Answer 3 questions.
1. Fully explain the important obligations on companies and their boards of directors that
arise from the UK Corporate Governance Code.
Your answer must include specific references to the relevant provisions of the Code.
2. Corporate risk is often seen as a technical problem.
Explain the extent to which corporate risk and corporate risk management present
ethical problems. Justify your answer with reference to the challenges of risk and
relevant concepts of business ethics.
3. Analyse the relationship between creative accounting and fraud, providing clear and
appropriate examples to support your answer.
Your answer must include a clear explanation of the nature of creative accounting and
fraud in the UK.
4. Welsh Water World Ltd provides a commercial water sports and leisure destination on
the coast of Wales. The board of directors has decided to implement a corporate
responsibility programme involving engagement with key stakeholder groups. Whilst
not academically minded, the board have discussed and embraced Freeman’s (1984)
definition of a stakeholder and have decided that a key stakeholder will be defined as
one which relies on the company to do, or refrain from doing, something that is
important to the members of the stakeholder group or one which makes an important
contribution to the company’s success.
a) List ten significant, different stakeholder groups in the company on the basis of the
definition agreed by the board of directors.
b) Develop and present an analytical tool for determining which of the stakeholders
identified in your answer to a) above are the key stakeholders. Fully justify the
decisions that you have made in designing this analytical tool.
c) Use the tool developed in b) to identify and rank the key stakeholders in Welsh
Water World Ltd.
d) State the core principles of AA1000 and explain their application to corporate
(Total 100 marks)
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