Implement and Maintain Internal Control Procedures

Running Head: IMPLEMENT AND MAINTAIN INTERNAL CONTROL PROCEDURES
IMPLEMENT AND MAINTAIN INTERNAL CONTROL PROCEDURES
Name of the Student
Name of the University
Author Note

1IMPLEMENT AND MAINTAIN INTERNAL CONTROL PROCEDUES
Table of Contents
Assessment 2..............................................................................................................................2
Internal Control and Governance Report...................................................................................2
Brief Overview of NAB.........................................................................................................2
ASX Corporate Governance Council’s Corporate Governance Principles and
Recommendations and application in the company...............................................................2
Key features of NAB’s governance and Control System.......................................................3
Identification of relevant regulatory requirements relevant to Internal controls, Governance
and Reporting.........................................................................................................................4
Importance of the procedures for internal control and governance for the Banking sector...5
Email..........................................................................................................................................5
Reference....................................................................................................................................7

2IMPLEMENT AND MAINTAIN INTERNAL CONTROL PROCEDUES
Assessment 2
Internal Control and Governance Report
1)
Brief Overview of NAB
National Australian Bank is one of largest and most popular financial institutions of
Australia, both in terms of customers as well as market capitalization in the industry of
Banking. Their banking includes business banking and personal banking that offers a variety
of range of the banking products as well as services to the business and retail customers that
ranges from the enterprises of small and medium to the largest institutions of Australia. The
business banking products of the company helps in catering the needs of the customers with
expertise in the Agribusinesses, health, property, community, education and government. It
also comprises of the services of specialized finance, debt markets, treasury and assets
servicing (Nab.com.au, 2019).
ASX Corporate Governance Council’s Corporate Governance Principles and
Recommendations and application in the company
The main role of the council is developing and issuing the principle-based
recommendations on the practices of corporate governance that has to be adopted by the ASX
listed companies. The intentions for the recommendations are to promote the confidence of
the investor and assisting the listed entities for meeting the expectations of the stakeholders
relating to the governance (Christensen et al. 2015). Under the listing rule of 4.10.3, the ASX
entities that are listed are required to set the benchmark for their practices of corporate
governance against the recommendations of the council and, disclosing the fact as well as the
reason why, to where they does not confirm. This rule does not forces for doing so but it
encourages the listed entities for adopting the recommended practices by the council. Hence,