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Corporate governance Essay Examples

Essays on Corporate governance

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Cadbury Report

Introduction Initial business governance developments in the UK began in the late 1980s and early 1990s in the wake of business scandals. Cadbury Report (1992) specifies 'Corporate Governance as An Act of governing by the board of Directors". Financial reporting irregularities resulted in the establishment of the 'Monetary Elements of Corporate Governance Committee' led by Sir Adrian Cadbury. The resulting Cadbury Report published in 1992 detailed a number of recommendations around the separation of the role of an organisation's president…...

The External Institutions of Corporate Governance: regulators, markets, auditors and others

The author must decide the extend of testing or the number of items to audit. For example when auditing cash receipts, an auditor may decide to examine every cash disbursement or only a sample of them. The sufficiency of the evidence needed determines the number of items to test. Timing of Testing Another decision that the auditor must make is when to perform each audit procedures. Year-end work – audit procedures performed between year-end and completion of audit. For example…...

Corporate governance ethics

Introduction Ethics is one of the principles that govern the operation of corporations. It is therefore important for corporations to observe it in order to remain relevant to the market, make profits, and expand their capacity. Corporate governance is entitled to direct all the operations of a corporation. It is the manner in which top management directs the corporation and so the stake holders are able to judge whether the company is operating in ethical manner or not. This paper…...

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The Company's Philosophy on Corporate Governance

The Company's philosophy on Corporate Governance is to conduct its business in a manner, which is ethical and transparent with all stakeholders in the Company, including members, creditors and employees. The Company operates in compliance with all regulatory and policy requirements as well as industry ethical guidelines. The Company also has strict guiding principles laid out and communicated through its Code of Business Conduct, which is subject to regular audits to ensure controls and compliances are maintained at a high…...

The Judgement of ASIC v Adler Company

The case of ASIC v Adler is very unique as well as complicated since it involved several breach of duties in the Corporations Act 2001. The HIH collapse was caused by very bad corporate governance. Such breach of duties are, section 9 (director’s duties), section 180 (duty to act with care and diligence), section 181 (duty to act in good faith and for a proper purpose), section 182 (improper use of position), section 182(2) (business judgement rule), section 183 (duty…...

Law and Real Estate

Executive Summary Pacific Grove Spice started as a small specialty grocer on the Monterey Peninsula of California in the early 1980s. Within 10 years they were the “place” to find spices in Central California and now have a widespread reach covering all 50 states. The spice industry that it is in has been growing steadily because of how important a role spices are getting in the kitchens and in cooking. The growing concern about obesity and diet has also left…...

Multilateral vs Bilateral Diplomacy

Federal governments need to develop worldwide relations in various fields like security, and trade along with to choose the alternative of engaging in a bilateral or multilateral basis with other countries through diplomacy. Bilateralism and multilateralism have advocates and critics; nevertheless the multilateral technique has increased since completion of the Second World War and thanks to the globalisation that impacts all the countries all over the world. In this way, the worldwide intergovernmental companies (IGOs) have actually ended up being…...

The Earnings Management Issue of WorldCom Case Study Report

Introduction WorldCom, the telecommunications giant, once was the largest telecommunications company in the world, with more than $30 billion annual revenue, $104 billion in assets and more than 20 million customers. John Sidgmore (2002), Ebbers’ successor after the scandal, said “WorldCom is a key component of our nation’s economy and communications infrastructure.” However, the giant collapsed in 2002. 1. The Main Issue: Earnings Management 1.1 Definition of Earnings Management A commonly acknowledged definition of earning management by Healy and Wahlen…...

Unethical Practices and Behavior in Accounting

The Sarbanes-Oxley Act of 2002 (SOX) was developed to prevent deceptive financial activities, and to provide financiers with more accurate monetary resources on corporations. Under SOX, companies are held responsible if they fail to keep the requirements that were set forth in the act. The act requires business to maintain acceptable internal control measures, provide responsible monetary reports, disclose regular reports, and establish rules for yearly reporting. (Hazels, 2010) These requirements are all part of the Typically Accepted Accounting Principles…...

