Reference no: EM13335581

Question 1:

Obtain corporate governance statements and codes of conduct of two publicly listed companies and answer the following questions:

1. State differences and similarities between corporate governance statements and codes of conduct of the two companies.

2. Explain the relationship between code of conduct and corporate governance.

3. Research and report on current issues and trends in corporate governance reporting.

Question 2

1. What is the role of audit committees in the application and monitoring of corporate governance requirements?

2. How can you achieve best practice with regard to its principle 1, Lay solid foundations for management and oversight, according to ASX CGC Principles of Good Corporate Governance and Best Practice recommendations?

3. In reference to the previously distributed article which is also attached to this assessment paper of "The demise of HIH: Corporate Governance Lessons", by Phillip Lipton.

a) What do you understand about the independence of auditors?

Have auditors lost their independence? Why does auditors' independence matter and what measures would you recommend to maintain auditors' independence?

b) Did HIH have sound corporate governance policies in place at the time of its demise? Explain the effect, if any, of corporate governance policies on collapse of the business.

c) Identify and explain the principal corporate governance shortcomings that contributed to HIH's demise.

4. Why is it necessary to regulate corporate governance through the auspices of the Australian Stock Exchange (ASX) and Australian Securities and Investment Commission (ASIC)?

5. Explain the relationship between financial and non-financial performance indicators in achieving corporate governance compliance.