In terms of the third principle of the King IV Code on corporate governance, the governing body should ensure that the organisation is and is seen to be a responsible corporate citizen.Identify the recommended practice by the governing body that relates to the third principle.a.Approve codes of conduct and ethics policies that articulate and give effect to its direction on organisational ethics.b.Being transparent in the manner in which the governing body exercise their governance role and responsibilities.c.Assuming responsibility for corporate citizenship by setting the direction for how it should be approached and addressed by the organisation.d.Exercising courage in taking risks and capturing opportunities, but to do so in a responsible manner and in the best interests of the organisation
Question
In terms of the third principle of the King IV Code on corporate governance, the governing body should ensure that the organisation is and is seen to be a responsible corporate citizen.Identify the recommended practice by the governing body that relates to the third principle.a.Approve codes of conduct and ethics policies that articulate and give effect to its direction on organisational ethics.b.Being transparent in the manner in which the governing body exercise their governance role and responsibilities.c.Assuming responsibility for corporate citizenship by setting the direction for how it should be approached and addressed by the organisation.d.Exercising courage in taking risks and capturing opportunities, but to do so in a responsible manner and in the best interests of the organisation
Solution
The recommended practice by the governing body that relates to the third principle of the King IV Code on corporate governance is:
c. Assuming responsibility for corporate citizenship by setting the direction for how it should be approached and addressed by the organisation.
This practice implies that the governing body should take the lead in ensuring that the organisation behaves as a responsible corporate citizen. This includes setting the guidelines and expectations for how the organisation should interact with its stakeholders and the broader community, and how it should manage its impact on the environment, society, and the economy.
Similar Questions
In terms of the first principle of the King IV Code on corporate governance, the governing body should lead ethically and effectively. Accordingly, integrity is a characteristic that the members of the governing body are required to exhibit.Select the correct example of integrity exhibited by a member of the governing body.a.Willingness to answer for the execution of their responsibilities, even when these were delegated.b.Continuously developing competence to lead effectively.c.Attending meetings of the governing body and its committees, and devoting sufficient time and effort to prepare for those meetings.d.Acting ethically beyond mere legal compliance
Ethics are the ____________ that are essential in the design and implementation of corporate governance.a.accountabilityb.examplesc.regulationsd.guidelines
Which of the following is not a principle of leadership ethics and corporate citizenship?a.The board should ensure that the company is, and is seen to be, a responsible citizen.b.The board should govern the ethics of the company in a way that supports the establishment of an ethical culture.c.The board should ensure the company is efficiently and effectively managed to maximise shareholder’s wealth.d.The board should lead ethically and effectively.
Given recent Royal Commission into Misconduct in Banking, Superannuation and Financial Services Industry, an organisation should promote ethical and responsible decision making by:(i) having clearly specified codes of conduct for employees and management;(ii) having standards for dealing with various organisational stakeholders;(iii) having procedures to be followed when investigating potential unethical activities within the organisation;(iv) taking legal actions immediately against unethical conducts.Question 3AnswerSelect one:a.(i) (ii) (iii) onlyb.(i) (iii) (iv) onlyc.(i) (ii) (iii) (iv)d.(i) only
what does corporate, governance and Ethics means
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.