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ACCA考试《P1专业会计师》笔记5

ACCA考试《P1专业会计师》笔记5

  Boardcommittee  RolePurposeofinternalauditcommittee  (1)Consistingentirelyofindependentnon-executivedirectorswithatleastonehashadrelativeaccountingorfinancialexperience.  (2)Reviewingfinancialstatementsandsystemsincludingquarterly/interim/annualaccounts,financialreportingandbudgetarysystems.  (3)Keepingliaisonwithexternalauditors,includingappointing/removingoftheexternalauditors,consideringthethreatstoexternalauditorindependence,discussingthescopeofexternalaudit,actingasaforumbetweenexternalauditors,internalauditorsandfinancialdirectorandhelpingexternalauditorstoobtaintheinformation.  (4)Reviewinginternalauditthroughthefollowingaspects:standards,scope,resources,workplanandreporting.  (5)Reviewinginternalcontrolthroughthefollowingaspects:theadequacyofinternalcontrolsystem(focusingoncontrolenvironment),legalcompliance/ethnic/codesofconduct,riskoffraud,andcompanysannualstatementoninternalcontrol.  (6)Reviewingriskmanagementthroughthefollowingaspects:confirmingthereisaformalriskmanagementpolicyinplace,confirmingriskmanagementisupdatedtoreflectcurrentpositionandstrategy,andreviewingthearrangementsinordertoensurethatresponsibilitiesareawarebymanagerandstaff.  (7)Involvinginimplementingandreviewingone-offinvestigation.  RolePurposeofremunerationcommittee  (1)Consistingofindependentnon-executivedirectors.  (2)Inchargeofdetermininggeneralremunerationspolicyonexecutivedirectors.  (3)Determiningspecificremunerationpackageforeachdirector.  (4)Reportingtotheshareholdersaboutremunerationpolicyandpackagesofindividualdirectors.  RolePurposeofnominationcommittee  (1)Overseeingtheprocessforboardappointmentsandmakerecommendationstotheboard.  (2)Reviewingregularlythestructure,  (3)Evaluatingregularlythebalanceofskills,tors.  (4)Considerissuesrelatingtore-electionandreappointmentofdirectors.  RolePurposeofriskcommittee  (1)Approvingtheorganizationsriskmanagementstrategyandriskmanagementpolicy.  (2)Reviewingreportsonkeyriskspreparedbybusinessoperatingunits,managementandtheboard.  (3)Monitoringoverallexposuretoriskandensuringitremainswithinlimitssetbytheboard.  (4)Assessingtheeffectivenessoftheorganizationsriskmanagementsystems.  (5)Providingearlywarningtotheboardonemergingriskissuesandsignificantchangesinthecompanysexposuretorisks.  (6)Reviewingthecompanysstatementinconjunctionwiththeauditcommittee,oninternalcontrolwithreferencetoriskmanagement.  Directorsremuneration  Remunerationpolicystrategy  (Remunerationpolicy)  (1)Payscalesappliedtoeachdirectorspackage.  (2)Proportionofdifferenttypesofrewardwithineachpackage.  (3)Whatproportionofrewardsshouldberelatedtomeasurableperformance.  (4)Transparencyofdirectorsremuneration.  (5)Periodwithinwhichperformancerelatedelementsbecomepayable.  (Remunerationstrategy)  (1)Boardismotivatedtostrivetoincreaseperformanceandadequatelyrewardedwhenperformanceimprovementsareachieved.  (2)Boardisseentobepaidappropriatelyfortheireffortsandsuccess,andnotbecriticizedforexcessivepay.  (3)  (4)Remunerationstrategyshouldconsiderproblemssuchaschoiceofwrongmeasure,excessivefocusonshort-termresults.  (5)Remunerationstrategyshouldconsiderencouraginglong-termloyaltythroughsharepurchasesschemes,theavailabilityofcompanyresources,morebenefitinkindforlowerbasicsalary.  Remunerationpackages  (Basicsalary)  Isnotrelatedtoperformance,butisdeterminedthroughbenchmarkingpeergroupsalary,whichhowmuchothercompaniesmightbepreparedtopay.  (Performancerelatedbonuses)  Itiselementsofremunerationdependentontheachievementofsomeofperformancemeasurementcriteria,suchascashbonus.  (Sharesshareoptions)  (1)optioncanbeexercised,directorscanbuyatlowerpricethanmarketpriceandthenmightsellitataprofit.  (2)Shareoptionscanbeusedtogivetheexecutivetheincentivetomanagethecompanyinschawaytha,intheory,overcometheagencyproblem.  (BenefitsinkindPensions)  (1)Benefitsinkindarevariousnon-wagecompensationsprovidedtodirectorsandemployeesinadditiontotheirnormalwagesorsalariessuchaslifeinsurance,companycarscheme,holidays,andloans.  (2)Theremaybeseparatepensionschemeavailablefordirectorsathigherratesthanforemployees.  OtherIssuesassociatedwithdirectorsremuneration  (Legal)  (1)Consideringcompensationforthedirectorsinthecaseofearlytermination.  (2)Aimingtoavoidrewardingpoorperformance.  (Ethical)  (1)Publicreactiontohighprofilecorporationfailurewheredirectorswerereceivingwhatwasperceivedasexcessiveremunerationinrelationtotheirperformance.  (2)Recentchangestobestpracticedisclosurerequirementsonboardstructureandexecutivepay.  (3)Incorporatingbusinessethicsintoperformance-relatedremunerationsystem.  (Competitive)  (1)Itisvitalforacompanytohaveaproficient,motivatedboardofdirectorsworkingfortheinterestofshareholders.  (2)Shareholdersshouldprovidethecompanywithresourcestorecruitandretaindirectorsundercompetitiveterms.  (Regulatory)  (1)Directorsneedtosubmitaremunerationreporttomembersattheannualgeneralmeetingeachyear.  (2)Thereportmustprovidefulldetailsofdirectorsremuneration,andshouldbeclear,transparentandunderstandabletoshareholders.  (3)Whenanexecutivedirectorservesasanon-executivedirectorelsewhere,theremunerationreportshouldstatewhetherornottheremunerationofthatdirectorwillretainandwhattheremunerationis.  (4)Theincreasinglyregulatoryenvironmentreflectstheadditionaldemandonandresponsibilitiesofdirectors,andtheheightenedexternalscrutinytotheremunerationofdirectors.。

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