Governance

Question 1

A breakdown of controls

Answer 1

Could indicate there is poor corporate governance

The board should review and ensure that internal controls are adequate.

A sound Control environment is one with managers, supervisors and staff at all levels are aware that they will be personally held responsible for any failure to comply with controlled procedures

Question 2

Sharing views

Answer 2

Each board member should have an equal opportunity to share their view

Question 3

Meeting structures

Answer 3

Should be well structured with an opening closing agenda review of next steps and conclusion

Should have enough time dedicated to them. Rushed meetings lead to rushed decisions.

Question 4

Time and perspective

Answer 4

All board members must have enough time to dedicate to the role and be fully participative.

Non-executives should be able to bring a fresh perspective and have no personal interest in the business success

Question 5

Safe well due to clients and shareholders

Answer 5

Complicated both in terms of protecting clients and protecting shareholders.

Their business model is to protect clients, which could see them disproportionately favour their interests over that of the shareholders