Transparency and Accountability in Corporate Governance: A Case Study of Aldi

This report analyzes the violation of transparency and accountability in corporate governance at Aldi, a retail company. It discusses the impact of these violations on goodwill, financial structure, employee morale, and stakeholder trust. The report also explores the importance of transparency and accountability in generating long-term shareholder value and recommends an action plan for improving corporate governance practices at Aldi.

Report: Individual 6000 word
written report with action plan
Summative assessment

TABLE OF CONTENTS
INTRODUCTION.......................................................................................................................................3
Literature review.....................................................................................................................................4
Discussion of secondary and primary research......................................................................................11
Discussion.............................................................................................................................................17
Critical review of the results of the research..........................................................................................19
Recommendations and action plan........................................................................................................21
REFRENCES............................................................................................................................................25
Appendix...................................................................................................................................................28

INTRODUCTION
The violation of transparency and accountability has been recognised as one of the major
problems faced by companies within dynamic growing business world where shareholders
interests and growing competitiveness has been recognised as major growing avenues. Aldi is
one of the oldest retail company whose working scenarios has been widely impacted within
changing goals as company has been found violating and misleading the presentation of
transparency and accountability parameters which has also lead to disruption in goodwill level.
The investors within company has right to known exact transparent working aspects where
various functional aspects are progressively heading in business scenarios and how relation of
rights with owners have been working as key criteria. This comes under ethical corporate
governance under which general principles of disclosure and transparency comes , where it
becomes legal obligation to reveal all functional working scenarios, holding companies business
aspects and the joint ventures within which varied parameters have been developed.
Accountability and transparency is highly important as it eliminates time and efforts which is
wasted towards spending on various distracting activities along with unproductive decisions
which may further lead to losses in financial structure. Accountability violation with high level
of transparency is recognised as major determinant which is reducing working operational
efficiency and goodwill goals for longer terms, where Aldi is one of the retail company whose
productivity within goodwill has reduced widely within business parameters and also there has
been various cases recognised onto where there has been slow action taken by stakeholders to
protect interest of shareholders by focusing on transparency parameters of working goals
(Munteanu, Grigorescu and Pelinescu, 2020).

The report will be be analysing business domains where Aldi has been lacking functional
corporate governance ethics and to corporate with changing working parameters for functionally
reaching wider goodwill levels. Report also analyses how violation of transparency governance
has become one of the major working aspect onto which new working scenarios has been
idealised for generating new functional working ethics within longer run and to gain synergy of
competitive consumer strength goals. The retail industry cases has been widely growing among
competitive business scenarios within dynamic changing world onto where there are varied
misleading presentations done in financial reports for generating higher governance of profits.
Accountability at workplace means all employees hold the major responsibility for varied
actions, behaviours and working decisions which forms fundamental base to form wider
performance goals within evocative changing business paradigms. This can be understood as one
of the major aspects where employee morale is also impacted as the are unable to work with
detailed information and commitment to work is also reduced within longer run for generating
functional innovation. Transparency governance has been found as one of the major corporate
strength, which has been found further as one of the major corporate strength for generating
goodwill in long term and wider working aspects for gaining new corporate structural avenues
(Magalhaes, 2020).
Literature review
There has been various researches ongoing for generating functional advancement of
evolution how various paradigms have been recognised for growing wide changes which has
lead to violation of transparency and accountability factors among corporate governance
scenarios. The various topics concerning interrelation of companies working objectives within
this research can be understood as follows by analysing how various parameters of working
advancement has been underwent.
Evolution of transparency and accountability violation within corporate governance:
As per the views of Khaireddine, Salhi and Jarboui, (2020), author has analysed within
research papers that evolution of transparency and accountability violation in corporate
governance has been recognised as major concern rising high attention within working
parameters in competitive retail industry. This can be understood as one of the major high issue
within corporate governance scenario where illegal working practices, financial reporting

