Accounting Theory and Corporate Governance.

Running head: ACCOUNTING THEORY AND CORPORATE GOVERNANCE
Accounting Theory and Corporate Governance
Name of the Student
Name of the University
Authors Note
Course ID

ACCOUNTING THEORY AND CORPORATE GOVERNANCE1
Table of Contents
Answer to Part A:.......................................................................................................................2
Answer to 1:...............................................................................................................................2
Answer to 2:...............................................................................................................................2
Answer A:..............................................................................................................................2
Answer B:...............................................................................................................................2
Answer C:...............................................................................................................................3
Answer to D:..........................................................................................................................3
Answer E:...............................................................................................................................4
Answer to 3:...............................................................................................................................4
Part B: Role of Corporate Governance in Accounting...............................................................6
References:...............................................................................................................................11

ACCOUNTING THEORY AND CORPORATE GOVERNANCE2
Answer to Part A:
Answer to 1:
Wesfarmers board believe that the corporate governance policies and practices that
are implemented all through the reporting period of 30th June 2019 adheres with the
references given in ASX Principles (Group, 2019). Wesfarmers corporate governance
policies consist of conflict of interest, code of conduct, Whistle blower policy, market
disclosure policy and environmental policy.
While the Woolworths corporate governance is considered central to the company in
creating a sustainable growth and improving the long-term value of shareholders. The
directors and the team members of Woolworths is anticipated to act in an ethical manner and
responsibly all the time. The ambition of Woolworths goes further than the legal compliance
(Woolworthsgroup 2019). The purpose of the company is to construct a healthier experience
together for a better tomorrow with the objective of shaping the company’s commitment for
meeting the requirements of its customers, teams and key stakeholders.
Answer to 2:
Answer A:
Total number of directors for Wesfarmers and Woolworths are as follows;
Total number of directors
Wesfarmers 10
Woolworths 8

ACCOUNTING THEORY AND CORPORATE GOVERNANCE3
Answer B:
No disclosure is made by Wesfarmers and Woolworths regarding the percentage of
non-executive directors in the financial statement and corporate governance report of the
respective companies.
Answer C:
No disclosure is made by Wesfarmers and Woolworths regarding the percentage of
independent directors in the financial statement and corporate governance report of the
respective companies (Francis, Hasan and Wu, 2015).
Answer to D:
The name of chairman of Woolworths is Gordon Cairns while the name of CEO is
Brad Branducci.
Summary of CEO and Chairman statement Woolworths:
CEO:
As per the CEO the company has made a pleasing progress in its transformation by
achieving a strong focus on the customer differentiation and fundamental simplification of
process. The company has completed a number of initiative that would materially reshape the
company’s support towards evolution in food and daily needs of retail ecosystem.
Chairman:
The chairman constantly supports Australia’s commitment under the Paris agreement
and would be reporting in agreement with the rules of task force on financial releases relating
to climate. Till date it has reduced its carbon emission by 18%. As per chairman, in 2019 the
company returned $1.7 billion to the shareholders.