Regulatory Compliance – Page 3

CIBGH – POM 2020 – L1 – Q2 – Change Management in Universal Banks

In contemporary times, universal banks must embrace change management to enhance resilience and agility; discuss strategies a named bank can follow for successful change processes and outcomes.

Question

In contemporary times, universal banks must embrace change management to enhance their capacity towards resilience and agility. Discuss strategies that a named bank can follow to bring desired change process and outcomes successfully?

Answer

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Tags: Agility, Banking Strategies, BoG directives, Change Management, Ghanaian banks, Regulatory Compliance, Resilience, universal banks
Level: Level 1

Topic: Change Management, TECHNIQUES AND TOOLS OF MANAGEMENT
Series: JULY 2020

INS – JUL 2020 – L4 – Q4 – Circumstances for Purchasing Reinsurance Cover

Explain the situations in which an insurer might opt to buy reinsurance to mitigate risks and enhance operational capabilities.

Question

In which circumstances would an insurer consider the purchase of reinsurance cover?

Answer

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Tags: Capacity Expansion, Financial Stability, Insurer Protection, Regulatory Compliance, Reinsurance, Risk Management
Level: Level 4

Topic: Principles of risk, Risk Management
Series: JULY 2020

CG – L4 – Q2 – Internal Board Evaluation

Discuss the importance of conducting an Internal Board Evaluation and outline five key elements to include.

Question

Critically examine the importance of a board conducting an Internal Board Evaluation (IBE) and the FIVE key elements that should be included in the evaluation.

(25 marks)

Answer

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Tags: Board Effectiveness, Evaluation Elements, Internal Board Evaluation, Regulatory Compliance
Level: Level 4

Topic: Board/Management Responsibility for Bank Performance
Series: OCT 2022

MRB – APR 2023 – L4 – Q3 – AML/CFT and CDD in Rural Banks

Outline the importance of AML/CFT programs and the CDD process in Rural Community Banks.

Question

Outline the importance of anti-money laundering and combating the financing of terrorism program in RCBs. [10 Marks] b) What does Customer Due Diligence (CDD) process entail in RCBs operations? [10 Marks]

[Total: 20 Marks]

Answer

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Tags: Anti-Money Laundering, Combating Financing of Terrorism, Customer Due Diligence, Regulatory Compliance, Rural Banks
Level: Level 4

Topic: Prudential Supervision of Rural Banks
Series: APR 2023

MP – APR 2023 – L2 – Q4 – Corporate Social Responsibility and Ethical Code in Banking

Explain CSR concept with examples for rural/universal banks' responsibility; discuss ethical codes in Ghanaian banking and measures to improve ethical climate in a named bank.

Question

A. In your own words, explain the concept, Corporate Social Responsibility. Illustrate with examples why management of rural and universal banks should be responsible in the protection of interests of the banking community? [10 Marks]

B. Explain ethical code of conduct in the banking industry in Ghana that require attention and consideration? Discuss five (5) measures to improve ethical climate of a named universal bank in Ghana? [10 Marks]

[Total Marks: 20]

Answer

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Topic: Managing and organizing as part of a cultural
Series: APR 2023

MFS – APR 2024 – L2 – Q5 – Panic Withdrawals and Deposit Mobilization in Ghana Banking Sector

Identify measures to address panic withdrawals and outline previous measures for enhancing deposit mobilization in Ghana's banking sector amid recent challenges.

Question

The challenges that confronted the Banking Sector in recent times have led to what has been termed ‘panic withdrawals’.

a) Identify four (4) measures the banks could use to address the effects of the ‘panic withdrawals.

b) Outline six (6) measures that the banks previously relied on to enhance Deposit Mobilization.

Answer

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Tags: Banking Challenges, Deposit Mobilization, Financial Stability, Ghana Banking Sector, Liquidity risk, Measures, Panic Withdrawals, Regulatory Compliance
Level: Level 2

Topic: Financial Institutions Overview, Supervision & regulation, Their profitable and prudential management
Series: APR 2024

MFS – APR 2024 – L4 – Q6 – Criteria for Selecting Advertising Agency in Banking

As a Marketing Consultant, write a report explaining six criteria to guide the selection of the right Advertising Agency for the bank.