Fayol's Principles Of Management In Mcdonalds

How Far Henri Fayols Principle Of Management Is Relevant With Contemporary Public Administration stepped down as director, he published his "14 Principles of Management" in the book "Administration Industrielle et Generale." Fayol also created a list of the six... Premium Principles Of Management aspects of Egyptian life were highly organized. There were much inefficiency, Principles of Management MGT503 VU © Copyright Virtual University of Pakistan 2... Premium Principles Of Management of corporate governance, many of whom are now very actual…...

McDonald’s Company

Today McDonald’s have more than 32,000 local restaurants serving and more than 60 million customers in 117 countries each days. McDonald operation begin in 1940 when Dick and Mac opened McDonald’s Bar-B-Que restaurant in San Bernardino, California. In 1948, Dick and Mac close the operation for the renovation and reopened after three month later with the most popular item. In 1954, Ray Kroc, as multimode, was attraction and operation and learnt that the McDonald brother had desired to franchise their…...

David Myers, Worldcom

Introduction WorldCom was America's second largest telecom company in 2000 (The WorldCom Accounting Scandal, 2002). Making a modest beginning in the hinterland of Mississippi in 1983 with a meager capital of less than 100,000 USD it reached the pinnacle of corporate success reporting more than USD 39 billion in revenue and USD 150 million in MCAP (The WorldCom Accounting Scandal, 2002). In the process it became 42nd in the Fortune 500 list. Under the leadership of CEO Bernie Ebbers it…...

Improvement of Internal Control Weaknes

In Improving weakneses on the internal control PCI Sdn Bhd should develop more comprehensive Standard of Procedure on preparing Purchase transaction also the accounting preparer role treatment. Refer to the first problem occur where planning section should not easily give MMR to En.Razi without any proper authorization, there should be the MMR must be authorized by their head department first before sent to En. Razi to recheck the exactly amount and sent to his manager to double check it and…...

Dystopian Society in the Cyberpunk Novel Feed

The cyberpunk novel, Feed, is a book which explores the dangers of overpowering consumerism. Author MT Anderson uses language to develop the theme of a failing futuristic society as an outcome of constant consumerist influence. Anderson uses character dialogue, descriptions of environmental degradation and internally received ‘banners’ or advertising inside the characters’ heads to explore the problems encountered when a society fails to protect their most valuable resource – nature. The characters in Feed are all implanted with a chip…...

Stakeholder theory as an organisational management theory supports good corporate governance

‘Stakeholder Theory’ as an organisational management concept supports good Corporate Governance models. Discuss whether stakeholder theory assists in determining good corporate governance models for a company. The recent increase in awareness surrounding Corporate Governance partly arose from what was considered to be some of the ‘darkest days in business’ during the early 2000’s when numerous multi national corporations unexpectedly collapsed. People the world over were greatly effected by these events, which brought into question the role of good business practice…...

Major factors in the social environment

1.Identify and explain the Pyramid of Corporate Social Responsibility. Provide several examples of each ‘layer’ of the pyramid. Identify and discuss some of the tensions among the layers or components. PELE 2. In your review, what is the single strongest argument against the idea of corporate social responsibility? What is the single strongest argument for corporate social responsibility? Briefly explain 3. Differentiate between corporate social responsibility and corporate social responsiveness. Give an example of each. How does corporate social performance…...

Essay about Corporate Governance

Conduct a review of the governance of your organisation (or one with which you are familiar) in the form of a report to the Chairman (or President) of the Governing Board of Directors. In the brief report use the concepts, tools and techniques learned in this subject to review the structure, process and effectiveness of the governance of the organisation and make recommendations for appropriate improvements. Executive summary This report sets out to review corporate governance at a private company,…...

CSR of Petron

Petron Corporation (Petron) is a Philippines-based company. The Company is the refiner and marketer of petroleum products in the Philippines. As of December 31, 2010, Petron had seven subsidiaries: New Ventures Realty Corporation engaged in acquiring and developing land; Petrogen Insurance Corporation engaged in serving the insurance requirements of Petron and its allied business partners, such as contractors, suppliers and dealers; Overseas Insurance Corporation engaged in expediting the reinsurance of Petron's insurable interests as covered by Petrogen Insurance Corporation; Petron…...

Organizational Structure of Walgreens

This week’s learning team assignment focused on the organizational structure and design. Team C will examine the organizational chart of Walgreens and restructure it to make it more efficient and beneficial for the company. The students have decided the CEO of the organization is overwhelmed with departments reporting to him. Therefore, some departments will be consolidated and moved to more specialized officers under the CEO for a more productive company. The officers to receiver these additional departments will be Chief…...

