{"id":3723,"date":"2020-09-04T15:05:51","date_gmt":"2020-09-04T14:05:51","guid":{"rendered":"https:\/\/thefinancialeducation.co.uk\/?p=3723"},"modified":"2026-09-18T11:18:37","modified_gmt":"2026-09-18T10:18:37","slug":"507af-session-3","status":"publish","type":"post","link":"https:\/\/thefinancialeducation.co.uk\/index.php\/2020\/09\/04\/507af-session-3\/","title":{"rendered":"507AF: Session 4"},"content":{"rendered":"<style>.wp-block-kadence-advancedheading.kt-adv-heading3723_631c47-0a, .wp-block-kadence-advancedheading.kt-adv-heading3723_631c47-0a[data-kb-block=\"kb-adv-heading3723_631c47-0a\"]{font-weight:normal;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading3723_631c47-0a mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading3723_631c47-0a[data-kb-block=\"kb-adv-heading3723_631c47-0a\"] mark.kt-highlight{font-weight:normal;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading3723_631c47-0a img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading3723_631c47-0a[data-kb-block=\"kb-adv-heading3723_631c47-0a\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h2 class=\"kt-adv-heading3723_631c47-0a wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading3723_631c47-0a\"><strong>Cadbury, Greenbury and Hampel Reports<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n<div class=\"wp-block-ub-content-toggle wp-block-ub-content-toggle-block\" id=\"ub-content-toggle-block-e4273613-a0ee-4899-809e-e73fcdb87230\" data-mobilecollapse=\"false\" data-desktopcollapse=\"false\" data-preventcollapse=\"false\" data-showonlyone=\"true\">\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #ffab1f; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #ffab1f;\" aria-controls=\"ub-content-toggle-panel-0-e4273613-a0ee-4899-809e-e73fcdb87230\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-e4273613-a0ee-4899-809e-e73fcdb87230\" style=\"color: #000; \"><strong>Session Learning Outcomes<\/strong><\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap left\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-0-e4273613-a0ee-4899-809e-e73fcdb87230\">\n\n<p class=\"wp-block-paragraph\">After this session, you should be able to evaluate the followings reports: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cadbury Report<\/li>\n\n\n\n<li>Greenbury Report<\/li>\n\n\n\n<li>Hampel Report<\/li>\n<\/ul>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #ffab1f; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #ffab1f;\" aria-controls=\"ub-content-toggle-panel-1-e4273613-a0ee-4899-809e-e73fcdb87230\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-e4273613-a0ee-4899-809e-e73fcdb87230\" style=\"color: #000; \"><strong>Overview of Three Reports<\/strong><\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap left\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-1-e4273613-a0ee-4899-809e-e73fcdb87230\">\n\n<figure class=\"wp-block-image size-large\"><img data-opt-id=1398264455  fetchpriority=\"high\" decoding=\"async\" width=\"694\" height=\"446\" src=\"https:\/\/mlunj1lkadsx.i.optimole.com\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/thefinancialeducation.co.uk\/wp-content\/uploads\/2020\/09\/image.png\" alt=\"\" class=\"wp-image-3731\" srcset=\"https:\/\/mlunj1lkadsx.i.optimole.com\/w:694\/h:446\/q:mauto\/f:best\/https:\/\/thefinancialeducation.co.uk\/wp-content\/uploads\/2020\/09\/image.png 694w, https:\/\/mlunj1lkadsx.i.optimole.com\/w:300\/h:193\/q:mauto\/f:best\/https:\/\/thefinancialeducation.co.uk\/wp-content\/uploads\/2020\/09\/image.png 300w, https:\/\/mlunj1lkadsx.i.optimole.com\/w:360\/h:231\/q:mauto\/f:best\/https:\/\/thefinancialeducation.co.uk\/wp-content\/uploads\/2020\/09\/image.png 360w\" sizes=\"(max-width: 694px) 100vw, 694px\" \/><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/kfknowledgebank.kaplan.co.uk\/acca\/chapter-2-development-of-corporate-governance\">The focus of three reports<\/a> (Kaplan.co.uk)<\/figcaption><\/figure>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #ffab1f; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #ffab1f;\" aria-controls=\"ub-content-toggle-panel-2-e4273613-a0ee-4899-809e-e73fcdb87230\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-e4273613-a0ee-4899-809e-e73fcdb87230\" style=\"color: #000; \"><strong>Cadbury Report<\/strong><\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap left\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-2-e4273613-a0ee-4899-809e-e73fcdb87230\">\n<div class=\"wp-block-ub-tabbed-content wp-block-ub-tabbed-content-holder wp-block-ub-tabbed-content-horizontal-holder-mobile wp-block-ub-tabbed-content-horizontal-holder-tablet\" id=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3\" style=\"\">\n\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-holder horizontal-tab-width-mobile horizontal-tab-width-tablet\">\n\t\t\t\t<div role=\"tablist\" class=\"wp-block-ub-tabbed-content-tabs-title wp-block-ub-tabbed-content-tabs-title-mobile-horizontal-tab wp-block-ub-tabbed-content-tabs-title-tablet-horizontal-tab\" style=\"justify-content: flex-start; \"><div role=\"tab\" id=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-tab-0\" aria-controls=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-panel-0\" aria-selected=\"true\" class=\"wp-block-ub-tabbed-content-tab-title-wrap active\" style=\"--ub-tabbed-title-background-color: #eeeeee; --ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #eeeeee; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Intro<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-tab-1\" aria-controls=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-panel-1\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #eeeeee; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Activity 1<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-tab-2\" aria-controls=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-panel-2\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #eeeeee; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">4 Main Sections<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-tab-3\" aria-controls=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-panel-3\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #eeeeee; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Recommendations<\/div>\n\t\t\t<\/div><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"wp-block-ub-tabbed-content-tabs-content\" style=\"\"><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-panel-0\" aria-labelledby=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-tab-0\" tabindex=\"0\">\n\n<ul class=\"wp-block-list\">\n<li>Published in December 1992. <\/li>\n\n\n\n<li>Committee was chaired by <a href=\"http:\/\/cadbury.cjbs.archios.info\/report\">Sir Adrian Cadbury<\/a>. <\/li>\n\n\n\n<li>Sir Adrian Cadbury was told to review aspects of <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr> governance relating to financial reporting and accountability. <\/li>\n\n\n\n<li>His report contained a number of recommendations. Many of which, still apply today.