structure violation and also using misleading information for generating higher goodwill in front
of shareholders. There are various cases where differences of focus have been not projected in
reports of company and addressing of sustained economic growth, protection of shareholders
within various rights are showcased in reports. Author expresses purpose of presenting evolution
of main varied working principles and corporate frameworks which analyse financial
environment changes widely within working aspects should hold comprehension goal of
company. It can be understood as major technical factor which has reduced aspects of working
innovation where stimulation or ignorance of subsequent enforcement, monitoring goals are
violated within long run. Another author Solomon , (2020), has some contrasting views within
corporate governance which has been defined as set of mechanisms of various incentives,
functional monitoring in order to assure effective management in behalf of companies within
dynamic growing industry. Author analyses that with growing business competition paradigms it
is one of the foremost responsibility where company must focus on shareholders and
stakeholders goodwill for generating wide trust, transparency and high accountability for
investors. Within research papers there is analysis of how working innovation can be further
improved for greater new technical growth business opportunities where companies must focus
on using effective mechanisms such as functional usage of ethical corporate governance and new
working aspects which form wider productive market goodwill within longer run. This is one of
the major strength for generating new corporate functional ethics which develops larger goodwill
among shareholders and stakeholders commitment which motivates for building on new
scenarios of new regenerated working efficiency.
Issues faced by violation of transparency and accountability violation
As noted by views of Elmagrhi, Ntim and Zalata, (2020) , author expresses There are
various issues faced by violation of transparency and accountability which is one of the most
important concern raising within corporate governance business ethics where retail businesses
have been widely failing functional goals. There are various factors which lead to violation of
transparency and accountability governance which are avoiding excessive legislation, giving
high focus to business politics and competitive advancement coming on within companies.
Paying high close attention to varied incentives for leaders and top management which often
leads to misrepresentation of business scenarios along with working competitive growth goals

many times lead to misuse of power and transparency avoidance. Within research papers the
author expresses analysis that for generating working innovation efficiency and misleading
higher investments from various shareholders many times companies have been often using
various misleading working practices which has reduced technical growth exploration while
working on corporate governance fundamentals. Author analyses various challenges of working
parameters within avoidance of transparency, accountability which reduce working aspects of
efficiency and innovation at longer run, goodwill paradigms and keen scenarios of efficacy. This
can be understood as violation of accountability and transparency leads to high reduction of
company goodwill among global competitive industry paradigms and new scenarios of working
innovation where people are looking up to effective business reports, performance scenarios.
Shareholders often look financial reports for gaining analysis of working factors such as how
developing business goals are framed within working advancement, which technically is highly
important for generating new innovation at high long term aspects. Another researcher Raimo,
Zito and Caragnano, (2020), shows views within researcher that business financial performances
and revenues are also impacted when companies use misleading details and working parameters
in long run to hide working aspects and technical supervision for generating efficacy in running
new determinants. Researcher within business research papers has also functionally in detailed
analysed that new corporate governance ethics has brought high importance to transparency and
accountability parameters in companies, violation of which impacts working innovation goals at
long run. It can be understood as major scenario and technical factor which hinders growth and
new working scenarios among corporate structure to be implemented with high range of
effectiveness where retail industry domains have wide competitive levels to be reached on.
As illustrated by Waweru, (2020), views analyses that violation of transparency and
accountability ethical governance often leads to misrepresentation of working ethical governance
and developed goodwill goals where various factors are impacted in long run. Author expresses
views in researcher that variably conducting transparent and ethical functional business
presentation in all reports is foremost working aspect which need to be reinforced. There is often
high ethical working governance involved within new synergy of corporate governance onto
which there must be technical growth focused on by business top management which yields
focus onto how effective working parameters can often lead to stronger goodwill paradigms. It
can be noted from research done by author where performance related audits also plays an

