Analysis of Annual Report on Corporate Governance Practices

Running head: ADVANCE FINANCIAL ACCOUNTING
Advance financial accounting
Name of the student
Name of the university
Report date
Student ID
Author note

1ADVANCE FINANCIAL ACCOUNTING
Table of Contents
1. Introduction for topic statement................................................................................................2
Answer (a) precise topic of the report..........................................................................................2
2. Analysis of annual report..........................................................................................................2
Answer (a) summary of disclosures.............................................................................................2
Answer (b) Adequacy of disclosures............................................................................................4
3. Strength and weaknesses...........................................................................................................4
Answer (a) Assessment for level of good corporate governance.................................................4
Answer (b) comparison to good corporate governance theory....................................................5
4. Other information......................................................................................................................6
Answer (a) level of good corporate governance...........................................................................6
Answer (b) Comparison to theories of good corporate governance.............................................6
5. Assessment of disclosures.........................................................................................................7
Answer (a) adequate disclosures..................................................................................................7
Answer (b) need of more mandatory corporate governance........................................................7
6. Conclusion.................................................................................................................................7
7. References.................................................................................................................................8

2ADVANCE FINANCIAL ACCOUNTING
1. Introduction for topic statement
Answer (a) precise topic of the report
For the purpose of the report 3 ASX listed banks are selected, namely, National
Australian Bank, Commonwealth bank and Suncorp Bank. NAB is the public company that
generates majority of the income from regional and National commercial banks in the Australian
industry. The company provides the business solutions including the investment, superannuation
and the insurance. Further, the NAB wealth has the network of the financial advisors that
operates under MLC, JBWere, NAB Asset Management, JANA and Plum brands. This company
has been selected for this report as has been ranked at number 8 out of top 2000 entities from
Australia (Nab.com.au 2019). Commonwealth bank has been selected as it is the leading provider
of the integrated financial services. Retail banking sector of the entity provides services related to
home loan, retail products related to deposits and consumer finance. Further, the private and
business banking sector of the company provides the banking services to the relationship
managed businesses and the customers of agribusiness (Commbank.com.au 2019). Suncorp bank
has been selected as it is the 5th largest bank in Australia. The company provides financial
solutions and services and assists the customers in making better and informed choice and taking
positive actions for improving the financial wellbeing. Marketplace of the experiences, services
and products are designed for making it easier for the customers in meeting the financial
requirements. Further t brings together the strong banking portfolio and wealth as well as
insurance solutions for many brands including AAMI, Shannons, GIO, Apia and Suncorp
(Suncorp 2019).
2. Analysis of annual report
Answer (a) summary of disclosures
NAB – corporate governance practice of the entity enables and empowers the operations of the
entity. It provides clarity on scope of the authorities, support compliances and encourages
transparency. As per the company, good governance ensures timely flow of the information to
board for supporting it in fulfilling the responsibilities, accountabilities and roles. However, the