The Committee on the Financial Aspects of Corporate Governance, better known as the Cadbury Committee, was set up in May 1991 to address the concerns increasingly voiced at that time about how UK companies dealt with financial reporting and accountability and the wider implications of this. The Committee was sponsored by the London Stock Exchange, the Financial Reporting Council, and the accountancy profession, and published its final report and recommendations in December 1992. Central to these was a Code of Best Practice and the requirement for companies to comply or to explain to their...