Question Tag: Composition

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AA – July 2023 – L2 – Q1a – Institutional Regulation and Standard-Setting, Professional and Ethical Considerations

Requirements in the composition and functions of Audit Committees in corporate governance.

a) Boards rely on the Audit Committee to offer effective oversight of the financial reporting process, making it one of the cornerstones for effective corporate governance. Effective Audit Committee is vital for protecting investors and the health of the capital markets.

Required:
i) Identify THREE (3) requirements in the composition of Audit Committees in accordance with the best practice in Corporate Governance. (3 marks)
ii) List TWO (2) functions of an Audit Committee. (2 marks)

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PSAF – May 2021 – L2 – Q4 – Public Procurement

Outline the composition of the Public Procurement Board as per the Public Procurement (Amendment) Act, 2016.

a) A Procurement Board is established under the Provision of the Public Procurement (Amendment) Act, 2016 (Act 914) with the prime objective of harmonizing the process of Public Procurement in Public Services.

Required:
Outline the Composition of the Public Procurement Board. (4 marks)

b) The Entity Committee of the Social Department intends to acquire the following items:
i) 100 Pickups for offices at the department at the cost of GH¢120,000 each.
ii) Hire a Consultant to train Staff at all its units across the country for a period of 5 weeks at a cost of GH¢6,500,000.
iii) Undertake the construction of offices at a Value of GH¢13,700,000.
iv) Procure 20 Laptops at the cost of GH¢2,400 each.

Required:
Explain the appropriate Procurement methods that should be used to award these contracts (i – iv). (6 marks)

c) Fiscal constraints experienced by countries have resulted in developing new and innovative approaches to the provision and financing of public infrastructure and services. Public-Private Partnership (PPP) framework reflects the Government’s desire to improve the quality, cost-effectiveness, and timely provision of public infrastructure and services in Ghana.

Required:
i) Distinguish between Public Partnership and Public-Private Partnership. (2.5 marks)
ii) Explain FIVE (5) reasons why you would discourage the Government from embarking on Public-Private Partnership. (7.5 marks)

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AA – July 2023 – L2 – Q1a – Institutional Regulation and Standard-Setting, Professional and Ethical Considerations

Requirements in the composition and functions of Audit Committees in corporate governance.

a) Boards rely on the Audit Committee to offer effective oversight of the financial reporting process, making it one of the cornerstones for effective corporate governance. Effective Audit Committee is vital for protecting investors and the health of the capital markets.

Required:
i) Identify THREE (3) requirements in the composition of Audit Committees in accordance with the best practice in Corporate Governance. (3 marks)
ii) List TWO (2) functions of an Audit Committee. (2 marks)

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You're reporting an error for "AA – July 2023 – L2 – Q1a – Institutional Regulation and Standard-Setting, Professional and Ethical Considerations"

PSAF – May 2021 – L2 – Q4 – Public Procurement

Outline the composition of the Public Procurement Board as per the Public Procurement (Amendment) Act, 2016.

a) A Procurement Board is established under the Provision of the Public Procurement (Amendment) Act, 2016 (Act 914) with the prime objective of harmonizing the process of Public Procurement in Public Services.

Required:
Outline the Composition of the Public Procurement Board. (4 marks)

b) The Entity Committee of the Social Department intends to acquire the following items:
i) 100 Pickups for offices at the department at the cost of GH¢120,000 each.
ii) Hire a Consultant to train Staff at all its units across the country for a period of 5 weeks at a cost of GH¢6,500,000.
iii) Undertake the construction of offices at a Value of GH¢13,700,000.
iv) Procure 20 Laptops at the cost of GH¢2,400 each.

Required:
Explain the appropriate Procurement methods that should be used to award these contracts (i – iv). (6 marks)

c) Fiscal constraints experienced by countries have resulted in developing new and innovative approaches to the provision and financing of public infrastructure and services. Public-Private Partnership (PPP) framework reflects the Government’s desire to improve the quality, cost-effectiveness, and timely provision of public infrastructure and services in Ghana.

Required:
i) Distinguish between Public Partnership and Public-Private Partnership. (2.5 marks)
ii) Explain FIVE (5) reasons why you would discourage the Government from embarking on Public-Private Partnership. (7.5 marks)

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