Ethics and Governance in Banking, Superannuation, and Insurance Industry

Ethics and Governance
Running Head: Ethics and Governance
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Student’s Name

Individual Assignment 1
Executive Summary
Business ethics is need of 21st century, which cannot be avoid or ignored. Businesses are
required to understand their responsibility ahead to profits. Stakeholders demands a level of good
behavior from organizations and feel demotivated and cheated when they do not find such
behavior. In Australia, the level of misconduct was increasing day be day especially in the
sectors related to banking and insurance where trust is a priority. To identify such issues and to
take actions against them Australian government took a significant step by establishing Royal
Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
This commission is engaged in the investigation of misconduct in banking, superannuation, and
insurance industry and also provides recommendations to them. Recently, this commission
prepared its final report and handed over to governor. The report is divided in three parts which
consist case studies related to misconduct and recommendations.
Further APES 110 is there which provide guidelines to members of Certified Practicing
Accountant" and expect that they will keep honesty, integrity, objectivity and due care in their
behavior while performing the designated duties.

Individual Assignment 2
Contents
Executive Summary.........................................................................................................................1
Introduction......................................................................................................................................3
Part A...............................................................................................................................................4
Ethics and its theories 4
Recommendations of Commission 6
Part B...............................................................................................................................................7
Conclusion.....................................................................................................................................10
References......................................................................................................................................11

Individual Assignment 3
Introduction
Ethics and governance are important aspects of every business. In Today’s time, the lead
motive of every organization is to earn profit and in order to fulfill this motive; they divert their
practices towards profit maximization. Businesses often forget that their doings may be wrong to
achieve the ultimate objective and they engaged in practices, which bring negative impacts on
people associated with a business (Managementhelp.org, 2019). Apart from shareholders/owners
of the company, other people and workgroup are also there which influence the working of an
organization. The organization not only hurts the interest of such a group but also affects
shareholders in a negative manner. It becomes the responsibility of managers of the business to
work in the best interest of stakeholders. Apart from managers of the business, other people who
work in their professional capacity also are responsible to work ethically considering the interest
of all and avoiding conflict of interest.
This assignment is developed on the topic of ethics and governance whereby the whole
focus will be on the finding of Royal Commission into Misconduct in the Banking,
Superannuation and Financial Services Industry (Royal Commission). Commission also provided
its recommendations and in this way, the ethics will be discussed in relation to respective
recommendations. In the second part of the assignment, one of the case studies investigated by
Royal commission will be discussed in conjunction with APES 110, standards which provide
ethical guidelines to professionals.