Turnbull Report

Turnbull Report

"Internal Control: Guidance for Directors on the Combined Code" (1999) also known as the "Turnbull Report" is a report drawn up with the London Stock Exchange for listed companies. The committee which wrote the report was chaired by Nigel Turnbull of The Rank Group plc. The report informs directors of their obligations under the Combined Code with regard to keeping good "internal controls" in their companies, or having good audits and checks to ensure the quality of financial reporting and catch any fraud before it becomes a problem. [p.4, "Introduction", para. 12.]

Revised guidance was issued in 2005.

ee also

* UK company law
* Corporate Governance
* Cadbury Report (1992), "Financial Aspects of Corporate Governance", on corporate governance generally. Pdf file [http://www.ecgi.org/codes/documents/cadbury.pdf here]
* Greenbury Report (1995) on director remuneration. Pdf [http://www.ecgi.org/codes/documents/greenbury.pdf here]
* Hampel Report (1998), review of corporate governance since Cadbury, pdf [http://www.ecgi.org/codes/documents/hampel.pdf here] and online with the EGCI [http://www.ecgi.org/codes/documents/hampel_index.htm here]
* Myners Report (2001), "Institutional Investment in the United Kingdom: A Review" on institutional investors, Pdf file [http://www.hm-treasury.gov.uk/media/1/6/31.pdf here] and "Review of Progress" Report [http://www.hm-treasury.gov.uk/media/4/3/myners_principles_web.pdf here]
* Higgs Report (2003) "Review of the role and effectiveness of non-executive directors". Pdf [http://www.berr.gov.uk/files/file23012.pdf here]
* Smith Report (2003) on auditors. Pdf [http://www.frc.org.uk/documents/pagemanager/frc/Smith%20Report%202005.pdf here]

Notes

External links

* Text of the revised [http://www.frc.org.uk/documents/pagemanager/frc/Revised%20Turnbull%20Guidance%20October%202005.pdf Turnbull Guidance 2005]
* The Financial Reporting Council's [http://www.frc.org.uk/corporate/internalcontrol.cfm website] for internal control

* [http://www.frc.org.uk/documents/pagemanager/frc/Combined%20Code%20June%202006.pdf Full text of the combined code 2006]
* [http://www.fsa.gov.uk/pubs/ukla/lr_comcode2003.pdf Full text of the combined code 2003]

* The Financial Services Authority Listing Rules [http://fsahandbook.info/FSA/html/handbook/LR online] and in [http://fsahandbook.info/FSA//handbook/LR.pdf pdf format] , under which there is an obligation to comply with the Combined Code, or explain why it is not complied with, under LR 9.8.6(6).


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