While the corporate Governance guidelines and the agency theory require that the roles of chairman and the CEO’s to be separated, stewardship theory advocates that the double edged sword serves better. Discuss citing the advantages and disadvantages of each, in reference to the audit quality of an organization.
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While the corporate Governance guidelines and the agency theory require that the roles of chairman and the CEO’s to be separated, stewardship theory advocates that the double edged sword serves better. Discuss citing the advantages and disadvantages of each, in reference to the audit quality of an organization.
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- Explain FOUR (4) theories in corporate governance, and differentiate the functions of a board in different theories. Instruction: Must be in essay form, and must reached 900 words.In relation to Corporate Governance, select the most accurate statement: Corporate Governance refers to... Select one: 1.the need for companies to be managed in a way that is transparent, and ensure accountability for wrongdoings 2.All of the above 3.the need to shift the focus of corporate behaviour, from being purely focused on protecting the interests of company shareholders, to ensuring protective measures are taken to benefit all stakeholders of the company 4.None of the above 5.the way companies are directed and managed to ensure that companies are controlled in a manner that most efficiently protects and promotes the interests of their participantsThe following article examines the qualities of directors and their impact on board suffi ciency. You can read and access the article here: Hambrick, DC, Misangyi, VF & Park, CA 2015, ‘The quad model for identifying a corporate director’s potential for effective monitoring: Toward a new theory of board sufficiency’. Academy of Management Review, vol. 40, no. 3, pp. 323–344. Question 1-Please read the article and write down four key findings from the study how governance failures can be reduced. Question 2-Design a pro-forma checklist for the appointment of a director, identifying the core competencies needed and outlining personal attributes that would be desirable for the appointment.
- 1.What steps would you think are appropriate to attempt to develop greater levels of integrity in non- executive directors? 2. List models of corporate governance and discuss the role of employees in corporate decision making.1- “One way of achieving good corporate governance is to ensure the independence of non-executives sitting on the board of directors.” (Anonymous). Discuss the above statement in the light of the empirical evidence on the impact of independent directors on firm performance.2- Contrast the advantages and disadvantages of single-tier boards with those of two-tier boards.1. Explain FOUR (4) theories in corporate governance, and differentiate the functionsof a board in different theories.2. Discuss how sound corporate governance provides the basis for a healthycorporation, and whether financial indicators are the only reliable measurement of corporate performance.3. Based on the Companies Act 2016, discuss the difficulties in the process ofmonitoring directors in discharging their duties. Illustrate with examples. *Must be in essay form, words number: 1000-1500 words*
- Please no written by hand solution According to an opinion column in the Wall Street Journal, "Directors need to be held more accountable when they fail to set the proper tone at the top, and right now there is almost no consequence for most governance failures."Source: Ronald Barusch, "CBS and the Need to Hold Directors Accountable," Wall Street Journal, September 16, 2018. Part 2 a. What is the key principalagent problem that exists in some corporations? A. The firm's top managementthe agentsmay pursue their own interests rather than the interests of the firm's customersthe principal. B. The firm's top managementthe principalmay pursue their own interests rather than the interests of its workersthe agents. C. The firm's top managementthe agentsmay pursue their own interests rather than the interests of its shareholdersthe principal. D. The firm's shareholdersthe principalmay pursue their own interests rather than the interests of the firm's top managementthe agents.…Corporate raiders may now style themselves as "shareholder activists" but firms are no less worried. .Mr Bilzerian describes American corporate management in the 1980s as "uniformly horrible.". Companies had no regard for their shareholders, he says: "In 1985, Mr Icahn took over Trans World Airline, the now defunct American airline. He loaded it with debt, sold its most valuable flight routes and ground the airline into bankruptcy. He acquired a reputation of a corporate raider. By undertaking a hostile takeover, he generated substantial returns on his investments. A few high-profile raiders became famous in the 1980s making big profits for themselves but causing unrest and unemployment. Based on the case let, explain the concept of corporate raider by explaining how they operate, underlining their motive. Are they a necessary evil?ExplainAs part of their Corporate Governance role, Boards of Directors are responsible for the performance of the organization as well as conformance to various rules and regulations as required by governmental agencies. Some analysts believe that Boards should focus 70% of their time on Conformance and 30% on performance. Others believe that Boards should focus 70% of their time on performance and 30% on conformance. Using 500 words or more explain which of the two approaches you believe to be more beneficial, giving your reasons why?
- You are a manager in a renowned textile group; during the routine audit, you come to know some financial fraudulent activity/practice, which is very harmful for financial health of the business. You reported presented this financial malpractice to Board of Directors, Board of Directors decided to probe/investigate the matter and directed you to hire an external auditor and conduct a forensic audit. Being a manager, what qualities would you seek in external auditor to conduct a successful audit?Best practices of good corporate governance include: a. Filling the majority of board positions with the best performing managers of the firm b. Holding regular board meetings without the presence of the company's CEO c. Combining the responsibilities of the board chairperson with the chief executive officer d. Holding frequent closed board elections e. None of these are corporate governance best practicesCase: You are a qualified accountant in practice, and you lead a team providing managementconsultancy services. In recent years your practice has undertaken several assignments onmanufacturing efficiency improvements for a medium-sized, quoted group of companies. Itoperates through a number of divisions, but line responsibility appears complicated, and sosignificant control rests with four semi-autonomous regional directors. The authority of thesedirectors is enhanced by their seats on the group’s main board. You have cultivated a good working relationship with the regional director with whom you arein contact most frequently. Three weeks ago that regional director asked you to investigate, asa matter of urgency, a particular project, Project A. He had been irritated to be told, informally,of the likely deferral of the agreed delivery date for the components on this sophisticateddesign-and-build contract. Project A comes within the regional director’s responsibilityprimarily because of…