Corporate Gorvernnnace

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Corporate Governance refers to the system of processes, practices, and rules which are used to manage and control organizations. According to (Organization for Economic Co-operation and Development, 2019), it includes the relationship between stakeholders such as boards of directors, management, auditors, shareholders, and regulatory bodies.
In the Accounting curriculum, learners are expected to:
-Evaluate internal control systems within organizations
-Explain governance roles and structures
-Analyse unethical and ethical business practices
-Apply governance principles to real-life scenarios

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Lerato Mokoena

South Africa

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Corporate GorvernnnaceOnline version Corporate Governance refers to the system of processes, practices, and rules which are used to manage and control organizations. According to (Organization for Economic Co-operation and Development, 2019), it includes the relationship between stakeholders such as boards of directors, management, auditors, shareholders, and regulatory bodies. In the Accounting curriculum, learners are expected to: -Evaluate internal control systems within organizations -Explain governance roles and structures -Analyse unethical and ethical business practices -Apply governance principles to real-life scenarios by Lerato Mokoena 1 Required. Which of the following best explains the role of the internal auditor? a Oversee the preparation /internal audit of the financial statement before external audit b To provide strategic direction, make key decisions, and ensure the company is properly governed c To provide overall leadership, implement company strategy, and manage daily operations d To monitor and promote ethical behaviour, ensure compliance with ethical standards, and address unethical practice 2 Which of the following is a valid reason why the accounting records of a listed company must be audited by an external auditor? a To assist management in making daily business decisions b It is the requirement of the companies Act it confirms that the company complies for standards/ Accounting principles/ internal reporting c To replace the role of the internal auditor d To prepare the company’s financial record 3 Whistle-Blowers(INFORMANTS) Which of the following is the most appropriate response a company should give to whistle-blowers regarding concerns that they are not willing to take a stand against corruption? a The company discourages whistle-blowing to protect management reputation b . The company will ignore whistle-blowers to avoid internal conflict c The company will dismiss any employee who reports unethical behaviour d She could take the company to CCMA Feedback 1 In this scenario, the internal auditor, Moeketsi Mtshali, played a key role in improving internal controls, detecting fraud, and promoting ethical behaviour. She helped turn the company from a loss to a profit and exposed irregular payments of R3 500 million linked to senior management. This shows that an internal auditor must identify and report corruption and protect the company’s resources. However, her dismissal highlights poor corporate governance, as management ignored her findings instead of addressing the wrongdoing. The later discovery by external auditors proves that she acted correctly. 2 An external auditor is needed because they are independent and provide an unbiased opinion on the company’s financial statements. In this scenario, Moeketsi exposed fraud but was dismissed by management, showing a lack of transparency. The external auditors later discovered additional irregular payments, proving that independent audits are essential to detect fraud, ensure accountability, and maintain trust in financial reporting. 3 EXPECTED Responses /Responses must support the whistle blowing

Corporate GorvernnnaceOnline version

Corporate Governance refers to the system of processes, practices, and rules which are used to manage and control organizations. According to (Organization for Economic Co-operation and Development, 2019), it includes the relationship between stakeholders such as boards of directors, management, auditors, shareholders, and regulatory bodies. In the Accounting curriculum, learners are expected to: -Evaluate internal control systems within organizations -Explain governance roles and structures -Analyse unethical and ethical business practices -Apply governance principles to real-life scenarios

by Lerato Mokoena

Required. Which of the following best explains the role of the internal auditor?

Oversee the preparation /internal audit of the financial statement before external audit

To provide strategic direction, make key decisions, and ensure the company is properly governed

To provide overall leadership, implement company strategy, and manage daily operations

To monitor and promote ethical behaviour, ensure compliance with ethical standards, and address unethical practice

Which of the following is a valid reason why the accounting records of a listed company must be audited by an external auditor?

To assist management in making daily business decisions

It is the requirement of the companies Act it confirms that the company complies for standards/ Accounting principles/ internal reporting

To replace the role of the internal auditor

To prepare the company’s financial record

Whistle-Blowers(INFORMANTS) Which of the following is the most appropriate response a company should give to whistle-blowers regarding concerns that they are not willing to take a stand against corruption?

The company discourages whistle-blowing to protect management reputation

. The company will ignore whistle-blowers to avoid internal conflict

The company will dismiss any employee who reports unethical behaviour

She could take the company to CCMA

Feedback

In this scenario, the internal auditor, Moeketsi Mtshali, played a key role in improving internal controls, detecting fraud, and promoting ethical behaviour. She helped turn the company from a loss to a profit and exposed irregular payments of R3 500 million linked to senior management. This shows that an internal auditor must identify and report corruption and protect the company’s resources. However, her dismissal highlights poor corporate governance, as management ignored her findings instead of addressing the wrongdoing. The later discovery by external auditors proves that she acted correctly.

An external auditor is needed because they are independent and provide an unbiased opinion on the company’s financial statements. In this scenario, Moeketsi exposed fraud but was dismissed by management, showing a lack of transparency. The external auditors later discovered additional irregular payments, proving that independent audits are essential to detect fraud, ensure accountability, and maintain trust in financial reporting.

EXPECTED Responses /Responses must support the whistle blowing

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Corporate Gorvernnnace

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Corporate GorvernnnaceOnline version

by Lerato Mokoena

Required. Which of the following best explains the role of the internal auditor?

Which of the following is a valid reason why the accounting records of a listed company must be audited by an external auditor?

Whistle-Blowers(INFORMANTS) Which of the following is the most appropriate response a company should give to whistle-blowers regarding concerns that they are not willing to take a stand against corruption?

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