The International code of corporate governance recommends that the nomination committee should appoint ____________________ Management Directors Chairman Chief executives
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- Corporate governance is a critical aspect of management that encompasses the systems, processes, and structures by which companies are directed and controlled. It involves defining the roles and responsibilities of various stakeholders, including shareholders, board members, executives, and management, to ensure transparency, accountability, and ethical behavior. Effective corporate governance helps mitigate risks, safeguard stakeholders' interests, and enhance the long-term value of the organization. It also contributes to building trust and credibility with investors, customers, employees, and the wider community. Key principles of corporate governance include integrity, fairness, transparency, and accountability, which guide decision-making and promote sustainable business practices. Question: How can companies ensure transparency and accountability in their corporate governance practices?BUSINESS LAW CHAPTER 4 CRIMINAL LAW TESTTrue/FalseIndicate whether the statement is true or false.____ 1. Crimes are either classified as felonies or misdemeanors according to the severity of their potential punishment.____ 2. Generally, all the jurors must vote for conviction before a person can be convicted of a crime.____ 3. Persons convicted of infractions can only be fined.____ 4. The holding of a corporation or one of its officers criminally liable for the actions of one of its employees is referred to as victimless criminal liability.____ 5. Procedural defenses focus on whether the alleged criminal actually committed the crime.____ 6. It is not a crime to buy property that you know has been stolen.____ 7. “Falsely making or altering a writing to defraud another” is the definition of the crime of embezzlement.____ 8. A grant of immunity can eliminate a person’s right to refuse to testify on the grounds of self-incrimination.____ 9. Generally, what is a crime for…A Muslim trader should keep up his __________, _______and____________as these are considered as Islamic ethical behavior and imposes a great importance to it. Choose the most appropriate terms to fill the gap. a. lack of trust, promise and agreement b. customer, supplier and financiers c. trusts, promises and contracts d. profits, insurance and bank settlements
- Which of the following ethical principle implies that an organization should distribute benefit based on the output of employees? a.Principle of respect to human dignity b.Principle of respect for autonomy c.Principle of maleficence d.Principle of justiceLimited benefit plans are designed to: O A. O B. O C. O D. provide additional insurance coverage for named diseases insure business owners only for all diseases protect employees for the loss of life insurance pay for unemployment ExpensesWhich of the following contributions is always 100% vested? Qualified non-elective contribution Employee elective deferrals Employer matching contribution Qualified matching contribution Select one: 1, 3, and 4 1, 2, and 4 2, 3, and 4 1, 2, 3, and 4 Clear my choice
- You recently represented your organization at a career fair held at a college campus in Toronto. A number of students submitted their resumes to you, in hopes of securing employment upon graduation. A few students submitted resumes that were very impressive; however, when you spoke with each of them, it became apparent that they had embellished or "padded" their resumes. The students had misrepresented their skills or experience in order to make themselves appear more qualified. Now back at your office, you must make a decision as to whether the conduct of these students should disqualify them from employment with your organization. What four questions would you have to ask In order to determine whether the students' actions conform to the categorical imperative? Is it ethical for someone to pad their resume? Why or why not?You are the director of health information services at a tertiary-care hospital. You and the director of emergency room services are jointly responsible for reporting instances of communicable disease, child abuse, and cancer to the appropriate state authority. You have just completed an audit of your institution’s reporting mechanism and discovered that the reporting requirements are not consistently met. The audit could not definitively establish whether the reporting never occurred or occurred but was not documented in the patient’s health record. Discuss what legal issues are present and what approaches you should take to resolve this problem.What are the three major legal forms of business organizations? Which one is chosen by most of the largest companies in the United States?
- The corporate governance scandal brought to light many issues which have played an important role in determining the enhancement process addressed by the Government of Malaysia. The fact that agency problems occur between shareholders and mangers and/orshareholders and board of directors these problems were major factors why there was a real need to improve the corporate governance mechanism. The agents or mangers have been accused of not acting on the shareholders best interests. Managers are also blamed for their lack of responsibility for business practices since they do not show the concern as if they were owners themselves.(Extracted from: What Has Changed? The Development of Corporate Governance in Malaysia, Sulaiman Alnasser, 2012, Journal of Risk Finance)REQUIRED:(a) Explain TWO (2) reasons why corporate governance received attention by the Government of Malaysia.Najib does not share any of his business profit. Which of these is his company? a. Najib and Hassan L.L.C b. Najib Corporation c. Najib and Partners d. Najib SupermarketRegistered external auditors must have the knowledge and skills to perform their function and should be honest. There are also a number of other attributes or fundamental principles of ethical behavior, which all auditors should have and these are identified in professional external auditing standards issued by IRBA as follows:· integrity· objectivity· professional competence and due care· confidentiality· professional behaviorThe following actions taken by registered external auditors are example of non-compliance with one or more principles listed above; Question 7 7.1 Briefly explain each of the principles of ethical behavior listed above.7.2 Identify, with a brief explanation which of the fundamental principles have not been complied with in eachof the situations above.(Each situation may amount to non-compliance with more than one principle)7.3 Discuss the similarities and differences, if any, between the code of ethics for external auditors (IRBA) andthe code of ethics for…