GGBERMIC Module

CORPORATE GOVERNANCE, BUSINESS ETHICS, RISK
MANAGEMENT & INTERNAL CONTROL

A Modular Approach in line with 2019-2020 textbook of Ma. Elenita
Balatbat Cabrera
Michaela C. Serrano, CPA
1
Foreword
This course will let students learn what an enterprise risk management framework entails, such
as in risk assessment, and the key control principles practiced in organizations. It will also
discuss business ethical standards and the key business ethics programs found in organizations.
2
Table of Contents
Page #:
Module 1: INTRODUCTION TO CORPORATE GOVERNANCE 5
Module 2: CORPORATE GOVERNANCE RESPONSIBILITIES & ACCOUNTABILITIES 8
Module 3: SECURITIES AND EXCHANGE COMMISSION CODE OF CORPORATE GOVERNANCE 10
Module 4: INTRODUCTION TO BUSINESS ETHICS 13
Module 5: BUSINESS ETHICS 16
Module 6: COMMON UNETHICAL PRACTICES OF BUSINESS ESTABLISHMENTS 19
Module 7: ETHICAL DILEMMA 23
Module 8: ADVOCACY AGAINST CORRUPTION 25
PRELIMINARY ASSESSMENT – PRELIMINARY EXAMS
Module 9: INITIATIVES TO IMPROVE BUSINESS ETHICS AND REDUCE CORUPTION
3
Module 10: RISK MANAGEMENT
Module 11: PRACTICAL INSIGHTS IN REDUCING AND MANAGING BUSINESS RISK
Module 12: OVERVIEW OF INTERNAL CONTROL
Module 13: FRAUD AND ERROR
Module 14: ERRORS & IRREGULARITIES IN THE TRANSACTION CYCLES OF THE

BUSINESS ENTITY
Module 15: INTERNAL CONTROL AFFECTING ASSETS
Module 16: INTERNAL CONTRO; AFFECTING LIABILITIES AND EQUITY
FINAL ASSESSMENT
References
Appendix: COURSE MATERIAL EVALUATION
4
Module 1:
INTRODUCTION TO CORPORATE GOVERNANCE
LEARNING OBJECTIVES
After completing this chapter, one will be able to do the following:
✓ Describe what governance involves
✓ Enumerate the different contexts in which governance can be applied
✓ Name and explain the characteristics of good governance
✓ Explain the meaning, purpose and objectives of corporate governance
✓ Know and describe the principles of effective corporate governance
✓ Understand how the principles of good corporate governance can be applied
5
SALIENT POINTS FOR DISCUSSION
✓ What is Governance?
▪ This refers to a process whereby elements in the society wield power, authority and
influence and enact policies and decisions concerning public life and social
upliftment.
✓ What are the Characteristics of Good Governance?

▪ Participation
▪ Accountability
▪ Rule of Law
▪ Transparency
▪ Effectiveness & Efficiency
▪ Equity & Inclusiveness
▪ Consensus Oriented
▪ Responsiveness
✓ What is Corporate Governance?

▪ This is defined as the system of rules, practices and processes by which business
corporations are directed & controlled.
✓ Why is there a Need of Corporate Governance?

▪ Its purpose is to facilitate effective entrepreneurial and prudent management that
can deliver long-term success of the company.
✓ What are the Objectives of Corporate Governance?

▪ Fair and Equitable Treatment of Shareholders
▪ Increase Shareholders’ Wealth
▪ Self-Assessment
▪ Transparency and Full-disclosure
✓ What are the Basic Principles of Effective Corporate Governance?

▪ Corporate Control
▪ Accountability
▪ Transparency and Full Disclosure
6
QUESTIONS TO PONDER
1. Differentiate the different characteristics of good governance.

