Cadbury Report


Cadbury Report
A British *corporate governance report of 1992. The influence of the Cadbury Report has been international in its impact. Prepared by a committee chaired by *Sir Adrian Cadbury, the formal title of the report was the Report of the Committee on the Financial Aspects of Corporate Governance. Adrian Cadbury is a member of the Cadbury chocolate manufacturing dynasty, and he held the post of chairperson of Cadbury Schweppes Pic, a British listed corporation with Quaker (Society of Friends) origins, from 1975 to 1989. He was also a director of the Bank of England from 1970 to 1994. The Committee on the Financial Aspects of Corporate Governance was established in 1991 by the London Stock Exchange and the British accounting profession following a series of corporate accounting scandals in the United Kingdom. The Cadbury Report focused on the importance of a culture of openness, integrity, and *accountability as prerequisites for effective corporate governance, and it resulted in a Code of Best Practice that is commonly referred to as the Cadbury Code. The Cadbury Committee requested that its work be reviewed and updated after several years: This led to the *Hampel Report of 1998. Further reading: Cadbury Report (1992); Cadbury (2002); Chapman (2003)

Auditor's dictionary. 2014.

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