ERM Glossary: Turnbull Report

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The Turnbull Report (technically known as the ‘Internal Control: Guidance for Directors on the Combined Code (1999)’) was a report drawn up for the London Stock Exchange for listed companies. The committee that wrote the report was chaired by Nigel Turnbull of The Rank Group plc. The report informs directors of their obligations under the Combined Code to maintain good internal controls in their companies. Good internal controls include having good audits and suitable checks to ensure, if possible, the quality of financial reporting and the catching of fraud before it becomes a problem.

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