Write a director''s report on corporate governance matters

Reference no: EM131046853

Directors Report on Corporate Governance. Nordtek, AS, a manufacturer of fine skiing equipment based in Skien, Norway, has manuals of policies and procedures for monitoring and reporting on internal controls. The board has distributed a code of business ethics to all employees. New employees must undergo extensive background checks and knowledge testing and are then trained thoroughly. Eight of the ten members of the board of directors are independent of the company and all the audit committee members are independent (non-executive) directors. There are also board committees for executive remuneration, government relations and investment review. Management uses comprehensive budgets, revised regularly, and requiring board approval. They have an internal audit department whose employees are regularly rotated on their tasks. The internal audit department tests the internal controls for effectiveness. This year they reported to the board of directors that there was a material weakness in Nordtek's safeguarding of inventory because the storerooms were unlocked and there were no checks on those who entered or left the premises.

Required:

Write a Director's Report on Corporate Governance Matters for Nordtek.

Reference no: EM131046853

Questions Cloud

Role of culture when motivating employee : Consider the role of culture when motivating employees. Describe some differences that can gain employee trust in at least three countries. Each country should be located on a different continent.

Explain triggers and stored procedures : Give an example of an EAM that could be used to audit accounts receivable transactions. How would it work, and what data would be important to collect?

Brief description of the current state of problem or issue : You have been asked by your supervisor to provide business intelligence related to a problem about a disease or health condition in your department. Brief description of the current state of the problem or issue

Find a linear demand equation : Find a linear demand equation that shows the number of people who will attend the game if the price of a ticket is p dollars. Find the revenue per game as a function of the price.

Write a director''s report on corporate governance matters : This year they reported to the board of directors that there was a material weakness in Nordtek's safeguarding of inventory because the storerooms were unlocked and there were no checks on those who entered or left the premises.

Some money and securities from an unlocked safe : Michael owns a television repair shop that is insured under a commercial package policy. The policy includes the building and personal property coverage form and the causes-of-loss broad form. The declarations page indicates that coverage applies ..

Imagine the following independent sets of circumstances : Indicate the type of opinion you would render under each of above set of circumstances. Give reasons for your decision.

Discuss the specific action to be taken by the ca : In this situation what obligation does the CA have to a new auditor if he is replaced? Discuss briefly

Explain each step in the forecasting process for each method : Write a two to three (2-3) page paper in which you: Explain each step in the forecasting process for each method. Provide a brief summary of your researched health services organizations implementing the forecasting methods

User Account

All Pages