Explain the key principles identified by the Basel Committee that needs to be followed to ensure sound corporate governance. Link your explanation to the practical operation of a named bank.
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Explain the key principles identified by the Basel Committee that needs to be followed to ensure
sound corporate governance. Link your explanation to the practical operation of a named bank.
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How have the corporate governance principles for banks influenced the development of corporate governance
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- Which of the following is the federal, independent agency that provides oversight of public companies to maintain fair representation of company financial activities for investors to make informed decisions? A. IRS (Internal Revenue Service) B. SEC (Securities and Exchange Commission) C. FASB (Financial Accounting Standards Board) D. FDIC (Federal Deposit Insurance Corporation)This is the independent federal agency protecting the interests of investors, regulating stock markets, and ensuring companies adhere to GAAP requirements. A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual frameworkB. Explain the key principles identified by the Basel Committee that needs to be followed to ensure sound corporate governance. Link your explanation to the practical operation of a named bank.
- Identify all the regional regulatory institutions within the CIBC FirstCaribbean International Bank regulatory framework. Which three regulators do you believe have the most significant impact on the operations of the bank? Explain your answer.Which of the following is true of financial institutions? A. Financial institutions are the regulators of interest rates and other returns in financial markets. B. Financial institutions are accountable and responsible in reporting financial information for publicly-traded corporations. C. Financial institutions are required by the Sarbanes-Oxley Act to disclose the environment-friendly measures taken by investment corporations.Identify all the regional regulatory institutions within the cibcfcib bank’s regulatory framework. Which three regulators do you believe have the most significant impact on the operations of the bank? Explain your answer.
- The primary responsibility of the board is to ensure that it develops a clear understanding of the bank’s business strategy and fundamental risks. The board also needs to ensure that: Group of answer choices C. Risks are verified through review of accounting and not economic practices. A. Risks are made transparent to stakeholders and managers. D. Both A & B B. Risks are made transparent legally through non-disclosure agreements.Discuss the development of the modern corporation in the United States, through doing so, discuss the development of accounting standards and conceptual framework. Moreover, include in your answer the importance of the conceptual framework as a theory for financial accounting standards.Which of the following is not a category of bank regulations? a. The government safety net. b. Capital requirements. c. Competition Policy. d. Chartering and examination.
- Corporate governance involves a set of relationship between a company’s management, its board, its shareholders and other stakeholders. Corporate governance also provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance are determined (OECD, 2004). Using any of the defunct banks as a case study, justify how this definition is in line or deviates from good corporate governance as exhibited by the leaderships of the bank.Discuss the Basel disintermediated bank scenario and its impact on incumbent banks’ present business models. Further, identify the areas of existing product and funding risks associated with the disintermediated bank scenario.Provide arguments for and against the proposition that a central bank should be allowed to set its own objectives.