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-panel-1\" aria-labelledby=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-tab-1\" tabindex=\"0\">\n\n<p class=\"wp-block-paragraph\">Share your understanding of Cadbury Report<\/p>\n\n\n<div class=\"padlet-embed\" style=\"border:1px solid rgba(0,0,0,0.1);border-radius:2px;box-sizing:border-box;overflow:hidden;position:relative;width:100%;background:#F4F4F4\">\n<p style=\"padding:0;margin:0\"><iframe src=\"https:\/\/coventryunionline.padlet.org\/embed\/94utm3ncvl78l0ky\" frameborder=\"0\" allow=\"camera;microphone;geolocation\" style=\"width:100%;height:608px;display:block;padding:0;margin:0\"><\/iframe><\/p>\n<div style=\"padding:8px;text-align:right;margin:0;\"><a href=\"https:\/\/padlet.com?ref=embed\" style=\"padding:0;margin:0;border:none;display:block;line-height:1;height:16px\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-opt-id=1309937187  fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/padlet.net\/embeds\/made_with_padlet.png\" width=\"86\" height=\"16\" style=\"padding:0;margin:0;background:none;border:none;display:inline;box-shadow:none\" alt=\"Made with Padlet\"><\/a><\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap active\" id=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-panel-2\" aria-labelledby=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-tab-2\" tabindex=\"0\">\n\n<p class=\"wp-block-paragraph\">The recommendations were split into four main sections: <\/p>\n\n\n<div class=\"wp-block-ub-tabbed-content wp-block-ub-tabbed-content-holder wp-block-ub-tabbed-content-horizontal-holder-mobile wp-block-ub-tabbed-content-horizontal-holder-tablet\" id=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59\" style=\"\">\n\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-holder horizontal-tab-width-mobile horizontal-tab-width-tablet\">\n\t\t\t\t<div role=\"tablist\" class=\"wp-block-ub-tabbed-content-tabs-title wp-block-ub-tabbed-content-tabs-title-mobile-horizontal-tab wp-block-ub-tabbed-content-tabs-title-tablet-horizontal-tab\" style=\"justify-content: flex-start; \"><div role=\"tab\" id=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-tab-0\" aria-controls=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-panel-0\" aria-selected=\"true\" class=\"wp-block-ub-tabbed-content-tab-title-wrap active\" style=\"--ub-tabbed-title-background-color: #ff6900; --ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Role &amp; duties of board of directors &amp; its compositions<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-tab-1\" aria-controls=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-panel-1\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Role of Non- Executive Directors<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-tab-2\" aria-controls=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-panel-2\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Dealing with remunerations<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-tab-3\" aria-controls=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-panel-3\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Addressing questions of financial report and controls<\/div>\n\t\t\t<\/div><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"wp-block-ub-tabbed-content-tabs-content\" style=\"\"><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap active\" id=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-panel-0\" aria-labelledby=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-tab-0\" tabindex=\"0\">\n\n<p class=\"wp-block-paragraph\"><strong>The Cadbury report recommend the following:<\/strong> <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The board should meet regularly, retain full and effective control over the company and monitor the executive management. <\/li>\n\n\n\n<li>The board should include non- executive directors of sufficient <abbr class=\"c2c-text-hover\" title=\"the quality, ability, or standard of a person or thing,\">calibre<\/abbr> and number for their views to carry significant weight in the board\u2019s decisions.<\/li>\n\n\n\n<li>All directors should have access to the advice and services of the company secretary, which is responsible to the board of directors for ensuring that procedures and regulations are followed. <\/li>\n\n\n\n<li>Any matters relating to the removal of the company secretary should be a matter for the board as a whole<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read more:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/uk.finance.yahoo.com\/news\/10-big-corporate-scandals-2018-184157192.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAEXXwaf_km--lmGj5Nr34cTGTdUmNUvIMNr-xu_PzY-Js5PrX8_ARZ20Vwd7OqyN0mxzkMvgtxVqrjVAoRW6OETDsyQ-MgNVXl-_jsgo50fbAUEE-JOq3PYUq2nsbqsDf6m2pA2eQzHSozzOkOmMx0xOBM4sb4w10-mZUzjt4ydM\">10 big <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr> scandals of 2018<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Professor Simon Deakin on the effect of the Cadbury Code on boards and stockmarkets\" width=\"847\" height=\"476\" src=\"https:\/\/www.youtube.com\/embed\/7QYiuX7ihuw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Sir Adrian Cadbury reflects on properly constituted audit committees and boardroom self-evaluation\" width=\"847\" height=\"476\" src=\"https:\/\/www.youtube.com\/embed\/ZfC7ykLKy4M?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><figcaption class=\"wp-element-caption\">Sir Adrian Cadbury<\/figcaption><\/figure>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-panel-1\" aria-labelledby=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-tab-1\" tabindex=\"0\">\n\n<p class=\"wp-block-paragraph\"><strong>The Cadbury report recommend the following:<\/strong> <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>NEDs should bring an independent judgement for strategic, performance, resources including key appointments. <\/li>\n\n\n\n<li>NEDs directors should be appointed for specified terms and appointment should not be automatic. <\/li>\n\n\n\n<li>NEDs should be selected though a formal process. <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/ethicalboardroom.com\/time-to-abolish-non-executive-directors\/\"><\/a><a href=\"https:\/\/files.simmons-simmons.com\/api\/get-asset\/EB_Autumn2018_CharlesMayo_Singles.pdf?id=blte26439a8015af04a\">EB_Autumn2018_CharlesMayo_Singles.pdf<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Case study:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.campaignlive.co.uk\/article\/lord-saatchi-non-executive-directors-resign-m-c-saatchi-board-amid-scandal\/1668396\"><strong>Lord Saatchi, non-executive directors resign from M&amp;C Saatchi board amid scandal<\/strong> <strong>(2019)<\/strong><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">M&amp;C Saatchi\u2019s board has announced the immediate resignation of Non-Executive Directors Lord Dobbs, Sir Michael Peat and Lorna Tilbian, as well as Executive Director Lord Saatchi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The departures follow on the heels of M&amp;C Saatchi\u2019s U.K. arm grappling with an <abbr class=\"c2c-text-hover\" title=\"The process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information.Accounting cycle (Chapter 12): The sequence in which data is recorded and processed until it becomes part of the financial statements at the end of the period.Accounting policies (Chapter 41): Those principles, bases, conventions, rules and practices applied by an entity that specify how the effects of transactions and other events are to be reflected in its financial statements.Accounts (or final accounts) (Chapter 16): This is a term previously used to refer to statements produced at the end of accounting periods, such as the income statement and the balance sheet. Nowadays, the term \u2018financial statements\u2019 is more commonly used.\">accounting<\/abbr> scandal that led to an adjustment of \u00a311.6m ($15.3 million) to its results.