Question
The following actions were observed last year at our corporation: 1. The Board approved the sale of one of the company's properties in Cebu City
The following actions were observed last year at our corporation:
1. The Board approved the sale of one of the company's properties in Cebu City to Mrs D. It was found out later that she was one of the daughters of one of our directors.
2. A Party Committee in the board was created by the board itself to organize and manage all parties and outings of the company.
3. The Board issued instructions to the Audit Committee to exclude the Production Department from any audit contending that the committee is illiterate in terms of standards and processes involved in production.
Identify if the actions listed above comply with our governance code and if not complied, write the bases for non-compliance.
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