Role of corporate governance, Corporate Finance

There are eight directors on the Board of XYZ plc - two non-executive directors and six executive directors.  Kyle XYZ is the Chairman and Chief executive of the company.  Of the six executive directors, only one was recruited to an advertised position - the other five are members of the XYZ family and obtained their positions when they left university.

The directors' remuneration is decided at board meetings and the majority of the pay package is salary and pension - traditionally only a small proportion of directors' pay is performance related.

The finance director, Carla Clearwater is in charge of the entire accounting function which includes internal audit.  She has worked at XYZ plc for 12 years and is therefore knowledgeable about the way the company is set up and how the finance systems and controls work.  For this reason, the board has never seen the need for an audit committee.

The company is under pressure to comply with the Combined Code of Corporate Governance.

Required

a) Write an essay that critically appraises the role of Corporate Governance.  You should make reference to any current developments.

b) Using the information provided above, make recommendations as to what XYZ needs to do in order to comply with the Combined Code.

Posted Date: 2/23/2013 4:24:19 AM | Location : United States







Related Discussions:- Role of corporate governance, Assignment Help, Ask Question on Role of corporate governance, Get Answer, Expert's Help, Role of corporate governance Discussions

Write discussion on Role of corporate governance
Your posts are moderated
Related Questions
Duke Power Corporation has $500 million (face value) of zero-coupon bonds, which will provide 6% return to the bondholders and will mature after 10 years. The stockholders of the c

Hello, can you help me to calculate the Discount rate and Internal Rate of Return?

#question.Baobab rolling mills owns a lathe machine which was purchased 10years ago at sh. 75 million. The machine had an expected life of 15 yrs at the time it was purchased, and


Source of short term finance

Do mergers result in layoffs? A: Overall employment in the banking industry actually has increased slightly over the last ten years. Some mergers do result in layoffs. However,

A? The effect of incorrect recognition of revenue on financial reportssk question #Minimum 100 words accepted#

1. The managers of Merton Medical Clinic are analyzing a proposed project. The project's most likely NPV is $120,000, but, as evidenced by the following NPV distribution, there is

how the knowledge of corporate finance helps thea multinational company to take decision about mergers and acquisition

How competitive is the market for banking services? A: With more than 7,000 banks and thrifts in the U.S., banking is one of the most competitive industries in the world. Consi