CHAPTER 8 CORPORATE GOVERNANCE

CHAPTER 8 : CORPORATE GOVERNANCE
Hai, Selamat Sejahtera 😍
Kami dari  kumpulan 8 akan membentangkan topik 8 iaitu "CORPORATE GOVERNANCE"
Kerjasama anda amat dihargai ✌

DEFINITION :
Corporate governance means a system of law and sound approaches by which corporation are directed and controlled focusing on the internal and external corporate structure which the intention of monitoring the action of managements and directors and thereby mitigation agency risk which may stem from the misdeeds of corporate officers.

ELEMENTS OF EFFECTIVE CORPORATE GOVERNANCE :
  • accountability
  • transparency
  • regulatory framework 
  • business ethics social responsibility
  • administrative structures

FOR MORE INFORMATION,CHECK OUT THE VIDEO BELOW!!




"HEAD UP IN THE SUNLIGHT"

Read more:

QUESTIONS :

GROUP 1 - Define Corporate governance
GROUP 2 - List the needs of good governance
GROUP 3 - Explain effective corporate governance system
GROUP 4 - Define audit committee
GROUP 5 - List the role if audit committee
GROUP 6 - Advantage of an audit committee
GROUP 7 - List duties of audit committee

Comments

Corporate governance is the collection of mechanisms, processes and relations by which corporations are controlled and operated.
Group 7 said…
Discuss with the external auditor the nature and
scope oa the audit, ensure coordination with more
than one audit firm involved
 Review the external auditors management letters
and management respond
 Review, approve or accept any appraisal,
appointment or resignation of senior staff
members of the internal audit function
 Consider major findings of internal investigations
and management respond
 Consider the appointment of the external auditor,
Four Point O said…
1. Good board prectices
2. Control enviroment
3. Transparent disclosure
4. Well-defined shareholders
5. Board commitment
Group 5 said…
-Reviewing , with the management, the quarterly
financial statement before the submission to the
board of approvals
- Reviewing with the management, performances of
statutory and internal auditors, adequacy of the
internal control system.
- The structure of the internal audit
department,staffing,reporting structure coverage
and frequency of internal audit
- Reviewing the findings of the internal
investigations by the internal auditors into matters
Group 4 said…
Group 4
An audit committee is a committee of an organisation's board of directors which is responsible for oversight of the financial reporting process, selection of the independent auditor, and receipt of audit results both internal and external.
Group 4 said…
This comment has been removed by the author.
Gp six said…
ADVANTAGES
- strengthening the role of non-executive directors.
- strengthening the objectivity and credibility of financial report.
- strengthening the independence of the internal audit function.
- improving the quality of accounting and auditing functions.
- better monitoring of compliance with standards,laws and regulations.
-improve communication between director, auditor and management.
4FaltToBe said…
Effective corporate governance requires dedicated focus on the part of directors, the CEO and senior management to their own responsibilities and, together with the corporation's shareholders, to the shared goal of building long-term value.

Popular posts from this blog

CHAPTER 4: AUDITING IN CIS ENVIRONMENT (PSP_DAT5BJune2020)

CHAPTER 2 : AUDIT EVIDENCE