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Corporate Law Solved Assignment

   

Added on  2021-01-02

14 Pages3462 Words338 Views
Political Science
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Corporate Law
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Table of ContentsINTRODUCTION ..........................................................................................................................1TASK...............................................................................................................................................1A).Discuss whether your chosen company adheres to the principles of good corporategovernance..............................................................................................................................1B). Implications of non-adherence to good corporate governance principles........................6CONCLUSION ...............................................................................................................................9REFERENCES..............................................................................................................................10
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Corporate Law Solved Assignment_3

INTRODUCTION Corporate law can be simply defined as the body of law which commonly deals with thecreation and operations of corporations, businesses and organisations1. This is to be noted that itis affiliated with the commercial and contract law. It is referring to the legitimate practicesrelating to or the theory of corporations. The main purpose of designing this report is to explorethe importance of Australian corporate law. In this regard, a famous firm named 'CommonwealthBank' is considered which is offering banking services to the civilians living in Australia. In thisassignment the principles of good corporate governance adhered by the organisation ishighlighted. TASKA).Discuss whether your chosen company adheres to the principles of good corporategovernanceCommonwealth Bank of Australia is a famous Australian international bank whose isoffering an assortment of financial services such as insurance, management of funds, investmentand broking services, etc. Australian government had set up this organisation in 1911. Thisassociation was listed on the ASX (i.e. Australian Stock Exchange ) in the year of 1991 and theirconducts are being considered by the Royal Commission. It has been noticed that the mentionedfirm is now concentrating on principles outlined by Corporate governance and members existedin organisation are trying to adhere the same. Corporate governance is nothing but the system ofnorms, regulations, practices and processes through which a corporations are directed , managed& controlled2. This basically concern with balancing the interests of stakeholders likeconsumers, shareholders, suppliers, management, financiers, communities and the governmentinvolved in a firm. In addition to this, corporate governance is also providing them the structureto attain their predetermined aims and objectives. There are some especial principles of goodcorporate governance that should be followed by all the ventures existed in corporate world.Core principles outlined by corporate governance are described below :1Jacoby, S. M., 2018.The embedded corporation: Corporate governance andemployment relations in Japan and the United States. Princeton University Press.2Velnampy, T., 2013. Corporate governance and firm performance: a study of SriLankan manufacturing companies.1
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