Discuss whether the board and sub-committee structure

Assignment Help Accounting Basics
Reference no: EM132652707

Discussion Questions - 1. "The recent wave of financial scandals indicates that regulators are often slow in responding to those scandals, bringing enforcement actions against corporate wrongdoers, and preventing widespread effects of aversion towards the scandal." Do you agree with the given statement? Why?

Case study

Purpleflex PLC is a large publicly listed company that produces a variety of products for the building industry. Harry Humber has been the CEO and Chairman of Purpleflex since the company's inception almost 12 years ago.

In addition to Harry, the senior executives of Purpleflex include:

Benjamin Bamert - chief financial officer (CFO)

Angela Adventis - chief investment officer (CIO)

Penny Pontomac - chief operating officer (COO).

The current board of directors is made up of the four executive directors noted above and three non-executive directors:

Ronald Ravens - also a substantial shareholder with 23% shareholding

Sonia Spiteri - a nominee director representing the interests of a debt-funding syndicate to Purpleflex

William Wolters - an independent director with a number of years' experience in the building industry.

The board has an audit committee which meets regularly during the year:

Chaired by Benjamin

Also includes Sonia and William - neither Sonia nor William has relevant financial experience.

Discuss whether the board and sub-committee structure/composition of Purpleflex PLC breaches the UK FRC Corporate Governance Code and what rectification measures, if any, are required. Your answer should refer to case facts and relevant paragraph number(s) of the Code.

Reference no: EM132652707

Questions Cloud

Protection and rights : Discuss whether equal protection really changes and whether or not the 2008 presidential election expedited this timeline.
Relevant reasons for low voter turnout in local elections : Discuss what you believe are the two most relevant reasons for low voter turnout in local elections compared to national elections
What is the maximum amount she can contribute : If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to a simplified employee pension (SEP) IRA for 2018
Regarding political ideologies : By now, you have gained some insight regarding political ideologies and how they are applied to American government.
Discuss whether the board and sub-committee structure : Discuss whether the board and sub-committee structure/composition of Purpleflex PLC breaches the UK FRC Corporate Governance Code
What is the ex-dividend date-telephonic inc : The dividend was paid on March 1, 20X8, to shareholders on record on February 19, 20X8. What is the ex-dividend date?
Find garrett corporation taxable income : Jonathan Corporation, use M-1 of Form 1120, which is available on the IRS website, to determine Garrett Corporation's taxable income for 2019.
Engage in efforts to return disaster-impacted areas : Emergency recovery means to engage in efforts to return disaster-impacted areas back to functioning and, to the greatest appreciable extent,
Determine the correct cash accountability at December : The cashier showed a cash accountability of P12, 000 as at December 31, 2019. Determine the correct cash accountability at December

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd