1. What is the rational for the company having board of directors and in which legislation describes boards' and functions and responsibilities?

2. Describe how each of following regulatory authorities facilitates Australian listed companies to develop and maintain a sound corporate governance system.

1. Australian Stock Exchange (ASX)
2. Australian Securities and Investment Commission (ASIC)
3. Australian Accounting Standard Boards (AASB)

3. Australian Stock Exchange's (ASX) corporate governance guidelines recommend that 'Majority of the company's board should be independent directors'. Explain why it is important for company boards to be independent.

4. How do the following board subcommittees help the company to maintain good corporate governance practice? Also include in your answer why some companies do not have these subcommittees?

1. Nomination committee
2. Audit committee
3. Remuneration committee

5. Describe the following theories of corporate governance:

1. Stakeholder theory
2. Agency theory
3. Stewardship theory

6. What is CLERP 9 and what does it cover?

Answer rating: 100% (QA)

1 The rationale for companies having a board of directors is to provide oversight and guidance for the companys management and to represent the interests of shareholders The board of directors is resp... View the full answer