<\/p>\n\n\n\n<figure class=\"wp-block-image is-style-rounded\"><img data-opt-id=1555929364  fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/cached.imagescaler.hbpl.co.uk\/resize\/scaleWidth\/743\/cached.offlinehbpl.hbpl.co.uk\/news\/SUC\/saatchi1-20191210091156691.jpg\" alt=\"Lord Saatchi, non-executive directors resign from M&amp;C Saatchi board amid scandal\"><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read more:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The Role of the Non-Executive Director: Making <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance Work<\/strong>: <a href=\"https:\/\/www.cimaglobal.com\/Documents\/ImportedDocuments\/NEDSmakingcorpgovwork_techguide_2003.pdf\">https:\/\/www.cimaglobal.com\/Documents\/ImportedDocuments\/NEDSmakingcorpgovwork_techguide_2003.pdf<\/a><\/p>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-panel-2\" aria-labelledby=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-tab-2\" tabindex=\"0\">\n\n<p class=\"wp-block-paragraph\"><strong>The Cadbury report recommend the following:<\/strong> <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Service contracts should not exceed three years without shareholders approval and that the Companies Act should be in line with this recommendation.<\/li>\n\n\n\n<li>Shareholders require that the <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr> of directors should be fair and competitive. <\/li>\n\n\n\n<li>Annual General Meetings provide the opportunity for shareholders to make their views.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Case Studies<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.independent.co.uk\/news\/business\/comment\/executive-pay-ceo-pay-scandals-business-energy-industrial-strategy-committee-persimmon-homes-fatcats-a8840321.html\">\u2022 Persimmon Homes paying its CEO a \u00a3100m bonus, later reduced.\u00a0<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2022 <a href=\"https:\/\/www.theguardian.com\/business\/2018\/jan\/15\/carillion-highly-inappropriate-pay-packets-criticised\">The now-collapsed construction giant\u00a0Carillion<\/a>: Richard Howson, Carillion\u2019s former chief executive from 2012 earned \u00a31.5m in 2016, including \u00a3591,000 in bonuses. He continued to work for the firm until last autumn after stepping down as chief executive and is due to stay on the payroll, receiving his \u00a3660,000 salary and \u00a328,000 benefits for another year, until October 2018.<\/p>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-panel-3\" aria-labelledby=\"ub-tabbed-content-bd782ddd-ffcf-4732-95f2-cf9ce5467c59-tab-3\" tabindex=\"0\">\n\n<p class=\"wp-block-paragraph\"><strong>The Cadbury report recommend the following:<\/strong> <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It is the board\u2019s duty to present a balanced and understandable assessment of the company\u2019s position. <\/li>\n\n\n\n<li>The board should ensure that an objective and professional relationship is maintained with auditors. <\/li>\n\n\n\n<li>The board should establish an audit committee of at least 3 NEDs<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Case study:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.theguardian.com\/business\/2017\/mar\/28\/tesco-agrees-fine-serious-fraud-office-accounting-scandal\">Tesco is to pay out \u00a3235m <\/a>to settle investigations by the Serious Fraud Office and Financial <abbr class=\"c2c-text-hover\" title=\"to organise and perform a particular activity.\">Conduct<\/abbr> Authority into the 2014 <abbr class=\"c2c-text-hover\" title=\"The process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information.Accounting cycle (Chapter 12): The sequence in which data is recorded and processed until it becomes part of the financial statements at the end of the period.Accounting policies (Chapter 41): Those principles, bases, conventions, rules and practices applied by an entity that specify how the effects of transactions and other events are to be reflected in its financial statements.Accounts (or final accounts) (Chapter 16): This is a term previously used to refer to statements produced at the end of accounting periods, such as the income statement and the balance sheet. Nowadays, the term \u2018financial statements\u2019 is more commonly used.\">accounting<\/abbr> scandal<\/p>\n\n<\/div><\/div>\n\t\t<\/div>\n\n\n<p class=\"wp-block-paragraph\"><strong>Read the report here<\/strong>: <a href=\"https:\/\/ecgi.global\/sites\/default\/files\/\/codes\/documents\/cadbury.pdf\">https:\/\/ecgi.global\/sites\/default\/files\/\/codes\/documents\/cadbury.pdf<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-panel-3\" aria-labelledby=\"ub-tabbed-content-41d13101-547f-498b-8b2d-bc56a6c4d4d3-tab-3\" tabindex=\"0\">\n\n<ul class=\"wp-block-list\">\n<li>A single person should not be vested with the decision- making power. <\/li>\n\n\n\n<li>The roles of the CEO and Chairman should be separated. <\/li>\n\n\n\n<li>The majority of directors should be independent NEDs. They should have no financial interests in the company.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n<\/div><\/div>\n\t\t<\/div>\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #ffab1f; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #ffab1f;\" aria-controls=\"ub-content-toggle-panel-3-e4273613-a0ee-4899-809e-e73fcdb87230\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-e4273613-a0ee-4899-809e-e73fcdb87230\" style=\"color: #000; \"><strong>Greenbury Report<\/strong><\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap left\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-3-e4273613-a0ee-4899-809e-e73fcdb87230\">\n<div class=\"wp-block-ub-tabbed-content wp-block-ub-tabbed-content-holder wp-block-ub-tabbed-content-horizontal-holder-mobile wp-block-ub-tabbed-content-horizontal-holder-tablet\" id=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf\" style=\"\">\n\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-holder horizontal-tab-width-mobile horizontal-tab-width-tablet\">\n\t\t\t\t<div role=\"tablist\" class=\"wp-block-ub-tabbed-content-tabs-title wp-block-ub-tabbed-content-tabs-title-mobile-horizontal-tab wp-block-ub-tabbed-content-tabs-title-tablet-horizontal-tab\" style=\"justify-content: flex-start; \"><div role=\"tab\" id=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-tab-0\" aria-controls=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-panel-0\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Intro<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-tab-1\" aria-controls=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-panel-1\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Activity 2<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-tab-2\" aria-controls=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-panel-2\" aria-selected=\"true\" class=\"wp-block-ub-tabbed-content-tab-title-wrap active\" style=\"--ub-tabbed-title-background-color: #ff6900; --ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Recommendations<\/div>\n\t\t\t<\/div><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"wp-block-ub-tabbed-content-tabs-content\" style=\"\"><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-panel-0\" aria-labelledby=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-tab-0\" tabindex=\"0\">\n\n<ul id=\"block-d22b8698-e104-4d6f-974a-2dafafd08c05\" class=\"wp-block-list\">\n<li>Set up in January 1995.<\/li>\n\n\n\n<li>This <a href=\"https:\/\/ecgi.global\/sites\/default\/files\/codes\/documents\/greenbury.pdf\">Greenbury<\/a> committee was led by Sir Richard Greenbury.<\/li>\n\n\n\n<li>The objective of the committee was to identify good practice in determining director\u2019s <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr>.