Corporate Governance and Risk Assessment of Flexigroup Limited

HI6026 - Audit, Assurance, and
Compliance
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Executive summary
The report that is presented below provides the information about the corporate governance of
the flexi group limited. In this, the company which is listed in the ASX is required to follow all
the principles which have been set in respect of it, There are in whole 8 principles and they all
will be mentioning the different aspects. All of them will be used so that the objectives of the
company will be met in the most appropriate manner. The implication of the same for the
company will also be explained. Together with this, the risk assessment procedure will be
performed in which position of the company will be evaluated. There will be various ratios
which will be calculated for the same. The company faces certain risks and all of them will be
determined and with that, the steps which will be taken for their elimination will also be
considered.
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Table of Contents
Executive summary.........................................................................................................................2
ASX Corporate Governance Principles...........................................................................................4
Lay solid foundations for management and oversight.................................................................4
Structure the board to add value..................................................................................................4
Act ethically and responsibly.......................................................................................................5
Safeguard integrity in corporate reporting...................................................................................6
Make timely and balanced disclosure..........................................................................................7
Respect the rights of security holders..........................................................................................7
Recognise and manage risk.........................................................................................................7
Remunerate fairly and responsibly..............................................................................................8
Risk assessment...............................................................................................................................9
References......................................................................................................................................12
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ASX Corporate Governance Principles
Lay solid foundations for management and oversight
The company has certain objectives which are required to be achieved and for that proper
management is required and this will be possible when the business will have proper directors.
For this, it is required that all the roles which are to be played by them together with their
responsibilities shall be appropriately disclosed (Kraakman & Hansmann, 2017). There shall be a
proper system in the company by which it will be possible to evaluate and monitor their
performance at regular interval of time.
The implication for Flexigroup Limited:
The responsibilities of the board have been set in the policy which is made in this respect and
they include:
 All the strategies of the business are to be evaluated and also the plans will be approved
by them which are framed.
 Financial performance and operations of the company are to be monitored.
 Establishment of internal control after the identification of principal risks.
 Setting of proper reporting mechanism so that timely information is provided to all the
shareholders.
In addition to them, there are various other roles which are to be played by them and the
committees are set in this respect such as nomination, remuneration, and risk committee
(Flexigroup limited, 2017). The management of the company is responsible to manage the
activities in such manner by which it will be possible to attain the parameters which are
described by the board. The risks which have a material impact are to be determined so that they
can be managed appropriately.
Structure the board to add value
This principle covers the composition of the board which is maintained by the company. In this,
the size will be determined so that it can be ascertained whether it is appropriate or not. The
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