Find Related Questions by Tags, levels, etc.
James Mensah and Edwin Mensah are concerned that SBL is not strictly adhering to concepts of good governance. They want to see SBL as a well-governed company.
Required:
As a Business Development Advisor, explain to the board what “concepts of good governance” is. (10 marks)
Find Related Questions by Tags, levels, etc.
COM has not had any serious corporate governance issues that have raised concerns as to potential ethical conflicts. However, the Board of Directors has raised concerns about the fact that the Finance department does not have a separate code of conduct in view of the risks associated with their work. Some are proposing a rules-based approach instead of a principles-based approach.
Required:
The CEO has approached you as a Finance professional and a friend to assist him in guiding the Board since the issue was not discussed exhaustively and there is the likelihood that the matter would be part of the next Board meeting. Write a report discussing the merits and demerits of both rules-based approach and a principles-based approach to setting ethical standards.
Find Related Questions by Tags, levels, etc.
The board of COM currently consists of one executive director, the CEO, six non-independent non-executive directors (NEDs), and three independent NEDs. The chairman of the board has indicated that since the company is now listed, it is prudent to increase the number of independent NEDs. This, in the view of the board chairman, will ensure a ‘balance of power’ on the board so that no individual or small group of individuals can dominate decision-making by the board.
Required:
The Board chairman has approached you, a corporate governance expert and consultant, to make a presentation to the board on the factors that would be considered in selecting independent NEDs as provided in the Code of Best Practices on Corporate Governance. Limit the factors to FOUR (4).
Find Related Questions by Tags, levels, etc.
Some of the SavvyTech plc management team is concerned that the Director of Finance and Operations is domineering during the acquisition engagement processes at meetings. The Director of Finance and Operations mentioned in anger that ‘arguably, accountancy has an influence on business and government and that is both:
i) continuous and
ii) more extensive than any other profession’.
Required:
As a newly qualified Chartered Accountant responsible for code of ethics in SavvyTech plc, identify and explain FIVE (5) reasons in support of why the Director of Finance and Operations seems to be projecting finance over other functions.
Find Related Questions by Tags, levels, etc.
The OECD Principles of Corporate Governance, as an international statement of principles about corporate governance, establishes minimum acceptable standards of corporate governance. However, like any such document on corporate governance, it has several limitations.
Required:
Identify and explain TWO (2) limitations of the OECD Principles of Corporate Governance.
(5 marks)
Find Related Questions by Tags, levels, etc.
NSL’s current corporate governance structure consists of three executive directors and one non-executive director, with the CEO serving as the chairman of the board. The board, as presently constituted, may have its strengths and weaknesses.
Required:
i) State and explain TWO (2) agency costs that the company would avoid as postulated by Agency Theory of corporate governance that “agency costs do not exist when the owners and the managers are exactly the same individuals.”
(5 marks)
ii) Explain TWO (2) roles that the non-executive director, Daniel Aidoo, ought to play on the board as identified by the document, Higgs Guidance (2003), to strengthen NSL’s board.
(5 marks)
Find Related Questions by Tags, levels, etc.
a) LCH’s Board of Directors is composed of four experienced professionals.
Required:
In reference to codes of corporate governance and the composition of LCH’s Board, analyze the view that the board has a suitable balance.
(5 marks)
b) The OECD Principles (2015) provide guidance through recommendations and annotations across six chapters. Principle 5 and 6 deal with disclosure and transparency and the responsibilities of the board respectively.
Required:
Provide the guidance and recommendations given on these principles and how relevant it is to LCH.
(7 marks)
Find Related Questions by Tags, levels, etc.
NSL outsourced some aspects of the finance function to a professional accounting firm. A misunderstanding about the relationship that does or should exist between a professional accountant and a client led to disagreements between the accounting firm and the management team over some financial reporting issues. An attempt by management to interfere with the work of the accounting firm was firmly resisted.
Required:
State and explain THREE (3) out of the FOUR models that describe a professional accountant-client relationship, clearly indicating whether NSL or the professional accounting firm has most authority and responsibility for final decision-making.
(10 marks)
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
James Mensah and Edwin Mensah are concerned that SBL is not strictly adhering to concepts of good governance. They want to see SBL as a well-governed company.
