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Why the directors remuneration and bonuses should be disclosed?
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When a portion of inventories has been pledged as security on a loan?
the fact should be disclosed(notes) but the amount of current assets should not be affected
Should employees salary kept confidential?
Yes, employee salaries should remain confidential. When salaries are disclosed, it can create conflict in the workplace when one employee is getting paid less for doing the same job as another.
Which segment of its operations got Enron into difficulties?
1. Which segment of its operations got Enron into difficulties? 2. Did Enron's directors understand how profits were being made in this segment? Why and why not? a. Enron's directors realized that Enron's conflict of interests policy would be violated by Fastow's proposed SPE management and operating arrangements because they proposed alternative oversight measures. What was wrong with their alternatives? 3. Ken Lay was the chair of the board and the CEO for much of the time. How did this probably contribute to the lack of proper governance? 4. What aspects of the Enron governance system failed to work properly and why? 5. Why didn't more whistleblowers come forward, and why didn't some make significant difference? How would whistleblowers have been encouraged? 6. What were the common aspects that were necessary for the Enron and WorldCom debacles to occur? 7. What actions by directors, executives and professional accountants could have prevented the Enron and WorldCom Debacles 8. Was the enactment of the Sarbanes-Oxley Act (SOX) necessary? Why or why not? 9. What are the three most important improvements in the governance structure that could result from Enron from SOX? 10. What is wrong with Enron's bank financing transactions they knew were without economic substance? 11. How should boards of directors change incentive remuneration schemes for executives to lessen the risk of motivating executives to risk manipulations to enrich themselves 12. What lessons you could learn from reviewing the cases?
A debt instrument with no ready market is exchanged for property whose fair market value is currently indeterminable When such a transaction takes place?
the directors of both entities involved in the transaction should negotiate a value to be assigned to the property.
What would a person have to do to improve their credit rating when they have no credit at all?
To improve a credit rating with no credit at all is to find a reliable source of revolving credit. A merchant or credit card that reports to the major creditors monthly. Many credit cards offer this and it should be disclosed before you try to be approved.
Why is it necessary for for directors remuneration and bonuses to be disclosed in financial statements?
According to King Code III chapter 2 paragraph 180 requires that companies should disclose the remuneration of each individual directors and certain senior executives
Does non-profit pay the directors?
Non-profit organizations can pay their directors, but it is not the norm. If directors are paid, it should be reasonable and commensurate with the services they provide to the organization. Payments should be disclosed in the organization's financial records and reported accurately.
Should company directors attend an AGM?
Yes, all company Non-executive Directors can attend the AGM.
Should CEO'S stay in financial companies and still earned over million dollar bonuses?
yes They deserve their bonuses. They what make the companies thrive in the first place.
Why should an inheritance be disclosed to a trustee after the tax year has passed but before the bankruptcy is discharged?
Absolutely.
What does a board of directors do?
They oversee a company and answer to stock holders. The board of directors provides the company with direction and advice. It is the responsibility of the board of directors to ensure that the company fulfills its mission statement. In doing so, the board of directors frequently sets the company's policy objectives. A good board of directors should include knowledgeable and experienced business people. From: http:/www.wisegeek.com/what-does-a-board-of-directors-do.htm A board of directors should NOT be made up of friends and relatives; one or two members can be friends or acquaintances if they are business people or experienced board members.
When a portion of inventories has been pledged as security on a loan?
the fact should be disclosed(notes) but the amount of current assets should not be affected
What are the key feature of effective boards of directors?
Effective board of directors should have many traits. Knowledge of the company, an understanding of policies, and the ability to listen to problems that may have to be addressed are key qualities of a member of a board of directors.
Who decides how profits should be spent in a corporation?
Ultimately, the Board of Directors decides how profits should be spent in a corporation.
What kind of documents are articles of association?
They are documents that outline the tasks a board of directors should undertake within a company. Additionally they outline the type of business the company should practice and outline the control shareholders have over the board of directors.
Indian companies act 1956 with respect of directors in the company?
PROVISIONS OF COMPANIES ACT 1956 (herein referred to as "Act") WITH RESPECT TO CORPORATE GOVERNANCE Disclosures on Remuneration of Directors: The specific disclosures on the remuneration of directors regarding all elements of remuneration package of all the directors should be made as a part of Corporate Governance. Section 299 of the Act requires every director of a company to make disclosure, at the Board meeting, of the nature of his concern or interest in a contract or arrangement (present or proposed) entered by or on behalf of the company. The company is also required to record such transactions in the Register of Contract under section 301 of the Act. Requirements of the Audit Committee: Audit Committee has a critical role to play in ensuring the integrity of financial management of the company. This Committee add assurance to the shareholders that the auditors, who act on their behalf, are in a position to safeguard their interests. Besides the requirements of Clause 49, section 292A of the Act requires every public having paid up capital of Rs 5 crores or more shall constitute a committee of the board to be known as Audit Committee. As per the Act, the committee shall consist of at least three directors, two-third of the total strength shall be directors other than managing or whole time directors. The Annual Report of the company shall disclose the composition of the Audit Committee. The recommendations of the committee on any matter relating to financial management including Audit Report, shall be binding on the board. In case board does not accept the recommendations so made, the committee shall record the reasons thereof, which should be communicated to the shareholders, probably through the Corporate Governance Report. The committee shall act in accordance with the terms of reference to be specified in writing by the board. The committee should have periodic discussions with the auditors about the Internal Control Systems and the scope of audit including the observations of the auditors. If the default is made in complying with the said provision of the Act, then the company and every officer in default shall be punishable with imprisonment for a term extending to a year or with fine up to Rs 50000 or both. Director's remuneration: Section 309(1) of the Act requires that the remuneration payable both to the executive as well as non-executive directors is required to be determined by the board in accordance with and subject to the provisions of section 198 either by the articles of the company or by resolution or if the articles so require, by a special resolution, passed by the company in a general meeting. Further, Schedule VI of the Act requires disclosure of Director's remuneration and computation of net profits for that purpose. Corporate Democracy: Wider participation by the shareholders in the decision making process is a pre-condition for democratizing corporate bodies. Due to geographical distance or other practical problems, a substantially large number of shareholders cannot attend the general meetings. To overcome these obstacles and pave way for introduction of real corporate democracy, section 192A of the Act and the Companies (Passing of Resolution by Postal Ballot), Rulesprovides for certain resolutions to be approved and passed by the shareholders through postal ballots. for further querry you are wwelcome to sachinmaurya@gmail.com
Can a HOA board of directors be sued for fiduciary neglect?
If the neglect caused damages then you may have a case. You should consult with an attorney who can review your situation and explain your rights and options.Furthermore, the bylaws of the HOA, or state law, may require that the board of directors maintain insurance covering their acts or neglect in fulfilling their duties. The specifics of that should be investigated. If there is such insurance, it should be readily disclosed to you. Make note of the insurance company name, the policy number, and the persons designated as being insured under the policy. If you consult an attorney for the matter, bring that information with you. It will make a difference in the attorney's assessment of the potential of the case, as insurance may provide a source of money damages.Added: ... not to mention, the attorney's fee.
