The board of directors' continuum reflects the degree of involvement (from high to low) in the strategic management process. Boards can range from phantom boards with no real involvement to catalyst boards with a very high degree of involvement. Passive phantom or rubber stamp boards typically never initiate or determine strategy unless a crisis occurs. Show Nominal participation reflects a board involved to a limited degree in the performance or review of selected key decisions, indicators, or programs of management. An active board approves, questions, and makes final decisions on mission, strategy, policies, and objectives. It also has active board committees and performs fiscal and management audits. The catalyst board takes the leading role in establishing and modifying the mission, objectives, strategy, and policies. It also has a very active strategy committee. Students also viewed1 Specific corporate governance practices for publicly traded U.S. corporations are mandated by the Uniform Corporate Governance Act. a. b. B 2 Which of the following is true regarding a corporation's board of directors? a. b. c. d. A 3 The boards of directors of companies that are listed on the NYSE or NASDAQ must be composed of a majority of independent directors. a. b.
A 4 According to the OECD Principles of Corporate Governance, an entity's corporate governance framework should: a. b. c. d. A 5 Companies with securities listed on the NYSE must have an internal audit function. a. b. A 6 The purpose of corporate governance is to: a. b. c. d. C 7 Under NYSE rules, a listed company's board of directors must have which of the following committees? a. b. c. d. B 8 Which of the following parties is responsible for directing employees to carry out business activities and managing their performance of those tasks? a.
b. c. d. D 9 According to the requirements of the Sarbanes-Oxley Act, which of the following parties is responsible for establishing procedures to handle complaints regarding irregularities in a publicly traded company's accounting methods, internal controls, or auditing matters? a. b.
c. d. A 10 The _______________ provide(s) guidance for policy makers in evaluating and improving the legal, regulatory, and institutional framework for corporate governance. a. b. c. d. D 11 Both the NYSE and NASDAQ have rules requiring listed companies to adopt and disclose a code of conduct for all employees and to report any waivers of the code for directors or officers. a. b. A 12 Specific corporate governance requirements for publicly traded U.S. corporations are considered optional and are left to the discretion of the corporation's board of directors. a. b. B 13 Good corporate governance practices: a. b. c. d. B 14 Which of the following parties is responsible for overseeing business operations by assessing the strategy and underlying purpose of management's decisions and actions? a. b. c. d. A 15 The term _______ refers to the oversight responsibilities of different parties for an organization's direction, operations, and performance. a. b. c. d. C 16 Effective corporate governance is the foundation of fraud risk management. a. b. A 17 The OECD Principles of Corporate Governance are required to be implemented by all corporations in the jurisdictions that have officially adopted them. a. b. B 18 Effective corporate governance practices are most important for which of the following organizations? a. b. c. d. C 19 Good corporate governance is based on a framework that: a. b. c. d. B 20 An entity's corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organization and lays down the rules and procedures for organizational decision-making. a. b. A 21 Who is responsible for holding the board of directors accountable for proper governance and oversight? a. b. c. d. A 22 The Organisation for Economic Co-operation and Development has developed a detailed corporate governance policy that can be effectively applied to all organizations. a. b.
B 23 Which of the following is not one of the core principles of sound corporate governance? a. b. c. d. C 24 Under the Sarbanes-Oxley Act, members of the audit committee can be paid for consulting work done for the company, but only if the transaction is documented and conducted at arm's length. a. b. B 25 The Sarbanes-Oxley Act requires that each member of a company's audit committee be independent with respect to the company. Which of the following is not a violation of the independence requirements for audit committee members? a. b. c. d. B 26 Ownership of an equity share in a publicly traded company provides an investor with a right to certain information about the corporation and a right to influence the corporation through participation in general shareholder meetings and by voting. a. b. A 27 Which of the following is a responsibility of the audit committee under the Sarbanes-Oxley Act? a. b. c. d. D 28 The Treadway Commission made which of the following recommendations to reduce the probability of fraud in financial reports? a. b. c. d. A 29 The Treadway Commission was established with the purpose of defining the responsibility of the auditor in preventing and detecting fraud. a. b. A Which of the following are the duties of the board of directors?The Role of the Board of Directors. 1) Recruit, supervise, retain, evaluate and compensate the manager. ... . 2) Provide direction for the organization. ... . 3) Establish a policy based governance system. ... . 4) Govern the organization and the relationship with the CEO.. What is the role of the board of directors quizlet?One of the most important responsibilities that the board of director has is to effectively recruit and work with management that will lead the business. Also they approve all decisions that might affect the long term performance of the corporation.
What are the three primary functions of a board of directors?Just as for any corporation, the board of directors of a nonprofit has three primary legal duties known as the “duty of care,” “duty of loyalty,” and “duty of obedience.”
|
Which of the following is among the major duties of a board of directors quizlet?
zusammenhängende Posts
Urheberrechte © © 2024 de.ketajaman Inc.
