Governance and Fraud: Assignment
Added on 2021-04-16
11 Pages2676 Words38 Views
Running head: GOVERNANCE AND FRAUD Governance and fraudName of the StudentName of the UniversityAuthor Note
1GOVERNANCE AND FRAUDTable of ContentsRequirement 1:...........................................................................................................................2Evaluating the depth of adoption of ASX CGC principles by Mineral resources and Slater andGordon Group:...........................................................................................................................2Summary of composition of boards over the last 3 years:.........................................................3Requirement 2:...........................................................................................................................5Strength and weakness in TFS corporate governance:..............................................................5Contribution of corporate governance at TFS Corporation:......................................................7References list:...........................................................................................................................9
2GOVERNANCE AND FRAUDRequirement 1:Evaluating the depth of adoption of ASX CGC principles by Mineral resources andSlater and Gordon Group:The principles and recommendations set out in the practice of corporate governance isto ensure that the listed entities are likely to achieve good corporate governance outcome sothat most of the reasonable expectation of investors are met. There are mainly eight principlesas set out by the council and it comprise of board structuring to add value, laying solidfoundations for oversight and management, safeguarding of entity in corporate reporting, actresponsibly and ethically, making balanced and timely disclosure, remunerating responsiblyand fairly, managing and recognizing risks and respecting the security holders rights(Asx.com.au 2018). It is required by the corporate governance principle and recommendations thatcompanies should make disclosure of any material exposure to environmental, economic andrisks associated with social sustainability. As assessment of issues of material sustainabilityhas been conducted by Slater and Gordon group. Moreover, it has been ascertained fromreviewing of environmental, social and governance risks that a thorough review with respectto the indicators and aspects tabled in the Global reporting the company has conductedinitiatives of “G4 sustainability reporting guidelines”. The role of remuneration governanceduring the reporting period is to ensure that Salter and Gordon limited meet the requirementof guidelines of council of ASC corporate governance comprising of recommendations andgender diversity principles (Beekes et al. 2015). Group also conducts regular reviewing ofuncertainties and risks that could that would have an impact on objective achievement andbusiness strategy. Group in a competitive environment for rewarding executives fairly adopts
3GOVERNANCE AND FRAUDcontemporary executive remuneration strategies. In addition to this, ethical responsibilities oforganization have been fulfilled in accordance with code of ethics.Mineral resources have designed safety strategies that focus on consolidation ofmaking considerable improvement in the process of business. It is ensured by organizationthat critical risky activities are managed and identified with clear accountabilities for criticalcontrol verifications. Remuneration policy of Mineral resources is designed in such a waythat it helps in addressing the stakeholder key concerns. Structure of remuneration is designedfor creating strong link between performance that is based remuneration scheme and strategicpriorities of company. Board in engaging with shareholders for understanding their concernshas invested considerable time and efforts. The aspect of strategy of company is maximizingcreation of the long-term value of shareholders by way of generating superior return oninvested capital. Creating of transparency between performance and direct linkage is theprinciple guiding remuneration decision of company (Donelson et al. 2015). Summary of composition of boards over the last 3 years:The board of Slater and Gordon group comprise of executive, non-executive directorsand managing director. In financial year 2016, there were six non-executive director, oneexecutive director, one managing director and company secretary. As a part of process of recapitalization, Slater and Gordon group renewed the seniormanagement and board in year 2017. This recapitalization provides the best opportunity forsecuring the employees, firm and client’s future. While there were six non-executivedirectors, one managing director and one executive director of the group. Within the firm, thediversity is shaped by variety of characteristics that encompasses different ways of thinkingand enabling them to serve client in a better way to a diversified range of clients. At Slaterand Gordon, the commitment of board is to maintain and create a workplace that is inclusive
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Corporate Governance and Risk Assessment of Woolworths Group Limitedlg...
|12
|2938
|433
Importance of Corporate Governance Principles and Risk Assessment Procedures in JB Hi-Filg...
|11
|2709
|231
Compliance and Risk Management in Woolworth: An Audit Reportlg...
|14
|2878
|434
ASX CGC Principleslg...
|14
|2773
|232
Strengths and Weaknesses of TFS (Quintis) Corporate Governance Practiceslg...
|12
|2548
|417
Audit Assurance & Compliance Assignmentlg...
|13
|3211
|31