PR Communication Memo

Lancaster, PA, June 13, 2013 – JHW Corporation (NYSE: JHW), a leader in textiles, announced today that John Doe, chief financial officer, has resigned unexpectedly while working with the Securities and Exchange Commission. SEC is currently investigating the accounting practices of JHW and recently discovered discrepancies in the company’s revenue recognition. James H. Whoever, president and CEO of JHW, stated he was surprised to learn of the discrepancies discovered by SEC in the company’s accounting practices and regrets that internal…...

Two contrasting business

Willen hospice cares for people who can no longer get their illnesses treated. They work around Milton Keynes, Bedfordshire and Northamptonshire. Willen Hospice is a charity and a charity is a business that requires funds from the NHS and general people who donate, it is also non-profitable business. Willen Hospices aim and objective is: “Our vision is to be the lasting and thriving provider of free care to all people affected by life limiting illness in our community. This will…...

The four basic activities in management process

1. What are the four basic activities that comprise the management process? How are they related to one another? " The four basic activities that comprise the management process are as follows: Planning and Decision Making, Organizing, Leading, and Controlling. Managers engage in these activities to combine human, financial, physical, and information resources efficiently (using resources wisely and in a cost-effective way) and effectively (making the right decisions and successfully implementing them) and to work toward achieving the goals of…...

Manchester United: Brand of Hope and Glory

Identify who you believe to be Manchester United's key stakeholders and evaluate their influence in relation to the ethical stance taken by the company. Ethical stance defined by Johnson and Scholes as: 'the extent to which an organisation will exceed it minimum obligations to stakeholders and society at large.'Four possible ethical stances exist and are stereotypes for any organisation. The first ethical stance is short-term shareholder interests; a company who stick very close to laws and regulations which are in…...

Benefits to Having a CFO as CEO

Part IIn today's complex business environment, more and more companies are turning to Chief Finance Officers (CFO) to assume the premier position of Chief Executive Officer (CEO) of the company. However, the qualities required of a CEO are not always in line with the training and experiences of a former CFO. Yet the CFO can bring many qualities to the CEO position to help a company succeed. What are the benefits to having a CFO as CEO, and what are…...

Non-Profit Management Case Study: Greenhill Community Center

Background of the Greenhill Community Center Greenhill was multi-service community center which was founded in 1982 in Coastal City, one of the poorest cities on the East Coast. The city had experienced several waves of immigration of refugees from Southeast Asia. Greenhill's main purpose was to provide human service programs such as day care, elder programs, music classes and afterschool programs. The Center has a budget of nearly $700,000 with revenues coming from tuition, grants, fundraising and rental income. Problems:During…...

Role of Chief Executive Officer in Strategic Managment

Chief executive officer is the most important figure in strategic management process. S/he plays many roles in an organization. Planning, organizing,leading, and controlling are the major parts of management activities that amanager performs. Actually, strategic management is the top-levelmanagement. It covers all the management functions because it starts from planning such as environmental analysis and strategic choice, associated withorganizing and leading in implementation phase, and lastly also evaluates andcontrols the results. Similarly, CEO also uses his or her conceptual, humanrelation,…...

The Eddie Stobart business

The Eddie Stobart business is unpinned by the company brand, people and systems. This is their strategy to keep the business running successful for the next 3 years. The purpose of this strategy is to increase the sea, rail and air sectors. Strategic Planning Starting new partnerships with customers to further efficiencies. To take the opportunities, as the economy comes out of recession, building on our key competitive advantages, such as load utilisation and combining our customers. To market and…...

Corporate Social Responsibility And Ethics Timberland

Under New Ownership I would identify Forest's workout of its corporate power in society as "Business Social Obligation". Forest is being socially accountable towards society and is acting in a way that enhances society. By exercising its power, Timberland is practicing the "iron law of duty" which says that in the long run, those who do not use power in methods that society thinks about accountable will tend to lose it. Timberland is utilizing its impact properly through charitable offering;…...

Hewlett Packard Spying Scandal

Corporate misconduct, (or people’s misconduct so to speak) is an issue that has been dominating headline news in the American business world in recent years. Theodore Roosevelt, one time U.S. president was probably right when he said, “To educate a person in mind but not in morals is to educate a menace to society” (Platt, 1989). The American society has continued to suffer from corporate scandals, despite the fact that people are now better educated because behind each scandal and…...

