It helps towards achieving corporate goals by bringing a systematic approach for the evaluation and improvement of risk management, control governance and compliance processes (Bunget et al., 2009). It discharges its responsibility by assuring the board and management of the adequacy, effectiveness and reliability of the internal control systems which allow the organization to manage risk more effectively (KPMG, 2004). By reviewing and evaluating the effectiveness of corporate controls, internal audit per se, serves as a crucial managerial control device, that is directly linked to the organizational structure and the common rules of the organization. Internal auditors, hence, form integral parts of an efficient corporate governance framework whereby their expertise in control contributes principally to the integrity and reliability of financial reports (Cai, 1997). It ensures integrity and accountability of management through regular review and evaluation of the organization’s code of conduct and their commitment to ethics (Drogalas et al., 2010).
Similar issues have been reported around other Coca Cola bottling plants such as the one at Varanasi where groundwater fell by 26 feet in five years. Such has been the severity of these protest that Coca Cola had to shutdown its Kerala plant in 2002 and Varanasi plant in 2014. Another argument against Coca Cola has been the comparsion of its advertising budget and water conservation efforts.In 2014, critics argued that its investment in water conservation was just 20 million which was 1% of its 2.4 billion advertising budget. (Faheem,
Other than endangering mothers and babies Nestlé has been facing a lawsuit worth $98.6 million (Tajalli, 2016). Lead concentration over the permissible limit and MSG in Nestlé’s instant noodles under the brand Maggi are putting Maggi’s consumers at very high health risks. “Nestlé in India has been fighting these claims “In recent months, we had over 2,700 samples of Maggi noodles tested by several accredited laboratories both in India and abroad. Each one of these tests have shown the lead component to be far below the permissible limits”” (Nestle.com, 2017).. Tests in India were conducted in order for activists to verify their information on the high levels of lead that is present in their noodles. “The Gorakhpur lab tested for monosodium glutamate (MSG) to check Nestle’s claim that Maggi had none.
Definition of Corporate Governance The corporate governance is the set of rules, principles and procedures governing the structure and functioning of the governing bodies of a company. In particular, establishes the relationships between the board , the board of directors , shareholders and other stakeholders, and stipulates the rules by which the decision - making process on the company for value creation is governed. In recent years, specifically following the onset of the financial crisis, the international community has understood the importance of the listed companies are managed properly and transparently. The good corporate governance is the basis for the functioning of markets, as it increases credibility, stability and helps to boost
Good business morals in the administration of the corporate undertakings would essentially include proper money related dealings in their managing which would in this manner help the organization to succeed. The Company secretary is endowed with the ability to watch the undertakings of the organization which would help in the smooth working of the
This noodle company’s food is widely consumed throughout India. In 2014 alone India consumed about 5340 million cups of noodle. All the adverts which portray these noodles and soups as healthy are not healthy at all. For the past few years the mortality rate has been also increasing due to cast consumption of processed food. I felt it was very
Internal governance audit in listed companies Board of Directors of internal audit: internal audit with supervision, evaluation, control and other functions, internal audit is not just supervision, but also to help operators to strengthen control, improve management, improve operational efficiency. The establishment of the board of directors under the leadership of the internal audit system, the establishment of a new audit commission relationship, through the internal audit to achieve re-control of the operator. Direct leadership of the internal audit by the board of directors, giving the audit department saddle power, the entire company 's financial activities, business training to carry out the audit, is conducive to the audit function to play to improve the monitoring effect. In the management of the structure of the company, chairman and general manager of the division, the internal audit by the board of directors is a saddle as the ideal model The board of directors appoints the chief financial
According to SEPA, China experienced water pollution case every two or three days. Factories dump liquid waste into rivers and lakes without being processed first. In 2006, there are 30 billion tons of wastewater discharged into the Yangtze river. This makes the Yangtze river severely polluted and unfit for
Introduction Do you know foodborne diseases become very serious in our country? Over– 20 billion meals in the Malaysia in 2015. They spent the money on food in Malaysia, which is 55% in restaurant and food service industry. 5 in 10 of Malaysian eat in restaurants every day and 2 in 5 of people eat the meals per week in restaurants. Foodborne diseases can cause 10 million illnesses and 2657 people deaths in Malaysia every year and maybe more.
Last November, Kon Tum Province’s environmental crime prevention department found that Fococev was illegally discharging untreated waste into the Poko River. Complaints had been made by the local but the lack of enforcement leads to the pollution of the Poko River. Meanwhile in India, on average, to produce 1kg of cotton consumes 22,500 litres of water, according to research done by the Water Footprint Network which mean these water cannot be used for anything else because it has either evaporated or is too contaminated for reuse. “India’s water problems are well-known in the country and pollution is everywhere. Disagreement lies in the solutions,” says Arjen Hoekstra, professor in water management at the University of Twente in the Netherlands.The India government, hopes to use engineering to increase the amount of water, said Hoekstra which make it possible to grow cotton