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Question 14 (3 points) Which of the following is not an appropriate governance role for an organization's board of directors? Establishing broad boundaries of conduct, outside of which the organization should not operate. Evaluating and approving strategic objectives. Influencing the organization's risk-taking philosophy. Providing assurance directly to third parties that the organization's governance processes are effective. Question 4 (3 points) Alabama Power sells electricity to commercial customers and is a member of an industry association that provides guidance to electric utilities, lobbies on behalf of the industry, and facilitates sharing amount its members. From Alabama Power's perspective, which type of stakeholder is the electric association? Not a stakeholder. Influences company policies and decisions. Directly involved in the operation of the company. Interested only in the long term success of the company. Match the key business event with the resulting legislation/guidance. 1. The financial crisis in late 1007 and 2008 helped fuel a global recession and failure of several well known companies. Sarbanes-Oxley Act of 2002. > 2. Bankruptcy and fraud at major U.S. corporations (i.e. Enron and World- Com). Foreign Corrupt Practices Act of 1977. > > Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. 3. In the aftermath of the Watergate investigation at the beginning of the 1970s, over 450 American companies were reported to have paid bribes or made questionable payments to foreign government officials or political parties