The following incomplete sentences (when completed) relate to aspects of corporate governance: a. _____ should be supplied
Question:
The following incomplete sentences (when completed) relate to aspects of corporate governance:
a. _____ should be supplied in a timely manner with information in a form and of a quality appropriate to enable it to discharge its duties.
b. _____ should explain in the annual report their responsibility for preparing the annual report and accounts, and state that they consider the annual report and accounts, taken as a whole, to be fair, balanced, and understandable and to provide the information necessary for _____ to assess the company’s position and performance, business model, and strategy. There should be a statement by the _____ about their reporting responsibilities.
c. The board should satisfy itself that at least one member of the _____ has recent and relevant financial experience.
d. One of the main responsibilities of the _____ is to monitor and review the effectiveness of the company’s internal audit function.
e. _____ should have primary responsibility for making a recommendation on the appointment, reappointment, and removal of the external auditors.
f. The annual report should include a statement from the _____ explaining the recommendation and the reasons why the board has taken a different position, where the board does not accept the _____ recommendation on the appointment, reappointment, or removal of _____.
Step by Step Answer:
International Accounting
ISBN: 978-1260466539
5th edition
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera