Introduction to Corporate Governance – Questions and Answers

Subject Title: Introduction to Law and Governance Revision Kit

TOPIC: Introduction to Corporate Governance

QUESTION 1
April 2023 Question Six A
(a) With respect to corporate governance:
(i) Distinguish between “agency theory” and “stewardship theory”. (4 marks)

(ii) Identify SIX causes of agency problem in organisations. (6 marks)

QUESTION 2
December 2022 Question One B(i)
Explain FOUR benefits of carrying out a legal audit in a corporation. (4 marks)

QUESTION 3
December 2022 Question Five A
(i) Define the term “corporate governance”. (2 marks)
(ii) Outline SIX principles of corporate governance. (6 marks)

QUESTION 4
April 2022 Question Five A
(i) Outline two types of on-site legal audit processes that might be used during data collection. (2 marks)
(ii) Highlight two disadvantages of a legal audit. (4 marks)
(iii) Outline four attributes required of a legal auditor. (4 marks)

QUESTION 5
December 2021 Question Four A
In relation to corporate governance:
(i) Define the term “legal audit”. (2 marks)
(ii) Discuss four purposes of legal audit. (8 marks)

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