2. Describe each objectives of corporate governance.
3. How does corporate governance becomes effective?
REQUIRED READING/s and OTHER LEARNING RESOURCES
Chapter 1, pages 2-12:

Cabrera, Elenita Balatbat., and Cabrera, Gilbert Anthony B.. 2019-2020. CORPORATE
GOVERNANCE, BUSINESS ETHICS, RISK MANAGEMENT & INTERNAL
CONTROL. GIC ENTERPRISES & CO., INC., Manila, Philippines
LEARNING ACTIVITIES / SELF-TESTS
Chapter 1, pp. 12-14:

7
Module 2:
CORPORATE GOVERNANCE RESPONSIBILITIES &
ACCOUNTABILITIES
LEARNING OBJECTIVES
After completing this module, one will be able to do the following:
✓ Explain the relevance of good governance to both large publicly-listed companies and
SMEs
✓ Know the relationship between shareholders or owners and other stakeholder
✓ Identify the parties involved in Corporate Governance
✓ Describe the respective broad rate and specific responsibilities of the different parties in
corporate setting
8
It is important to recognize that good governance that good corporate governance is based on
principles underpinned by consensus and continually developing notions of good practice. There
is no absolute rules which must be adopted by all the organizations. There is no simple universal
formula for good governance. Instead emphasis is many localities, has been encourage
organizations to give appropriate attention to the principles and adopt approaches which are
tailored to the specific needs of an organization at a given point in time.
In this module, the following will be identified:
✓ Relationship between shareholders / owner(s) and other stakeholders
✓ Parties involved in corporate governance including their roles and specific responsibilities
▪ Shareholders
▪ Board of Directors
▪ Non-executive or Independent Directors
▪ Management
▪ Audit Committees of the Board of Directors
▪ Regulators (BOA and SEC)
▪ External Auditors
▪ Internal Auditors
QUESTIONS TO PONDER
1. What is the formula to good governance?
2. Who are the parties involved in corporate governance and what are their roles and
specific responsibilities?


9
Module 3:
SECURITIES AND EXCHANGE COMMISSION CODE OF
CORPORATE GOVERNANCE
LEARNING OBJECTIVES
✓ Understand the need for the Code of Governance for publicly-listed companies.
✓ Know the sixteen governance responsibilities of the Board of Directors of publicly-listef
companies.
✓ Explain the meaning of “comply and explain” approach
✓ Describe the three aspects of the Code namely:
o Principles
o Recommendations
o Explanations
✓ Know what constitutes a competent board and how can it be established
✓ Understand the composition, functions and responsibilities of the board committees that
can be established such as the:
o Audit Committee
o Corporate Governance Committee
o Board Risk Oversight Committee
o Related Party Transaction Committee
✓ Know how the directors can show full commitment to the company
✓ Understand how independence and objectivity of the board can be reinforced and
enhanced
✓ Describe how the performance and effectiveness of the board can be assessed.
✓ Understand how ethical behavior of the board can be strengthened.
✓ Describe how the company disclosure policies and procedures can be enhanced
✓ Understand how the company could increase focus on non-financial and sustainability
reporting
✓ Explain how integrity, transparency and proper governance a company could be ensured
through effective internal control system and enterprise risk management framework.
✓ Describe briefly how synergic relationship with shareholders could be cultivated and
promoted.
✓ Explain how the rights of stakeholders could be respected and how to institute effective
redness for the violation of their rights.
10
On November 10, 2016, the Securities and Exchange Commission approved the Code of Corporate
Governance for publicly-listed companies. Its goals is to help companies develop and sustain an
ethical corporate culture and keep abreast with the recent developments in corporate governance.
One of its salient provisions is for publicly-listed companies to establish a code of business conduct
and submit a new manual on Corporate Governance that would “provide standards for professional
and ethical behavior as well as articulate acceptable and unacceptable conduct and practices”.
The Code of Corporate Governance for Publicly-Listed Companies are as follows:
➢ Introduction
This includes how the code is explained and arrange for comprehension of the
readers. It also includes the following terms defined for purposes of understanding.
▪ Corporate Governance
▪ Board of Directors
▪ Management
▪ Independent Director
▪ Executive Director
▪ Non-executive Director
▪ Conglomerate
▪ Internal Control
▪ Enterprise Risk Management
▪ Related Party
▪ Related Party Transactions
▪ Stakeholders
➢ The Board’s Governance Responsibilities