<\/li>\n<\/ul>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-panel-1\" aria-labelledby=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-tab-1\" tabindex=\"0\">\n\n<p class=\"wp-block-paragraph\">Share your understanding of Greenbury Report<\/p>\n\n\n<div class=\"padlet-embed\" style=\"border:1px solid rgba(0,0,0,0.1);border-radius:2px;box-sizing:border-box;overflow:hidden;position:relative;width:100%;background:#F4F4F4\">\n<p style=\"padding:0;margin:0\"><iframe src=\"https:\/\/coventryunionline.padlet.org\/embed\/94utm3ncvl78l0ky\" frameborder=\"0\" allow=\"camera;microphone;geolocation\" style=\"width:100%;height:608px;display:block;padding:0;margin:0\"><\/iframe><\/p>\n<div style=\"padding:8px;text-align:right;margin:0;\"><a href=\"https:\/\/padlet.com?ref=embed\" style=\"padding:0;margin:0;border:none;display:block;line-height:1;height:16px\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-opt-id=1309937187  fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/padlet.net\/embeds\/made_with_padlet.png\" width=\"86\" height=\"16\" style=\"padding:0;margin:0;background:none;border:none;display:inline;box-shadow:none\" alt=\"Made with Padlet\"><\/a><\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap active\" id=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-panel-2\" aria-labelledby=\"ub-tabbed-content-ca5609d4-b2d9-450f-b7d0-f8880c7a6edf-tab-2\" tabindex=\"0\">\n<div class=\"wp-block-ub-tabbed-content wp-block-ub-tabbed-content-holder wp-block-ub-tabbed-content-horizontal-holder-mobile wp-block-ub-tabbed-content-horizontal-holder-tablet\" id=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b\" style=\"\">\n\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-holder horizontal-tab-width-mobile horizontal-tab-width-tablet\">\n\t\t\t\t<div role=\"tablist\" class=\"wp-block-ub-tabbed-content-tabs-title wp-block-ub-tabbed-content-tabs-title-mobile-horizontal-tab wp-block-ub-tabbed-content-tabs-title-tablet-horizontal-tab\" style=\"justify-content: flex-start; \"><div role=\"tab\" id=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-tab-0\" aria-controls=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-panel-0\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Overview<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-tab-1\" aria-controls=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-panel-1\" aria-selected=\"true\" class=\"wp-block-ub-tabbed-content-tab-title-wrap active\" style=\"--ub-tabbed-title-background-color: #ff6900; --ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Remuneration  Committee<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-tab-2\" aria-controls=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-panel-2\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Disclosure &amp; Approval Provision<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-tab-3\" aria-controls=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-panel-3\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Remuneration  Policy<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-tab-4\" aria-controls=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-panel-4\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Service contracts &amp; Compensations<\/div>\n\t\t\t<\/div><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"wp-block-ub-tabbed-content-tabs-content\" style=\"\"><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap active\" id=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-panel-0\" aria-labelledby=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-tab-0\" tabindex=\"0\">\n\n<ul class=\"wp-block-list\">\n<li><strong>Listed companies should establish a <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">Remuneration<\/abbr> Committee<\/strong><br>\u2192 Independent directors should determine executive pay to avoid conflicts of interest.<\/li>\n\n\n\n<li><strong>Clear <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr> policies should be in place<\/strong><br>\u2192 Executive rewards should be linked to performance and company objectives.<\/li>\n\n\n\n<li><strong>Pay arrangements should be disclosed and approved<\/strong><br>\u2192 Shareholders should receive clear information about executive <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr> and have a say on key decisions.<\/li>\n\n\n\n<li><strong>Service contracts and compensation arrangements should be formalised<\/strong><br>\u2192 Employment terms, notice periods, and severance payments should be clearly defined and transparent.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Overall Aim:<\/strong> Ensure executive <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr> is <strong>fair, transparent, and accountable to shareholders<\/strong>.<\/p>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-panel-1\" aria-labelledby=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-tab-1\" tabindex=\"0\">\n\n<ul id=\"block-c21afc1c-310e-43bf-8f59-cc9f9500bf9f\" class=\"wp-block-list\">\n<li>Set <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr> committee of NEDs<\/li>\n\n\n\n<li>Articles of association should be amended<\/li>\n\n\n\n<li>NEDs should have no personal financial interest in the company.<\/li>\n\n\n\n<li>The board should determine the <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr> of NEDs.<\/li>\n\n\n\n<li>Chairman should attend the Annual General Meetings (AGM)<\/li>\n<\/ul>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-panel-2\" aria-labelledby=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-tab-2\" tabindex=\"0\">\n\n<ul class=\"wp-block-list\">\n<li>The <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">Remuneration<\/abbr> Committee should publish an annual report<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u2192 Explains how executive pay decisions were made and promotes transparency.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The report should explain the company&#8217;s <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr> policy<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u2192 Includes performance criteria and measurement, pension provision, contracts of service, and compensation for early termination.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The report should disclose each executive&#8217;s <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr> package<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u2192 Provides details of salary, bonuses, share options, pensions, and other benefits for individual directors.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Overall Aim: Improve transparency, accountability, and shareholder confidence in executive <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr>.\u200b\u200c<\/li>\n<\/ul>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-panel-3\" aria-labelledby=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-tab-3\" tabindex=\"0\">\n\n<ul id=\"block-be21e6d9-d099-40f4-a450-4fd461afa824\" class=\"wp-block-list\">\n<li><strong><abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">Remuneration<\/abbr> committees should determine executive pay packages<\/strong><br>\u2192 Independent directors should decide salaries, bonuses and benefits to avoid conflicts of interest.<\/li>\n\n\n\n<li><strong><abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">Remuneration<\/abbr> committees should be sensitive<\/strong><br>\u2192 Pay decisions should reflect company performance, employee pay levels and shareholder expectations.