Which of the following does NOT form part of the objectives of a corporate governance best practice framework? O Separation of chairperson and CEO roles Establishment of audit, nomination and remuneration committees O Minimisation of risk Employment of non-executive directors
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- Which of the following are affected by the quality of an organization’s internal controls? a. Reliability of financial data. b. Ability of management to make informed business decisions. c. Ability of the organization to remain ¡n business. d. All of the above. e. Only a and c.The committee of the board of directors who is in charge of monitoring circumstances that might prevent the entity from achieving their objectives Group of answer choices Management committee Audit committee Compensation committee Risk committeeWhich one of the following is not the underlying principles of the corporate governance? Fairness Acceptability Accountability Transparency
- Which of the following is NOT a dimension of corporate governance: Select one: a. Suppliers b. Board of directors c. Auditors d. ShareholdersAudit committee activities and responsibilities includewhich of the following?a. Selecting the external audit firm.b. Approving corporate strategy.c. Reviewing management performance and determiningcompensation.d. All of the above.e. None of the aboveWhich of the following is more likely to occur when an entity has effective internal controls? Select all that apply. unreliable financial reporting O effectiveness of operations O compliance with laws O achieve strategic objectives O achieve operating objectives
- Who is responsible for the Governance function? a. Board of Directors b. Internal Auditors c. None of the choices d. Management e. Process Ownersshould corporate governance practices be included as part of legislation or is it preferable to allow organisations to self-regulate and hence, choose their own suitable corporate governance practices and structures?How do ‘audits’ work as a corporate governance mechanism
- Which of the following is not a provision of the Sarbanes-Oxley Act as to the responsibility of a company's top managers? Question 3 options: They must establish formal procedures to receive, retain, and address any information that may affect the company's accounting. They must certify that they are primarily responsible for the company's internal controls over financial reporting. They must certify that the company's financial statements are fairly presented. They may deny responsibility for certain financial reporting matters if they are not knowledgeable about the proper accounting procedures for those transactions.Question 2 (i) Which one of the following statements is true?A. Conflicts of interests between management and stakeholders can result inbankruptcies or major frauds.B. It is the responsibility of internal audit to design and monitor controls that reasonablyassure that objectives are met.C. Corporate governance addresses the principal–agent relationship betweenmanagement and directors on the one hand and the relationship between the companyand suppliers on the other.D. The management board approves the mission, vision, objectives and strategy of theentity. (ii) The agency theory stipulates that:A. Self-interest plays no role and is irrelevant.B. The management board is the agent.C. The management board is the principal.D. Information asymmetry is absent in corporate governance. (iii) Which of the following is not something performed by the company’s board?A. Day to day supervision of the sales manager.B. Appoints the corporate officers responsible for managing the company…Which of the following nature of corporate governance damages the financial stability of the business? O a. It is structured ambiguously. Ob. It is compliant with the formal laws. Oc.it is adhering to the ethical standards. O d. It is adhering the best business practices.