Corporate Accountability and Board Role Quiz
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Questions and Answers

Which of the following is NOT a characteristic of good governance?

  • Transparency
  • Participation
  • Corruption (correct)
  • Rule of Law

    • Which of the following is NOT a context in which governance can be used?

  • Local governance
  • National governance
  • International governance
  • Educational governance (correct)

    • What is the role of an independent judiciary in good governance?

  • To make policies and decisions
  • To enforce laws impartially (correct)
  • To provide information to citizens
  • To serve the needs of stakeholders

    • What is the role of the mainstream media in promoting good governance?

    <p>To provide information to citizens</p> Signup and view all the answers

    What is the purpose of the House of Representatives in the Philippines?

    <p>To represent people per district</p> Signup and view all the answers

    Which department in the Philippines is responsible for healthcare?

    <p>DOH</p> Signup and view all the answers

    Which one of these is a key requirement of good governance?

    <p>Effectiveness</p> Signup and view all the answers

    What is the purpose of corporate governance?

    <p>To facilitate effective management</p> Signup and view all the answers

    What does transparency and full disclosure in corporate governance refer to?

    <p>Informing stakeholders about the company's activities</p> Signup and view all the answers

    What is one of the basic principles of effective corporate governance?

    <p>Accountability</p> Signup and view all the answers

    What does good corporate governance aim to ensure?

    <p>Transparency and full disclosure</p> Signup and view all the answers

    What is a key characteristic of a society with good governance?

    <p>Equity</p> Signup and view all the answers

    Which of the following is NOT a responsibility of the Board according to the text?

    <p>Appointing and removing senior management</p> Signup and view all the answers

    Which of the following best describes corporate accountability?

    <p>The obligation to explain the company's actions</p> Signup and view all the answers

    What is one of the best practice recommendations for structuring the board?

    <p>Having a balance of independence, diversity, and skills among directors</p> Signup and view all the answers

    What does the board promote according to the text?

    <p>Ethical and responsible decision-making</p> Signup and view all the answers

    Which of the following is NOT addressed by the ethics and operating principles?

    <p>Corporate opportunities</p> Signup and view all the answers

    What is one of the responsibilities of the organization's senior official according to the text?

    <p>Ensuring widely accepted standards of behavior</p> Signup and view all the answers

    Who makes recommendations on the Bank's risk appetite framework, tolerance, limits, and mandates?

    <p>The ERC</p> Signup and view all the answers

    What is the purpose of the Bank's remuneration policies?

    <p>To encourage enhanced performance</p> Signup and view all the answers

    What is the role of the chief executive officer and the chief financial officer according to the text?

    <p>To supply the Board with necessary information</p> Signup and view all the answers

    What should the board establish in relation to remuneration according to the text?

    <p>A remuneration committee</p> Signup and view all the answers

    What is the purpose of the Bank's risk assessment according to the text?

    <p>To monitor and understand the risk profile of the Bank</p> Signup and view all the answers

    What are the legal requirements that the Bank is subject to according to the text?

    <p>Contractual requirements and banking practice</p> Signup and view all the answers

    Which one of these is a best practice recommendation for promoting timely and balanced disclosure?

    <p>Design and disclose a communications strategy to promote effective communication with shareholders and encourage effective participation at general meetings.</p> Signup and view all the answers

    Which one of these is NOT a responsibility of the board according to the text?

    <p>Ensuring compliance with IFRS.</p> Signup and view all the answers

    Which one of these is a key requirement of good corporate governance?

    <p>Establishing a code of conduct to guide key executives.</p> Signup and view all the answers

    Which one of these is a best practice recommendation for structuring the audit committee?

    <p>All of the above.</p> Signup and view all the answers

    Which one of these is a responsibility of the organization's senior official according to the text?

    <p>Establishing a sound system of risk oversight and management and internal control.</p> Signup and view all the answers

    Which one of these is a best practice recommendation for facilitating the effective exercise of shareholders' rights?

    <p>All of the above.</p> Signup and view all the answers

    What is the purpose of establishing a code of conduct for key executives?

    <p>To maintain confidence in the company's integrity</p> Signup and view all the answers

    What should the chief executive officer and chief financial officer do in relation to the company's financial reports?

    <p>State in writing that the financial reports present a true and fair view</p> Signup and view all the answers

    How should the audit committee be structured?

    <p>Only non-executive or independent directors, with an independent chairperson and at least three members</p> Signup and view all the answers

    What should be included in the bank's communications strategy with shareholders?

    <p>Promote effective communication and encourage effective participation at general meetings</p> Signup and view all the answers

    What is the responsibility of the board in relation to risk management?

    <p>Review the adequacy and effectiveness of the bank's risk management strategies</p> Signup and view all the answers

    What is the purpose of the enterprise risk management policy and risk appetite statement?

    <p>To govern the manner in which risk is managed in the group</p> Signup and view all the answers

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