Required:
As a Business Development Advisor, explain to the board what “concepts of good governance” is. (10 marks)
Find Related Questions by Tags, levels, etc.
COM has not had any serious corporate governance issues that have raised concerns as to potential ethical conflicts. However, the Board of Directors has raised concerns about the fact that the Finance department does not have a separate code of conduct in view of the risks associated with their work. Some are proposing a rules-based approach instead of a principles-based approach.
Required:
The CEO has approached you as a Finance professional and a friend to assist him in guiding the Board since the issue was not discussed exhaustively and there is the likelihood that the matter would be part of the next Board meeting. Write a report discussing the merits and demerits of both rules-based approach and a principles-based approach to setting ethical standards.
Find Related Questions by Tags, levels, etc.
The board of COM currently consists of one executive director, the CEO, six non-independent non-executive directors (NEDs), and three independent NEDs. The chairman of the board has indicated that since the company is now listed, it is prudent to increase the number of independent NEDs. This, in the view of the board chairman, will ensure a ‘balance of power’ on the board so that no individual or small group of individuals can dominate decision-making by the board.
Required:
The Board chairman has approached you, a corporate governance expert and consultant, to make a presentation to the board on the factors that would be considered in selecting independent NEDs as provided in the Code of Best Practices on Corporate Governance. Limit the factors to FOUR (4).
Find Related Questions by Tags, levels, etc.
Some of the SavvyTech plc management team is concerned that the Director of Finance and Operations is domineering during the acquisition engagement processes at meetings. The Director of Finance and Operations mentioned in anger that ‘arguably, accountancy has an influence on business and government and that is both:
i) continuous and
ii) more extensive than any other profession’.
Required:
As a newly qualified Chartered Accountant responsible for code of ethics in SavvyTech plc, identify and explain FIVE (5) reasons in support of why the Director of Finance and Operations seems to be projecting finance over other functions.
Find Related Questions by Tags, levels, etc.
The OECD Principles of Corporate Governance, as an international statement of principles about corporate governance, establishes minimum acceptable standards of corporate governance. However, like any such document on corporate governance, it has several limitations.
Required:
Identify and explain TWO (2) limitations of the OECD Principles of Corporate Governance.
(5 marks)
Find Related Questions by Tags, levels, etc.
NSL’s current corporate governance structure consists of three executive directors and one non-executive director, with the CEO serving as the chairman of the board. The board, as presently constituted, may have its strengths and weaknesses.
Required:
i) State and explain TWO (2) agency costs that the company would avoid as postulated by Agency Theory of corporate governance that “agency costs do not exist when the owners and the managers are exactly the same individuals.”
(5 marks)
ii) Explain TWO (2) roles that the non-executive director, Daniel Aidoo, ought to play on the board as identified by the document, Higgs Guidance (2003), to strengthen NSL’s board.
(5 marks)
Find Related Questions by Tags, levels, etc.
a) LCH’s Board of Directors is composed of four experienced professionals.
Required:
In reference to codes of corporate governance and the composition of LCH’s Board, analyze the view that the board has a suitable balance.
(5 marks)
b) The OECD Principles (2015) provide guidance through recommendations and annotations across six chapters. Principle 5 and 6 deal with disclosure and transparency and the responsibilities of the board respectively.
Required:
Provide the guidance and recommendations given on these principles and how relevant it is to LCH.
(7 marks)
Find Related Questions by Tags, levels, etc.
NSL outsourced some aspects of the finance function to a professional accounting firm. A misunderstanding about the relationship that does or should exist between a professional accountant and a client led to disagreements between the accounting firm and the management team over some financial reporting issues. An attempt by management to interfere with the work of the accounting firm was firmly resisted.
Required:
State and explain THREE (3) out of the FOUR models that describe a professional accountant-client relationship, clearly indicating whether NSL or the professional accounting firm has most authority and responsibility for final decision-making.
(10 marks)
Find Related Questions by Tags, levels, etc.
Elevate your professional expertise across key business domains with our comprehensive training programs
Follow us on our social media and get daily updates.
This feature is only available in selected plans.
Click on the login button below to login if you’re already subscribed to a plan or click on the upgrade button below to upgrade your current plan.
If you’re not subscribed to a plan, click on the button below to choose a plan