Turnbull Report

The Turnbull Report is a UK guideline issued in 1999 that emphasizes the importance of effective internal controls within companies. It encourages organizations to establish processes to manage risks, ensure accuracy in financial reporting, and promote good governance. The report recommends that companies regularly review their systems, maintain transparency, and foster a strong control environment to prevent errors and fraud. Its goal is to increase stakeholder confidence by enhancing the reliability and integrity of financial statements and operational practices.