The 4 Ps of Corporate Governance Quiz
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Questions and Answers

Which one of these is NOT one of the 4 Ps of Corporate Governance?

  • People
  • Profit (correct)
  • Process
  • Purpose

    • What is the purpose of corporate governance?

  • To align the interests of stakeholders (correct)
  • To achieve financial viability
  • To analyze performance
  • To create a system of rules and practices

    • What is the role of the Board of Directors in corporate governance?

  • To analyze performance
  • To achieve financial viability
  • To conduct all business and control properties (correct)
  • To foster the long-term success of the corporation

    • What does good corporate governance lead to?

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

    What is the principle regarding the board in the governance responsibilities?

    <p>The board should be competent and working</p> Signup and view all the answers

    What does the Code of Corporate Governance for Publicly Listed Companies refer to when mentioning 'Board of Directors'?

    <p>Board of Trustees</p> Signup and view all the answers

    What should the composition of the Board include?

    <p>Directors with a collective working knowledge</p> Signup and view all the answers

    What should the Board ensure in terms of competence and expertise?

    <p>An appropriate mix</p> Signup and view all the answers

    What should Board committees focus on?

    <p>Audit, risk management, related party transactions, and other key corporate governance concerns</p> Signup and view all the answers

    What should be contained in a publicly available document for all committees?

    <p>Committee Charter</p> Signup and view all the answers

    How many independent directors should the Board have according to the text?

    <p>At least three</p> Signup and view all the answers

    How often should the Board conduct a self-assessment of its performance?

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

    According to Principle 8, what should the company establish?

    <p>Corporate disclosure policies and procedures</p> Signup and view all the answers

    What should the Code of Business Conduct and Ethics provide?

    <p>Standards for professional and ethical behavior</p> Signup and view all the answers

    According to Principle 9, what should the Board establish?

    <p>Standards for the appropriate selection of an external auditor</p> Signup and view all the answers

    What should the Audit Committee have a robust process for?

    <p>Approving and recommending the appointment, reappointment, removal, and fees of the external auditor</p> Signup and view all the answers

    According to Principle 10, what should the company ensure?

    <p>Disclosure of material and reportable non-financial and sustainability issues</p> Signup and view all the answers

    What should the Board have a clear and focused policy on?

    <p>Management of economic, environmental, social and governance (EESG) issues</p> Signup and view all the answers

    According to Principle 11, what should the company maintain?

    <p>A comprehensive and cost-efficient communication channel</p> Signup and view all the answers

    What should the company include as channels of communication?

    <p>Media and analysts’ briefings</p> Signup and view all the answers

    Study Notes

    Corporate Governance

    • Not one of the 4 Ps of Corporate Governance: None mentioned in the text

    Purpose of Corporate Governance

    • To ensure good governance, leading to long-term sustainability and prosperity

    Role of the Board of Directors

    • Responsible for corporate governance

    Benefits of Good Corporate Governance

    • Leads to long-term sustainability and prosperity

    Governance Responsibilities

    • Principle regarding the board: Not specified

    Board of Directors

    • Referred to in the Code of Corporate Governance for Publicly Listed Companies

    Board Composition

    • Should include a mix of competent and expert individuals

    Board Competence and Expertise

    • Ensure members have relevant competence and expertise

    Board Committees

    • Focus on specific areas, e.g. Audit Committee

    Committee Documentation

    • Contained in a publicly available document for all committees

    Independent Directors

    • Board should have a mix of independent directors, exact number not specified

    Board Self-Assessment

    • Conduct a self-assessment of its performance periodically, frequency not specified

    Principle 8: Risk Management

    • Company should establish a risk management system

    Code of Business Conduct and Ethics

    • Should provide guidance on ethical behavior

    Principle 9: Nomination and Remuneration

    • Board should establish a nomination and remuneration committee

    Audit Committee

    • Should have a robust process for evaluating financial reporting and internal controls

    Principle 10: Transparency and Disclosure

    • Company should ensure timely and accurate disclosure of information

    Board Policy

    • Should have a clear and focused policy on corporate governance

    Principle 11: Stakeholder Engagement

    • Company should maintain channels of communication with stakeholders

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    Description

    Test your knowledge on the 4 Ps of Corporate Governance! This quiz will assess your understanding of the key components - People, Purpose, Process, and Performance - that are essential for effective governance within organizations. Challenge yourself and see how well you grasp these fundamental concepts.

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