▪ Principle 1 – Establishing a Competent Board
▪ Principle 2 – Establishing Clear Roles and Responsibilities of the Board
▪ Principle 3 – Establishing Board Committees
▪ Principle 4 – Fostering Commitment
▪ Principle 5 – Reinforcing Board Independence
▪ Principle 6 – Assessing Board Performance
▪ Principle 7 – Strengthening Board Ethics
➢ Disclosure and Transparency

▪ Principle 8 – Disclosure and Transparency
▪ Principle 9 – Strengthening the External Auditors Independence and
Improving Audit Quality
▪ Principle 10 – Increasing Focus on Non-Financial and Sustainability
Reporting
11
▪ Principle 11 – Promoting a Comprehensive and Cost-Efficient Access to
Relevant Information
➢ Internal Control System and Risk Management Framework

▪ Principle 12 – Strengthening the Internal Control System and Risk
Management Framework
➢ Cultivating a Synergic Relationship with Shareholders

▪ Principle 13 – Promoting Shareholders’ Rights Principle
➢ Duties to Stakeholders
▪ Principle 14 – Respecting Rights of Stakeholders and Effective Redress for
Violation of Stakeholders’ Rights
▪ Principle 15 – Encouraging Employees’ Participation
▪ Principle 16 – Encouraging Sustainability and Social Responsibility
QUESTIONS TO PONDER
1. What does each principle states?

2. Which among the principles is the most important?
3. What are the recommendations of each principles?
Chapter 3-4, pp. 27-90:

Chapter 3-4, pp. 74-75, 91-92:

12
Module 4:
INTRODUCTION TO BUSINESS ETHICS
LEARNING OBJECTIVES
✓ Define “Ethics”
✓ Enumerate and describe the basic characteristics and values associated with ethical
behavior
✓ Appreciate why ethical behavior in personal, professional and business dealings is
necessary
✓ Understand the reasons why people act unethically
✓ Give and explain the categories of ethical principles
✓ Give and describe the ethical principles related to:
➢ Personal Ethics
➢ Professional Ethics
➢ Business Ethics
✓ Explain why professional ethics is important and why a code of conduct should be adopted
13
Ethics can be defined broadly as a set of moral principles or values that govern the actions
and decisions of an individual or group.
There are different Characteristics and Values associated with Ethical Behavior and they are
as follows:
➢ Loyalty (Fidelity) and Confidentiality
➢ Fairness and Opennes
➢ Respect for Others
➢ Integrity
➢ Caring for Others
➢ Honesty
➢ Trustworthiness and Promise Keeping
➢ Responsible Citizenship
➢ Accountability
➢ Pursuit of Excellence
Is Ethical Behavior necessary?

For a society to work in an orderly manner, ethical behavior is needed.
Reasons why people act unethically:

➢ Difference in ethical standards from the society
➢ Selfishness
Categories of Ethical Principles:

➢ Principles of Personal Ethics (BRBCCC)
➢ Professional Ethics (CAPPI)
➢ Business Ethics (FSGC)
The Needs for Professional Ethics:

To understand the importance of a Code of Ethics to professionals, one must understand the
nature of a professions opposed to other vacation.
All the recognized professions have several common characteristics. The most important
among these are as follows:
➢ A responsibility to serve the public
➢ A complex body of knowledge
➢ Standards of Admission to the Profession
➢ A need for public confidence
Code of Good Governance for the Profession in the Philippines (E.O. No. 220, June 23,
2020)
The Code is adopted by PRC and 42 Professional Regulatory Boards to cover an environment
of good governance in which all Filipino professionals shall perform their tasks. While each
profession may adopt and enforce each own code of good governance and code which covers
14
the common principles underlying the codes of various professions could be used by all
professionals who face critical ethical questions in work.
➢ General Principle of Professional Conduct

