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AUE2602 assignment 5 2024
Auditing Corporate Governance In Accounting (University of South Africa)
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Goals Galore Limited (hereafter referred to as “Goals Galore”) is a manufacturer of
football equipment and clothing, which are sold in various retail stores across South
Africa. Goals Galore was incorporated in 2005 and started out as a small owner-
managed business but has since grown into a large competitor in the sport equipment
industry.
Due to the rapid expansion and excellent performance of the company, the board of
directors is considering listing the equity of the company on the Johannesburg
Securities Exchange (JSE). The directors are aware that the company will have to comply
with sound corporate governance as recommended in the King IV Report, because they
plan to list only after February 2022.
Board of directors
The board of directors consists of:
Mr Sebastian Chief executive
Schwein officer (CEO)
M. Leon Messi Non-executive Mr Leon Messi currently holds 12% of the
chairperson shareholding in Goals Galore.
Mr Efese Ambrose Non-executive Mr Efese Ambrose is free from any business or
director other relationship which could be seen to
interfere materially with his capacity to act
independently. He is a qualified lawyer.
Ms Jamie Rodriguez Non-executive Ms Jamie Rodriguez used to be a professional
director advisor to Goals Galore due to her experience in
the designing of footballs. She still receives
remuneration in the form of a royalty fee
contingent on the sales of the Dijarah brand
football by Goals Galore.
Mr Arno Robben Financial Ms Stacy Gerrard is Mr Arno Robben’s right hand.
CA(SA) director (an She is the financial manager of Goals Galore and
executive has been with the company since 2008. She
director) knows the business very well and is currently
Downloaded by Lefa Eliot Mmowa ()
AUE2602 assignment 5 2024
Auditing Corporate Governance In Accounting (University of South Africa)
Scan to open on Studocu
Studocu is not sponsored or endorsed by any college or university
Downloaded by Lefa Eliot Mmowa ()
, lOMoARcPSD|26331633
Downloaded by Lefa Eliot Mmowa ()
, lOMoARcPSD|26331633
Question 1
Incorrect
Mark 0 out of 2
Flag question
Question text
Downloaded by Lefa Eliot Mmowa ()
, lOMoARcPSD|26331633
Goals Galore Limited (hereafter referred to as “Goals Galore”) is a manufacturer of
football equipment and clothing, which are sold in various retail stores across South
Africa. Goals Galore was incorporated in 2005 and started out as a small owner-
managed business but has since grown into a large competitor in the sport equipment
industry.
Due to the rapid expansion and excellent performance of the company, the board of
directors is considering listing the equity of the company on the Johannesburg
Securities Exchange (JSE). The directors are aware that the company will have to comply
with sound corporate governance as recommended in the King IV Report, because they
plan to list only after February 2022.
Board of directors
The board of directors consists of:
Mr Sebastian Chief executive
Schwein officer (CEO)
M. Leon Messi Non-executive Mr Leon Messi currently holds 12% of the
chairperson shareholding in Goals Galore.
Mr Efese Ambrose Non-executive Mr Efese Ambrose is free from any business or
director other relationship which could be seen to
interfere materially with his capacity to act
independently. He is a qualified lawyer.
Ms Jamie Rodriguez Non-executive Ms Jamie Rodriguez used to be a professional
director advisor to Goals Galore due to her experience in
the designing of footballs. She still receives
remuneration in the form of a royalty fee
contingent on the sales of the Dijarah brand
football by Goals Galore.
Mr Arno Robben Financial Ms Stacy Gerrard is Mr Arno Robben’s right hand.
CA(SA) director (an She is the financial manager of Goals Galore and
executive has been with the company since 2008. She
director) knows the business very well and is currently
Downloaded by Lefa Eliot Mmowa ()
