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The lecture discusses the formation of various reports in the UK prompted by corporate failures, leading to governance reforms. Adrienne Cadbury was tasked with identifying the causes of these failures, resulting in the Cadbury Report in 1992. This report was pivotal in addressing financial reporting and auditing standards. Following Cadbury, the Greenbury Report focused on directors' remuneration, and the subsequent Harman Report was included in the Combined Code in 2003. Additional discussions include the Higgs Report on non-executive director effectiveness and the Turnbull Report. These reports collectively aimed to enhance corporate governance and accountability in response to prior scandals.