important role to highly showcase working performance metrics which shows how companies
stakeholders have one of the most objectified role to play for bringing on goodwill and higher
revenue standards for larger goodwill.
Stakeholders impacted
As noted by the views of Harvey, Maclean. and Price (2020), author expresses focus onto
how violation of corporate governance ethics where transparency and accountability delegation
is violated often impacts various stakeholders which are internal as well as external in company
scenarios for generating wider working goodwill levels. This can be understood as one of the
major working aspects onto where there are employees whose morale is severely impacted
negatively within company management scenarios which is decreased and majorly reduced when
analysed among working scenarios. It could be understood that management obligations to be
ethical conducting business parameters also has employees working strength at stake which is
majorly impacted with reduced efficiency when company uses misrepresentation and technical
fallbacks to conduct business. Author expresses analysis where focus has been underwent on the
fact that turnover of management is also impacted when top management is not being transparent
of operations within internal and external levels which deeply reduces efficiency levels and also
there is active decline in management goodwill on longer run. Another author (Raimo., Zito and
Caragnano, 2020), expresses analysis on violation of transparency and accountability corporate
governance as one of the major technical factor which has reduced determinants of advancement,
new synergy for generating long term shareholders goodwill. Shareholders ideally never opt for
putting in their money within companies where violation of corporate governance is recognised
and also usage of various innovation and tools for checking new working scenarios have made it
more competitively easy for generating wider aspects. Author has analysed that research has
expressed working aspects by programming new diverse innovation and wider technical
efficiency to be developed among company’s business scenarios for generating functional
advancement for longer run. As illustrated with Waweru, (2020), the author expresses external
stakeholders such as government, shareholders and various other people who look upto company
within growing competitive industry parameters are often loosen when brand is seen using
misleading working details and presentation falling back. There shall be regular audits within
management for gaining stronger working goodwill within longer run and ideally also focusing

new working techniques such as wider regenerated goodwill which reduces violation cases.
Author expresses the varied working aspects to be conducted with high transparency and usage
of functional synergy, which impacts developing innovative synergy to be high within new
competitive paradigms and also for yielding focus onto how new strategies shall be framed. It
has been recognised as one of the major keen arena within new corporate paradigm which
impacts working aspects widely onto all parameters and often, there is wide focus and goals
framed competitively within retail industry.
As per the views of Raimo, Zito and Caragnano, (2020),author expresses importance of
how stakeholders and shareholders working efficiency is majorly impacted with high negative
functional scenarios when company top management not uses effective new ideologies such as
new technical growth exploration for bringing on wider domains efficiency. There is also
analysis developed on how various new practices have been evolving to keep check on
performance metrics of how corporate governance plays an effective role for changing new
innovation aspects and wider domains of longer term innovation. It could be understood that
author has in depth also potentially recognised that by using ethical practices within governance
of working aspects, legally company goodwill is developed on major arenas within competitive
industry platforms and wider technical growth is applicable only when new working aspects are
programmed to be implemented. This can be analysed as high important growth scenario where
functional innovation shall be actively followed, by utilising wider business practices of ethical
corporate governance conducting which also potentially raises new goodwill levels. It could be
understood that within global retail industry corporate governance violation issues have been
widely rising among companies and also there is more active demand among new industry
practices levels for generating functional innovation in longer run (Rahmawaty, Sabila and
Mutia,, 2020). Author has also expressed focus onto how various new strategies shall be
enhanced within working parameters for generating wider domains specialisation of how new
functional goals can be implemented. Then there is also new potentialities demanded among
management for keeping up with new functional governance within corporate governance and
also to impose wider domains specialisation where new recognised functional opportunities are
available among management. This can be understood as one of the most active demand among
new corporate governance ethics management, where strong improvements must be
implemented by working on wider technology levels and bringing on strict transparency rules.

Discussion of secondary and primary research
Primary Research
Aldi follows Corporate governance practices
Respondents
Yes 12
No 8
Workplace Accountability refers to
Respondents
Being responsible for ones action 11
Providing access to information 5

Ability to hire and fire 3
Accounting and bookkeeping 1
Aldi transparent with their employees
Respondents
Yes 16
No 4

Aldi have fair degree of transparency
Respondents
Excellent 0
Good 3
Fair 15
Poor 2

CG practices in company made a difference to overall functioning
Respondents
Increase transparency & accountability 11
Increase shareholder's value 3
Increase responsibility of Board of Directors 4
Increasing the internal control 2

Company develop a policy regarding to accountability of BOD
Respondents
Yes 15
No 5

Issues arises due to not complying with transparency and accountability practices
Respondents
Goodwill reduces 3
financial problems 4
Employee demotivate 3
All of these 10

Discussion
With the help of primary data collection method, it is analyzed that majority of the
respondent are agreed that Aldi follows corporate governance (CG) practices that helps the
company to run in better manner. Yu (2020) support that it encompasses all the internal and
external factors that may affect the interest of company's stakeholders. Therefore, Aldi should
make sure that it has to facilitate effective management which in turn deliver long term
success of a firm. Moreover, results also shows that quoted firm is transparent with their
employees. It is so because if company d not involve their employees within decision making
process then it demotivates employees which in turn affect the productivity. That is why,
company's management should make sure to consult with workers as they feel motivated and
also share their views that may favors the company's success.
WALID and Sherzad (2020) also support their views and stated that if company
maintain transparency that ensures that information is available that may be used to measure
the performance of authorities and this will help to prevent from any misuse of powers.

