All hail the independent non-executive director

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. What is the aim of the new guidelines from the Hong Kong currency board?

  2. Why are the new guidelines good news for accountants?

  3. What led to the Hong Kong Monetary Authority drafting new rules?

  4. What is expected of independent non executive directors under the new guidelines?

  5. What needs to be done to ensure a healthy pipeline of qualified INEDs?

  6. Why has HKMA taken this formal step of updating governance for banks?

  7. From 14 December how many INEDs must authorised institutions have on their boards?

  8. When might individual independence be questioned for the role of INED?

  9. What should each AI board have as standard that is distinct from any other committee?

  10. While INEDs have a duty to ensure banks are successful they also play a role in protecting the interests of -