driven? Ans: The corporate governance codes has issued by a variety of bodies ranging from committees, through to stock exchange bodies, representative group and professional bodies. 6. Cadbury Report 1992, Chaired by Sir Adrian Cadbury , known as Cadbury report. 7. What is the main recommendation of Cadbury report? Ans: The main recommendation of Cadbury report include the establishment of key board committees with a nomination committees suggested as an appropriate way to ensure a transparent appointments process. 8. When did the Greenbury Report set out? Ans: In 1995 9. What was the main concern of Greenbury Report? Ans: The main concern of Greenbury report is about both the size of directors remuneration packages and their inconsistent and incomplete disclosure in companies annual reports. 10.What was the main purpose of the Greenbury Report? Ans: Disclosure of directors mremuneration packages. 11.The adoption of performance measures linking rewards to the performance of both the company and individual directors is discussed in Greenbury Report (1995) report. 12.When did the Hample Report set up? Ans: In 1995. 13.When the Hample report committee did reported their report? Ans: In 1998 14. Why did Hample report set up? Ans: To review the implementation of the Cadbury and Greenbury Committee recommendations. 15.The Hample report stated that the directors as a board are responsible for relations with stakeholders but they are accountable to shareholders. The involvement of institutional investors & their roles are discussed in Hampel Report (1998) 16.Who did chair the Turnbull Committee Report? Ans: Nigel Turnbull 17.Who established this committee? Ans: The institute of Chartered Accounts in England and Wales (ICAEW). 18.Which report of CG code does ensure the internal control system & its effectiveness? Ans: The Turnbull Report. 19.Who was chaired the Higgs Review? Ans: Derek Higgs. 20.The reporting period of Higgs Report is In January 2003. 21.The Higgs review discussed about the role and effectiveness of non-executive directors. 22.Non-executive directors should met as a group at least once a year without the presence of executive directors. 23.Board members should evaluate at least once a year according to Higgs Report. 24.I n which report the role of audit committee is discussed? Ans: Smith (2003) 25.Audit committee is appointed by--------------. Ans: appointed by the FRC 26.OECD refers to ---------------------- 27.When did OECD publish? Ans: The OECD published its Principles of Corporate Governance in 1999 28.What does OECD recognize? Ans: The OECD recognizes that ‘one size does not fit all’ 29.When did the OECD principles revise? Ans: The OECD Principles were reviewed and revised in 2004 30.What is the CG code for banking organization? Ans: 31.How many sound CG principles comprised in 2006 Basle committee issue? Ans: eight sound corporate governance principles. 32.The principle of the board’s overall responsibilities, board qualifications are discussed in------------------. Ans: The Basle Committee (1999) 33.Compensation committee identified ------ principles relating to the board. Ans: two Principles 34.Disclosure & transparency principles covers---------------------------------. Ans: the bank’s governance should be ‘adequately transparent to its shareholders, depositors, other relevant stakeholders and market participants’ 35.How many principles covered in Principles for enhancing CG Codes 2010? Ans: fourteen Principles 36.“The bank should govern in a transparent manner”-which principle includes this in Basel Committee guidance-2006? Ans: Principle 7 37.NGO refers to non-governmental organizations 38.Board diversity is discussed on Davies reports 39.Recruitment & development of non-executive directors is discussed on Tyson reports