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    Gerente Module 2 Activity (Governance)

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    Aldrin Gerente
    The document discusses good governance, financial reporting responsibilities, and corporate governance systems. It asks whether absolute rules are required for good governance, what management's financial reporting responsibilities are, and the essence of corporate governance systems. It also discusses whether small businesses need good governance.

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    Gerente Module 2 Activity (Governance)

    Uploaded by

    Aldrin Gerente
    42 views1 page
    The document discusses good governance, financial reporting responsibilities, and corporate governance systems. It asks whether absolute rules are required for good governance, what management's financial reporting responsibilities are, and the essence of corporate governance systems. It also discusses whether small businesses need good governance.

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    The document discusses good governance, financial reporting responsibilities, and corporate governance systems. It asks whether absolute rules are required for good governance, what management's financial reporting responsibilities are, and the essence of corporate governance systems. It also discusses whether small businesses need good governance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    42 views1 page

    Gerente Module 2 Activity (Governance)

    Uploaded by

    Aldrin Gerente
    The document discusses good governance, financial reporting responsibilities, and corporate governance systems. It asks whether absolute rules are required for good governance, what management's financial reporting responsibilities are, and the essence of corporate governance systems. It also discusses whether small businesses need good governance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Gerente, Aldrin P. Nov.

    2,2020
    2BSA-3 Mr. Escoses
    GOVERNANCE, BUSINESS ETHICS, SOCIAL RESPONSIBILITY AND INTERNAL
    CONTROL

    Chapter 2 (Exercise)

    1. Does good governance require absolute rules that must be adopted by all
    organization?
    - There is no absolute rule which must be adopted by all organization. There is
    also no universal formula of having a good governance in an organization.
    Instead, emphasis in many localities has been encouraging organizations to
    give appropriate attention to the principles and adopt approaches which are
    tailored to the specific needs of an organization at a given point of time.

    2. What is management’s responsibility as far as financial reporting is concerned?


    - The management’s responsibility (if financial reporting are concerned) is to
    provide accurate and timely reports to shareholders and other stakeholders.
    They are also developing financial and other reports that meet public,
    stakeholder and regulatory requirements.

    3. What is the essence of any system of corporate governance?


    - The essence of any system of good corporate governance is to allow the
    board and management the freedom to drive their organization forward and to
    exercise that freedom within a framework of effective accountability.

    Do you agree? Explain.

    “Small business enterprises do not need good governance”

    - In context, small enterprises do need good governance. When discussing


    good governance, it is often spoken of in terms of a company’s corporate
    governance framework. The key elements within an effective good
    governance framework are relevant to organizations, large or small, in both
    private and public sectors. Small enterprises also uses a useful structure to
    consider its own approach to corporate governance and the matters which
    may assist to achieve its strategic objectives.

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