<\/li>\n\n\n\n<li><strong>Executive share options should not be issued at a discount<\/strong><br>\u2192 Executives should buy shares at the market price, ensuring rewards depend on improving company performance.<\/li>\n\n\n\n<li><strong>Overall Aim:<\/strong> Ensure executive <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr> is <strong>fair, transparent and linked to performance<\/strong>.<\/li>\n<\/ul>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-panel-4\" aria-labelledby=\"ub-tabbed-content-1d74b51d-3c88-4977-8972-44b8f2bfef7b-tab-4\" tabindex=\"0\">\n\n<ul class=\"wp-block-list\">\n<li><strong>Review compensation commitments carefully<\/strong><br>\u2192 Ensure severance payments are reasonable and do not reward poor performance.<\/li>\n\n\n\n<li><strong>Apply flexibility when determining rewards<\/strong><br>\u2192 Consider company performance and circumstances rather than following rigid pay arrangements.<\/li>\n\n\n\n<li><strong>Link rewards to long-term performance<\/strong><br>\u2192 Bonuses and incentives may be deferred to encourage sustainable success.<\/li>\n\n\n\n<li><strong>Reduce contract periods after the initial appointment<\/strong><br>\u2192 New directors may receive longer contracts initially, but notice periods should later be reduced (ideally to one year or less).\n<ul class=\"wp-block-list\">\n<li><strong>Initial period<\/strong>: When a director first joins a company, it\u2019s reasonable to offer them a slightly longer contract or notice period (e.g., 2 years), as a form of security.<\/li>\n\n\n\n<li><strong>Reduced afterwards<\/strong>: After that initial period, the Greenbury Report recommended shortening these periods\u2014ideally to <strong>one year or less<\/strong>. <\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Take a robust approach to compensation payments<\/strong><br>\u2192 Avoid excessive &#8220;<abbr class=\"c2c-text-hover\" title=\"a large payment made to someone who has an important job with a company when that person is forced to leave their job.\">golden parachutes<\/abbr>&#8221; when directors leave the company.<\/li>\n\n\n\n<li><strong>Compensation should be fair and justifiable<\/strong><br>\u2192 Early termination payments should reflect contractual obligations and actual performance.<\/li>\n\n\n\n<li><strong>Avoid rewarding failure<\/strong><br>\u2192 Poorly performing executives should not receive generous departure packages.<\/li>\n\n\n\n<li><strong>Overall Aim:<\/strong> Ensure executive contracts, rewards, and compensation are <strong>fair, performance-related, and aligned with shareholders&#8217; interests<\/strong>.<\/li>\n<\/ul>\n\n<\/div><\/div>\n\t\t<\/div>\n<\/div><\/div>\n\t\t<\/div>\n\n\n<p class=\"wp-block-paragraph\"><strong>Read the report here<\/strong>:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/ecgi.global\/sites\/default\/files\/\/codes\/documents\/greenbury.pdf\">https:\/\/ecgi.global\/sites\/default\/files\/\/codes\/documents\/greenbury.pdf<\/a><\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #ffab1f; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #ffab1f;\" aria-controls=\"ub-content-toggle-panel-4-e4273613-a0ee-4899-809e-e73fcdb87230\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-e4273613-a0ee-4899-809e-e73fcdb87230\" style=\"color: #000; \"><strong>Hampel Report<\/strong><\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap left\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-4-e4273613-a0ee-4899-809e-e73fcdb87230\">\n<div class=\"wp-block-ub-tabbed-content wp-block-ub-tabbed-content-holder wp-block-ub-tabbed-content-horizontal-holder-mobile wp-block-ub-tabbed-content-horizontal-holder-tablet\" id=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd\" style=\"\">\n\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-holder horizontal-tab-width-mobile horizontal-tab-width-tablet\">\n\t\t\t\t<div role=\"tablist\" class=\"wp-block-ub-tabbed-content-tabs-title wp-block-ub-tabbed-content-tabs-title-mobile-horizontal-tab wp-block-ub-tabbed-content-tabs-title-tablet-horizontal-tab\" style=\"justify-content: flex-start; \"><div role=\"tab\" id=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-tab-0\" aria-controls=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-panel-0\" aria-selected=\"true\" class=\"wp-block-ub-tabbed-content-tab-title-wrap active\" style=\"--ub-tabbed-title-background-color: #ff6900; --ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Intro<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-tab-1\" aria-controls=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-panel-1\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Activity 4<\/div>\n\t\t\t<\/div><div role=\"tab\" id=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-tab-2\" aria-controls=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-panel-2\" aria-selected=\"false\" class=\"wp-block-ub-tabbed-content-tab-title-wrap\" style=\"--ub-tabbed-active-title-color: inherit; --ub-tabbed-active-title-background-color: #ff6900; text-align: left; \" tabindex=\"-1\">\n\t\t\t\t<div class=\"wp-block-ub-tabbed-content-tab-title\">Recommendations<\/div>\n\t\t\t<\/div><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"wp-block-ub-tabbed-content-tabs-content\" style=\"\"><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-panel-0\" aria-labelledby=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-tab-0\" tabindex=\"0\">\n\n<ul class=\"wp-block-list\">\n<li>The Committee on <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance (the Hampel Committee) was established in November 1995 to review the Cadbury Committee&#8217;s recommendations on <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr> governance. <\/li>\n\n\n\n<li><a href=\"https:\/\/ecgi.global\/sites\/default\/files\/codes\/documents\/hampel.pdf\">The Hampel Committee <\/a>released a preliminary report in August 1997, followed by a final report in January 1998. <\/li>\n\n\n\n<li>It relied on broad principles and a &#8216;common sense&#8217; approach, which was necessary to apply to different situations, rather than Cadbury and Greenbury&#8217;s perceived &#8216;box-ticking&#8217; approach<\/li>\n\n\n\n<li><abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance is an ongoing process and should evolve based on principles and values.\n<ul class=\"wp-block-list\">\n<li>There should be no box ticking rules (e.g. yes\/ no questions).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>All directors should be up for elections for at\u00a0 least every three years and NEDs should make up at least 1\/3. <\/li>\n\n\n\n<li>Separation of chairman and CEO posts preferred.<\/li>\n<\/ul>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap ub-hide\" id=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-panel-1\" aria-labelledby=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-tab-1\" tabindex=\"0\">\n\n<p class=\"wp-block-paragraph\">Share your understanding of Hampel Report<\/p>\n\n\n<div class=\"padlet-embed\" style=\"border:1px solid rgba(0,0,0,0.1);border-radius:2px;box-sizing:border-box;overflow:hidden;position:relative;width:100%;background:#F4F4F4\">\n<p style=\"padding:0;margin:0\"><iframe src=\"https:\/\/coventryunionline.padlet.org\/embed\/94utm3ncvl78l0ky\" frameborder=\"0\" allow=\"camera;microphone;geolocation\" style=\"width:100%;height:608px;display:block;padding:0;margin:0\"><\/iframe><\/p>\n<div style=\"padding:8px;text-align:right;margin:0;\"><a href=\"https:\/\/padlet.com?ref=embed\" style=\"padding:0;margin:0;border:none;display:block;line-height:1;height:16px\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-opt-id=1309937187  fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/padlet.net\/embeds\/made_with_padlet.png\" width=\"86\" height=\"16\" style=\"padding:0;margin:0;background:none;border:none;display:inline;box-shadow:none\" alt=\"Made with Padlet\"><\/a><\/div>\n<\/div>\n\n<\/div><div role=\"tabpanel\" class=\"wp-block-ub-tabbed-content-tab-content-wrap active\" id=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-panel-2\" aria-labelledby=\"ub-tabbed-content-66c2acec-c722-4066-9523-0161451517dd-tab-2\" tabindex=\"0\">\n\n<ul class=\"wp-block-list\">\n<li><strong>Promote the AGM as a forum for shareholder engagement<\/strong><br>\u2192 Encourage shareholders to attend, ask questions, and hold the board accountable.