ALL WRITTEN ASSIGNMENTS MUST BE EDITED TO AVOID PLAGIARISM
AUE2602 Assignment 2
UNISA GUIDE
UNIQUE NUMBER
STUDENT NUMBER
FOR FUTURE SERVICES INCLUDING
EXAM WRITING +27642338743
, ALL WRITTEN ASSIGNMENTS MUST BE EDITED TO AVOID PLAGIARISM
QUESTION 1
a) The board of directors (governing body)
Compliance aspects:
The principle that the CEO should be a member of the governing body is satisfied since Mr.
Sebastian Schwein the CEO of Goals Galore Limited is a member of the governing body
The principle that the governing body should comprise of at least two executive members is
satisfied since since there are four executive members namely Mr. Sebastian Schwein, Mr. Arno
Robben CA(SA), MsXabina Alonso and Mr. Christiaan Ronaldo.
It appears as if the composition attains the appropriate balance of knowledge, skills, experience,
diversity since members o the body belong to different fields of work.
Non-compliance aspects:
The principle that the majority of the members must be non-executive directors is not satisfied
since 50% of the members that is four out of eight are non-executive members.
The principle that most of non-executive directors must be independent is not satisfied since only
one director namely Ms. Louise Suarez out four non-executive directors is independent.
The principle that the chairman of the governing body should be an independent non-executive
director is not satisfied since Mr. Leon Messi is not an indipendent director since he currently
holds a material shareholding of 12% in Goals Galore
The board does not have a charter setting out its role, responsibilities, membership requirements
and procedural conduct
.
b) Audit committee composition and appointments
Compliance aspects:
The principle that the audit committee should comprise of at least three members is satisfied since
the audit committee is made up of five members
AUE2602 Assignment 2
UNISA GUIDE
UNIQUE NUMBER
STUDENT NUMBER
FOR FUTURE SERVICES INCLUDING
EXAM WRITING +27642338743
, ALL WRITTEN ASSIGNMENTS MUST BE EDITED TO AVOID PLAGIARISM
QUESTION 1
a) The board of directors (governing body)
Compliance aspects:
The principle that the CEO should be a member of the governing body is satisfied since Mr.
Sebastian Schwein the CEO of Goals Galore Limited is a member of the governing body
The principle that the governing body should comprise of at least two executive members is
satisfied since since there are four executive members namely Mr. Sebastian Schwein, Mr. Arno
Robben CA(SA), MsXabina Alonso and Mr. Christiaan Ronaldo.
It appears as if the composition attains the appropriate balance of knowledge, skills, experience,
diversity since members o the body belong to different fields of work.
Non-compliance aspects:
The principle that the majority of the members must be non-executive directors is not satisfied
since 50% of the members that is four out of eight are non-executive members.
The principle that most of non-executive directors must be independent is not satisfied since only
one director namely Ms. Louise Suarez out four non-executive directors is independent.
The principle that the chairman of the governing body should be an independent non-executive
director is not satisfied since Mr. Leon Messi is not an indipendent director since he currently
holds a material shareholding of 12% in Goals Galore
The board does not have a charter setting out its role, responsibilities, membership requirements
and procedural conduct
.
b) Audit committee composition and appointments
Compliance aspects:
The principle that the audit committee should comprise of at least three members is satisfied since
the audit committee is made up of five members
