Академический Документы
Профессиональный Документы
Культура Документы
• Obligations to investors
Instruments of Corporate
governance
• Internal control system
• audits
• Codes, that emphasize the importance of
transparency, accountability, internal controls,
board composition and structure, independent
directors, and performance related executive
pay, tries to encourage both transparency and
accountability
Risk Management Structure
Board of Directors
Delegated Daily Managed Internal Controls
Risk Management and Business Risk
Department Heads
Traders
Possible Breach of Duty
• Directors were aware that CAO was
speculating in options
• No effective risk management guidelines in
practice on options trading
• Board of Directors allegedly not aware of
losses incurred
• Audit Committee and internal audit did not
detect losses
Critical Failures
16
Any questions?