9. State the purpose of corporate governance. 10. Explain the basic objectives of corporate governance. 11. Explain the three basic principles of effective corporate governance.
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- 11. Explain the three basic principles of effective corporate governance.1. Discuss how characteristics of not-for-profit organizations differ from for-profit organizations. 2. Discuss some of the differences in the preparation and presentation of the operating statements of nongovernmental not-for-profit entities and governmental not-for-profit entities reporting as business-type entities.topic - the basics of Corporate governance for the management accountant explain the role of shareholders, the Board of Directors and the senior management of the firm.
- Best practices of good corporate governance include: a. Filling the majority of board positions with the best performing managers of the firm b. Holding regular board meetings without the presence of the company's CEO c. Combining the responsibilities of the board chairperson with the chief executive officer d. Holding frequent closed board elections e. None of these are corporate governance best practicesWhat is pivotal role of the board in corporate governance? (focus on the pivotal position of the board in handling the problem between shareholders and management)Explain the function of audit committee. 1. Monitoring Financial Activities 2. Responsibility towards external auditors 3. Overseeing the Internal Control Process 4. Responsibility for Regulatory Compliance 5. Oversight of Risk Management
- The UK Corporate Governance Code (2018) gives guidance on Division of Responsibilities. Which TWO of the following are principles which apply in this area? A. The board should include an appropriate combination of executive and non-executive (and, in particular, independent non-executive) directors, such that no one individual or small group of individuals dominates the board’s decision-making. There should be a clear division of responsibilities between the leadership of the board and the executive leadership of the company’s business. B. The roles of chief executive and company secretary should be done by the same person where possible. C. Full time executive directors are actively encouraged to take on additional non-executive directorships in other companies. D. The chair leads the board and is responsible for its overall effectiveness in directing the company. They should demonstrate objective judgement throughout their tenure and promote a culture of…ABC is a company that processes food for the local market. Within the company, there have been a number of ethical violations. Some top executives have been accused of insider trading, bribing key regulatory officials, and attempting to conceal the alleged distribution of expired products. The company's ethical standards have completely collapsed. The board of directors is extremely concerned about the current state of affairs in the company. State four (4) reasons why employees of ABC may not have reported the ethical violations of the organization. How would the existence of ethical leadership help curb such a situation from recurring?a- Briefly discuss relevance of ‘ corporate social responsibility’ in the context of reasonability of a public joint stock towards its shareholders for maximizing shareholders’ b- Analyse principles enshrined in “Carroll’s pyramid” and ‘triple bottom lines’.
- Which of the lists of positions below are in the same order as these definitions: Managers of the day-to-day operation of the corporation; owners of the corporation; set strategy and policy for the corporation. 1. Board of Directors; Shareholders; Officers 2. Shareholders; Board of Directors 3. Officers; Shareholders; Board of Directors 4. Officers; Board of Directors; ShareholdersConclusion about Internal Auditors versus External Auditors: Who are the better advocates for Good Corporate Governance? Why? PLEASE ELABORATE3. Ethics refers to A)the practice of obeying applicable business laws and regulations B) the ability to recognize a morally problematic situation C) the ability to know right from wrong and to know when you're practicing one instead of .3 the other D)a series of situations in which an individual must choose between personal interest and the interest of others. 4 .5 4. What is the price at which the quantity of goods demanded, and the quantity of goods supplied are equal .6 .8 A) The going rate B) The margin rates C) The market price D) The optimum price