The Business Book

IN CONTEXT

FOCUS

Executive control

KEY DATES

1981 Australian-born US management consultant Peter Drucker suggests that chief executives “have not yet faced up to the fact that they represent power—and power has to be accountable.”

1991 The Cadbury Committee is established in the UK to investigate scams, failures, and accountability in corporate governance. Its influential report, Financial Aspects of Corporate Governance, is published a year later.

2002 The US government’s Sarbanes-Oxley Act sets out much stricter guidelines to govern accounting practices and the publication of previously confidential data (such as operational business risks).

Accountability ...