1.

Why is there a need for a corporation to maintain a comprehensive and cost-efficient

communication channels to shareholders and other investors?
It's as simple as that to communicate. To distribute essential information to
shareholders and other investors, it is necessary for a company to sustain a
comprehensive and cost-effective communication channel. With those channels in place,
it is simpler for the firm to communicate with its shareholders and investors about its
activities and decisions.

2. What is the objective of the company in having a strong and effective internal control
system?
 To minimize risk and protect assets;
 To ensure accuracy of records;
 To promote operational efficiency; and
 To encourage adherence to policies, rules, regulations, and laws.

3. What is the purpose of having an independent internal audit function on a publicly listed
corporation?
To offer independent assurance to the Audit Committee and Management that the
organization's risk management systems and control structure are in good working order,
and that specified policies and procedures are in place. It should also provide objective
assurance and advising services aimed at adding value and improving the operations of
the company. Internal auditing may help a company achieve its goals by offering a
structured, regulated framework for evaluating and improving the performance of
governance, risk management, and control procedures.