Therefore, only transparency leads to attain accountability so that authorities are responsible
for their actions. Through the survey, it is identified that majority of the respondents rate the
degree of transparency fair which means there is a need to improve the level of transparency
so that employees will also consider that they are important part of the company. In
accordance with Molyneaux and Head (2020) transparency & accountability are consider one
of the biggest issue within corporate governance and that is why, it affect the trust and creates
direct impact upon the performance level of a business. That is why, a two way information
channel needs to be creates that helps to understand the need of people and implement the
same within business. So, adopting best practices will help to bring out a new way of
providing real time information through online dashboard which in turn leads to improve the
overall revenue of Aldi.
Moreover, by adopting CG practices, it is analyzed that there is a difference to overall
functioning and as a result, there is an increase in transparency & accountability that helps to
meet the business goals and aim. This is further supported by Lebedeva and et.al., (2016) that
transparency ensure that information is available that helps to determine the performance of
authorities, while without it trust is lack between the stakeholder that would creates
instability within an environment. Also, by asking question regarding impact of non
complying with transparency and accountability, it is examine that it creates negative impact
upon entire company such that goodwill affects, there is a negative impact upon company's
performance. That is why, Aldi should make sure that all the corporate governance practices
should be complied in proper manner so that it do not cause any effect upon firm.
As employees of Aldi clearly reflected that they are not satisfied with the degree of
transparency, but firm also develop a policy that helps to minimize the issue. Such that
Whistle Blowing is the strategy that is developed by the company in order to maintain
transparency. Hence, with the help of current policy, company gives freedom and also allows
their employees to report their management which in turn assist to stop all unethical or illegal
work. To support the same, Kostyuk and Barros (2018) stated that whistle blowing policy
encourages culture so that wrong-doing can be easily address so that company's brand
reputation do not affected in any way. Hence, this type of policy will assist company to run in
better manner which leads to increase performance as well as accountability. Thus, it can be
stated from the primary research that there is a need to improve the transparency and
accountability because the issue leads to affect the overall functioning of the company in
opposite manner.

Solomon (2020) share their views and stated that there are various issues of corporate
governance that a company face, but among all transparency and accountability affect entire
working of employees as well as company in negative manner. Therefore, top management of
Aldi should build trust with the clients and peers which will provide visibility into project and
as a result all the challenges are minimized. So, it is also stated that transparency drives to
team performance, task ownership along with better communication. Hence, this in turn leads
to motivate the employees as well as start accepting challenges so that company meet their
aim in better manner. The organization structure of the company is also hierarchical and that
is why, all the employees are accountable for their own roles and share the problem with
senior management in order to attain the best results. Hence, it is analysed that once
transparency is added to company then it makes employees feels positive as, an organization
meet with higher ethical standards and thus employees will be more engaged as well as
committed to attain the vision. So, it is quite necessary to identify the loophole or any issue
that cause negative impact upon business and tries to develop action or strategies in order to
minimize the same.
Critical review of the results of the research
After understanding the different data collected with the help of primary data collection tool
and analysing the same it has been identified that Company used to follow Corporate
Governance practices in the organization (Yu, 2020). This is really a good sign for the
company as it will help the company in ensuring corporate success and economic growth and
help company in lowering down the capital cost and share price of the company also gets
positive impact.
After that primary data shows that meaning of accountability is way different for all
the organization in general. As some respondent has chosen the option of Being responsible
for one action, Providing access to information and some has selected the option of
Accounting and bookkeeping. This is not that good sign for the company as this result shows
that view point and thought of all the individual in the organization is not at the same path.
This used to create the variety of the issue for the company as all the employee will not
understand the variety of the changes that effectively.
After that the next two question in the survey has provided variety contradicting
response. As first question shows that Aldi used to maintain a good sort of the transparency,
as out of the pool of 20 respondent 16 respondent has gone with the option of Yes in the

