shareholders can have potential recourse. This is all done indirectly; the company will recover in the event of a breach of duty arising. If the company recovers and suffers no harm‚ then that protects shareholders and makes sure their investments are secure. It also protects the creditors‚ who are more likely to get paid. The Directors owe their duties to the legal entity- the company. This is intended as a protective requirement for both shareholders and creditors. When the director pays back or
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theft. D. Expected effectiveness of controls. 13. The risk that an auditor’s procedures will lead to the conclusion that a material misstatement does not exist in an account balance when‚ in fact‚ such misstatement does exist is referred to as A. Audit risk B. Inherent risk C. Control risk D. Detection risk 14. Evidential matter concerning proper segregation of duties ordinarily is best obtained by A. Preparation of a flowchart of duties performed by available personnel. B. Inquiring whether
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DIRECTORS PROFILE Tan Sri Dato’ Md Nor Yusof Chairman/Non-Independent Non-Executive Director Chairman/Non-Independent Non-Executive Director • Aged 64‚ Malaysian • Joined the Board on 27 June 2006 • Attended 8 out of 9 Board Meetings held in 2011 • Member of the Board Risk Committee Tan Sri Dato’ Md Nor graduated with a Bachelor’s Degree in Commerce from the University of Otago‚ New Zealand and is a qualified Chartered Accountant. Tan Sri Dato’ Md Nor has spent more than 18 years of his
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Removal director Summary On July 23‚ 2011‚ Damon Kitney from the Australian news wrote an article titled‚ “The shareholders strike back” which stated how Rupert Murdoch‚ CEO and chairman combined of the News Corporation‚ and his firm’s executives‚ including Mr. Murdoch’s son James‚ are being investigated for any suspected role in covering up the scope of “industrial scale” phone hacking. Murdoch’s negligent affair has raised many criticisms from experts‚ lawyers as well as independent management
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Corporate Governance Defining The Board In an era where women are slowly ascending in the business world‚ women are still overlooked as reputable pieces to the board. There is not enough diversification in the Board of Directors because of how corporate structure was originally built on a hierarchy system of men. There is an issue that arises of not enough variation in the boards that leads to stale solutions to problems in corporate world. Also‚ separation needs to be defined by who actually
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Audit & Investigation AQ002-3.5-2-AINV-T 15-Jun-12 WASEED AHMED LECTURER: MR. MEGAT ABDULLAH MEGAT MAHMUD Table of Contents Different roles of internal and external auditors. 4 Internal auditors: 4 External auditors: 4 Identify the benefits in forming an audit committee. 6 Evaluate the strengths and weaknesses of MPL’s control environment: 7 Control Environment: 7 a. Integrity and Ethical Values:
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Smith CEO FROM: Alex Klein‚ Chairperson of Partnership Development Committee AK SUBJECT: Recommendation for a Job Shadowing Program DATE: March 30‚ 2013 RECOMMENDATION The Partnership Development Committee recommends that UT Federal Credit Union initiate a job-shadowing program for two students majoring in Business Management at Pellissippi State Community College in order to fulfill the Board of Director’s strategic goal to “develop strong partnerships with area colleges
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Audit Test 1 notes Board of Directors hires auditors Controller pays the auditors Audit Report is the auditor product If you find illegal can’t tell public but must notify the management and if they don’t do anything then maybe report -can then resign and report ALL auditors are reviewed every 3 years AICPA -makes standards for private companies ? PCAOB -sets standards (the SEC sets standard) -Quasi private public company -legal authority to set standards Assurance
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lose the Civil War?" To this day historians have tried to put their finger on the exact reason for the South losing the war. Some historians blame the head of the confederacy Jefferson Davis; however others believe that it was the shear numbers of the Union (North). The advantages and disadvantages are abundant on either sides of the argument‚ but the most dominate arguments on why the South lost the war would be the fact that state ’s rights prevented unification of the South‚ Jefferson Davis poor
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what they have learned from oral histories shared by their elders. The proposed timeframe for this engagement could begin as soon as the spring of 2014 through a community or afterschool event or activity. The K’awaika Senior Center hosts the Laguna Senior Olympics. With the Olympics occurring this year of 2014‚ an exchange between our elders and our students could be centered on what we know about the Olympics globally and what our local Senior Olympians are practicing and have excelled at
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