Question 3 (25 Marks) These crises induced multiple responses that have been considered which include the Walker and Turner reviews among many others. You are required to select a response most appropriate for this situation and discuss how it could have prevented the scandal. You are also required to discuss the two main lessons learnt and evaluate which one might have been more prevalent in this case.

Question 4 In terms of section 66 of the Companies Act, the business and affairs of a company must be managed by or under the direction of its board, which has the authority to exercise all of the powers and perform any of the functions of the company. Analyse and discuss the key duties of the board of directors and evaluate based on each area if the board has been effective.

4.1 (20 marks) It appears that Tongaat Hulett is making use of a hybrid regulation to manage personality risks in corporate governance. Discuss the two approaches being utilised.