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Introduction to corporate governance

Unit: Introduction to Law and Governance

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Practice CPA Introduction to Law and Governance Introduction to corporate governance questions with detailed answers and explanations.

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April 2026

 1 Questions
Question 1
​​(a) In relation to the law of contract, explain the following terms: 
 
(i) Invitation to treat. 
 
(ii) Counter-offer. 
 
(b) With reference to the sources of law in Kenya, summarise FOUR advantages of written law over customary law.    
 
(c)  Outline FOUR roles of the government in relation to corporate governance in your country.
 
(d) Analyse FOUR essential features of arbitration as an alternative dispute resolution (ADR) mechanism.  


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December 2025

 2 Questions
Question 4
​​(a) Highlight FOUR objectives of legal audit to an organisation. 

(b) Outline SIX characteristics of a partnership.

(c) Assess FIVE effects of unethical behaviour to a business.


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Question 2
​​(a) Explain the following principles as used in insurance law: 
 
(i) Subrogation.  
(ii) Reinsurance. 
(iii) Uberrimae fidei.
 
(b) In relation to corporate governance, describe FOUR roles of board of directors in an organisation. 
 
(c) The Constitution provides that an alien may apply to be a citizen and he/she may be granted a certificate of naturalisation if they fulfill certain conditions.  
 
Highlight FOUR conditions that the alien should fulfill.  
 
(d) In the context of Sale of Goods Act in your country, identify SIX circumstances when the buyer may lose the right to reject the goods.  


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April 2025

 2 Questions
Question 7a
​​The best practice in corporate governance requires that certain decisions be reserved for the shareholder’s approval in an organisation. Identify FOUR examples of these decisions.


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Question 7b
​​Evaluate FOUR ways in which corporate governance could contribute towards expansion of businesses in your country.


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December 2024

 3 Questions
Question 2b
​​​Explain SIX advantages of separation of ownership and control in corporate governance.


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Question 6c
​​Explain FIVE disclosure obligations in corporate governance.


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Question 7a
​​State FOUR risks that could be faced by an organisation from neglecting Corporate Social Responsibility


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August 2024

 3 Questions
Question 6a
​​In governance context, examine TWO differences between “accountability” and “responsibility”.


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Question 6c
​​State EIGHT principles of good governance.


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Question 7c
​​Discuss FIVE measures which an organisation could put in place to prevent fraud in order to enhance corporate governance.


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April 2024

 3 Questions
Question 7b
​​With reference to corporate governance in your country, discuss SIX duties of directors.


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Question 6c
​​Explain FIVE roles of technology and digitalisation in enhancing corporate governance practices in organisations.


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Question 6a
​​In relation to corporate governance, explain FIVE rights of shareholders.


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December 2023

 4 Questions
Question 6c
​​With reference to corporate governance, examine FIVE roles of the Board of Directors of an organisation.


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Question 7a
​​Identify FIVE consequences of poor corporate governance practices to a business organisation


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Question 7b
​​Explain FIVE roles of regulatory bodies such as the Capital Markets Authority (CMA) in promoting corporate governance.


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Question 7c
​​Justify the need for organisations to develop and be guided by corporate governance frameworks


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August 2023

 3 Questions
Question 6a
​​Highlight FIVE pillars of corporate governance.


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Question 7a
​​Distinguish between "corporate governance" and "ethics" .


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Question 7c
​​State NINE corporate governance practices that could enhance the performance of an organisation


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April 2023

 1 Questions
Question 6a
​​With respect to corporate governance:

(i) Distinguish between “agency theory” and “stewardship theory”.

(ii) Identify SIX causes of agency problem in organisations.


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December 2022

 2 Questions
Question 5a
​​(i) Define the term “corporate governance”.

(ii) Outline SIX principles of corporate governance.


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Question 1b
​​(i) Explain FOUR benefits of carrying out a legal audit in a corporation.

(ii) Describe TWO rules of statutory interpretation.


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April 2022

 1 Questions
Question 5a
​​(i) Outline two types of on-site legal audit processes that might be used during data collection.

(ii) Highlight two disadvantages of a legal audit.

(iii) Outline four attributes required of a legal auditor


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Pilot December 2021

 1 Questions
Question 3a
​​Discuss five provisions of the Constitution that anchor compliance obligations in publicly listed companies


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December 2021

 1 Questions
Question 4a
​​In relation to corporate governance:

(i) Define the term "legal audit".

(ii) Discuss four purposes of legal audit.


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