The Cadbury Committee Report was introduced by Sir Adrian Cadbury (and it does not have anything to do with chocolates - my apologies in case I broke your heart *wink*) and a few other people with a view to overcome huge problems of scams and failures occuring in the corporate sector in 1991.This had to be done because 4 major companies' stocks crashed at the stock markets and no one saw it coming.
The books of accounts were all clear and showed no bad debts or anything that would arouse the suspicions of the investors. When practically everyone who had put their money in those companies lost everything, all the corrupt practices, scams and frauds were revealed. But by then it was too late. Investors had already lost their trust in the honesty and sincerity of the corporate world. Hence, the need to set up a committee which would ensure no further occurrence of such an event and would renew the confidence of people in their companies. This report had many" recommendations " for the Board of Directors, Executive and Non-Executive Directors about how they should carry out their work in the company. Something like a corporate cord of conduct.
This event occurred in 1991 but I still find relevance in 2018. Not in the coporate sector or investing or stocks, but life. Many a times we end up doing a lot of wrong things in our life. We crib, cry and blame others for the unwanted consequences (some brave ones even own up and regret their actions). But very rarely do we actually take efforts to ensure the same thing doesn't repeat. It is pure luck if the same situation does not happen again (that's a different scenario). If it does, we don't take the initiative to bring about new changes in our life. We are all for giving advice to others, but when it comes to our own lives our standard dialogue is " uska case alag tha, mera waisa nhi hai".
Excuses, excuses, excuses.
If we don't take action now and " recommend " certain changes to ourselves, our lives may see a greater downfall of happiness than the stocks of the 1991 companies.