Accounting technicians scheme west africa

52
Summary
The section explained the nature of corporate social responsibility and its areas. A good debate whether organisations should or should not embark on separate social responsibility was well articulated. Ethics was explained with particular reference to business ethics. Three areas of managerial ethics were well discussed. Discussion on ethical concerns of managers as they relate to different publics were given some attention. Ethical practices peculiar to accounting profession were highlighted. Corporate governance, its meaning and the need for it were given good attention.
Review Questions
Multiple Choice Questions
1. Corporate governance scope includes the following EXCEPT a) The role and responsibility of the board of directors b) The composition and balance of the board of directors c) Financial reporting, narrative reporting and auditing d) Directors remuneration e) Recruitment, selection and placement
2. Sets of generally accepted standards of social conduct is known as a) Ethics b)
Equi-finality c) Guidelines d) Uncertainty e) Mutuality of meaning
3. Which of these should NOT be paid attention to by managers with respect to corporate social responsibilities as it relates to minorities and backward communities a) Equal employment opportunity b) Use of expertise to solve local problems c) Locality plants and offices in minority areas
4. Which of these is NOT an area of concern to managers as regards corporate social responsibility a) Government relations b) Consumption c) Family relations d) Shareholders relations e) Labour relations
5. Which of these is NOT why managers behave unethically a) Personal ethics b) Organisation culture c) Labour unions d) Leadership

53 e) Decision making process
Short Answer Questions
1. The set of obligations an organisation has to protect and provide for the society in which it functions is called ......
2. The general guidelines with respect to the values and ethical standards that can be used by managers to guide their decisions is known as .....
3.
..... is defined as the system by which the affairs of corporate entities are directed and controlled by those charged with the responsibility.
4.
..... is an individual’s personal belief about whether a behaviour action or decision is right or wrong.
5.
.... refers to the values and norms shared among employees of an organisation.

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