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Accounting Theory and Corporate Governance: A Comparative Study of Wesfarmers Limited and Woolworth Limited

Obtain recent annual financial reports of two ASX listed companies and analyze their corporate governance practices. Write a case study and an essay discussing the implications for auditors and accounting professionals.

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Added on  2023-04-25

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This study compares the corporate governance policies of Wesfarmers Limited and Woolworth Limited. It covers topics such as board composition, non-executive directors, independent directors, CEO statements, institutional shareholders, and CG principles. The study also discusses the implementation of CLERP 9 and the importance of integrated reporting in financial reporting.

Accounting Theory and Corporate Governance: A Comparative Study of Wesfarmers Limited and Woolworth Limited

Obtain recent annual financial reports of two ASX listed companies and analyze their corporate governance practices. Write a case study and an essay discussing the implications for auditors and accounting professionals.

   Added on 2023-04-25

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Running head: ACCOUNTING THEORY AND CORPORATE GOVERNANCE
Accounting Theory and Corporate Governance
Name of the Student
Name of the University
Author’s Note
Table of Contents
Accounting Theory and Corporate Governance: A Comparative Study of Wesfarmers Limited and Woolworth Limited_1
1ACCOUNTING THEORY AND CORPORATE GOVERNANCE
Answer to Part A.................................................................................................................2
Answer to Part A1...............................................................................................................2
Answer to Part A2...............................................................................................................2
Answer to Part A2a..........................................................................................................2
Answer to Part A2b.........................................................................................................4
Answer to Part A2c..........................................................................................................5
Answer to Part A2d.........................................................................................................5
Answer to Part A2e..........................................................................................................6
Answer to Part A2f..........................................................................................................6
Answer to Part A3...............................................................................................................6
Answer to Part B..................................................................................................................7
Conclusion.........................................................................................................................11
References..........................................................................................................................12
Accounting Theory and Corporate Governance: A Comparative Study of Wesfarmers Limited and Woolworth Limited_2
2ACCOUNTING THEORY AND CORPORATE GOVERNANCE
Answer to Part A
Answer to Part A1
Corporate Governance disclosure by Wesfarmers Limited
Some of the most evident policies followed by Wesfarmers Ltd. can be inferred as per
various considerations of the reporting which are identified with a blend of gender diversity,
skills, expertise including experience required decision making by the board.
Disclosure of CG by Woolworth Limited
The significant policies as per CG has been identified as per long-term shareholder value.
This includes the commitment made by the group associated towards maintaining the policies
which are of highest standard of compliance and disclosure.
Answer to Part A2
Answer to Part A2a
Directors count in Wesfarmers Limited
The board of Wesfarmers consists of 12 members. This is inclusive of directors such as
Bassat, Bowen, Howarth and Osborn.
Accounting Theory and Corporate Governance: A Comparative Study of Wesfarmers Limited and Woolworth Limited_3
3ACCOUNTING THEORY AND CORPORATE GOVERNANCE
Figure 1: Board members of Wesfarmers
(Source: Wesfarmers.com.au. 2019)
Directors count in Woolworth Limited
Based on the information provided in the annual report, the board member count at the
company is seen with 8 members.
Figure 2: Board members in Woolworth Limited
Accounting Theory and Corporate Governance: A Comparative Study of Wesfarmers Limited and Woolworth Limited_4

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