Oversight – Knowsia

SCS – L3 – Q32 – Strategy implementation

Explain five common weaknesses of Boards of Directors at Zamu Enterprises.

Question

(a) Boards of Directors are expected to manage companies effectively. However, corporate boards sometimes fail to do so. Recent corporate scandals have highlighted key weaknesses of Board of Directors.

Required:

Explain FIVE common weaknesses of Board of Directors.

(b) Zamu Enterprises began as a small company which operated in the financial services sector of Zamora’s economy. Within the last ten years, the Board, which is chaired by the founder, Ms. Amina Zuri, has incrementally expanded into three more sectors of the economy, namely: telecommunications, logistics and real estate. Currently a conglomerate, Zamu Enterprises has four different companies in its portfolio and has its corporate head office located within the capital city, Zambara.
Required:
Explain the different levels of corporate strategy as it relates to Zamu Enterprises.

(c) Technology is one of the most powerful forces within the external business environment that has changed significantly how business is conducted especially within the 21st Century. For instance, information technology (IT), well exploited, can have significant impact on all the five forces of competition.

Required:

Identify FOUR effects of technological change on organization.

Answer

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Tags: Board Weaknesses, Corporate Governance, Oversight, Risk Management, Strategic management, Zamora
Level: Level 3

Topic: Strategy implementation

PSAF – L2 – Q15.3 – Public Expenditure and Financial Accountability Framework

Discuss five functions of the Internal Audit Agency in public financial management.

Question

(a) A missing link in public financial management is the lack or weak internal audit function in covered entities. In 2003, the Internal Audit Agency was established to provide oversight on internal audit in the public sector.

(b) Suggest five practical strategies that the Internal Audit Agency can use in promoting effective internal audit in the public sector.

Answer

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Tags: Accountability, Governance, Internal Audit, Oversight, Public Financial Management
Level: Level 2

Topic: Public expenditure and financial accountability framework

FM – L2 – Q129 – Public Procurement Oversight

Discuss the role, functions, and funding of the National Procurement Agency in Zamunda's public procurement system.

Question

129 PUBLIC PROCUREMENT AGENCY

National Procurement Agency provides an oversight of procurement throughout the entire public sector.

(a) Explain the objective of establishing the National Procurement Agency in the Public Procurement system.

(b) Explain FIVE functions of the National Procurement Agency.

Answer

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Tags: Accountability, Funding, Oversight, Procurement Authority, Public Procurement, Transparency
Level: Level 2

Topic: Treasury Management

AAA – L3 – Q16 – Public sector audit

Detail the functions of the Internal Audit Agency as per the Internal Audit Agency Act (2003) for the Municipal Chief Executive.

Question

Dr. Kwame Asante has been appointed the Municipal Chief Executive (MCE) of Asantekrom Municipal Assembly. He has assumed duty early last month and has carried out a familiarisation tour of all the departments of the Assembly.
You are the Internal Auditor of the Assembly and have worked there for the past two years. During your turn of briefing the MCE, you mentioned to him that the Internal Audit Agency (IAA) exists as an apex oversight body of internal audit units working within MDAs and MMDAs. It was established by the Internal Audit Agency Act (2003) with the object to co-ordinate, facilitate and provide quality assurance for internal audit activities within the MDAs and MMDAs.
At the end of your briefing, the MCE requested for more information on the IAA, especially its functions. You were pleased with the MCE and formally welcomed him to the Assembly.
Required:
Communicate to the MCE in the appropriate form detailing out the functions of the Internal Audit Agency according to the Internal Audit Agency Act (2003).

Answer

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Tags: Audit Regulation, Functions, Ghana, Internal Audit, Internal Audit Agency, Oversight, Public Sector
Level: Level 3

Topic: Public sector audit

Tag (SQ): Oversight

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SCS – L3 – Q32 – Strategy implementation

Explain five common weaknesses of Boards of Directors at Zamu Enterprises.

PSAF – L2 – Q15.3 – Public Expenditure and Financial Accountability Framework

Discuss five functions of the Internal Audit Agency in public financial management.

FM – L2 – Q129 – Public Procurement Oversight

Discuss the role, functions, and funding of the National Procurement Agency in Zamunda's public procurement system.

AAA – L3 – Q16 – Public sector audit

Detail the functions of the Internal Audit Agency as per the Internal Audit Agency Act (2003) for the Municipal Chief Executive.

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Tag (SQ): Oversight

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SCS – L3 – Q32 – Strategy implementation

Explain five common weaknesses of Boards of Directors at Zamu Enterprises.

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PSAF – L2 – Q15.3 – Public Expenditure and Financial Accountability Framework

Discuss five functions of the Internal Audit Agency in public financial management.

You're reporting an error for "PSAF – L2 – Q15.3 – Public Expenditure and Financial Accountability Framework"

FM – L2 – Q129 – Public Procurement Oversight

Discuss the role, functions, and funding of the National Procurement Agency in Zamunda's public procurement system.

You're reporting an error for "FM – L2 – Q129 – Public Procurement Oversight"

AAA – L3 – Q16 – Public sector audit

Detail the functions of the Internal Audit Agency as per the Internal Audit Agency Act (2003) for the Municipal Chief Executive.

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