MGT393H5 Chapter 27: Chapter 27 (Corporate Governance - External Responsibilities) - MGT393 (2019)
Document Summary
Liability; protection of creditors, employees, consumers, competitors, investors, and the. Public interest; civil liability; criminal liability; environmental offences. Stakeholders are groups affected by the business activities of a corporation. These stakeholders include the corporation"s creditors, employees, consumers, competitors, potential public investors, and the public at large. The circle of liability includes outside experts working on behalf of the corporation, such as accountants, underwriters, and lawyers. These offences are most often (but not always) found in the. Criminal code: regulatory offences are less serious offences created by government regulation through specialized legislation, agencies, and tribunals. The prosecution must establish that the accused had mens rea (a guilty mind) that is, a guilty intention or guilty knowledge. For regulatory offences, we find that the courts and statutes tend to reduce the need for mens rea. It may be enough to show that if any ordinary person would or should have realized that his conduct was an offence, the wrongdoer will be convicted.