<\/li>\n\n\n\n<li><strong>Count proxy votes before votes at the AGM<\/strong><br>\u2192 Ensure shareholders who cannot attend still have their votes included and represented.<\/li>\n\n\n\n<li><strong>Overall Aim:<\/strong> Strengthen <strong>shareholder involvement, transparency, and board accountability<\/strong>.<\/li>\n<\/ul>\n\n<\/div><\/div>\n\t\t<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read the report here<\/strong>:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/ecgi.global\/sites\/default\/files\/codes\/documents\/hampel.pdf\">https:\/\/ecgi.global\/sites\/default\/files\/codes\/documents\/hampel.pdf<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.frc.org.uk\/library\/standards-codes-policy\/corporate-governance\/corporate-governance-overview\/#:~:text=The%20Hampel%20Report%20aimed%20to,'box%2Dticking'%20approach.\">https:\/\/www.frc.org.uk\/library\/standards-codes-policy\/<abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr>-governance\/<abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr>-governance-overview\/#:~:text=The%20Hampel%20Report%20aimed%20to,&#8217;box%2Dticking&#8217;%20approach.<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #ffab1f; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #ffab1f;\" aria-controls=\"ub-content-toggle-panel-5-e4273613-a0ee-4899-809e-e73fcdb87230\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-e4273613-a0ee-4899-809e-e73fcdb87230\" style=\"color: #000; \"><strong>Summary<\/strong><\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap left\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-5-e4273613-a0ee-4899-809e-e73fcdb87230\">\n\n<figure class=\"wp-block-image size-large\"><img data-opt-id=206849894  data-opt-src=\"https:\/\/mlunj1lkadsx.i.optimole.com\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/thefinancialeducation.co.uk\/wp-content\/uploads\/2020\/09\/image-1.png\"  decoding=\"async\" width=\"920\" height=\"545\" src=\"data:image/svg+xml,%3Csvg%20viewBox%3D%220%200%20100%%20100%%22%20width%3D%22100%%22%20height%3D%22100%%22%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%3E%3Crect%20width%3D%22100%%22%20height%3D%22100%%22%20fill%3D%22transparent%22%2F%3E%3C%2Fsvg%3E\" alt=\"\" class=\"wp-image-3808\" old-srcset=\"https:\/\/mlunj1lkadsx.i.optimole.com\/w:920\/h:545\/q:mauto\/f:best\/https:\/\/thefinancialeducation.co.uk\/wp-content\/uploads\/2020\/09\/image-1.png 920w, https:\/\/mlunj1lkadsx.i.optimole.com\/w:300\/h:178\/q:mauto\/f:best\/https:\/\/thefinancialeducation.co.uk\/wp-content\/uploads\/2020\/09\/image-1.png 300w, https:\/\/mlunj1lkadsx.i.optimole.com\/w:768\/h:455\/q:mauto\/f:best\/https:\/\/thefinancialeducation.co.uk\/wp-content\/uploads\/2020\/09\/image-1.png 768w, https:\/\/mlunj1lkadsx.i.optimole.com\/w:360\/h:213\/q:mauto\/f:best\/https:\/\/thefinancialeducation.co.uk\/wp-content\/uploads\/2020\/09\/image-1.png 360w\" \/><figcaption class=\"wp-element-caption\">3 Reports<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #ffab1f; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #ffab1f;\" aria-controls=\"ub-content-toggle-panel-6-e4273613-a0ee-4899-809e-e73fcdb87230\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-e4273613-a0ee-4899-809e-e73fcdb87230\" style=\"color: #000; \"><strong>History of the Corporate Governance Code &amp; Next Session<\/strong><\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap left\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-6-e4273613-a0ee-4899-809e-e73fcdb87230\">\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline Cool-Content-Timeline\"><div class=\"cool-timeline-block-b8e5bead-f79c-49b0-bd84-f729c271356b\"><div class=\"cool-vertical-timeline-body ctlb-wrapper both-sided left\"><div class=\"cool-timeline-block-list\">\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>1992<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">Cadbury Report<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">&#8211; The Committee on the Financial Aspects of <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance, chaired by Sir Adrian Cadbury, developed a set of principles of good <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr> governance. <br><br>&#8211; These principles were incorporated into the London Stock Exchange&#8217;s Listing Rules and introduced the principle of &#8216;comply or explain&#8217;.<br><br>&#8211; The Cadbury Code was the first <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance Code in the world. The recommendations focused on the control and reporting functions of boards, and the role of auditors.<br><br><a href=\"https:\/\/www.frc.org.uk\/documents\/5943\/Cadbury_Code_-_The_Financial_Aspects_of_Corporate_Governance.pdf\">Cadbury Report (1992)<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>1995<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">Greenbury Report<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">&#8211; The Greenbury Report was published in response to public and shareholder concerns about Directors&#8217; <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr>.<br><br>&#8211; The Report was published by the Study Group on Directors&#8217; <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr> under the chairmanship of Sir Richard Greenbury. <br><br>&#8211; It included Principles of best practice, which encouraged greater visibility of <abbr class=\"c2c-text-hover\" title=\"payment for work or services.\">remuneration<\/abbr> structures and attached KPIs and the time horizons over which pay is released.<br><br><a href=\"https:\/\/www.ecgi.global\/code\/greenbury-report-study-group-directors-remuneration\">Greenbury Report (1995)<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>1998<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">Hampel Report<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">&#8211; The Hampel Committee, chaired by Sir Ronnie Hampel, was set up to review the implementation of the Cadbury and Greenbury reports.<br><br>&#8211; The Hampel Report aimed to harmonise, clarify and combine the two sets of recommendations into one Code. <br><br>-It relied on broad principles and a &#8216;common sense&#8217; approach, which was necessary to apply to different situations, rather than Cadbury and Greenbury&#8217;s perceived &#8216;box-ticking&#8217; approach.<br><br><a href=\"https:\/\/www.ecgi.global\/code\/hampel-report-final\">Hampel Report (1998)<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>1999<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">Turnbull Report<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">&#8211; The report, written by the committee chaired by Nigel Turnbull, set out obligations for directors under the\u00a0<a href=\"https:\/\/www.frc.org.uk\/documents\/3779\/Combined_Code_June_1998.pdf\">Combined Code<\/a>. <br><br>&#8211; The guidance on good practices for listed companies included keeping good internal controls or having good audits and checks to ensure the quality of financial reporting and catch any fraud before it becomes a problem.