THE MWALIMU NYERERE MEMORIAL ACADEMY

DEPARTMENT OF SOCIAL STUDIES

BACHELOR DEGREE IN HUMAN RESOURCE MANAGEMENT

NATURE OF TASK: INDIVIDUAL ASSIGNMENT

MODULE NAME: CORPORATE GOVERNANCE AND ETHICS

MODULE CODE: SSU 07105

STUDENT NAME: JOHN J. ELIKANA

REGISTRATION NUMBER: MNMA/BD.HRM/5006/20

FACILITATOR NAME:. MR. SHAKURU YUNUS

SUBMISSION DATE: 8th JANUARY 2021

 (a) The chief executive officer (CEO) and non-executive director (NED) have discussed
about a proposal to manipulate the financial statements. Because the financial statements
are required to give a true and fair view and in case of UK listed companies, they should
comply or adhere with accounting standards. Also the proposal intended to adapting/
changing the financial statements because is probably fraudulent. At the best it is
unethical and reprehensive and should not be tolerated by the other directors in the
company.
 The chief executive officer still believes that the proposal to alter the accounts can be
sound good into practice. This raises a number of questions about responsibilities for
financial reporting by a company. The board as a whole is responsible for the financial
statements, and the misleading accounts that would require board approval. The external
auditors should expected to state that the manipulation of the figure is unacceptable, and
draw the matter to the attention of the board with the threat of issuing a qualified report.
There are also raises questions about the role and effectiveness of the audit committee,
which has the responsibility for monitoring accounting policies used by the company.
 The proposal also raises question about the ethics of the company and its leaders. The
CEO and NED are prepared to act in an unethical manner, such as transparency of
financial reporting, honesty and integrity could be mentioned, because unethical business
practices are incompatible with good corporate governance.
 The weakness is all about the nominations committee in appointing this NED (non-
executive director) and a lack of business ethics, taken together, could suggest a high risk
of frauds.

 (b). Whistleblowing policy, this is a legal document that companies or entities must
make publicly available and easily accessible for all employees and other persons
engaged by the company. The aims of this policy is to encourage employees and others
who have serious concerns about any aspects of the councils work to come forward and
voice those concerns.
 The policy statement should be clear, simple, and easily to understood
 The policy statement should explains the procedures after a disclosure is made and any
support which will be given.
 The policy statement, positively encourage anyone who has serious concerns about any
aspects of work to come forward and voice those.
 The internal whistleblowing procedures should be documented and a copy, should be
given to all employees in an Organization.
 It should set out the main aspects of the procedures should of whistleblowing, such as
the conditions in which employee may wish to report their concerns.
 The policy statement should also explain procedures that would be followed to
investigsssate an allegation.
 The policy statement should give an example of the misconduct, that may be reported
through the whistleblowing procedures.
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