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Corporate Governance Essentials

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Questions and Answers

What is the primary aim of corporate governance initiatives?

Eliminate competition

Ensure entities are run in the interests of shareholders and the community (correct)

Maximize profits for executives

Increase the lifespan of a company

Corporate governance is only important for privately owned companies.

False

Name one responsibility of directors in corporate governance.

To direct and control the company effectively.

Good internal _____ is a necessity in corporate governance.

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

Match the following elements of corporate governance with their descriptions:

<p>Responsibilities of directors = Setting direction and strategy Board composition = Ensuring diverse skill sets and perspectives Internal control = Maintaining accuracy in financial reporting Audit committee = Overseeing the financial audits and related financial reporting</p> Signup and view all the answers