Reference no: EM133147139 , Length: word count:2800
GAA6003 Audit and Corporate Governance - Gulf College
Aim: This module builds upon the basic foundations developed in accounting and financial reporting. Students should be able to apply advanced auditing techniques as well as dealing with corporate governance in audit and general auditing practice. Students should be able to apply the principles of auditing to situations that they may meet in practice and critically evaluate the role of the auditor.
Learning Outcome 1: Understand the advanced theories and practice of auditing activities and procedures.
Learning Outcome 2: Critically analyse and evaluate issues relating to auditing and the auditor's responsibilities
Learning Outcome 3: Understand and critically analyse the recent developments in corporate governance in Omani Context.
Learning Outcome 4: Understand and critically analyse the theories and practices related to Corporate Governance for the Omani Listed Companies.
Assessment Task
This assessment requires the students to complete two tasks equivalent to 2800 words.
Task 1. Requires 1400 words
"The purpose of Corporate Governance is to set out processes by which corporates are controlled and directed to create efficient enterprises contributing to building a strong, transparent and competitive national economy. The aim of such a process is to mitigate any adverse impact on the national economy, the stakeholders and the local community arising from failure to comply with corporate governance best practices."
Discuss the corporate governance practices implemented in Omani Joint Stock Companies: Guidelines to students:
• Give a brief introduction about the processes whereby an Omani Joint Stock company is directed and controlled under the Code of Corporate Governance for Public Listed Companies,2016. 100 words
• Critically evaluate the formation, roles and responsibilities of the Board of Directors in an Omani Joint Stock Company. 600 words
• Critically analyse the Board of Director's authority and competencies, as per the requirements of the Code of corporate governance for Omani listed companies 2016. 600 words
• Conclusion. 100 words
Task 2. Requires 1400 words
"The board of directors shall establish an audit committee (the "committee") and set out its terms of reference detailing: the names of its members, its competences and functions, duties and any other provisions relating to its work or tasks."
Capital Market Authority, 2016.
Critically discuss the role of Audit Committees in Omani Joint Stock Company Guidelines to students:
• Give a brief introduction to the constitution of an Audit committee.
How does an audit committee assist the Board of Directors? 150 words
• Critically evaluate the competencies of audit committee. 600 words
• Critically analyse the difference between internal auditors and external auditors. 500 words
• Conclusion 150 words
• References for both Tasks
You are required to provide at least ten (10) references which includes all sources like books, ebooks and academic websites using the proper Harvard Referencing Style.
Attachment:- Corporate Governance.rar
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