explain what is required of companies when it comes to three issues listed below. 1. sound...

explain what is required of companies when it comes to three issues listed below.

1. sound ethical culture,

2. effective governance structure?

3. effective internal controls.

Solutions

Expert Solution

1. companies are required to promote ethical culture so that they can enhance employees morale and can motivate them to focus on social responsibility and fairness. companies should encourage employees to raise issues and be active in the ethics program through ethical training also the violators should be punished.

2. the companies should have a proper governance structure with proper rules and laws to direct and manage the company. the main focus remains on the boards of directors as they are the primary stakeholders influencing the governance of the company. there should be equity, transparency, accountability and responsiveness in the governing body of the company so that it can generate trust among the employees.

3. an effective internal control includes the company's plan of organization and all the action it takes to protects its data and resources from theft or fro getting waste. Internal control needs to be strong and can be improved by developing written policies, regularly performing reconciliations activity, by providing adequate training to staff and by maintaining strong supporting dcumentation.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

For three of the four terms listed below, explain what the term means and how it...

For three of the four terms listed below, explain what the term means and how it matters in European economic history. The points indicate that you should give five minutes to each of these questions. In most cases, a two-three sentence answer is fine. (5 points each) (1) Comparative advantage (2) Siemens-Martin process (3) Eminent domain (4) Solow residual

1. Using the internet, explain the improvement methods used by some companies listed below. How do...

1. Using the internet, explain the improvement methods used by some companies listed below. How do they differ from the five and seven step methods in the text? • 8D Improvement method • TRIZ • Any other method used by organizations: Findings:

Project Issue Reports: A concise word-processed summary is required for the Project Issues listed below: Design...

Project Issue Reports: A concise word-processed summary is required for the Project Issues listed below: Design of a Compact and Lightweight Lawn Mower System Discuss the principles of engineering, sciences and mathematics applied to identify, formulate, and solve the problem ?

1.What are at least three attributes of a good sample when it comes to assessment characteristic...

1.What are at least three attributes of a good sample when it comes to assessment characteristic and making predictions about the actions of populations 2. what factors contributes to the wealth gap between blacks, whites and women

Explain the term ‘sound attenuation.’ What factors are most important when considering sound attenuation requirements of...

Explain the term ‘sound attenuation.’ What factors are most important when considering sound attenuation requirements of a party wall

Use two textbook companies today and give MANY examples of the companys' benefits listed below: Legally-Required...

Use two textbook companies today and give MANY examples of the companys' benefits listed below: Legally-Required Benefits Retirement-Related Benefits Insurance-Related Benefits other benefits

What are the THREE opportunities for the marketer when it comes to the location? How does...

What are the THREE opportunities for the marketer when it comes to the location? How does Rony describe the increase use of location based data ? What is the first example of crowdsourcing in the web? What is the technology that enable the virtual crowd? What is the building block of the crowdsourcing?

When it comes to making sound decisions an effective management information system acts as an important...

When it comes to making sound decisions an effective management information system acts as an important part of the process. To what extent would you agree with this perspective and why? You must draw upon relevant theory, concepts and models and appropriate organisational examples. In order to complete this task, you will need to consider as a first step the factors outlined in the course materials, referring as a start to the lessons on Introduction and the Role of Business...

Describe the difference in sound that comes from a two-way and a three-way speaker system.

When it comes to stock, companies can issue either preferred stock or common stock. What is...

When it comes to stock, companies can issue either preferred stock or common stock. What is one difference between them? From the company's point of view, what is the difference between issuing stock and bonds?

Subjects