Chairman ATSWA Harmonization & Implementation Committee

vii Anew syllabus for the ATSWA Examinations has been approved by ABWA Council and the various PAOs. Following the approval of the new syllabus which becomes effective from the September 2022 diet a team was constitutes to undertake a comprehensive review of the Study Text inline with the syllabus under the supervision of an editorial board. The Reviewers and Editorial board members are
REVIEWERS
This Study text was reviewed by
- Professor PO. Oladele Federal University, Oye-Ekiti. Ekiti State
- Dr. C. N. Okolugbo
Ekiti State University, Ado-Ekiti
- Mr. SA Enikanselu
Enikan Consult, Lagos.
EDITORIAL BOARD
The editorial Board Members are
- Chief Mrs. Hilda Ozoh, FCA, Chairman, ATSWA Examinations Committee
- Prof. Ahmed Kumshe, FCA,
ICAN, Registrar/Chief Executive
- Dr. Ijeoma Anaso, FCA,
ICAN, Deputy Registrar, Technical Services
- Mr. Ikhiegbia Braimoh Momoh, FCA
ICAN, Director, Examinations
- Mr. Akeem Ishola Adeniyi
ICAN Principal Manager & HOD,
ATSWA, Examinations Department

viii
CONTENTS SUMMARY

CHAPTER ONE NATURE OF BUSINESS
This chapter is divided into three sections. Section A covers introduction to business meaning of business the need for business resources of business objectives of business classification of business reasons for business failure importance of profit in business requirements for success in modern business general qualities of a good businessman legal forms of business ownership business stakeholders and their expectations from business. Section B covers business environment classification of the organization environment, the general environment the task environment and the internal environment, techniques that organisations adopt to interact effectively with its environment. Section C covers corporate social responsibility, business ethics, and corporate governance, nature of social responsibility, dynamics of social responsibility, reasons for and against corporate social responsibility, business ethics, ethical issues in business and why some managers behave unethically, guidelines for ethical compliance, ethical practices peculiar to accounting profession, possible sanctions for breach of ethical compliance in accounting profession corporate governance, benefits of corporate governance, prerequisite of effective corporate governance in Nigeria, problems of corporate governance in Nigeria, codes of best practices incorporate governance in Nigeria, compliance, effects and sanctions

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