StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Corporate governance and audit - Coursework Example

Comments (0) Cite this document
Summary
The agency theory deals with the separation between the ownership and control. The government has decided to reduce the agency theory that will affect its shareholders since it is related…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.3% of users find it useful
Corporate governance and audit
Read TextPreview

Extract of sample "Corporate governance and audit"

Download file to see previous pages Therefore the government decides to reduce this theory for minimizing the problem of principal agent and also reducing the direct and indirect cost involved for ensuring that the agents behave in accordance with the principles.
The report that has been established by the UK committees of corporate governance includes the stakeholder theory that not only generates the wealth of the shareholders but also takes into consideration a wide group of stakeholders. The transaction cost theory that not only emphasizes on the wealth of the shareholders but effective accomplishment of the transactions.
a) The scandals of the corporate governance in the light of UK regulatory development can be explained as it facilitates innovation in which it allows the companies to implement new ideas, avoiding of box ticking in which the companies are allowed to complying with the principles and proportionality and long term learning for adopting cultural change in the companies for fulfilling the objectives and principles of corporate governance.
b) The main objectives of OECD code of the corporate governance are to improve the institutional, legal and national framework required for the corporate governance. It focuses on improving the growth and development of the companies.
The underlying principles of the OECD code of corporate governance are that it serves on the basis of the OECD and non OECD countries of the world. The principles mainly focus on the stock market listed companies that will contribute towards improving the corporate governance of the private companies. The principles deal with the transparent market, efficient market and also well regulated market.
The main objective of the shareholder theory is maximization of wealth of the shareholders. The shareholder theory is subjected to minimum regulatory and government intervention in the business operation. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Corporate governance and audit Coursework Example | Topics and Well Written Essays - 2250 words”, n.d.)
Corporate governance and audit Coursework Example | Topics and Well Written Essays - 2250 words. Retrieved from https://studentshare.org/finance-accounting/1691026-corporate-governance-and-audit
(Corporate Governance and Audit Coursework Example | Topics and Well Written Essays - 2250 Words)
Corporate Governance and Audit Coursework Example | Topics and Well Written Essays - 2250 Words. https://studentshare.org/finance-accounting/1691026-corporate-governance-and-audit.
“Corporate Governance and Audit Coursework Example | Topics and Well Written Essays - 2250 Words”, n.d. https://studentshare.org/finance-accounting/1691026-corporate-governance-and-audit.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Corporate governance and audit

Corporate Governance

... Task Corporate Governance Introduction For quite some time, businesses or firms have been practicing merging or simply acquiring other businesses. This is achieved by having the acquiring company maintain its name while the other company’s name is eliminated. Likewise, the two companies have to set rules of engagement that will ensure that they both operate in a manner that serves both of them well without any unfairness. The rules may be touching on both the firms themselves or their customers. This may be because of taking over of one company by another, buying out of one company by another or simply taking over another company. This is done with the main of financial gains or even avoiding making losses. Therefore, the work below looks...
4 Pages(1000 words)Essay

Corporate governance

...? CORPORATE GOVERNANCE …………………. and Number …………….. …………. Words- 759 Corporate Governance The way companies are governed determines their success and the role they may play in the economy as well. Companies in recent years started giving greater emphasis on effective governance with a view to ensure competitive position, attract sufficient capital, guarantee sustainability, and combat corruptions. Corporate governance practices are associated with the development of financial markets, because higher level of governance in most countries are related to larger securities markets and lower costs of external finance (Tang and Wang, 2011, 47). Governance is the way or the structure the CEO, the owner and board of directors together with direct...
3 Pages(750 words)Essay

Corporate Governance

... ignored the rule. Private companies are also encouraged to follow these corporate governance guidelines even though it is not a compulsory requirement in private firm accounts. This Code contains a principles-based approach and a rules-based approach; the former provides strategies for best practice while the latter rigidly defines exact practices that have to be adhered to. The collapse of a major UK company named Polly led to the formation of a committee in 1991 to ensure the accuracy of financial accounts. According to the committee recommendations, a company must have separate chairman and CEO. Every board has to possess a minimum of three non-executive directors, and each board must maintain an audit committee. In 1994...
6 Pages(1500 words)Coursework