Professionals does not only require ethical commitment but also ethical awareness and
ethical competency.
➢ Specific Principle of Professional Conduct
o Professional Competence
o Service to Others
o Global Competitiveness
o Solidarity and Teamwork
o Integrity and Objectivity
o Social & Civic Responsibility
o Equality of All Professionals
QUESTIONS TO PONDER
1. What is Ethics?
2. Differentiate the Characteristics and Values associated with Ethical Behavior.
3. Is ethics necessary? Why?
4. Why do people act unethically?
5. What are the categories of ethical principles?
6. Why is professional conduct important?
7. Differentiate the specific principle of professional conduct?


Chapter 11, p, 93:
15
Module 5:
BUSINESS ETHICS
LEARNING OBJECTIVES
✓ Explain what business ethics is.

✓ Discuss the purposes of business ethics
✓ Describe the scope and impact of business ethics in the:
o Economy
o Society
o Environment
o Business Managers
✓ Explain the ethical challenges in today’s world
16
Business Ethics refers to standards of moral conduct, behavior and judgement in business. It
involves making the moral and right decisions while engaging in such business activities as
manufacturing and selling a product and providing a service to customers. It is an area of
corporate responsibility where businesses are legally bound and socially obligated to conduct
business in an ethical manner. Business Ethics is based on personal values and standards of
each person engaged in business.
Purposes of Business Ethics

➢ Main Purpose
The main purpose of business ethics is to help business and would-be business to
determine what business practices are right and what are wrong.
➢ Specific Purpose
o To make businessmen realize that they cannot employ double standards to the
actions of other people and their own actions.
o To show businessmen that common practices which they have thought to be
right because they see other businessmen doing it, are really wrong.
o To serve as a standard or ideal upon which business conduct should be based.
Scope and Impact of Business Ethics

➢ Impact on Business Managers
➢ Social Impact
➢ Economic Impact
➢ Environmental Impact
Ethical Challenges in Today’s World
17
QUESTIONS TO PONDER
1. Define business ethics.

2. Differentiate the scope of and impact of business ethics.
3. Examine an example of an ethical challenge in the present time and discuss its impact.
Chapter 6, pp. 103-108:


Chapter 6, p. 108:
18
Module 6:
BUSINESS ETHICS
LEARNING OBJECTIVES
✓ To familiarize yourself of the common unethical practices of business establishments such

as Misrepresentation and Over-persuasion.
✓ Describe how direct misrepresentation is committed by business firm such as:
o Deceptive packaging
o Misbranding or mislabeling
o False and misleading advertising
o Adulteration
o Weight Understatement
o Measurement Understatement
o Quantity Understatement
✓ Describe how indirect misrepresentation is done by business firms such as:
o Caveat Emptor
o Deliberate Withholding of Information
o Passive Deception
✓ Describe how over-persuasion becomes unethical
✓ Describe some unethical corporate practices of the:
o Board of Directors
o Execute Officers and Lower Level Manager
o Employees
19
Unethical Problems in business ethics occur in many forms and types. The most common of
these unethical practices of business establishments are:
• Misrepresentation may be classified into two types: direct misrepresentation and
indirect misrepresentation.
• Direct misrepresentation is characterized by actively misrepresenting about the
product or customers. This includes:
o Deceptive packaging - takes many forms and is of many types.
o Misbranding or Mislabeling - the practice of making false statements on the
label of a product or making its container similar to a well-known product for
the purpose of deceiving the customer as to the quality and/or quantity of the
product being sold.
o False or Misleading Advertising. Advertising serves a useful purpose if it
conveys the right information.
o Adulteration - the unethical practice of debasing a pure or genuine commodity
by imitating or counterfeiting it, by adding something to increase its bulk or
volume, or by substituting an inferior product for a superior one for the purpose
of profit or gain.
o Weight understatement or Short weighing. In short weighing, the mechanism
of the weighing scale is tampered with or something is unobtrusively attached
to it so that the scale registers more than the actual weight.
o Measurement understatement or Short measurement. In short measurement,
the measuring stick or standard is shorter than the real length or smaller in
volume than the standard.
o Quantity understatement or Short numbering. In this unethical practice, the
seller gives the customer less than the number asked for or paid for.
o Indirect Misrepresentation is characterized by omitting adverse or unfavorable
information about the product or service.
o Caveat emptor is a practice very common among salesmen. Translated, caveat
emptor means “let the buyer beware”. Under this concept, the seller is not
obligated to reveal any defect in the product or service he is selling. It is the
responsibility of the customer to determine for himself the defects of the
product.
o Deliberate Withholding of Information. Following the argument that caveat
emptor is unethical, the deliberate withholding of significant information in a
business transaction, is also unethical. No business transaction is fair where
one of the parties does not exactly know what he is giving away or receiving
in return.
o Passive deception. Direct misrepresentation gives business a bad name while
indirect misrepresentation or passive deception is not as obvious, it nonetheless
contributes to the impression that businessmen are liars and are out to make a
fast buck.
o Over-persuasion - Persuasion is the process of appealing to the emotions of a
prospective customer and urging him to buy an item of merchandise he needs.
20
Corporate Ethics
Unethical Practices of Board of Directors
• Plain Graft
• Interlocking Directorship
• Insider Trading
• Negligence of Duty
Unethical Practices of Executives and Lower Management

• Claiming a vacation trip as business trip
• Having employees do work unrelated to the business
• Loose or ineffective controls
• Unfair labor practices
• Making false claims about losses to free themselves from paying compensation
and benefits provided by the law
• Making employees sign documents that were not fully understood to get away
with the law
• Sexual Harassment
Unethical Practices of Employees

• Conflict of Interest
• Dishonesty
QUESTIONS TO PONDER
1. Describe how direct misrepresentation is committed by business firm in:

a. Deceptive packaging
b. Misbranding or mislabeling
c. False and misleading advertising
d. Adulteration
e. Weight Understatement
f. Measurement Understatement
g. Quantity Understatement
2. Describe how indirect misrepresentation is done by business.
a. Caveat Emptor
b. Deliberate Withholding of Information
c. Passive Deception
3. Describe how over-persuasion becomes unethical.
4. Describe some unethical corporate practices of the following:
a. Board of Directors
b. Execute Officers and Lower Level Manager
c. Employees
21
Chapter 7, pp. 109-119:


Chapter 7, p. 119-120:
22
Module 7:
ETHICAL DILEMMA
LEARNING OBJECTIVES
✓ Explain what ethical dilemma is.
✓ Describe the steps in resolving ethical dilemma.
✓ Apply the steps in resolving ethical dilemma.
23
An ethical dilemma is a situation a person faces in which a decision must be made about the
appropriate behavior.
Resolving Ethical Dilemmas:

1. Obtain the relevant facts
2. Identify the ethical issues from the facts
3. Determine who is affected by the outcome of the dilemma and how each person or
group is affected.
4. Identify the alternatives available to the person who must resolve the dilemma.
5. Identify the likely consequences of each alternative
6. Describe appropriate action
QUESTIONS TO PONDER
1. What is ethical dilemma?

