Ethics, audit and governance

This topic covers corporate governance, the duties of directors and a chief executive officer, and what an auditor’s report means for directors and shareholders. The 6 questions here are worth 19 marks in the November 2024 Paper 1 set. Of the 19 marks, 8 are for recalling facts and terms, 7 for explaining and 4 for the correct final answer. Answers are short written points, so each one needs a reason.

The 2024 Diagnostic Report says candidates gave one-word answers such as "good skills" for what makes a good CEO, with no explanation of how it helps the company. A qualified audit report was taken to be a clean one. In a question on the report’s meaning, candidates described the roles of the directors and shareholders instead of saying what the report they had chosen means for each group. Make each point, then say why it matters to the company.

Where marks are lost: in our words, from Department of Basic Education, NSC 2024 Diagnostic Report, Part 1 (Book 1).