CHAPTER 8 : CORPORATE GOVERNANCE (PSP_DAT5BJune2020)
CHAPTER 8 : CORPORATE GOVERNANCE (PSP_DAT5BJune2020)
Hai everyone, welcome to our blog😄
We are from group 8 and will discuss about Chapter 8 in Audit and Assurance which is Corporate Governance.
Our members :
- Nursyamira Izzati Binti Mohd Rosdi (10DAT18F1008)
- Nur Arisha Binti Zakaria (10DAT18F1038)
- Sabarreena Priyah A/P Murugesan (10DAT18F1058)
- Siti Nur Izza Binti Mohamed (10DAT18F1098)
- Suthashne A/P Seran (10DAT18F1102)
- Nurul Nabilah Binti Abdullah (10DAT18F1501)
You can go watch our live discussion in facebook page of MyPoly Audit👇
We have prepared a powerpoint about our topic, you can read this anytime😆
For additional and more detailed information, you can click these two urls and go watch them on youtube😻
TEST YOUR MIND TIME😝👀
1. What is the definition of corporate governance?
2. List down the core principles of Malaysian Code on Corporate Governance 2012.
3. What are the elements of Corporate Governance?
4. Give the roles of an audit committee.
5. List two things that the chairman of an audit committee should ensure.
6. Give three main advantages of having an audit committee.
7. Explain the disadvantages of an audit committee.
You can find the answers in the textbook Principles of Auditing, GOODLUCK!💪
Thank you everyone for your time💗
Comments
1) Corporate governance is the collection of mechanisms, processes and relations used by various parties to control and to operate corporations.
2)Principle 1 :establish clear roles and responsibilities
principle 2: strengthen composition
principle 3:reinforce independence
prinicple 4: foster commitment
principle 5: uphold intergrity in financial reporting
Principle 6: recognize and manage risks
principle 7: ensure timely and high quality disclaimer
principle 8: strengthen relationship between (a) company and shareholders
3 ) 1. Good board Practice
2. Disclosure and transparency
3. Legal compliance
4. Shareholder rights
5. Control environment
4)1. Corporate governance
2. Ethics
5)a) The audit committee is fully informed about significant matters related to the company's audit and its financial statements, and addresses these matters.
(b) The audit committee appropriately communicates its insights, views and concerns about relevant transactions and events to the internal and external auditors.
6)1. Provide actionable insights to oversee and improve financial practices and reporting.
2. Create and maintain effective anti-fraud programs.
3. Enhance the internal audit function.
7) People perceive that an audit committee aims to find faults or the mistakes committed by the management, thus fear increases