Objectives of Corporate Governance Flashcards
Which international text outlines corporate governance guidelines?
OECD Principles of Corporate Governance
Which parties does the OECD Principles of Corporate Governance identify?
Company management, board, shareholders and other stakeholders.
What is the purpose of corporate governance?
- Maintain public trust and confidence.
- Structure through which objectives of the company are set and means of attaining them.
- Monitoring achievement of objectives.
From a financial services perspective, what is corporate governance?
- 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.
Whose responsibility is it to set out the governance structure of the organisations?
Board of Directors
Why was the SM&CR introduced?
Reduce damage to consumer and strengthen market integrity.
What must each senior manager have under SM&CR?
Statement of Responsibilities
What are the Senior Manager functions under SMCR?
- Chief Executive
- Executive Director
- Partner
- Chair of Audit Committee
- Compliance oversight
- Money Laundering Reporting Officer (MLRO)