Business Ethics and Corporate Governance, Second Edition

THE HAMPEL COMMITTEE, 1995

The Hampel Committee was set up in November 1995 to promote high standards of corporate governance both to protect investors and preserve and enhance the standing of companies listed on the London Stock Exchange.³

The committee

• developed further the Cadbury Report.
• recommended that
  1. the auditors should report on internal control privately to the directors;
  2. the directors maintain and review all (and not just financial) controls;
  3. companies that do not already have an internal audit function, should from time to time, review their need for one; and
• Introduced the Combined Code that consolidated the recommendations of earlier corporate governance reports (Cadbury and Greenbury).