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Homework answers / question archive / As a result of accounting scandals, several methods have been developed to deal with the issues of corporate governance
As a result of accounting scandals, several methods have been developed to deal with the issues of corporate governance. They are all of the following except:
A) The Board must select only SEC approved consultants.
B) Chairman of the Board position should be split from the CEO position.
C) Board of Directors should have a majority of independent directors.
D) The Board of Directors must explain its approach for adopting a code of ethics for the CEO and senior financial officers.
The answer is A) The Board must select only SEC approved consultants. This is not a commonly adopted practice to improve corporate governance. Moreover, there is no such things as an "SEC approved consultant." Answer choices B-D are reflective of actions that are thought to improve corporate governance.
