Objectives of Corporate Governance Flashcards

1
Q

Which international text outlines corporate governance guidelines?

A

OECD Principles of Corporate Governance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Which parties does the OECD Principles of Corporate Governance identify?

A

Company management, board, shareholders and other stakeholders.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is the purpose of corporate governance?

A
  1. Maintain public trust and confidence.
  2. Structure through which objectives of the company are set and means of attaining them.
  3. Monitoring achievement of objectives.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

From a financial services perspective, what is corporate governance?

A
  • Setting firm strategy and objectives
  • Setting risk tolerance
  • Day-to-day operation of business
  • Protect interest of depositors, shareholders and other stakeholders
  • Align corporate behaviour with laws and regulations.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Whose responsibility is it to set out the governance structure of the organisations?

A

Board of Directors

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Why was the SM&CR introduced?

A

Reduce damage to consumer and strengthen market integrity.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What must each senior manager have under SM&CR?

A

Statement of Responsibilities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What are the Senior Manager functions under SMCR?

A
  • Chief Executive
  • Executive Director
  • Partner
  • Chair of Audit Committee
  • Compliance oversight
  • Money Laundering Reporting Officer (MLRO)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly