Module 900:  Corporate Control, Law, and Governance

 

900.1       Corporate Control Strategies

900.1.1    Relate control strategy to business strategy
900.1.2    Discuss the levers of control to implement business strategy
900.1.3    Compare and contrast management control, operational control, and internal control

900.2       Internal Control Framework
900.2.1    Define internal control
900.2.2    Describe the components of internal control
900.2.3    Describe good internal control procedures along with its limits, costs, and benefits

900.3       Corporate Audits
900.3.1    Define audits
900.3.2    Differentiate between external auditors and internal auditors
900.3.3    Discuss different types of audits, including the value of audits
900.3.4    Describe the responsibilities of management, auditors, and audit committees in financial reporting as identified by the U.S. Securities and Exchange Commission (SEC)

 

900.4       Corporate Fraud
900.4.1    Define fraud and describe the different types of fraud in business
900.4.2    Describe an internal control system to exact accountability for fraud

 

900.5       Corporate Risk Management
900.5.1    Explain the role and function of risk management in a firm
900.5.2    List and discuss the steps in the risk management process
900.5.3    Define alternative risk transfer market system
900.5.4    Differentiate between enterprise risk management and financial risk management
900.5.5    Discuss catastrophe risk transfer method
900.5.6    Discuss deductibles and insurance policy limits
900.5.7    Discuss the major issues in international risk management

 

900.6       Corporate Law
900.6.1    Understand the U.S. legal system, including the types of law
900.6.2    Understand the U.S. judicial system, including the court system
900.6.3    Understand the U.S. contract law
900.6.4    Understand the U.S. tort law
900.6.5    Understand the U.S. property law
900.6.6    Understand the U.S. agency law
900.6.7    Understand the U.S. commercial law
900.6.8    Understand the U.S. bankruptcy law
900.6.9    Describe the functions of shareholders, directors, and officers of a corporation along with director's and officer's duty of loyalty and duty of care

 

900.7       Corporate Culture
900.7.1    Define organizational culture
900.7.2    Discuss the functions that culture performs, and assess whether culture can be a liability for an organization
900.7.3    Learn how to create, reinforce, and sustain culture
900.7.4    Discuss how culture is transmitted to employees
900.7.5    Learn how to create an ethical and customer-responsive culture

 

900.8       Corporate Ethics, Stakeholders, and Social Responsibility
900.8.1    Discuss ethics in the workplace
900.8.2    Discuss ethics, biases, and strategic decision making
900.8.3    Discuss about stakeholders, analysis, and planning
900.8.4    Discuss social responsibility expected of corporations

 

900.9       Corporate Governance
900.9.1    Define corporate governance with its basic principles and practices
900.9.2    Explain how corporate governance relates to competitive advantage
900.9.3    Identify the roles of owners and discuss the different types of ownership profiles
900.9.4    Show how boards of directors are structured and explain their roles
900.9.5    Analyze the issues of executive compensation and incentive systems
900.9.6    Illustrate how the market for control is related to corporate governance
900.9.7    Compare and contrast corporate governance practices around the world

 

900.10      Corporate Compliance
900.10.1   Discuss the need for compliance with various laws, rules, and regulations
900.10.2   Discuss the pros and cons of compliance
900.10.3   Discuss the various sections of the U.S. Sarbanes-Oxley Act of 2002