Question

Selection of the right media and sending right messages are the means by which Advertising objectives are achieved. It involves the need for expertise which is normally provided by Advertising Agencies. In your role of a Marketing Consultant of a bank, the Head of Marketing and Corporate Affairs of the Bank has asked you to write a report explaining six (6) criteria that will guide them in the selection of a right Advertising Agency.

Answer

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Tags: Advertising Agency Selection, Banking Marketing, Cost Effectiveness, Creativity, Criteria, Expertise, Ghana Banking Sector, Promotional Mix, Regulatory Compliance, Track Record
Level: Level 4

Topic: Advertising, Developing the promotional mix, The role of the retail outlet in promotional management
Series: APR 2024

MFS – APR 2024 – L4 – Q5 – Benefits of Competitor Analysis in Banking

As Head of Marketing, explain four key benefits a bank derives from understanding competitors' activities to justify resources for competitor analysis.

Question

Key to gaining a sustainable Competitive Advantage over a bank’s competitors is through Competitor Analysis. In your role as the Head of Marketing of your Bank who needs some resources to enable you conduct effective Competitor Analysis, you are to submit a paper to your Chief Executive Officer explaining the four (4) key benefits the bank will derive from understanding the activities of your competitors.

Answer

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POB-LAW-APR-2016-L3-Q7-Guarantees and Handling Prospective Guarantors

Scenario where a customer's overdrawn account requires a guarantee from a friend/business associate who sees it as a formality and owes the principal debtor money; how to handle the situation and meeting actions, and if different if the guarantor is not a company director.

Question

Your Private Banking customer, Reginald Tageo’s account is overdrawn GHS4,000,00 and you have called on him to provide security. He telephoned last Friday and told you he can only provide a guarantee from his friend and a business associate Kofi Darko who is a customer known to you, will visit your branch to meet with you in this regard. Kofi Darko is a Director in the KofDarko Building & Civil Engineering Works Ltd which has an account with your KofOrndua Branch.

This afternoon, Kofi Darko indeed called to seek an appointment to enable him visit your office to discuss the guarantee, and indicated that when Reginald Tageo requested him to sign a guarantee as security for his indebtedness, he had sign a reservations, but has come to learn that it is a formality and he is happy to sign for the sake of their friendship.

He added that he owes Reginald Tageo GHS5,000,000,00 in respect of some subcontracted works he has recently completed.
a) How will you handle this situation and what action will you take during your meeting with him?

b) Would your answer be the same if Kofi Darko had not been a director in a limited liability company?

Answer

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Tags: Banker Duties, Confidentiality, Debt Set-Off, Director Liability, Friendship Guarantees, Guarantees, Independent Advice, Misapprehension, Regulatory Compliance, Securities
Level: Level 3

Topic: Securities Acceptable to Bankers
Series: APRIL 2016

CG – APR 2024 – L4 – Q4 – Greenium in Pricing Policy and Competitiveness

The board of Rosebank lost a potential corporate banking account because its pricing policy did not include "greenium"; critically assess practical steps the board should take to remain competitive.

Question

The Board of Rosebank has been informed that the bank’s Corporate Banking business proposal to have the main business account of a firm that the Chairperson Dr. Mary Daniels serves on its Board, has not been successful. Dr. Mary has just been prompted that the main reason for the unsuccessful attempt was that in the proposal, the bank’s Pricing Policy did not provide for “greenium”. Critically assess the practical steps the Board of Rosebank should take to stay competitive.

(20 marks)

Answer

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Tags: Board Responsibilities, Competitiveness, ESG Integration, Greenium, Pricing Policy, Regulatory Compliance, Sustainable Finance
Level: Level 4

FA – May 2014 – L1 – SA – Q1 – Regulatory Environment of Accounting

Identifies where statutory books and records should be kept according to CAMA.

