Describe what the identified areas of law cover

Reference no: EM133682130

Using CPA Australia case studies, volume 10: "Westpac: washing money in the pacific" Answer these questions:

1. What areas of law are pertinent to this case study? Describe what the identified areas of law cover, and explain how they are relevant to the issues raised in the case study.

2. What is the business structure of the Westpac Banking Group? What does this structure say of the duties that the bank's directors owe to its stakeholders, and how have the directors breached those duties by allowing the conduct that is detailed in the case study.

3. Describe the regulatory responsibility of AUSTRAC in the context of this case. In the findings of the 2018 Royal Commission into the Banking sector, what were some of the criticisms levelled by Commissioner Hayne against the other regulators (APRA and ASIC) who also had a regulatory role in preventing the type of conduct that had occurred in the case study?

4. What business risks were ignored by the Westpac executives, and what good governance and compliance practices could have been implemented to alleviate these risks?

Reference no: EM133682130

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