<br><br><a href=\"https:\/\/www.ecgi.global\/code\/internal-control-guidance-directors-combined-code-turnbull-report\">Turnbull Report (1999)<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>2003<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">Higgs Review (This part onwards will be covered in Friday&#8217;s session)<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><br>&#8211; The Higgs review, conducted by Derek Higgs, was an independent review of the role and effectiveness of non-executive directors and the audit committee. <br><br>&#8211; It aimed to improve and strengthen the Combined Code.<br><br>&#8211; While the review backed the existing non-prescriptive approach to <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr> governance ( \u2018comply or explain\u2019) it also advocated for more provisions with set criteria for the board composition and evaluation of independent directors. <br><br>&#8211; This guidance has now been replaced by the\u00a0<a href=\"https:\/\/www.frc.org.uk\/documents\/4722\/Guidance_on_Board_Effectiveness_MmfcOrz.pdf\">Guidance on Board Effectiveness<\/a>.<br><br><a href=\"https:\/\/webarchive.nationalarchives.gov.uk\/ukgwa\/20121212135622\/http:\/www.bis.gov.uk\/files\/file23012.pdf\">Higgs Review (2003)<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>2003<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">Smith Report<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><br>&#8211; The FRC Group on Audit Committees, chaired by Sir Robert Smith, was tasked with developing the guidance on audit committees in the Combined Code. <br><br>&#8211; The group&#8217;s report codified the role of audit committees. <br><br>&#8211; It was subsequently revised and is now known as the\u00a0<a href=\"https:\/\/www.frc.org.uk\/library\/standards-codes-policy\/audit-assurance-and-ethics\/audit-committees\/\">Guidance on Audit Committees<\/a>.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>2005<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">Revised Turnbull Guidance<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><br>&#8211; The Turnbull Review Group concluded that the original Turnbull Guidance contributed to an overall improvement to the standard of risk management and internal control, and therefore no significant edits were required.<br><br>&#8211; A small number of amendments were proposed, among them requiring the inclusion in annual reports of information to allow shareholders to understand the principal features of a company&#8217;s internal control procedures and risk management system.<br><br><a href=\"https:\/\/www.frc.org.uk\/documents\/1865\/Turnbull_review_evidence_paper.pdf\">Revised Turnbull Guidance (2005)<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>2010<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">The UK <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance Code<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><br>&#8211; The 2003 update to the Combined Code to include the recommendations of the Higgs Report and the Smith Report was followed by the 2010 review.<br><br>&#8211; In the wake of financial crises that came to a head in 2008-09, the FRC (The Financial Reporting Council) decided to bring forward the review and the Code was renamed the UK <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance Code. <br><br>&#8211; The review concluded, among other things, that more attention needed to be paid to following the spirit of the Code as well as its letter.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>2014<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">Risk &amp; Viability<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><br>&#8211; The\u00a0<a href=\"https:\/\/www.frc.org.uk\/documents\/6015\/Guidance_on_Risk_Management_Internal_Control_and_Related_Financial_and_Business_Reporting_September.pdf\">Guidance on Risk Management, Internal Control and Related Financial and Business Reporting<\/a>\u00a0was primarily directed at companies subject to the UK <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance Code.<br><br>&#8211; The purpose of the guidance was to bring together elements of best practice for risk management; prompt boards to consider how to discharge their responsibilities in relation to the existing and emerging principal risks; and highlight related reporting responsibilities.<br><br><a href=\"https:\/\/www.frc.org.uk\/documents\/6015\/Guidance_on_Risk_Management_Internal_Control_and_Related_Financial_and_Business_Reporting_September.pdf\">Risk &amp; Viability (2014)<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>2016<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">Audit Updates<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><br>&#8211; Following the introduction of the EU\u00a0<a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX:32014L0056\">Audit Directive<\/a>\u00a0and the\u00a0<a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX:32014R0537\">Regulation<\/a>, the Code was amended to ensure that it worked alongside the new legislation.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>2018<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">Comprehensive Code Review<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><br>&#8211; The revision of the Code took <abbr class=\"c2c-text-hover\" title=\"Part of double entry records, containing details of transactions for a specific item.\">account<\/abbr> of work done by the FRC on <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr> culture and succession planning, and the issues raised in the Government\u2019s Green Paper and the BEIS Select Committee inquiry.<br><br>&#8211; Apart from giving centre stage to <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr> culture and purpose, the 2018 Code Review broadened the definition of governance and emphasised the importance of positive relationships between Shareholders and Stakeholders. <br><br>&#8211; It also stressed the significance of independence and constructive challenge in the boardroom.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>2023<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance Consultation<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><br>&#8211; Following the consultation on Restoring Trust in Audit and <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance, in 2022, the government invited the FRC to strengthen the UK <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance Code in specific areas.<br><br>&#8211; The key objectives were to improve the quality of companies&#8217; risk management and internal controls, and the board&#8217;s <abbr class=\"c2c-text-hover\" title=\"Something of value to which a party is not already entitled, given to the party in exchange for contractual promises. Consideration can take various forms, including a Monetary payment, Promise to do something or Promise to refrain from doing something.\">consideration<\/abbr> of <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr> governance activity to achieve their company&#8217;s strategic objectives. <br><br>&#8211; We consulted on several other changes to the Code aimed at removing duplication and strengthening or streamlining reporting.