Question 4b
Marking Guide
up to 1 mark per well explained weakness and up to 1 mark per recommendation. overall max of 6 for weaknesses and 6 for recommendations. | |
chairman is chief executive | |
two of six directors are non-executive, should be at least half | |
finance director alone reviews financial information and budgets | |
audit committee comprised of non-executives, chairman and finance director | |
finance director and chairman appoint and remunerate external auditors | |
no internal audit function to save costs | |
finance director and chairman decide on the remuneration for the executive directors | |
remuneration all in form of salary and yearly bonus | |
no director subject to re-election for the last five years | |
max marks | 12 |