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What is the purpose of corporate governance?

• To avoid compliance with regulations

• To maximize profits at any cost

• To facilitate accountability and responsibility for effective and efficient performance and ethical behavior

• To ignore stakeholder confidence

What are the two main approaches to the enforcement of corporate governance standards?

• 'Alternative or random'

• 'Follow blindly' and 'No compliance'

• 'Ignore or deny' and 'Partial compliance'

• 'Comply or explain' and 'Full compliance'

What is the role of non-executive directors in corporate governance?

• Stay silent and follow orders

• Question everything, but provide no solutions

• Uphold ethical standards, support executives, monitor conduct, and promote higher standards

• Ignore ethical standards, avoid executives, encourage misconduct, and lower standards

What is the main motivation for government departments to ensure good standards of corporate governance?

• Accountability

• Profit maximization

• Avoidance of regulations

• Ignorance of stakeholders

What is the ultimate test for evaluating the effectiveness of the board?

• The color of the boardroom walls

• The length of board members' speeches

• The impact of its decisions

• The number of meetings held

What is the purpose of the OECD Principles of Corporate Governance?

• To create chaos within organizations

• To develop an effective corporate governance framework that respects stakeholder rights

• To ignore stakeholders and focus on profits

• To promote unethical behavior

What is the role of the audit committee in corporate governance?

• Represent the third line of defense, uphold ethical standards, and ensure risk governance

• Create unnecessary obstacles, hinder progress, and discourage innovation

• Follow blindly and provide no input

• Avoid responsibility, ignore risks, and promote misconduct

What is the Organization for Economic Cooperation and Development (OECD) focused on?

• Helping governments tackle economic, social, and governance challenges

• Avoiding cooperation and development

• Creating more challenges for governments

• Promoting individualism and isolation

What is the purpose of the British Standards BS 13500:2013 'Code of practice for delivering effective governance of organizations'?

• To ensure that all elements of a good governance system are in place

• To lower governance standards

• To avoid compliance with regulations

• To create chaos and confusion within organizations