2. Site a situation where you can apply resolution to an unethical dilemma and do the
necessary procedures.
Chapter 8, pp. 120-125:


Chapter 6, p. 126-127:
24
Module 8:
ADVOCACY AGAINST CORRUPTION
LEARNING OBJECTIVES
✓ Understand what corruption is.
✓ Know how corruption may look like.
✓ Know why and how does a person become corrupt.
✓ Explain the ill effects of corruption.
✓ Describe the characteristics of corruption.
✓ Learn and familiarize himself/ herself of the impact of corruption in the Philippines as well
as the efforts both of the public and private sectors to curb it.
✓ Know how corruption may be prevented.
25
Corruption is the abuse of private and public office for personal gain. It includes acts of
bribery, embezzlement, nepotism, kickbacks and state capture.
CHARACTERISTICS OF CORRUPTION
1. Recipient and payers - Corruption is the abuse of entrusted power and elected authority
for private profit.
2. Extortion - They do not blame politicians and public officials for willingly accepting
bribes.
3. Lubricant of Society - Many think that paying bribes is required to ensure smoother
operation of society.
4. An Ethical Dilemma - The mere fact that both the payer and the recipient of bribes
want to keep their behavior secret (an often succeed in doing so as well) shows that
such behavior is generally considered to be improper.
5. Poverty Alleviation - The explanation that refers to individual poverty reduction is
especially given by those who have keen eye for corruption among lower operational
staff in government service, notably lower office clerks, police officers, customs
officers, the military, teachers, and admission staff in hospitals, bus ticket collectors,
car-park attendants, garbage collectors, etc., who on an operational level often have
good opportunities to extract extra income or privileges from decisions they might
take of importance to entrepreneurs and citizens.
6. Culture - Gifts are inherent to human relations and therefore present in all cultures.
7. ‘Kindness among friends’ - It is essential, whether you just want to be ‘thoughtful’, or
whether your gift is presented with a certain intention.
The Philippines Corruption Report

✓ Judicial System
o The judiciary is underfunded by the state and often depends on local sponsors
for resources, salaries, resulting in non-transparent and biased court decision.
✓ Police
o The national police force is widely regarded as one of the most corrupt
institutions in the country. Why?
✓ Public Services
o Irregular payment and bribes in the public services sector sometimes occur,
Philippine officials involved in processing documents related to civil and
property registration and building permits are more likely to solicit bribes
compared to officials dealing with other types of services.
✓ Land Administration
o Corruption risk here is high, in fact businesses have insufficient confidence in
the protection of property rights.
✓ Tax Administration
o Around 1 out of 7 companies indicates that they expect to give gifts in meetings
with tax officials to minimize or even evade taxes.
✓ Customs Administration
26
o There is a high risk of encountering corruption when dealing with the customs
administration. Companies indicate that irregular bribes and payments in
import and export procedures are very common.
✓ Public Procurement
o There is a very high risk of corruption in the public procurement sector which
is subject to rampant corruption, irregularities, and inconsistent
implementation of legislation.
✓ Natural Resources
o The transparency in this sector has improved however poor regulation and
overlapping policy responsibilities between local and central governments
have meant small-scale mining is still a contentious issue.
How to Prevent Corruption?

1. Clear business processes
2. Create Policy on Gifts and Entertainment
3. Declare Conflict of Interest
4. Implement a Convenient Corruption Reporting System
Efforts to Curb Corruption through Legislation

➢ Anti-graft and Corrupt Practices Act
➢ Anti-Red Tape Act
➢ Revised Penal Code
➢ Anti-Money Laundering Act
➢ Act Establishing a Code of Conduct and Ethical Standards for Public Officials and
Employees
➢ Government Procurement Reform Act
➢ United Nations Conventions against Corruption
QUESTIONS TO PONDER
1. What is corruption?
2. What are the ill effects of corruption?
3. Describe the characteristics of corruption.
4. What are the impacts of corruption in the Philippines as well as the efforts both of the
public and private sectors to curb it?
5. How is corruption may be prevented?
Chapter 9, pp. 128-144:

