Governence, Corporate responsibility And Ethics

Question 1

The body responsible for promoting high standards of corporate governance in the UK is:

Answer 1

The financial reporting council

Question 2

True or false, the chairman of the board may be a member but cannot chair the remuneration committee

Answer 2

True

Question 3

For a small listed company outside the FTSE 350, what is the minimum number of independent NEDs that should sit on the company’s board?

Answer 3

Two

Question 4

Under the UK corporate governance code, who is responsible for maintenance of sound risk management and internal control systems?

Answer 4

The entire board of directors

Question 5

When the chairman of a firm has agreed an audit fee with the audit firm, who does the chairman have to get the approval of!

Answer 5

The audit committee

Question 6

What approach to ethics combines a concern for the law with an emphasis on managerial responsibility?

Answer 6

Integrity

Question 7

What are the attributes and behaviours of ethical leaders?

Answer 7

FACHO FACHO MAN, I wanna be a FACHO man!

Fair mindedness
Ability to listen
Courage
Honesty
Openness