11)Founded in 1967, Grupo ISA is Colombias largest energy transport company. ISA attaches great importance to its shareholders. On 15 November 2001, it adopted Corporate Governance Code based on international standards and aimed at ensuring the ethical integrity of the company and proper management of the companys affairs. SAs Board of Directors has seven members. Each director is elected based on aptitude, knowledge, experience and leadership criteria. . All Board members and their representatives attend meetings. Which ONE of the following statement is untrue regarding international code of corporate governance?

Remuneration committee should not include nonexecutive directors

At least half of the board should comprise non-executive directors

The role of chairman and chief executive officer should be separated

The nomination committee should appoint directors every three years

12)

Who takes the responsibility to review the companys internal control and risk management system?

Shareholders

Audit Committee

Board of Directors

None of the options