<br><br>&#8211; For more information review our\u00a0<a href=\"https:\/\/www.frc.org.uk\/consultations\/corporate-governance-code-consultation\/\"><abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance Consultation<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>2024<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewbox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-content\">\n<h3 class=\"wp-block-heading ctlb-block-title\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">UK <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance Code 2024<\/h3>\n\n\n\n<p class=\"ctlb-block-desc wp-block-paragraph\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><br><br>&#8211; The revised\u00a0<a href=\"https:\/\/www.frc.org.uk\/library\/standards-codes-policy\/corporate-governance\/uk-corporate-governance-code\/\">UK <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance Code<\/a>\u00a0was published on 22 January 2024 and will apply to financial years beginning on or after 1 January 2025, other than provision 29 which will apply to financial years beginning on or after 1 January 2026.<br><br>&#8211; <a href=\"https:\/\/www.frc.org.uk\/library\/standards-codes-policy\/corporate-governance\/corporate-governance-code-guidance\/\">Revised guidance<\/a>\u00a0to accompany the Code was published on 29 January 2024 in a new <abbr class=\"c2c-text-hover\" title=\"using or relating to computers and the internet\/recording or storing information as a series of the numbers 1 and 0, to show that a signal is present or absent.\">digital<\/abbr> format.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Read more:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.frc.org.uk\/library\/standards-codes-policy\/corporate-governance\/corporate-governance-overview\/#:~:text=The%20Hampel%20Report%20aimed%20to,'box%2Dticking'%20approach.\">https:\/\/www.frc.org.uk\/library\/standards-codes-policy\/<abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr>-governance\/<abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr>-governance-overview\/#:~:text=The%20Hampel%20Report%20aimed%20to,&#8217;box%2Dticking&#8217;%20approach.<\/a><\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #ffab1f; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #ffab1f;\" aria-controls=\"ub-content-toggle-panel-7-e4273613-a0ee-4899-809e-e73fcdb87230\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-e4273613-a0ee-4899-809e-e73fcdb87230\" style=\"color: #000; \"><strong>Activity<\/strong><\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap left\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-7-e4273613-a0ee-4899-809e-e73fcdb87230\">\n\n<div class=\"wp-block-file\"><a id=\"wp-block-file--media-86f71f59-41a7-4e83-ab6d-fe959d924ca7\" href=\"https:\/\/thefinancialeducation.co.uk\/wp-content\/uploads\/2020\/09\/Activities-Questions.docx\">Activities &#8211; Questions<\/a><a href=\"https:\/\/thefinancialeducation.co.uk\/wp-content\/uploads\/2020\/09\/Activities-Questions.docx\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-86f71f59-41a7-4e83-ab6d-fe959d924ca7\">Download<\/a><\/div>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #ffab1f; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #ffab1f;\" aria-controls=\"ub-content-toggle-panel-8-e4273613-a0ee-4899-809e-e73fcdb87230\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-e4273613-a0ee-4899-809e-e73fcdb87230\" style=\"color: #000; \"><strong>Bibliography<\/strong><\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap left\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-8-e4273613-a0ee-4899-809e-e73fcdb87230\">\n\n<p class=\"wp-block-paragraph\">Ali, R (2015) <em><abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance in the UK <\/em>available at &lt;https:\/\/www.slideshare.net\/ranafaysalali\/corporategovernaneintheuk&gt; 23\/09\/2018<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Armour, J., Awrey, D., Enriques, L., Gordon, J., Mayer, C and Payne, J. (2016) <em>Principles of Financial Regulation <\/em>Oxford: Oxford University press<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ICAEW (2018) <em>The Cadbury Report <\/em>available from &lt;https:\/\/www.icaew.com\/library\/subject-gateways\/<abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr>-governance\/codes-and-reports\/cadbury-report&gt; 19\/08\/2018<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nickhil, B. (2014) <em>Cadbury report on <abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr> governance. <\/em>Available at &lt;https:\/\/www.slideshare.net\/BandriNikhil\/cadbury-report-on-<abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr>-governance&gt; 20\/09\/2018<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jain, S. (2016) <em><abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> governance committees<\/em> available at &lt;https:\/\/www.slideshare.net\/Sumanrajjain\/<abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr>-governance-committees&gt; 23\/09\/2018<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pierce, C.(2010) <em><abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">Corporate<\/abbr> Governance in the European Union <\/em>London: Global Governance Services<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.icaew.com\/technical\/corporate-governance\/codes-and-reports\/hampel-report#articles\">https:\/\/www.icaew.com\/technical\/<abbr class=\"c2c-text-hover\" title=\"a large company or group of companies that is controlled together as a single organization.\">corporate<\/abbr>-governance\/codes-and-reports\/hampel-report#articles<\/a><\/p>\n\n<\/div>\n\t\t<\/div>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cadbury, Greenbury and Hampel Reports<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_eb_attr":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[25,51],"tags":[],"class_list":["post-3723","post","type-post","status-publish","format-standard","hentry","category-211bir","category-507af"],"featured_image_src":null,"author_info":{"display_name":"admin","author_link":"https:\/\/thefinancialeducation.co.uk\/index.php\/author\/admin\/"},"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"education-hub-thumb":false},"uagb_author_info":{"display_name":"admin","author_link":"https:\/\/thefinancialeducation.co.uk\/index.php\/author\/admin\/"},"uagb_comment_info":0,"uagb_excerpt":"Cadbury, Greenbury and Hampel Reports","_links":{"self":[{"href":"https:\/\/thefinancialeducation.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/3723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thefinancialeducation.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thefinancialeducation.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thefinancialeducation.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thefinancialeducation.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=3723"}],"version-history":[{"count":178,"href":"https:\/\/thefinancialeducation.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/3723\/revisions"}],"predecessor-version":[{"id":38444,"href":"https:\/\/thefinancialeducation.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/3723\/revisions\/38444"}],"wp:attachment":[{"href":"https:\/\/thefinancialeducation.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=3723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thefinancialeducation.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=3723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thefinancialeducation.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=3723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}