Corporate Governance Assignment

1. Introduction Corporate entities of all types need a governing body. In the case of a company, this is its board of directors. Corporate entities governed by a board of directors face the central challenge of the agency issue. Whenever a principal has to rely on agents to handle his or her business, governance issues arise. (Tricker 2012) Presently, corporate governance is an evolving concept as such there is no fixed definition. However, corporate governance has been defined as, “the…...

Costco Ethics

Costco wholesale follows a very strict code of ethics, which are strongly enforced with their compliance program. Costco’s ultimate mission is to provide their members with quality goods and services at the lowest price possible. In order for Costco to achieve their mission, they must abide by their simple code of ethics which consist of, obeying the law, taking care of their members, taking care of their employees, and respecting their suppliers. Upon success of these four codes, they have…...

The Salient Features Of Corporate Governance On Financial Engineering After The Sarbanes-Oxley Act

The Sarbanes-Oxley Act was executed in 2002 for the enhancement of the finical sector through the support of checks and balances. There were concerns concerning the accounting standards. According to the Act, numerous modifications had actually to be made in the monetary reporting and business needed to be examined. Much of the business governance has actually been directed to the financial reporting and financial engineering is among the locations that have received much of the corporate governance attention given that…...

Good Governance

Introduction The topic of this essay concerns about good governance namely what is it, what is its possible application in the formal and informal sectors added to its context, do the different ideological systems concord with it and lastly does it produce any, whatsoever, improvement or development in any sense and sector? And to answer to all that issues I will firstly define it, secondly discuss all its characteristics and indicators from the various organizations directly and/or indirectly involved with…...

Coperate Gorvernance

Executive summary: Cadbury Report (1992) stated that “corporate governance is the process by which companies and directed and controlled” (cited in Tricker, 2009). In other words, it helps the corporate entities increase the value provided to the organisation’s various stakeholders. Therefore, appropriate corporate governance plays a very important role in development of organisations. This review will define corporate governance and some of its concepts (through the paper). Following, the review will give a Memorandum or a general introduction about Nufarm, which…...

Duties and Responsibilities of Ceo

A chief executive officer (CEO) is the head of the company and is responsible for its overall success. Some CEOs are also members of the board governing the company, or boards with other organizations. They determine the policies that make up the structure of an organization, or its corporate governance Chairman of the Board A CEO often serves as chairman of the board of directors. The board conducts performance reviews on the CEO and other high-level executives and determines whether…...

A Guide to Reflective Practice

a) What is reflective practice? Reflective practice is the process of thinking about and critically analysing your actions with the goal of changing and improving occupational practice. b) Why is reflective practice important? Reflective practice is important because it accurately assesses the need of each service user. It is essential that all care workers become familiar with reflective practice as our profession depends on shared support, care workers. c) How reflective practice contributes to improving the quality of service provision…...

The Importance of Corporate Governance in Organizations

With the current monetary crisis, companies' defaults and crushes, the significance of corporate governance has actually increased substantially. Business scandals that have actually impacted companies all over the world have actually resulted in the re-examination of the function of corporate governance in their daily operations. The Organization of Economic Cooperation and Advancement (OECD, April 1999) specifies business governance as follows: "Corporate governance is the system by which company corporations are directed and managed. The business governance structure specifies the distribution…...

Worldcom Scandal

The function of this report is to look back at one of the most significant US business scandals: WorldCom. WorldCom drop was the greatest bankruptcy in United States business history: 20,000 employees lost their tasks, investors lost about 180billion dollars. How did all this take place? Unethical practices: 1. Modification in accounting policy: there was a modification in the accounting policy in 2000 to support an extra accrual release. GAAP does not allow using accruals developed through charges for one…...

Concepts of Competencies to the Jobs

1.How relevant are the concepts of competencies to the jobs in a chicken-processing plant? 1.How relevant are the concepts of competencies to the jobs in a chicken-processing plant? hirsagar had been with Horizon for over twenty years. Starting off as a substitute mill-hand in the paint shop at one of the company’s manufacturing facilities, he had been made permanent on the job five years later. He had no formal education. He felt this was a handicap, but he made up…...

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