Section A

Answer all questions in this section (40 marks)

... the governance of an enterprise is the sum of those activities that make up the internal regulation of the business in compliance with the obligations placed on the firm by legislation, ownership and control. It incorporates the trusteeship of assets, their management and their deployment (Cannon, 1994).

Extracted from: Solomon, J., & Solomon, A. (2004). Corporate Governance and Accountability. West Success: John Wiley & Sons Ltd.

All questions relate to the case study above

Question 1

Having gone through the definition above, and using your knowledge of corporate governance who is given the trusteeship and control of assets in corporations (2 mark)

Question 2

Having gone through the definition above, and using your knowledge of corporate governance who is given ownership of the corporation (2 mark)

Questions 3

State and elaborate on any four obligations placed on a firm either by legislation ownership or control (12 marks)

Question 4

Critically analyze this definition given by Canon (1994) of corporate governance (10 marks)

Question 5

Using you knowledge of corporate governance give your definition of corporate governance and explain why you gave such a definition (14 marks)