Chapter 12- Corporate Governance

Question 1

5 sections of the UK Corporate Governance Code

Answer 1

Board leadership & Company Purpose
Division of responsibilities
Composition, succession & evaluation (Nomination)
Audit, risk & Internal Control (Audit)
Remuneration

Question 2

do premium listed companies need to comply with UK Corporate Governance Code?

Answer 2

Principles√
annual report
√ how principles applied
√ provisions compliance & non compliance

Question 3

Large private companies follow what code?

Answer 3

WATES code

Question 4

Nomination- how frequent MUST NC evaluate the board?

Answer 4

ANNUALLY

Question 5

Nomination- how frequently should directors be re-elected?

Answer 5

ANNUALLY

Question 6

Nomination Committee- min. should how many NED?

Answer 6

> 50%

Question 7

Audit Committee- min should how many NED?

Answer 7

100%, min 3 pax, 2 pax (small co.)

Question 8

Remuneration Committee- min. should how many NED?

Answer 8

100%, min.3pax, 2 pax (small co.)

Question 9

Chair of RC min. should served RC how many mths?

Answer 9

12 MONTHS

Question 10

only ______ should be pensionable (NC)

Answer 10

basic salary

Question 11

ind. provisions- should min. ❌ employee for __ yrs

Answer 11

5

Question 12

ind. provisions- should min❌ material relationship ___yrs

Answer 12

3

Question 13

ind. provisions-should min❌ BoD ___yrs

Answer 13

9

Question 14

External audit role

Answer 14

opinion on how company complying with UK Corporate Governance code

Question 15

AC responsibilty- board MUST manage ____+____

Answer 15

risk & Internal control, unless separate RC with INED/BoD

Question 16

Workforce engagement- should either/ combination of ____

Answer 16

workforce director
NED (designated)
workforce advisory panel

if not, EXPLAIN❗️