Podcast
Questions and Answers
What is the main purpose of a Code of Business Conduct and Ethics for corporate boards?
What is the main purpose of a Code of Business Conduct and Ethics for corporate boards?
- To establish hiring criteria for new directors
- To ensure competitive advantages in the market
- To provide standards for professional and ethical behavior (correct)
- To outline financial performance targets
What does Ethics Intelligence enable internal auditors to do?
What does Ethics Intelligence enable internal auditors to do?
- Develop new business strategies
- Implement cost-cutting measures
- Identify financial discrepancies in reports
- Discern ethical implications in issues (correct)
When faced with an ethical dilemma, what is an appropriate course of action?
When faced with an ethical dilemma, what is an appropriate course of action?
- Make a decision based solely on personal interests
- Seek advice from a professional body or legal counsel (correct)
- Ignore the issue and wait for it to resolve itself
- Consult with colleagues for informal guidance
Why is it important for directors to apply high ethical standards?
Why is it important for directors to apply high ethical standards?
How must corporations vested with public interest report their directors' performance?
How must corporations vested with public interest report their directors' performance?
What is the primary responsibility of the Chief Audit Executive (CAE)?
What is the primary responsibility of the Chief Audit Executive (CAE)?
Which reporting structure is typical for the Chief Audit Executive (CAE)?
Which reporting structure is typical for the Chief Audit Executive (CAE)?
What should be considered when establishing corporate governance policies?
What should be considered when establishing corporate governance policies?
What is one of the primary purposes of the Code of Ethics in internal auditing?
What is one of the primary purposes of the Code of Ethics in internal auditing?
What does the term 'enterprise risk management (ERM)' refer to in the context of the CAE's responsibilities?
What does the term 'enterprise risk management (ERM)' refer to in the context of the CAE's responsibilities?
Which of the following components is NOT included in the Code of Ethics for internal auditing?
Which of the following components is NOT included in the Code of Ethics for internal auditing?
What aspect should an effective performance management framework take into consideration?
What aspect should an effective performance management framework take into consideration?
Which role does the Board of Directors (BOD) serve in a company?
Which role does the Board of Directors (BOD) serve in a company?
What does the integrity of internal auditors establish in corporate governance?
What does the integrity of internal auditors establish in corporate governance?
Which principle requires internal auditors to refrain from being influenced by personal interests?
Which principle requires internal auditors to refrain from being influenced by personal interests?
What is the principal-agent relationship in corporate governance primarily concerned with?
What is the principal-agent relationship in corporate governance primarily concerned with?
What does the Board Charter provide for directors in a corporation?
What does the Board Charter provide for directors in a corporation?
Which principle emphasizes the importance of respecting the value and ownership of information in corporate governance?
Which principle emphasizes the importance of respecting the value and ownership of information in corporate governance?
In the context of corporate governance, what does competency refer to for internal auditors?
In the context of corporate governance, what does competency refer to for internal auditors?
How should the Board Charter be made available to the public?
How should the Board Charter be made available to the public?
What is the primary rule of the Trust Fund Doctrine in relation to corporate governance?
What is the primary rule of the Trust Fund Doctrine in relation to corporate governance?
What is a primary function of corporate governance?
What is a primary function of corporate governance?
Which committee is NOT commonly found within a corporation's governance structure?
Which committee is NOT commonly found within a corporation's governance structure?
What characteristic should directors exhibit to reinforce board independence?
What characteristic should directors exhibit to reinforce board independence?
Which of the following actions is suggested for directors to ensure effective performance?
Which of the following actions is suggested for directors to ensure effective performance?
How should board performance be assessed according to the Corporation Code?
How should board performance be assessed according to the Corporation Code?
What is a potential ethical threat to board independence?
What is a potential ethical threat to board independence?
Which of these practices supports fostering board commitment?
Which of these practices supports fostering board commitment?
What type of committee is responsible for overseeing financial reporting practices?
What type of committee is responsible for overseeing financial reporting practices?
What is the primary purpose of governance in an organization?
What is the primary purpose of governance in an organization?
Which statement best describes corporate governance?
Which statement best describes corporate governance?
What does the 'Comply or Explain' approach entail?
What does the 'Comply or Explain' approach entail?
What is one of the key roles of the Board of Directors (BOD)?
What is one of the key roles of the Board of Directors (BOD)?
Which of the following is NOT typically a responsibility of the Board of Directors?
Which of the following is NOT typically a responsibility of the Board of Directors?
According to corporate governance principles, what is expected from the remuneration of key officers and directors?
According to corporate governance principles, what is expected from the remuneration of key officers and directors?
What is the purpose of a succession planning program in corporate governance?
What is the purpose of a succession planning program in corporate governance?
What does the 'Principle of Proportionality' refer to in corporate governance?
What does the 'Principle of Proportionality' refer to in corporate governance?
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