The following information relates to Ertin plc, a fictitious company incorporated in England. Outstanding share options Basic salary Board of directors Chairman and Chief executive: Finance director: Production director: Other executive directors: Non-executive directors: HA Mefftord Mrs F M Barnfield FCCA MLT Hojjy S Lompertas PT Figler Lord Gwumba Dr P Dorecton Mrs B D Mefftord 210,000 120,000 85,000 75,000 80,000 100,000 20,000 25,000 500,000 100,000 100,000 50,000 50,000 100,000 60,000 100,000 The agenda of a board meeting of Ertin plc is as follows. Minutes of the last meeting Proposed investment in France Consideration of the remuneration of board members Proposal for the formation of an audit committee, with Mrs F M Barnfield, P T Figler and Dr P Dorecton as nominated committee members Required Identify weaknesses in the corporate governance of Ertin plc and describe what actions are required to comply with best practice.