LAW 604 Lecture Notes - Lecture 1: Canada Business Corporations Act, Co-Determination, Accounting
24 Feb 2016
School
Department
Course
Professor
Document Summary
Directors have their noses in and fingers out. After 2002 financial meltdown, sarbanes oxley complicated act that has companies signing away that every financial document is ok and audited. For test ** understand differences between the various models. Definitions of corporate governance can encompass operational, stakeholder, societal, economic and relationship perspectives. Typically, the constitution will define the nature of the governing body, its roel, and how its members are elected or chosen. Whether the constitution is formal, as required under law or an informal set of rules, it is a fundamental underpinning of the corporate entity and hence, its governance. 3rd category of corporate entities would be creation for the public benefit, public benefit companies. Such entities have no shareholders, and raise funds through bonds that pay interest, which is a charge against profits, rather than pay dividends which would take a share of profits. Examples of the contents of articles of association are on page 39.
