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Corporate Governance Requirements Name of the student University name

   

Added on  2020-04-15

7 Pages1595 Words56 Views
Running head: CORPORATE GOVERNANCE REQUIREMENTSCorporate Governance RequirementsName of the studentUniversity nameAuthor’s note

1CORPORATE GOVERNANCE REQUIREMENTSTable of ContentsIntroduction.....................................................................................................................................21.1 Requirement of corporate structural changes..........................................................................21.2 Purpose of corporate governance activities..............................................................................31.3 Director’s duties.........................................................................................................................31.4 ASIC legislative requirements....................................................................................................41.5 Review of current internal control procedures.........................................................................41.6 procedures for controlling handling of cash receipts and payments........................................4Conclusion........................................................................................................................................5References.......................................................................................................................................6

2CORPORATE GOVERNANCE REQUIREMENTSIntroductionThe assignment focuses upon the importance of corporate governance within thecontext of a business organization. The organization for Economic Cooperation andDevelopment (OECD) defines corporate governance as relationship among a company’s board,management, shareholders and different stakeholders. It provides a structure for setting theobjectives of the company and the means of attaining the objectives. The assignment furtherstudies the importance of structural changes within the business context.For the current assignment, the Baby Bunting Group Company Limited (BBGCL) havebeen chosen which is an Australia based nursery retailer and one-stop baby shop. The companyhad been found and run as a family owned business organization. However, recently themajority shares of the company had been undertaken by the Government making it a publicsector Company. The aim was to provide baby care products to the new born to 3 years of ageat affordable prices. It further analyses the legislative requirements and the impact of the sameupon controlling the internal procedures within the organization.1.1 Requirement of corporate structural changesThe changes in the structures and policies of corporate governance helps in meetingwith the business objectives of the organization such as protecting company assets fromaccidental losses, to ensure reliability of financial information, promote an environment wherethe staff and the management can maximize their productivity for the benefits of theorganization (Ball et al. 2013).There are a number of reasons based upon which the corporate governance policies of acompany or business organization are restructured. Some of these have been discussed withinthe context of the assignment such as change in management. In this respect, BBGCL have beenchanging its governance from that of a private retailer store to a public sector undertaking(Babybuntingcorporate 2017). Therefore, the change in ownership called for revision of thecorporate governance policies of the company. In this respect, the reduction of the

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