| Internal Auditing in Not-For-Profit Organizations | TABLE OF CONTENTS ABSTRACT: 2 INTRODUCTION 2 SECTION I: CORPORATE GOVERNANCE 3 1. Corporate Governance Reforms Relevant to NPOs 3 2. Audit Committees of NPOs 4 SECTION II: RISK MANAGEMENT 6 1. Absence of Risk Management in NPO 6 2. Reasons for Risk Management in NPO 7 3. Process of Risk Management in NPO 9 SECTION III: INTERNAL CONTROLS 10 1. An illustrative example 10 2. Good Internal Controls 11 3. Strengthening Internal
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A review of corporate governance in UK banks and other financial industry entities: the role of institutional shareholders Robert A. G. Monks Robert A. G. Monks, in his article ‘A review of corporate governance in UK banks and other financial industry entities: the role of institutional shareholders’, states that the problem with the British and American corporate governance system is that the majority of the shareholders, both institutional and individual, do not act as owners. The aim of
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1.Capital structure A capital structure refers to the way a corporation finances its assets through the mix of equity, debt or hybrid securities. The optimal capital structure is the one in which, the market value of the firm is maximized when its cost of capital is minimized. The firm should adopt the EPS- EBIT approach to the capital structure. This approach involves selecting the capital structure that maximizes EPS (Earnings per share) over the expected range of EBIT (Earnings before interest
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A. Corporate finance is important to all managers because they must generate enough cash to compensate the investors who provide necessary capital to help company by evaluating any proposal, whether it relates to marketing, production, strategy, or any other area, and implement only products that will add value to company investors. B. The organizational forms of a company is proprietorship, partnership, and corporation: Proprietorship is an unincorporated business owned by one individual
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Business Law I- LEG100 February 2,2013 Legal astuteness is the ability of a manager to communicate effectively with counsel and to work together to solve complex problems is a valuable managerial capability that may provide a competitive advantage under the resource-based view of the firm. There are four components to legal astuteness: (1) a set of value-laden attitudes, (2) a proactive approach, (3) the ability to exercise informed judgment, and (4) context-specific knowledge of the law and the
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directors come under judicial scrutiny such as: directors acting to oppose a hostile bid for corporate control, directors responding to a tender offer and proxy contest, and when a corporate board decides to sell the corporation for cash 18B Am. Jur. 2d Corporations §1459. Majority of corporations are incorporated under the state of Delaware’s laws making those cases crucial to how business interacts with the law. The board of directors not only have to prove the good faith of the transaction but also
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U04A1 Case Law Analysis – Business Entities Debbie M. Balzum BARKAN v. DUNKIN’ DONUTS, INC. United States Court of Appeals, First Circuit No. 10-1247 (2010) Facts: The plaintiffs, Irwin Barkan and D & D Barkan LLC, filed suit against Dunkin’ Donuts, Inc. and Baskin-Robbins USA, Co., alleging breach of contract. Barkan’s claimed that according to their contract, Dunkin’ Donuts, Inc. had promised to work with Barkan and the CIT group to refinance Barkan’s debt to CIT. Barkan became a
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responsibility rules. The Sarbanes- Oxley Act has created a positive impact on the ethical culture of large corporations. Changes in corporate governance have made it much more difficult for executives to make decisions that could cause corporate collapse. A full board of directors creates a system that can fully comply with federal financial reporting laws. Even though the privately held companies may be held to have certain Sarbanes- based provisions it’s okay in many ways. In conclusion
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ASSIGNMENT ON CORPORATE GOVERNANCE AND ETHICS SUBMITTED BY:- SREESARAN R 13MBA0097 HISTORY Halliburton Company is an American multinational corporation founded in 1919 and currently one of the world's largest oil field services companies with operations in more than 80 countries. It owns hundreds of subsidiaries, affiliates, branches, brands, and divisions worldwide and employs over 100,000 people. The company has dual headquarters located in Houston and
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The second issue for the company was making fake accounting entries to make them look like they generated revenues from corporate unallocated revenue accounts. WorldCom had approximately $3.8 billion in fraud of June 2002. For unethical practices WorldCom was capitalizing their products when they should have been expensing them. As well WorldCom was generating revenues to corporate unallocated revenue accounts. To counter this measure the external auditors are to sample this company and give a strong
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