27
Chapter 9, p. 145:
28
References
29
Appendix: Course Material Evaluation
Name: _______________________________ Course Title: ____________________________
Adopted: BEST PRACTICES AND SAMPLE QUESTIONS FOR COURSE EVALUATION SURVEYS. Retrieved
from https://assessment.provost.wisc.edu/best-practices-and-sample-questions-for-course-evaluation-
surveys//.
30

GGBERMIC Module

Uploaded by

Document Informationclick to expand document information

Copyright:

Available Formats

GGBERMIC Module

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

GGBERMIC Module

Uploaded by

Copyright:

Available Formats

CORPORATE GOVERNANCE, BUSINESS ETHICS, RISK

MANAGEMENT & INTERNAL CONTROL

Michaela C. Serrano, CPA

Module 1: INTRODUCTION TO CORPORATE GOVERNANCE 5

Module 2: CORPORATE GOVERNANCE RESPONSIBILITIES & ACCOUNTABILITIES 8

Module 3: SECURITIES AND EXCHANGE COMMISSION CODE OF CORPORATE GOVERNANCE 10

Module 4: INTRODUCTION TO BUSINESS ETHICS 13

Module 5: BUSINESS ETHICS 16

Module 6: COMMON UNETHICAL PRACTICES OF BUSINESS ESTABLISHMENTS 19

Module 7: ETHICAL DILEMMA 23

Module 8: ADVOCACY AGAINST CORRUPTION 25

PRELIMINARY ASSESSMENT – PRELIMINARY EXAMS

Module 9: INITIATIVES TO IMPROVE BUSINESS ETHICS AND REDUCE CORUPTION

Module 11: PRACTICAL INSIGHTS IN REDUCING AND MANAGING BUSINESS RISK

Module 12: OVERVIEW OF INTERNAL CONTROL

Module 13: FRAUD AND ERROR

Module 14: ERRORS & IRREGULARITIES IN THE TRANSACTION CYCLES OF THE

Module 15: INTERNAL CONTROL AFFECTING ASSETS

Module 16: INTERNAL CONTRO; AFFECTING LIABILITIES AND EQUITY

Appendix: COURSE MATERIAL EVALUATION

✓ What are the Characteristics of Good Governance?

✓ What is Corporate Governance?

✓ Why is there a Need of Corporate Governance?

✓ What are the Objectives of Corporate Governance?

✓ What are the Basic Principles of Effective Corporate Governance?

1. Differentiate the different characteristics of good governance.

REQUIRED READING/s and OTHER LEARNING RESOURCES

Chapter 1, pages 2-12:

LEARNING ACTIVITIES / SELF-TESTS

Chapter 1, pp. 12-14:

REQUIRED READING/s and OTHER LEARNING RESOURCES

Chapter 2, pp. 16-23:

LEARNING ACTIVITIES / SELF-TESTS

➢ The Board’s Governance Responsibilities

➢ Disclosure and Transparency

➢ Internal Control System and Risk Management Framework

➢ Cultivating a Synergic Relationship with Shareholders

1. What does each principle states?

REQUIRED READING/s and OTHER LEARNING RESOURCES

Chapter 3-4, pp. 27-90:

LEARNING ACTIVITIES / SELF-TESTS

Chapter 3-4, pp. 74-75, 91-92:

Is Ethical Behavior necessary?

Reasons why people act unethically:

Categories of Ethical Principles:

The Needs for Professional Ethics:

➢ General Principle of Professional Conduct

REQUIRED READING/s and OTHER LEARNING RESOURCES

Chapter 5, pp. 93-102:

LEARNING ACTIVITIES / SELF-TESTS

✓ Explain what business ethics is.

Purposes of Business Ethics

Scope and Impact of Business Ethics

Ethical Challenges in Today’s World

1. Define business ethics.

REQUIRED READING/s and OTHER LEARNING RESOURCES

Chapter 6, pp. 103-108:

LEARNING ACTIVITIES / SELF-TESTS

✓ To familiarize yourself of the common unethical practices of business establishments such

Name: ___ Course Title: