Key Management – Knowsia

MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

Question

Section 58 of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930) prohibits a person from being appointed, elected or from accepting an appointment or election as a Director or Key Management Person of an MFI. Discuss 4 compelling justifications of the disqualification of a person appointed, elected or from accepting an appointment or election as a Director or Key Management Person of an MFI.

(20 Marks)

Answer

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Tags: Directors, Disqualification, Key Management, MFIs, Section 58 Act 930
Level: Level 4

Topic: Microfinance Institutions Regulation and Supervision
Series: OCT 2022

MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

Question

(20 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Directors, Disqualification, Key Management, MFIs, Section 58 Act 930
Level: Level 4

Topic: Microfinance Institutions Regulation and Supervision
Series: OCT 2022

CR – May 2016 – L3 – Q7a – Related Party Disclosures (IAS 24)

Discuss the appropriate disclosure of related party transactions and director remuneration under IAS 24 for IBRO Plc.

Question

a) IBRO Plc provided the remuneration of its management board made up of executive and non-executive directors (including 2 foreign nationals) as follows:

Annual basic salary
Bonus scheme (Annual compensation)

Four of the directors of IBRO Plc obtained loans from the company at concessional rates, while 2 directors are part of the bondholders of the company’s loan stock with convertible features to their advantage.

In the group financial statements, with the related parties note under IAS 24 – Related Party Disclosures, IBRO Plc disclosed the total remuneration paid to directors and non-executive directors. No further breakdown of the remuneration was provided. The remuneration of the non-executive directors, however, was not included in the key management disclosures.

IBRO Plc was of the opinion that in its jurisdiction, providing information about individual director’s remunerations would be a disservice to them, especially because they have served the company meritoriously. Consequently, the CFO of the company is proposing to disclose the related party information in the annual financial statements in an ambiguous manner to prevent users of the financial statements from linking remuneration information to specific individual directors.

Required:
Discuss the appropriate disclosure for the above transactions within the context of IAS 24 – Related Party Disclosures in the financial statements of IBRO Plc for the year ended December 31, 2014.

Answer

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Tags: IAS 24, Key Management, Related Party Disclosures, Related Party Transactions, Remuneration
Level: Level 3

Topic: Related Party Disclosures (IAS 24)

MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

Question

(20 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Directors, Disqualification, Key Management, MFIs, Section 58 Act 930
Level: Level 4

Topic: Microfinance Institutions Regulation and Supervision
Series: OCT 2022

MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

Question

(20 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Directors, Disqualification, Key Management, MFIs, Section 58 Act 930
Level: Level 4

Topic: Microfinance Institutions Regulation and Supervision
Series: OCT 2022

CR – May 2016 – L3 – Q7a – Related Party Disclosures (IAS 24)

Discuss the appropriate disclosure of related party transactions and director remuneration under IAS 24 for IBRO Plc.

Question

a) IBRO Plc provided the remuneration of its management board made up of executive and non-executive directors (including 2 foreign nationals) as follows:

Annual basic salary
Bonus scheme (Annual compensation)

Answer

Find Related Questions by Tags, levels, etc.

Tags: IAS 24, Key Management, Related Party Disclosures, Related Party Transactions, Remuneration
Level: Level 3

Topic: Related Party Disclosures (IAS 24)

Question Tag: Key Management

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MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

CR – May 2016 – L3 – Q7a – Related Party Disclosures (IAS 24)

Discuss the appropriate disclosure of related party transactions and director remuneration under IAS 24 for IBRO Plc.

MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

CR – May 2016 – L3 – Q7a – Related Party Disclosures (IAS 24)

Discuss the appropriate disclosure of related party transactions and director remuneration under IAS 24 for IBRO Plc.

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MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

You're reporting an error for "MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs"

MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

You're reporting an error for "MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs"

CR – May 2016 – L3 – Q7a – Related Party Disclosures (IAS 24)

Discuss the appropriate disclosure of related party transactions and director remuneration under IAS 24 for IBRO Plc.

You're reporting an error for "CR – May 2016 – L3 – Q7a – Related Party Disclosures (IAS 24)"

MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

You're reporting an error for "MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs"

MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs

Discuss four compelling justifications for disqualification of persons as Directors or Key Management in MFIs under Section 58 of Act 930.

You're reporting an error for "MRB – OCT 2022 – L4 – Q6 – Justifications for Disqualification of Directors in MFIs"

CR – May 2016 – L3 – Q7a – Related Party Disclosures (IAS 24)

Discuss the appropriate disclosure of related party transactions and director remuneration under IAS 24 for IBRO Plc.

You're reporting an error for "CR – May 2016 – L3 – Q7a – Related Party Disclosures (IAS 24)"

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