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Home > QFINANCE Dictionary > Definition of Turnbull

Definition of


Regulation & Compliance

UK internal control guidance in the United Kingdom, a best-practice framework for internal control in UK listed companies, originally established in 1999 and subsequently updated

Turnbull - Related Articles
  • Internal Auditors and Enterprise Risk Management

    Best Practice

    Undoubtedly, however, the UK Turnbull Report (henceforth “Turnbull”) on corporate governance was an important catalyst in the process of involving internal auditors with risk management. The Turnbull emphasis on the adoption by corporations of risk-based approaches to the establishment of internal control systems, and on the subsequent monitoring of these systems’ effectiveness, created a role for high-level monitoring agencies within organizations
    By Ian Fraser

  • New Assurance Challenges Facing Chief Audit Executives

    Best Practice

    assurance on the effectiveness of risk management. In fact, in many organizations internal audit already clearly does this, as demonstrated in Protiviti’s June 2007 publication Internal Auditing Around the World.3 It is clear—and has been since Turnbull (1999),4 if not before—that boards have a duty to get
    By Simon D'Arcy

  • Robert Merton


    The Merton Model, which he presented in 1970, was a method of valuing a corporate bond based on default probability using a form of the Black–Scholes equation; it was extended by Robert Jarrow and Stuart Turnbull for the Jarrow–Turnbull Model. High-profile defaults such as Enron and WorldCom, and the rise

  • Boardroom Roles

    Best Practice

    Stock Exchange are required to disclose how far they comply with the Code as a condition of listing. The latest version was published in June 2008 by the Financial Reporting Council, which is now responsible for the Combined Code, but it does not include the Turnbull and Smith guidance. 2 Although
    By Sir Adrian Cadbury


Definitions of ’Turnbull’ and meaning of ’Turnbull’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’Turnbull’ and other financial terms with our online QFINANCE Financial Dictionary.

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