QUESTION 1 (20 Marks) 1.1 What is corporate governance, and what role does a corporation's board of directors play in corporate governance? (4) 1.2 Identify and explain two of the specific ethical principles of corporate governance. (4) 1.3 Outline what a director's duty of skill and care entails. (4) 1.4 Summarise the main principles relevant to corporate governance in the public sector. (4) 1.5 Name EIGHT benefits of having a good corporate governance system in place. (4)