Corporate Governance

While these people are usually elected by the Board of Directors or hired based upon their past record, professional skills and business acumen- it is sad when they indulge in scandalous behavior that can lead a company to bankruptcy and closure. In recent years we have had corporate scandals involving such well known names as Enron and Worldcom in the USA and Parmalat in Italy. These widely recognized household names had a national or regional presence at least, with some even having business interests in various countries across the globe. This is what makes their demise all the more shocking. What is Corporate Governance? Broadly speaking, Corporate Governance may be defined as a set of laws, rules and principles by which a bu...
6 Pages(1500 words)Coursework

Corporate Governance

Translating theory into practice takes diverse and dynamic approaches. This is because organizational operations, strategies, goals, and objectives differ from one organization to another. For this reason, the operationalization of Kohlberg’s model within an organization requires a strategic approach. On the same note, the taken approach must be aligned and consistent with organizational short term and long term prospects. The practice of Kohlberg’s model would, therefore, require managers to be sensitive to the organizational culture and operations in play.
To start with, managers do not necessarily have to implement every aspect of Kohlberg’s model. This is because some of the aspects of Kohlberg’s mo...
8 Pages(2000 words)Literature review

Internal audit and corporate governance

...INTERNAL AUDIT AND CORPORATE GOVERNANCE and Section # of The purpose of this report is to look into the broader field of auditing by concentrating on internal audit and its part in corporate governance. Corporate governance is the means through which an organisation is manage and controlled. On the other hand, internal auditing is the activities concerned with recommending and directing organizations, with reference to how to improve and achieve the organizational goals. It's an ongoing evaluation of the financial wellbeing of a company's operations by its own employees. Employees who carry out this function are called internal auditors. (Coyle, 2005) Internal Audit In an internal audit, the internal auditors determine, assess...
10 Pages(2500 words)Essay

CORPORATE GOVERNANCE

aller subtitles such as ‘corporate governance’ and ‘implementation of corporate governance principles and recommendations in the UK and the US’ in order to cover the topic exhaustively. The conclusion section summarizes the main issues discussed in the paper and makes inferences where appropriate.
Corporate governance refers to a set of laws, policies, institutions and customs that affect the manner in which a corporation is controlled, administered, or directed1. Corporate governance also incorporates the corporation’s goals of governance and the relationships among its numerous stakeholders2.
The major stakeholders in any corporation include the board of directors, management, and shareholders or members. Others include...
10 Pages(2500 words)Essay

Corporate governance

Answer The major aim of all businesses is to create value for its various stakeholders and shareholders through products and services that meet the needs and requirements of people. It can broadly be defined in terms of value realized by the end user or buyer when monetary exchange takes place for the goods and services bought (Felin and Hesterly, 2007). Indeed, the perceived and expected performance of the product must correspond with the level of satisfaction so that purchase or buying behavior is repeated. The value protection ensures that the quality, reliability and performance of the product and services are sustained and improved so that firms are not only able to retain existing customers but also attract new consumers. Th...
2 Pages(500 words)Essay

Internal Audit and Corporate Governance

In an internal audit, the internal auditors determine, assess and supervise an organization’s risk management, reporting methodologies, and control practices; at the same time give proposals for advancement. Although internal auditors are characteristically accountants, this activity can also be carried out by other qualified experts who are knowledgeable about the company functions as well as the necessary regulatory requirements. (Friedberg, 2004)

The span of internal auditing in an organization is expansive and it may engage internal control issues such as the effectiveness and efficiency of business processes, the consistency of financial reporting, preventing and inspecting fraud, protecting resources and oth...
10 Pages(2500 words)Term Paper

Use of COBIT as Corporate Governance Audit Methodology

...Use of COBIT as Corporate Governance Audit Methodology Abstract This study focuses on a comparative analysis between two firms that use COBIT as the basic IT framework and the various uses and applications of COBIT and other IT systems for security management, IT management, performance management are also discussed. The focus however is on the use of COBIT in enhancing auditing processes in organizations and in this context, the Sarbanes Oxley Act, the corporate scandals, and the need for transparent accounting have been discussed. The use of COBIT as a core in enhancing corporate accountability has also been examined to suggest how companies to successfully improve auditing methods could adopt COBIT. Keywords: Computer security...
6 Pages(1500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Coursework on topic Corporate governance and audit for FREE!

Contact Us