1. What is the role of the accountants in Corporate Governance?

Accountants plays an important role in corporate governance at every level,

from advising decisions and evaluating investment scenarios to designing internal

controls, monitoring efficiency, reporting, and providing assurance. Corporate

governance has become the determining factor in a company's ability to retain a

good financial position in its market. Accounting is a key enabler of good corporate

governance and is widely regarded as a useful tool for enhancing corporate

governance in businesses.

2. Explain weather the following statement is true or false.

“Responsiveness usually results to effectiveness and efficiency”

I believe that the statement above is true because when a company

immediately responds to its customer’s unpredictable demands, this will results to

effectiveness in running their system and improving the productivity. If they are

responsive, they will be able to gain the trust and loyalty of the customers.

According to Velzen, “As responsive as required, as efficient as possible” is a diverse

approach to outperform the competition. The key is finding the right lever, the place

where the biggest steps can be made by keeping an open mind one can prevent sub-

optimization and find the overall best solution. Its not just efficiency that counts

when running a global corporation-its also responsiveness.