Governance

Question 1

What are the 4 general principals of good governancein the public sector?

Answer 1

1. Integrity
2. Accountability
3. Transparency
4. The Public Good

Question 2

What is meant by the principal the public good?

1

Answer 2

Organisations should act for the public good and the benefit of sociaty as a whole.

Question 3

What does division of responsibilities mean in organisational management?

Answer 3

There should be a clear division of responsibilitikes between the leader of the board and the executive leadership of teh organisation. IE CEO and Chair

Question 4

What proportion of a board should be independant NED’s?

Answer 4

Half of the board excluding the chair.

Question 5

What are the 7 nolan principals on public life?

Answer 5

1. Selflessness
2. Integrity
3. Objectivity
4. Accountability
5. Openness
6. Honesty
7. Leadership

Question 6

What are the 5 fundemantal ethical principals for accountants?

Answer 6

1. Integrity
2. Objectivity
3. Professional competence & Due care
4. Conmfidentaility
5. Professional Behaviour

Question 7

What are the 5 threats to an accountants ethical principals?

Answer 7

1. Self-interest
2. Self-review
3. Advocacy
4. Familiarity
5. intimidation

Question 8

What is the threat of Advocacy?

Answer 8

Giving support for a particular point of view or recommendation to the point that objectivity is comprimised.