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 marks12