Question Three: (10 marks) (A1, C1, C2) (Answer any FIVE) 1. Explain what is meant by corporate governance? Why do we need corporate governance? (2 marks) 2. What are the advantages of good corporate governance? (2 marks) 3. What do you mean by Audit committee? (2 marks) 4. What is the role of Audit Committee in CG? (2 marks) 5. There are six kinds of capitals used in IR framework. Name 6 capitals and explain any one briefly. (2 marks) 6. What do you mean by ESG Index? What information it supplies? (2 marks) 7. Explain the term "Comply or Explain". How it is used in Bahrain CG code? (2 marks) 8. There are two school of thoughts of CG: One is rules based and other is principles based. Compare and contrast both thoughts. (2 marks)