In their 2022 Governance Report, the board of Mr Price made the following comment; The board comprises
Question:
In their 2022 Governance Report, the board of Mr Price made the following comment; "The board comprises of an independent chairman, lead independent director (LID), chief executive officer (CEO), chief financial officer (CFO) and non-executive directors. During the reporting period, the 11 directors comprised of two executive directors, six independent nonexecutive directors and three non-executive directors."
2.1 Explain the difference between an executive director and a non-executive director. (5)
2.2 What is the significance of having an 'independent chairman; and a 'lead independent director' ? (5)
2.3 Both King IV and the JSE listing requirements gives guidance on the composition of the Board. Write a short essay on the requirements/recommendations that these two documents provide with regards to the composition of the board. (10)
Auditing Cases An Interactive Learning Approach
ISBN: 9780134421827
7th Edition
Authors: Mark S Beasley, Frank A. Buckless, Steven M. Glover, Douglas F Prawitt