Question

The Companies and Allied Matters Act, CAP C20 LFN 2004 requires that the statutory books and records of a company be kept at …………………………………

Answer

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Tags: CAMA, Regulatory Compliance, Statutory Records
Level: Level 1

Topic: Regulatory Environment of Accounting
Series: MAY 2014

FA – Nov 2014 – L1 – SA – Q14 – Regulatory Environment of Accounting

Identifying the content of a memorandum of association in a limited liability company.

Question

Which of the following is ONE of the contents of the memorandum of association of a limited liability company?

A. The transfer and transmission of shares
B. The voting rights of members
C. The borrowing powers of the company
D. The object clause of the company
E. The appointment and powers of Managing Director

Answer

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Tags: Corporate Law, Memorandum of Association, Regulatory Compliance
Level: Level 1

Topic: Regulatory Environment of Accounting
Series: NOV 2014

AA – Nov 2021 – L2 – Q4b – Public Sector Auditing

Identifies corporate governance weaknesses in Formation Bank Ltd and provides recommendations for improvement.

Question

Mr. William Kofi Ansah is the Founder, Chief Executive Officer, and Major Shareholder of Formation Bank Ltd. He single-handedly appointed his father-in-law as board chair and three related parties as Non-Executive Directors, in addition to the existing five (5) Executive Directors. Rewards such as first-class tickets and large consulting contracts were granted to Directors, and compensation for the Directors was excessive and not commensurate with the Bank’s performance.

There is no formal credit management policy for the Bank, and regular Board review meetings were not carried out. Large non-performing loans were granted to the related parties, which resulted in the Bank being heavily exposed. The Bank sent false monthly credit reports to the regulator, and the regulator failed to assess the report and provide prompt feedback.

The External Auditors and Regulator were treated to a high-end reception during audits and given large brown envelopes at the end of the audit. The internal audit unit is ill-resourced and reports directly to the Chief Executive Officer.

Required:
Explain FIVE (5) corporate governance weaknesses faced by Formation Bank Ltd in relation to corporate governance principles and for each weakness identified, recommend a solution to overcome it.

Answer

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Tags: Board of Directors, Conflict of Interest, Corporate Governance, Regulatory Compliance, Related parties
Level: Level 2

Series: NOV 2021

CR – Nov 2023 – L3 – Q3b – Regulatory framework and ethics

Evaluate ethical issues arising from a company's proposal to sell non-controlling interest in a loss-making subsidiary and manipulate financial reporting.

Question

b) The Directors of Okonko Ltd are considering acquiring shares in blue-chip companies domiciled in Asia, Europe and North America in the near future in order to diversify their operations and minimise systematic risk. Unfortunately, the entity is currently cash strapped and unable to exploit such opportunities. They would prefer to raise finance from shares on the Ghana Stock Exchange because it is currently highly geared and they do not wish to expose the company to further financial and liquidity risk. They are therefore keen to have a good amount as the balance on the retained earnings in order to remain attractive to prospective investors.

One proposal is that they sell non-controlling interest in one of its domestic subsidiaries (Afa-Alhaji Ltd) which has been recording persistent losses for the past five (5) years. The sale will improve the cash position but Okonko Ltd will continue to maintain control over Afa-Alhaji Ltd. In addition, the Directors are of the strong opinion that the shares can be sold profitably to boost its retained earnings. The Directors intend to transfer the relevant proportion of their share of the losses from the domestic subsidiary to the retained earnings, knowing that this is contrary to accounting standards.

Required:

Explain FIVE (5) ethical issues which may arise from the proposal of the directors of Okonko Ltd. (10 marks)

Answer

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Tags: Business Ethics, Corporate Governance, Financial Reporting, Investor Relations, Regulatory Compliance
Level: Level 3

Topic: Regulatory Framework and Ethics
Series: NOV 2023

AAA – April 2022 – L3 – Q1a – Rules of professional conduct

Evaluate four factors that determine the significance of a breach of the IESBA Code of Ethics.

Question

When a firm concludes that a breach has occurred, the firm shall terminate, suspend or eliminate the interest of the relationship that caused the breach and address the consequences of the breach.

