What is the board of discussion, and what its responsibility, business and finance homework help

Your company
produce an assortment of school supplies, and has a policy of supporting child
health. One day you happen to notice information that (although it is not your
area of expertise) in our opinion, indicates that the product produced by your
company may be harmful to pre-teens. Furthermore, being the CFO, you have to
first hand knowledge that the cost presented by the production department are understated
by 18%. You recall that the last “trouble-maker” received a call from the Chairman
of the Board, and had a hasty departure from the company.

In Short Essay Form, answer the
following questions :

1) What is
the board of discussion, and what its responsibility? (3)

2) Who is
responsible for the financial affairs of the company? (2)

3) Should
you act on information that in your opinion “indicates” something may be wrong?
Why, or why not? (2)

4) What
item(s) are required to address, and why? (3)

5) What
other issue(s) may be present here? (2)