Rule 203 26) Can a member disclose any confidential client information? a. No will result in termination potentially loss of practicing 27) May a member in public practice disclose the name of a client for whom the member or the members firm performed professional services? a. It is permissible under rule 301 [ET section 301.01] for a member to disclose the name of a client, whether publicly or privately owned, without the client's specific consent unless the disclosure of the client's name constitutes the release of confidential information.
| Correct Answer: | An action brought by a shareholder or shareholders on behalf of the corporation when the board of directors does not file the suit. | | | | |
(5) QUESTION 5 • The process to convert a public company is not provided for in terms of the terms the Companies Act 2008. • The Company must amend its MOI to include the specific criteria which will qualify it as a private company, namely it prohibits it from offering its securities to the public and restricts the transferability of its securities; • The company’s name must be amended as provided for in terms of the Companies Act; • The company has to amend it’s name by altering the suffix of the name to reflect the category of profit company which it will now fall under, namely from “Ltd” to “(Pty) Ltd”; • This is effected by completion and lodging of the appropriate form, namely CoR 9.1 form. (5) TOTAL MARKS
What theory or theories might a court use to hold Wallace liable for insider trading? The equal access theory can be used to hold Wallace liable for insider trading. Definitely, his disclosure of said information to his uncle violates this theory 4. Under the Sarbanes-Oxley Act of 2002, who would be required to certify the accuracy of financial statements filed with the SEC? The chief executive officer and the chief financial officer are required to certify the accuracy of these statements.
For which of the following would a shareholder derivative action be appropriate? a) The shareholder alleges that the corporation has violated the shareholder’s preemptive right. b) The shareholder alleges that the board of directors
RE: Mr. John Doe’s Willful Termination on December 12, 2011 Executive Summary Based on the facts of the case, I believe we are not liable in the discrimination suit brought by Mr. Doe. Constructive Discharge Constructive discharge is defined as “if an employer's discriminatory acts result in working conditions so intolerable that a reasonable person in the employee's position would feel compelled to resign.” (Finnegan, 1986) Courts generally follow one of two “litmus” tests to determine if a person who willfully terminated their employment was constructively discharged and should receive compensation as a result of the termination. In the majority view, “an employee who resigns after being subjected to unlawful discrimination is said to have been constructively discharged if a reasonable person would have found the discriminatory conditions to be intolerable.” (Finnegan, 1986) The minority view is that the complainant “must show not only that conditions were intolerable, but also that the employer created those conditions with the specific intent of forcing them to resign.” (Finnegan, 1986) Mr. Doe is a member if the production staff. The company changed the production staff’s working hours to a rolling 12 hour shift four days a week that could occur on any day of the week. If the company’s intent was to get Mr. Doe or anyone on production staff to resign by changing the production staff’s hours, it is possible that the actions of the company could be considered a constructive discharge.
For which of the following would a shareholder derivative action be appropriate? a) The shareholder alleges that the corporation has violated the shareholder’s preemptive right. b) The shareholder alleges that the board of directors has
Lessons learned: Auditing firms can be held responsible for the misrepresentation of financial information if they don’t practice due care. Auditing firms should asses risky accounts and suspicious transactions to ensure the reliability of the financial statement. Questions 1. Identify legitimate business practices that corporate executives can use for the primary purpose of manipulating or “managing” their company’s reported operating results. Are such practices ethical?
2. Yes, Acertado violated the Standard relating to loyalty to employer when using this model at Smith & Garner, but no misrepresentation and material nonpublic information. 3. Yes, Acertado violated the Standard relating to independence and objective diligence, reasonable basis when he
Elements of wrongful discharge § 904. A discharge is wrongful only if: (1) it was in retaliation for the employee's refusal to violate public policy or for reporting a violation of public policy; (2) the discharge was not for good cause and the employee had completed the employer's probationary period of employment; or (3) the employer violated the express provisions of its own written personnel policy. Remedies § 905. (1) If an employer has committed a wrongful discharge, the employee may be awarded lost wages and fringe benefits for a period not to exceed 4 years from the date of discharge, together with interest thereon. Interim earnings, including amounts the employee could have earned with reasonable diligence, must be deducted from the amount awarded for lost wages.