To have more than 50% (majority) independent NEDs would be minimum of 3 but only 2 for a smaller company (both would then need to be independent NEDs).
Hello, thank you so much for the material. I would like to ask whether these videos and the respective notes are valid for the September 2020 exams? Thanks!
Yes – please refer to the post “Changes from June 2020 to September 2020 ACCA exams” which you will find at the top of all the ACCA forums for further details.
So to be balance in voting’s right of the board, We need to have an even number of total members. 50% is executive directors and 50% is non-executive directors and chairman is one of these non-executive directors. is my understanding correct? or we need to exclude the chairman?
Per the Code “At least half the board, excluding the chair, should be NEDs … .”
So yes the chair is excluded but no – balance does not mean 50:50 – balance can be weighted towards NEDs.
The Code is not prescriptive about the chair’s voting because that would depend on the jurisdiction – e.g. in ENG law it is common for the company’s articles to provide that the chair has a casting vote in the event of a tie.
Please go by the content of the notes which have been updated for the new CG Code. There will be a new lecture later in the autumn. If you have any questions about this topic in the meantime – please use the tutor forum.
This page is for comments on corporate governance in AA. Please see the relevant page for PM resources here https://opentuition.com/acca/pm/ – you will also see on that page a link the the Ask the Tutor (PM) forum.
Hi Ken, In liaison external auditors, Audit Committee act as forum link directors/Auditors,Deal with Auditor’s reversation, obtain information for Auditors. Are “Auditors” here external auditors?
Hardly any chapters talk about internal audit. Exterternal audit is very much what this paper is about. Unless IA specifically mentioned, assume we are talking about external audit.
Can you please help me understand who decides the remuneration for non executive directors? Also it would be of great help if you could give me some tips for knowledge based questions as memorising each concept is difficult.
Ssgailm says
Can I use these notes to prepare for my December exams?
Kim Smith says
I have already responded to your post here https://opentuition.com/acca/aa/what-is-assurance-acca-audit-and-assurance-aa/comment-page-4/#comment-73139
Manala1 says
Greetings Sir,
My question is who in particular consists of the Nomination Committee that appoints new directors, and how many members are usually in the committee?
Kim Smith says
To have more than 50% (majority) independent NEDs would be minimum of 3 but only 2 for a smaller company (both would then need to be independent NEDs).
Manala1 says
Well noted and thank you Sir.
Kim Smith says
You are welcome – if you have queries rather than comments please use the ask the tutor forum https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-audit-and-assurance-aa-exams to ensure you get a timely response.
sommerflogge says
Hello, thank you so much for the material. I would like to ask whether these videos and the respective notes are valid for the September 2020 exams? Thanks!
Kim Smith says
Yes – please refer to the post “Changes from June 2020 to September 2020 ACCA exams” which you will find at the top of all the ACCA forums for further details.
sommerflogge says
Many thanks!
thuyngo94 says
Sir,
So to be balance in voting’s right of the board, We need to have an even number of total members. 50% is executive directors and 50% is non-executive directors and chairman is one of these non-executive directors. is my understanding correct? or we need to exclude the chairman?
Kim Smith says
Per the Code “At least half the board, excluding the chair, should be NEDs … .”
So yes the chair is excluded but no – balance does not mean 50:50 – balance can be weighted towards NEDs.
The Code is not prescriptive about the chair’s voting because that would depend on the jurisdiction – e.g. in ENG law it is common for the company’s articles to provide that the chair has a casting vote in the event of a tie.
thuyngo94 says
Thank you Sir for the lecture and the explanation. Its really useful for me.
chandni24 says
are they any changes for march 2020 exam
Kim Smith says
This lecture is consistent with the March-June 2020 notes.
The next syllabus/exam doc change will be not be effective until September 2020.
Elina says
Hello, could you please confirm when Corporate Governance lecture will be updated.
Thank you
sherwin95 says
same
Mano says
I think opentuition HAS been UPDATING their content whenever necessary.
dilini says
Hi the lecture notes seems to have a different content to the lecture slides, please advice witch one is more accurate.
Kim Smith says
Please go by the content of the notes which have been updated for the new CG Code. There will be a new lecture later in the autumn. If you have any questions about this topic in the meantime – please use the tutor forum.
Elina says
Hello, please could you confirm when Corporate Governance lecture will be updated?
Thank you
Kim Smith says
This page is for comments on corporate governance in AA.
Please see the relevant page for PM resources here https://opentuition.com/acca/pm/ – you will also see on that page a link the the Ask the Tutor (PM) forum.
dilini says
Hi the lecture notes seems to have a different content to the lecture slides, please advice witch one is more accurate.
jayeetam says
Hi Sir, Is there any recent lectures for June 2019 PM exam? Thanks a lot.
Regards,
Jayeeta
sunny20 says
Hi Ken,
In liaison external auditors, Audit Committee act as forum link directors/Auditors,Deal with Auditor’s reversation, obtain information for Auditors. Are “Auditors” here external auditors?
Many thanks in advance
Ken Garrett says
Yes.
sunny20 says
Hi Ken,
How do I make clearly that which chapter is talking about external auditor, which chapter is talking abount internal auditor?
Many thanks in advance
Ken Garrett says
Hardly any chapters talk about internal audit. Exterternal audit is very much what this paper is about. Unless IA specifically mentioned, assume we are talking about external audit.
opeyemiogunjimi says
Hi Sir,
Who appoints NON-executive Directors?
Ken Garrett says
Ultimately, shareholders at the AGM.
idnoblity123 says
Hello,
Thank you for the lecture.
i am preparing for June 2018 diet can i still use this lecture notes. Are they sufficient enough or i have to still use other material.
This is my first time taking F8, please do i need any special way to study to be successful at first attempt.
Ken Garrett says
Youbhave to buy a question bank to give lots of practice. With that, many people find our notes and lectures sufficient.
rajvir1801 says
Sir,
Can you please help me understand who decides the remuneration for non executive directors?
Also it would be of great help if you could give me some tips for knowledge based questions as memorising each concept is difficult.
Thank you in advance.
Ken Garrett says
1 Executive directors decide on remuneration of NEDs.
2 Make summary notes and lists. Practice and self-test. No magic solution I fear.
Jan says
Hi I am retaking F8 after failing by 3 marks in March !! are there any changes to the syllabus since then thanks Jan
Ken Garrett says
No changes.
zshan says
Hello sir i want to appear for paper f8 in Dec 2017 exam are these lectures still useful for coming exams
Simone says
are these lectures valid for March 2018?
opentuition_team says
Yes they are
sajjad5150 says
are these lectures valid for december 2017?
Ken Garrett says
Yes.
sunshinerain123 says
Good afternoon,
Are the lectures and notes valid for september 2017 exam?
Ken Garrett says
Yes, they are.
kursley says
Hello, can’t download chapters 2 , 11, 16, 22 and 28. Is there another link for same?
Thanks
bajanstudent says
can i use these videos and lecture notes to prepare for june 2017 exams?
Ken Garrett says
Yes.