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SBL > Governance - Technical Notes > Flashcards

Governance - Technical Notes Flashcards

1
Q

What is the pneumonic for concepts underpinning corporate governance?

A

HARDFORIJIT

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2
Q

What does HARDFORIJIT stand for?

A 
Honesty
Accountability
Responsibility
Diversity
Fairness
Openness
Reputation
Integrity
Judgement
Independence
Transparency
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3
Q

What is integrated thinking?

A

Leadership philosophy or main guiding principle that underpins integrated reporting. Integrated thinking requires leaders to think much more broadly about how the organisation affects and is affected by its environment and over a longer timeframe.

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4
Q

What are the 7 aims of integrated reporting?

A
  1. Quality
  2. Efficient
  3. Enhance accountability
  4. Short, medium and long term value
  5. Aimed at private sector
  6. Comparability
  7. More than just a summary
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5
Q

What are the six capitals

A 
Financial (funds)
Intellectual (knowledge)
Social (norms and values)
Human (motivations/skills)
Manufacturing (materials)
Natural (resources)
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6
Q

What are the content elements of integrated reporting?

A
  1. Organisational overview
  2. Governance
  3. Business Model
  4. Risks and opportunities
  5. Performance
  6. Outlook
  7. Strategy and resource allocation
  8. Basis of preparation
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7
Q

What are the roles and responsibilities of board of directors?

A 
Policy and strategic decisions
Monitoring and controlling activities
Leadership
Raising profile
Maintaining relationships with shareholders
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8
Q

What are the advantages of a unitary board?

A

Less agency costs
Quicker decisions
NEDs cannot be excluded
Experience of NEDs - better decision making

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9
Q

What are the advantages of a two tier board?

A

Less familiarity, greater objectivity
NEDs needed less regularly
Less regular meetings
NEDs may start developing strategy

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10
Q

What are the 4 things to remember for NEDs?

A

Strategy
Scrutinise
Risk
People

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11
Q

What are some advantages of NEDs?

A 
Full potential 
Oversee process
Protecting shareholders
Outside experience
Advice
Additional business connections
Independence
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12
Q

What is the CEO’s role?

A

Running organisation
Implementing decisions
Developing risk strategies
Reviewing structure

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13
Q

What is the Chairman’s role?

A 
Lead
Board effectiveness
Public face
Representative
Communication with shareholders
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14
Q

Which three committee are required? Which one is optional?

A

Audit (3 NEDs)
Remuneration
Nomination

Risk - optional

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15
Q

What is the public sector based on?

A

Efficiency
Effectiveness
Economy

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SBL (16 decks)

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