The 1992 Cadbury Report on corporate governance was a game changer and has been copied internationally in varied forms. But according to international governance consultant, Professor Bob Garratt, it was structurally flawed in some ways.
First was the notion that a written code would resolve all directors’ issues as they tried to ensure their organisations’ future effectiveness. Plus, it was immediately associated with the financial sector only, because it had been sponsored by the Institute of Chartered Accountants of England and Wales and the London Stock Exchange.
