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Auditing Assignment Solution

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Added on  2020-04-21

Auditing Assignment Solution

   Added on 2020-04-21

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Auditing Assignment Solution_1
1By student name ProfessorUniversityDate: 07 November 2017.1 | P a g e
Auditing Assignment Solution_2
2ContentsTask 1 – Corporate Governance Review...................................................................3Task 2 – Code of Practice ..........................................................................................15Refrences...................................................................................................................172 | P a g e
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3Task 1 – Corporate Governance ReviewBetter Practice CharacteristicAssessmentCriteria MetY/NActions Required to MeetCriteriaStrategy and PlanningDo the Board and management understand the importance of achieving both business profits and social outcomes for clients?Yes (Pg.2, CGR, 2017)Does the organisation have a Strategic Plan and is it supported by a Risk Management Plan?Yes (Pg.6-7, CGR, 2017)Is there appropriate involvement of the Board, senior management and staff in the development of the Strategic Plan?Yes (Pg.8, CGR, 2017)Are clearly definable performance measures (operational and financial) and accountabilities incorporated into the Strategic Plan?Yes (Pg.7, CGR, 2017)Does the organisation have systems and processes in place to monitor performance against the Strategic Plan?Yes (Pg.10, CGR, 2017)Does the organisation review the Strategic Plan on a regular basis?Yes, on a yearly basisAre there appropriate links between the Strategic Plan and planning at the Board, senior management and individual levels?Yes, Board does in collaboration with senior managementDoes the organisation develop an annual Business Plan which is linked to the Strategic Plan and outlines what itwill be undertaking in the year ahead and which is endorsed and monitored by the Board?No, the company instead makes mission and vision and works towards it.The company should review the business plans annually and should align it with mission and vision.Operations of the Board and Senior ManagementDoes the Board and each Board Member understand that, individually and collectively, that they are responsible for governing the organisation?Yes, it shows from the responsibility statement of companyDoes each Board Member know the legal governance framework under which its organisation operates?Yes, the annual report clearly states this.Does each Board Member have access to an up to date copy of the legislation under which the organisation is registered?Yes (Pg.7, CGR, 2017)Does each Board Member have an up to date version ofthe organisation’s Constitution or Rules?Yes (Pg.7, CGR, 2017)3 | P a g e
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