Castries CA00978 attorneysatlaw@dg.com ------------------------------------------------- Mr. Dunstan Matthew Manager Bespoke Corporate & Fiduciary Services Ltd 2nd Floor Lamar Building Castries CP 56700 14th January‚ 2013 Dear Mr Matthew: I am in the process of gathering information for an upcoming report on International Business Companies. Internet research
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are required to prepare fund financial statements for governmental funds only. Answer: False 8. In addition to the government-wide statements‚ governments are required to prepare fund financial statements for governmental‚ proprietary and fiduciary funds. Answer: True 9. The General Fund is always considered to be a major fund when preparing fund basis financial statements. Answer: True 10. With respect to fund basis financial statements‚ governmental funds are considered to be
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Insider Trading: Should it be abolished? Insider trading is defined as “ trading whilst in possession of non-public information and if known to the public‚ may lead to a substantial movement in a security’s price” . In Australia it is prohibited by insider trading regulation (IT regulations) in the Corporations Law (CL) 1991 ‚ though it was initially established from recommendations made by the Rae committee in 1974 on the mining company scandals . The latest law changed one single section to
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Each of them is the pillars of which many other theories are based on but have very different and opposite views. The Shareholder theory suggests that manager has fiduciary duties to the shareholders only and must maximize profits as long as the law permits. The Stakeholder theory on the other hand suggests that managers have fiduciary duties to all stakeholders whom are positively or negatively affected by the
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Digital Pulse Pty Ltd (‘Harris’).[25] In breach of their contractual and fiduciary duties of loyalty‚ the defendants diverted projects away from the plaintiff‚ their employer. The trial judge found the defendants liable to pay equitable compensation or‚ at the election of the plaintiff‚ to account for profits. In addition‚ the trial judge made an award of exemplary damages against the defendants for their breach of fiduciary duty. By majority (Spigelman CJ and Heydon JA)‚ the Court of Appeal reversed
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The relationship between management and stockholders is ethically different in kind from the relationship between management and other parties (like employees‚ suppliers‚ customers‚ etc.)‚ a fact that seems to go unnoticed by the multi-fiduciary approach. If it were not‚ the corporation would cease to be a private sector institution—and what is now called business ethics would become a more radical critique of our economic system than is typically thought. On this point‚ Milton Friedman must
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president or authorized officer and shall be countersigned by the treasurer or assistant treasurer. With respect to fiduciary‚ the return shall be made in the name of the individual‚ estate or trust for which such fiduciary acts‚ and shall be signed and verified by such fiduciary. In case of two or more fiduciaries‚ the return shall be signed and verified by one of such fiduciaries. When and Where to File The return shall be filed on or before January 31 of the year following the calendar
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divergent outcome. The development of the second limb of Barnes v Addy in Australia- ‘knowing assistance’ The classic authority on the circumstances in which third parties will be held accountable for their involvement in a breach of trust or fiduciary duty is the English case of Barnes v Addy. It was in this case that Lord Selbourne LC articulated the much cited and analysed statement of principle that has come to form the modern law: ...strangers are not to be made constructive trustees merely
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WALKING THE ETHICAL TIGHTROPE: BALANCING THE RESPONSIBILITIES OF IN-HOUSE COUNSEL TO KEY STAKEHOLDERS Legalwise Seminars Pty Ltd 12 November 2009 Sydney By Steve Mark NSW Legal Services Commissioner “The moral ethos of managerial circles emerges directly out of the social context (of the corporation). It is an ethos most notable for its lack of fixedness. In the welter of practical affairs in the corporate world‚ morality does not emerge from some set of internally held convictions
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Test Bank to Accompany Essentials of Accounting for Governmental and Not-for-Profit Organizations: Eleventh Edition Prepared by: Paul Copley and Mary Loretta Manktelow James Madison University Chapter 1 Introduction to Accounting and Financial Reporting for Governmental and Not-for-Profit Organizations True/False Questions 1. The Governmental Accounting Standards Board sets financial reporting standards for all units of government: federal‚ state‚ and local. Answer: False
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