One of the objectives of a system of corporate governance is to secure the effective, sound and efficient operation of companies. This objective transcends any legislation or voluntary code. Good corporate governance embraces not only making the company prosper but also doing business in a legal and ethical manner. A key element of corporate governance is the audit committee. The Audit Committee is a committee of the board of directors and is of a voluntary nature regulated by voluntary codes. Discuss the problems associated with initiatives that been put forward to ensure independence of members of audit committee.

Q: How does the Sarbanes–Oxley Act contribute to accurate and quality financial reporting by public…

A: Sarbanes Oxley Act:   Sarbanes Oxley Act is a federal law established auditing and financial…

Q: While the principles of good corporate governance may be fundamentally the same for all companies,…

A: It is true that the company governance principles square measure universal each for each}…

Q: Which internal corporate governance provision do you feel has the best ability to limit agency…

A: What is AGENCY CONFLICTS? Let me give brief meaning of agency conflicts. Agency conflicts has…

Q: For each requirement, state how it is intended to help to address the risk of fraud in publicly…

A: Answer: With the increase of fraud cases and scams in public companies, different acts were…

Q: Explain Stakeholder Theory. Discuss the roles play by the board of directors in the application of…

A: Stakeholders are people that are directly related to the firm. These include shareholders,…

Q: For corporate social responsibility to be practiced properly, the firm must be first fulfill its…

A: Corporate social responsibility (CSR): It is often defined as a model that is related to the self…

Q: Critically elaborate on the role and the balance of power of the Board of  Directors and the…

A: Board of Directors The main function and duties of Board of Directors which has the right to recruit…

Q: Companies are required to follow the laws and regulations including company law, tax law and…

A: Internal control procedures are those procedures which are adopted to ensure fulfilment of…

Q: Given this, is the audit committee all that it is made out to be or is there still a case for the…

A: An audit committee is a subcommittee of the governing body of an entity, concerned with the quality…

Q: Under the Public Financial Management Act, Audit Committees are required to play important roles in…

A: Audit Committees are required to play important roles in corporate governance and Accountability…

Q: Which one of the following is not the underlying principles of the corporate governance? Fairness…

A: Corporate governance means management of the corporate or companies with the help of rules,…

Q: Which of the following is NOT a dimension of corporate governance:     Select one: a. Suppliers…

A: Corporate Governance Corporate governance is a structure or a system of organization's rules,…

Q: One of the objectives of a system of corporate governance is to secure the effective, sound…

A: Audit committee is the major committees which operate the BOD (Board of Director) of the company…

Q: Which of the following is NOT a corporate governance best practice? Question 8 options: Public…

A: Answer of Question 8:  Public company directors should hold meaningful amounts of stock as long as…

Q: What does the law assume is the main Corporate Objective of any corporation? Group of answer…

A: Any corporation is formed which the objective of earning maximum profits for the owners of the…

Q: 1. What is Corporate Governance? Explain the Purpose of Corporate Governance. What are the main…

A: (As per our guidelines we are supposed to answer only first question when multiple questions asked)…

Q: Using any of the defunct banks as a case study, justify how this definition is in line or deviates…

A: Corporate governance provides the structure through which the objectives of the company are set and…

Q: How does the Sarbanes–Oxley Act contribute to accurate and quality financial reporting by public…

A: Sarbanes Oxley Act:   Sarbanes Oxley Act is a federal law established auditing and financial…

Q: How can business benefit from a good corporate governance

A: Corporate Governance refers to the means a company is ruled. It’s the technique by that firm's…

Q: How can the Corporate Compliance and Governance contribute in the overall success of a certain…

A: Corporate compliance and governance can be defined as a system that helps in minimizing the…

Q: Suppose you are a major stakeholder in a large Organization. Elaborate the measures you will take in…

A: The company must be considering the decisions with a view to make advantages for the long term. The…

Q: In a public corporation, the agency conflict is: O the exploitation of the workers by the owners the…

A: Agency Conflict refers to Conflict between the agents and owners of the company  Agents refers to…

Q: One of the key principles of good corporate governance identified by the Malaysian Code on Corporate…

A: This committee is formed by the board of directors to oversee the risk management policy and global…

Q: Corporate social responsibility according to Carroll is both seen in the internal and external…

A: Corroll' CSR focuses mainly on 4 Responsibilities 1. Economic - to be profitable for companies…

Q: Explain how an audit committee could improve its effectiveness on internal auditor's internal…

A: The audit is defined as the independent examination and analysis of the financial statements of the…

Q: (ii) The oversight function of corporate governance is performed by: A. The company's board of…

A: The oversight function of corporate governance is performed by A. The company's board of directors…

Q: Shareholder activism means a) Shareholders require the company to exercise corporate social…

A: Shareholder activism means that the shareholder can influence a comlany behavior by excerising their…

Q: 29. __________________helps, to ensure that corporations take into account the interests of a wide…

A: Corporate governance helps, to ensure that corporations take into account the interests of a wide…

Q: The primer objective of corporate governance is supporting one of the following: Select one: a. All…

A: Corporate governance defines the way a corporate should be governed.

Q: The key independent membership with the experience, skills, commitment and understanding focus of…

A: Solution: Audit committee must be composed of correct persons with the correct mindset (commitment)…

Q: refers to a culture that is open, honest and communicate the values of the organization to persons…

A: Ans. The culture set by board of directors, audit committee and corporate officers throws a great…

Q: One of the objectives of a system of corporate governance is to secure the effective, sound and…

A: An audit committee is the committee which is authoritative for taking the control of audit…

Q: Two important issues in corporate governance are (1) the rules that cover the board's ability to…

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: Corporate governance explains the functions that are required to be performed by the board of…

A: One of the main functions to be performed by board of directors in Corporate governance is to review…

Q: Discuss about the role of Corporate Governance in protecting the rights of the Shareholders.

A: Corporate Governance is a practice introduced by the market regulator for better disclosure and…

Q: elow roles is NOT performed by a management accountant?   Planning short run operations Implementing…

A: Management Accounting- Accounting that is designed for the management. It is concerned with the…

Q: Explain the fundamental principles of corporate governance

A: Solution:- Corporate governance is the system of rules, practices, and processes used to management…

Q: That companies must follow the laws and regulations including company law, tax law and environmental…

A: Internal controls are policies incorporated by the Management to safeguard the assets of the…

Q: CEO duality refers to a situation in which the CEO formulates and implements strategies.the CEO…

A: CEO stands for Chief Executive Officer.  In a company CEO is the highest ranking executive. The main…

Q: Who are potentially the most effective instrument of good governance of a corporation? a. Government…

A: Corporate governance is the team which formulates, checks and implements rules and regulation of the…

Q: Creating a good public image is vital for the organizations and one of the ways is to work closely…

A: To have a good public image in the market by fulfilling the corporate social responsibility in…

Q: ory(s) if any. (2) Give recommendations and justify them to the board of directors. A. XYZ is a…

A: Corporate governance sets out the process, best practices and the structure of rules by which the…

Q: ne of the objectives of a system of corporate governance is to secure the effective, sound and…

A: Inventory refers to materials such as raw materials, finished products, and in-process goods that…

Q: Governance, Risk Management, and Control are interrelated terms. As an internal auditor whose…

A: Governance It is the duty and responsibility of the internal auditor to ensure the total quality…

Q: In a company, having one individual serve as both CEO and Chairman is a good idea. corporation can…

A: CSR is a strategy used by companies that promotes sustainable development by enhancing the social,…

Q: Governance, Risk Management, and Control in your chosen company.

A: Control could be a operate of management that helps to visualize errors so as to require corrective…