Describe the importance of an active board of directors audit committee to an organisation.

Q: Establishing and maintaining an internal control structure is the responsibility of the: Select…

A: Internal control : Internal controls are intended to safeguard  assets of business  provide…

Q: From the options enunciated here under identify the external user of financial information. a.…

A: Users of financial information are categorised into 2 types external and internal users…

Q: Assess the value of an organization's internal audit function to its overall success

A: Accounting is described as the process of evaluating and analyzing financial statements and other…

Q: what does the success of the board of directors in fulfilling its oversight responsibilities depend…

A: Answer: The board of directors of any company are formed so that to check the operations of the…

Q: Who appoints the internal auditor? a. Management b. Government c. External stakeholders d. Members

A: Internal auditor performs internal audit functions.

Q: Board composition in comporate governance

A: The question is based on the concept of the concept corporate governance and its management in a…

Q: Based on Pak Elektron Ltd.'s (PEL) annual report of 2017 explain in your own words the following…

A: a) The role of audit and HRM committee is -  1) the primary purpose of audit and HRM committee - i)…

Q: Why is an active board of directors’audit committee important to an organisation.

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: Board of Director

A: Correct Answer :- D Board  of Director.

Q: What are the qualifications of a member of the Board of Directors?

A: Associations of various types from little charities to mega enterprises are administered by a top…

Q: Identify the need for and state TWO of the major issues the Internal Audit Charter must cover in a…

A: The Internal Audit Charter is a Formal doc that states the purpose, responsibility, authority and…

Q: The foundation for building an ethical organisation is corporate governance. Governance should…

A: Corporate governance refers to the concept of a compiled set of rules and regulations which are…

Q: Explain the principles of agency theory and discuss the ethics of directors being able to decide…

A: The directors of the company will take care of any important decisions in the company. The company…

Q: What factors improve the effectiveness of a board of directors?

A: Board of Directors: The people appointed on behalf of shareholder and equity investors to ensure…

Q: briefly describe the responsibilities of the Board of Director

A: Governance committee is for looking governance in company. Board of directors who guide and govern…

Q: As the Director of Audit of a multinational company, what role will you play in ensuring that good…

A: It is true that the corporate governance principles are universal for every organization but every…

Q: Identify and explain the key models of Corporate Governance

A: There are mainly three models of corporate governance : 1. The Anglo-US model 2. The German model 3.…

Q: why is an active board of directors audit committee important to an organization?

A: Audit: An audit is an organized and self-regulated inspection of books of accounts. This inspection…

Q: should corporate governance practices be included as part of legislation or is it preferable to…

A:

Q: Expound this statement: The Board should adopt a Code of Business Conduct and Ethics, which would…

A: A code of ethics is a collection of rules that professionals must adhere to to conduct business in a…

Q: Prepare a blueprint for the board of Electronic Boards plc, outlining the main factors which they…

A: The process of creating and organizing the goals by identifying, analyzing, and communicating…

Q: Under the Public Financial Management Act, Audit Committees are required to play important roles in…

A: It is a system that includes the relationship and accountability of shareholders, the laws and…

Q: Who has power to decide the external auditor's remuneration?Single choice. Shareholders can…

A: External auditor is entrusted with the task of conducting a detailed examination of financial…

Q: Governance issues include the following except; Select one: a. Disclosure and transparency b. Role…

A: The term Governance refers to process which is designed to ensure the following quality in the…

Q: how we share our findings and concerns with the board of directors in internal control system?

A: Management is in-charge of the establishment and maintenance of the internal audit function. An…

Q: we discussed the role of an active board of 'directors' audit committee from different aspects. In…

A: The primary function of the audit committee of the company is to provide oversight of the financial…

Q: The key independent membership with the experience, skills, commitment and understanding focus of…

A: Solution: Audit committee must be composed of correct persons with the correct mindset (commitment)…

Q: What are the responsibilities of the Board of Directors for the financial statements? Or…

A: Financial statements are important because they provide vital information related to the financial…

Q: Why is an independent audit committee important to a company?

A: Auditing:   In auditing, auditors verify the correctness and fair presentation of financial…

Q: escribe the necessity, purpose and potential makeup of a board of director

A: For public companies having a proper board of directors is important. This is because public…

Q: What measures does the governance board can put into place to establish ethical expectations.

A: Corporate governance is established by an organization where rules are set to operate and regulate…

Q: Discuss the problems associated with initiatives that been put forward to ensure independence of…

A: SOLUTION- To ensure the audit committee's independence, it's a number one application for the bulk…

Q: Detail the roles of non executive director , chief finance officer (CFO), Audit Committee and…

A: Roles of Non-executive director: The non-executive director is responsible for reviewing and…

Q: While listing the functional Committees of the Board and explaining their significance, explain the…

A:

Q: Which of the following is the objective of ISA 700? O a. To form a decision on management report O…

A: This ISA 700 addresses the issues that an auditor must consider when providing an opinion on a…

Q: The committee of the board of directors who is in charge of monitoring circumstances that might…

A: In an organisation, various type of committees are being made and every committe has its purposes,…

Q: What is the significance accounting course to  “Governance, Business Ethics, Risk Management, and…

A: Answer: Accounting has been worldwide followed practice to record day to day transactions. It has…

Q: The scope of external audit is decided by the: a. Shareholders b. Government c. Management d. Audit…

A: Audit means checking and authenticating the financial statements of the company whether they are…

Q: Define board of directors

A: Corporate: It can be defined as an organization consisting of a group of people and is authorized by…

Q: What rule/procedure must be observed so that formal meetings like that of the Board of Directors or…

A: Here given the details of the rules and procedures which are involved to arrange the meeting…

Q: Identify and describe the major corporate governance models, using a suitable example in each…

A: The major corporate governance models, using a suitable example in each instance:

Q: Who among the following should ensure that all directors are properly briefed on issues arising at…

A: The answer are as follows

Q: Who should set accounting standards? A government agency or private body such as the FASB?

A: Accounting standards are the rules and provisions that guide the manner in which accounting reports…

Q: the role of the Chief Audit Executive?

A: A chief audit executive or the head of the internal audit function in a company is a staff from the…

Q: Explain the importance of an active board of 'directors' audit committee to an organisation. (LONG…

A: The audit committee is the board of directors' independently chartered panel. The audit committee…

Managing Agency Conflict

Conflict is defined as an act of disagreement between two parties caused by uncertainties between them. The conflict has a negative outcome that affects both parties involved in the argument. Conflict arises when the parties' thoughts do not align or go in opposite directions. Conflicts have negative consequences for both the individual and the business. As a result, it should be avoided.