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Implement and Maintain Internal Control Procedures Assignment

   

Added on  2020-10-22

9 Pages2501 Words125 Views
Implement and maintaininternal control proceduresAssessment 1

Table of ContentsTable of ContentsINTRODUCTION...........................................................................................................................1Task .................................................................................................................................................1a. Rules, relationships, systems and process of corporate governance........................................1b. Corporate governance requirement, organizational policy and financial delegtion................2c. Ethical consideration and confidentiality for management......................................................3d. Companies promote responsible and ethical decision making................................................3e. Key features of financial legislation relating to taxable transaction and reportingrequirement..................................................................................................................................4f. Requirement of organizational policy elated to corporate governance and financialdelegation.....................................................................................................................................5Conclusion ......................................................................................................................................5REFERENCES................................................................................................................................7

INTRODUCTIONCorporate governance is a system that includes rules, regulations and practices thatorganizations use and follow for control and maintain. Through this system corporations balanceinterest of stakeholders, shareholders and employees, customers and suppliers. Corporategovernance makes rules, policies and regulations for improve and manage performance oforganization. So these things helps in maintain well relation between stakeholders andmanagement of organization and also helps in prevent conflicts (McCahery, Sautner and Starks,2016). This report will be cover that rules, relationships, systems and process of corporategovernance for organization. Its requirement and policies, ethical considerations, ethical decisionmaking.Task a. Rules, relationships, systems and process of corporate governanceCorporations achieve good corporate governance through if organization director andmanagers fulfill their duties with honesty and they also focus on establish better and well trustwith investors and public so that helps in achieve good corporate governance. Organizationselect and appoint competent board members that they have knowledge about manage andcontrol on activities and performance so these things helps in achieve good corporategovernance. If all employees and seniors of the organization fulfill their responsibility withhonesty so that helps in growth and improve company it and public confidence increase. If corporate governance of organization, make rules and policies in good way andcorrectly. These things helps in maintain god culture and relationship in organization that helpsin improve positive attitude in members and establish long term relationship. If this systemevaluates performance and fill gap for improve qualities and knowledge so that thing also helpsin achieve good governance. Confidence present in members of governance for management ofrisk that means they confidentially face risk and not ignore complex situation. Organizationeasily achieve good corporate governance if members of governance give timely information toorganization about all situations and conditions.Corporate governance is a set of rules, regulation, relationship and process inorganization because it make rules for organization and it members, seniors, management andstakeholders for keep control on them and they can not do work with their own wish so theserules and regulations helps in maintain discipline in organization. Rules like memorandum, and1

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