Required: Evaluate FOUR (4) factors that determine the significance of a breach of the IESBA code of ethics. (4 marks)

Answer

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Tags: Audit Practice, Breach of IESBA Code, Ethical Conduct, Professional Responsibility, Regulatory Compliance
Level: Level 3

Topic: Rules of professional conduct
Series: APR 2022

Question Tag: Regulatory Compliance

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CIBGH – POM 2020 – L1 – Q2 – Change Management in Universal Banks

In contemporary times, universal banks must embrace change management to enhance resilience and agility; discuss strategies a named bank can follow for successful change processes and outcomes.

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INS – JUL 2020 – L4 – Q4 – Circumstances for Purchasing Reinsurance Cover

Explain the situations in which an insurer might opt to buy reinsurance to mitigate risks and enhance operational capabilities.

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CG – L4 – Q2 – Internal Board Evaluation

Discuss the importance of conducting an Internal Board Evaluation and outline five key elements to include.

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MRB – APR 2023 – L4 – Q3 – AML/CFT and CDD in Rural Banks

Outline the importance of AML/CFT programs and the CDD process in Rural Community Banks.

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MP – APR 2023 – L2 – Q4 – Corporate Social Responsibility and Ethical Code in Banking

Explain CSR concept with examples for rural/universal banks' responsibility; discuss ethical codes in Ghanaian banking and measures to improve ethical climate in a named bank.

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MFS – APR 2024 – L2 – Q5 – Panic Withdrawals and Deposit Mobilization in Ghana Banking Sector

Identify measures to address panic withdrawals and outline previous measures for enhancing deposit mobilization in Ghana's banking sector amid recent challenges.

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MFS – APR 2024 – L4 – Q6 – Criteria for Selecting Advertising Agency in Banking

As a Marketing Consultant, write a report explaining six criteria to guide the selection of the right Advertising Agency for the bank.

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MFS – APR 2024 – L4 – Q5 – Benefits of Competitor Analysis in Banking

As Head of Marketing, explain four key benefits a bank derives from understanding competitors' activities to justify resources for competitor analysis.

You're reporting an error for "MFS – APR 2024 – L4 – Q5 – Benefits of Competitor Analysis in Banking"

POB-LAW-APR-2016-L3-Q7-Guarantees and Handling Prospective Guarantors

Scenario where a customer's overdrawn account requires a guarantee from a friend/business associate who sees it as a formality and owes the principal debtor money; how to handle the situation and meeting actions, and if different if the guarantor is not a company director.

You're reporting an error for "POB-LAW-APR-2016-L3-Q7-Guarantees and Handling Prospective Guarantors"

CG – APR 2024 – L4 – Q4 – Greenium in Pricing Policy and Competitiveness

The board of Rosebank lost a potential corporate banking account because its pricing policy did not include "greenium"; critically assess practical steps the board should take to remain competitive.

You're reporting an error for "CG – APR 2024 – L4 – Q4 – Greenium in Pricing Policy and Competitiveness"

FA – May 2014 – L1 – SA – Q1 – Regulatory Environment of Accounting

Identifies where statutory books and records should be kept according to CAMA.

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FA – Nov 2014 – L1 – SA – Q14 – Regulatory Environment of Accounting

Identifying the content of a memorandum of association in a limited liability company.

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AA – Nov 2021 – L2 – Q4b – Public Sector Auditing

Identifies corporate governance weaknesses in Formation Bank Ltd and provides recommendations for improvement.

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CR – Nov 2023 – L3 – Q3b – Regulatory framework and ethics

Evaluate ethical issues arising from a company's proposal to sell non-controlling interest in a loss-making subsidiary and manipulate financial reporting.

You're reporting an error for "CR – Nov 2023 – L3 – Q3b – Regulatory framework and ethics"

AAA – April 2022 – L3 – Q1a – Rules of professional conduct

Evaluate four factors that determine the significance of a breach of the IESBA Code of Ethics.

You're reporting an error for "AAA – April 2022 – L3 – Q1a – Rules of professional conduct"

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