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International Certified Corporate Governance Officer Questions 16–20 (page: 5)

Updated On: 10-Feb-2026

The specializations and responsibilities of the audit committee can be summarized in:

  1. Financial reports, internal audit, external audit, and compliance.
  2. Internal audit and external audit.
  3. Submitting to the board issues that the committee deems necessary to take action on, supported by its recommendations and the procedures that the board must take.

Answer(s): A



Among the responsibilities of the board of directors is to ensure the application of:

  1. Control systems that cover all activities.
  2. Appropriate control systems for measuring and managing risks.
  3. Traditional internal control systems.

Answer(s): B



The legal quorum for holding the ordinary general assembly is:

  1. Second meeting: The meeting is valid regardless of the number of subscribers present.
  2. Second meeting: at least a quarter of the company's capital.
  3. Second meeting: at least half of the company's capital.

Answer(s): A



One of the most important schools that worked on developing governance principles around the world, and is considered one of the banking regulatory bodies, is:

  1. Basel Committee
  2. OECD Organization for Economic Cooperation and Development for Governance
  3. Cadbury Rules Committee

Answer(s): A



The commitment to disclose "material developments" to the Capital Market Authority, relevant parties, and the public without any delay includes, for example:

  1. Any losses equal to or exceeding 5% of the company's net assets.
  2. Any losses equal to or exceeding 10% of the company's net assets.
  3. Any losses less than 10% of the company's net assets.

Answer(s): B



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