What is Corporate Governance

Reference no: EM132708330

Question - The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was established in December 2017. The reports of the commission highlighted several breaches on the part of the financial institutions. The report of the commission chaired by Justice Kenneth Madison Hayne could be found at the commission's website among the resources in the resources section below.

The most important of its terms of reference is to 'examine misconduct across the entire financial services sector' (Australian Government, n.d.). The major banks have conceded their behaviour has not always been in their customers' interests and have taken steps to rectify these problems (Hunt & Terry 2018). Bligh (2017) noted the need to push through industry-wide reforms in the sector.

As a student of Corporate Accounting, it is essential to consider the Corporate Governance lapses in the day-to-day running of corporations as there are consequences for doing otherwise. In this assignment, you will be focusing on the banking sector.

1. What is Corporate Governance? Explain a few theories and advantages of corporate governance.

2a. Identify the various stakeholders in NAB case. Next to each of them, identify the corporate governance responsibilities owed by NAB. It is possible that some corporate governance responsibilities are owed to more than a stakeholder.

2b. Using the 8 principles of the ASX, analyse the Corporate Governance of National Australia Bank which was singled out by Commissioner Hayne. You should clearly highlight the 8 principles and match them with the specific ASX corporate governance principles and recommendations.

3. What were the consequences of these lapses for the big four banks in Australia?

Reference no: EM132708330

Questions Cloud

Discuss attributes of success or lack thereof : Critique an example of a professional organization's use of media to promote a health policy agenda. Discuss attributes of success or lack thereof.

Why would a borrower look for floating rate financing : What kinds of lenders have originated the majority of loans over the last two decades? Why would a borrower look for floating rate financing

What are the policy and future practice implications : Trace the history of cannabis use in medicine for the treatment and management of illness via nursing scholarly journal articles. Examine your sources for the.

Discuss the importance of working capital : Discuss Working Capital and the importance of Working Capital in a company's projections. Use examples of working capital types.

What is Corporate Governance : What is Corporate Governance? Explain a few theories and advantages of corporate governance. Identify the various stakeholders in NAB case

How did the tone at the top contribute to the fraud : Apply the fraud triangle to Toshiba and discuss in detail the ramifications of each component of the fraud triangle from the perspective of a mid-level manager.

Determine the expected amount of dollars to be paid : Determine the expected amount of dollars to be paid by the Wake Forest Co. for the pesos in one year. Do not round intermediate calculations.

Find what should the spot rate of the euro in one year be : Find what should the spot rate of the euro in one year be? Do not round intermediate calculations. Round your answer to three decimal places.

Developing and leading a market entry : Conduct research on either company. Identify, summarize, and defend three characteristics of either company that are consistent with conscious capitalism ideals

User Account

All Pages