Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please solve it ASAP You are an audit manager for GTG - an audit firm based in Muscat. You have just been asked by one

image text in transcribed

Please solve it ASAP

You are an audit manager for GTG - an audit firm based in Muscat. You have just been asked by one of your existing clients, Globnet SAOG Company, for help in compliance with corporate governance guidelines because they are about to obtain a stock exchange listing. They have sent you the following information; Mr. Nasser al Kalbani is the CEO and chairman of Globnet SAOG Company. At present, the CEO is solely deciding the remuneration of all other board members. The non-executive directors of Globnet SAOG Company have recently proposed to set up an audit committee and a remuneration committee, however, Mr.Nasser al kalbani has completely denied their proposal and argued in the board meeting that there is no need for an audit committee and remuneration committee. In respect of the corporate governance of Globnet SAOG Company, (Oldentify and explain any two corporate governance weaknesses in Alibaba company, also discuss your recommendation to address the weakness. (2 marks) (ii)Do you think the proposal to set up an audit committee and remuneration committee by two non-executive directors is important? Yes/No. Also, discuss briefly the role of the audit committee.(1 mark) You are an audit manager for GTG - an audit firm based in Muscat. You have just been asked by one of your existing clients, Globnet SAOG Company, for help in compliance with corporate governance guidelines because they are about to obtain a stock exchange listing. They have sent you the following information; Mr. Nasser al Kalbani is the CEO and chairman of Globnet SAOG Company. At present, the CEO is solely deciding the remuneration of all other board members. The non-executive directors of Globnet SAOG Company have recently proposed to set up an audit committee and a remuneration committee, however, Mr.Nasser al kalbani has completely denied their proposal and argued in the board meeting that there is no need for an audit committee and remuneration committee. In respect of the corporate governance of Globnet SAOG Company, (Oldentify and explain any two corporate governance weaknesses in Alibaba company, also discuss your recommendation to address the weakness. (2 marks) (ii)Do you think the proposal to set up an audit committee and remuneration committee by two non-executive directors is important? Yes/No. Also, discuss briefly the role of the audit committee.(1 mark)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Housing Finance

Authors: Peter King

2nd Edition

0415432952, 978-0415432955

More Books

Students also viewed these Finance questions

Question

4. Does cultural aptitude impact ones emotional intelligence?

Answered: 1 week ago