Cynthia Claude Nkono Moanang 1009040 CORPORATE GOVERNANCE AND BUSINESS ETHICS ASSIGNMENT TOPIC: Principals (shareholders) – agent (managers) problem represents the conflict of interest between management and owners. For example‚ if shareholders cannot effectively monitor the managers’ behaviour‚ then managers may be tempted to use the firm’s assets for their own ends‚ all at the expenses of shareholders. Discuss the pros and cons of this statement with regard to duties of Board of Directors
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Conflict of Interests In the film “Lone Star”‚ three of the characters‚ out of those two of them being the main characters have conflicts with the parents that birthed them. Pilar Cruz and her mother never quite see eye to eye on many topics and about certain people. The lead protagonist‚ Sam Deeds is constantly in the shadows of his father‚ while being the sheriff‚ he receives a great deal of turmoil for his leniency with residents of his town. While Otis Payne‚ one of the local bartenders‚ has
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WHY IS AUDITOR INDEPENDENCE SO IMPORTANT? Auditing is the efficient critical examination done by one person or group of people’s independent from the system audited. To do an audit‚ confirmed information must be present and some standards by which the auditor can evaluate the information. Another is gathering and evaluating any information to determine whether the information being audited is identified in accordance with establish criteria to satisfy the purpose of the audit and also auditors must
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Conflicts of Interest in Health Care John Doe 2/3/2014 Dr. Faisal Aboul-Enien Conflicts of Interest in Health Care Every company wants to protect their own investments‚ this is a practice that has self-preservation at its core‚ and unfortunately self-preservation is a practice that can often cause conflicts of interest. This happens “when physicians have motives or are in situations for which reasonable observers could conclude that the moral requirements of the
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Auditor Rotation | Raising Auditor ’s Independence | Proposed By: Varun Basantani | Auditor Rotation- Raising Auditor ’s Independence ------------------------------------------------- Abstract: The question for mandatory audit rotation has been a concern to academics‚ investors‚ practitioners and the public at large. This paper is designed to determine the relationship between mandatory audit rotations and audit Independence. The paper makes an earnest effort to evaluate the need
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Currently‚ an auditor may only resign if he is not the sole auditor of the company and his resignation must be made at a general meeting of the company. If an auditor gives notice in writing to the directors of the company that he wishes to resign‚ the directors shall call a general meeting of the company as soon as it is practicable. This is for the purposes of appointing an auditor in place of the auditor who wishes to resign and to appoint another auditor. The resignation of the auditor shall take
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EXPLAIN THE RESPECTIVE ROLES AND RESPONSIBILITIES OF MANAGEMENT AND AUDITORS IN THE PREVENTION AND DETECTION OF FRAUD. The primary responsibility for fraud detection lies with management. This arises due to a contractual duty of care. Directors are able to discharge their duty toward prevention and detection of fraud and error in many ways‚ for example: * Complying with the Combined Code on Corporate Governance * Developing a code of conduct‚ monitoring compliance and taking action against
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Introduction The topic of the report is an exploration of a career option and a Tax Auditor at Canada Revenue Agency. The purposes of this report are to not only prepare myself for the position by examining and learning but also introduce a different field of work to colleagues All residents in Canada must pay a tax and Canada Revenue Agency (CRA)‚ formally known as Revenue Canada‚ is a federal agency that has as its main function the administration of Canadian tax laws for most of the provinces
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Appointment‚ Duties‚ Rights and Liabilities of Auditor Appointment: First Auditors a) The first auditors of a company shall be appointed by the directors within 60 days of incorporation of the company [252(3)] b) The first auditors will hold office till the first annual general meeting [252(3)]. c) If the directors fail to appoint the first auditors‚ the members shall appoint the first auditors‚ provided further that the auditors such appointed shall not be removed during the tenure expect
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NASW and an Ethical Dilemma: Conflicts of Interest One ethical dilemma addressed by the NASW is conflicts of interest. A conflict of interest can take many forms; financial‚ professional‚ religious‚ political‚ etc. (NASW Code of Ethics 1.06‚ 1999). One common conflict occurs when a social worker identifies strongly with a belief system‚ such as the Alcoholics Anonymous credo‚ and supplants standard treatment modalities with AA doctrine. The allure of sharing such a system with a client experiencing
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