survey and only 4 has gone with the option of No in the Survey. This is really a great sign for
the company as it means that there is good sort of the clarity and transparency is maintained
in the organization (WALID and Sherzad, 2020). On the other note it has been identified that
15 participant has gone with the option of Fair in the survey. This is really a shocking result
as only 3 has gone with the option of Good in the survey and 0 participant has gone with the
alternative of Excellent in the survey. For the same reason it has been recommended to the
organization that employee is happy with the level of transparency which is maintained in the
organization, but they are not that motivated of the same fact. For the same reason it has been
recommended to the organization that they used to improve the quality of the transparency or
promote the transparency in a way that all the different individual in the organization are
clear about the way transparency is maintained in the organization. Reason for identifying the
same is that if at one point respondent are happy with the transparency but in the second
question they have marked the same that they are not properly happy. They are just Fairly
happy then organization has to make sure that they used to promote the transparency in a way
that experience level of different employee in the organization is enhanced in the long run.
After that survey highlights that adopting the CG practices in the organization has
brought good sort of the difference in the way respondent used to think about transparency
and accountability present (Molyneaux and Head, 2020). It has been highlights that 55
percent of the respondent has gone with the option of Increase in transparency and
accountabilities is one of the impact which is seen by the organization due to adoption of
different CG practices. At the same time looking at the another aspect of the same is that out
of 20 only 11 participant has gone with the option remaining 9 has eventually chosen other
option in the survey. Hence, organization has to consider the opinion of 9 individual as well
in the survey they have to go on with the CG practices in the market, but they can not be over
depended on the same as well. As almost half participant were against the same as well.
Hence, organization has to consider different technique or practices as well in the
organization to improve the quality of transparency and accountabilities activity performed in
the organization.
After that primary survey conducted in the survey has helped in understanding that
company used to make the policy in the organization in regard to maintaining accountability
of BOD in the organization. This statement is passed on the basis of result of the survey
(WALID and Sherzad, 2020). As out of pool of 20 respondent 15 has gone with the
alternative of Yes in the survey, whereas only 5 participant in the survey has gone with the

alternative of No in the survey. This is very good sign for the company as making policy for
the BOD in the organization used to help the BOD in getting bound themselves in a group of
restriction before bringing or making any of the decision in the market (WALID and Sherzad,
2020). This eventually used to help the organization in improving the level or quality of the
decision which are generally made to bring good sort of clarity in organization performance
and accounting different individual. At the same time next question of the survey highlights
that there are variety of the different type of the issue may arises for the company if company
is not able to compile different activity with the transparency and accountabilities function of
the organization. As almost half number of respondent from total pool has selected the option
of all the above i.e. Goodwill reduces, financial problems and Employee demotivate. Hence,
on the basis of the result of the survey it has been understood that organization has to
maintain the good sort of transparency and accountability and also has to take the step to
improve the same as well in the organization. As if company is not able to do the same
organization has to face good sort of the issue in the coming future. Hence, evaluating the
policies on the timely basis will be good option for the company in going forward.
Recommendations and action plan
There are various recommendations which will enable Aldi to form new working
aspects of corporate governance ethics within working scenarios for longer business goals
and new working scenarios to be reached on. This can be understood by focusing onto
developing new functional ethics as important domains and paradigms to be reached on
among wider working scenarios. There should be conduct of various new auditing practices
and use of new innovative operational advancement for keeping up with transparency
standards, communication with meetings of stakeholders should be done in regular meetings
for generating functional standards of working paradigms. Also there is wide range of new
explorative innovation under which new ethical business goals shall be framed by ALDI. The
wide changes undergoing within retail industry should be changed by working on new
scenarios where technical growth is actively worked on for new relative innovation among
major aspects (Cuervo, 2020). Aldi must also focus onto using websites addressing
parameters by being active towards meetings with internal and external stakeholders,
shareholders who enable to generate wider working scenarios with major conducting of
corporate governance ethics. The company must also dynamically follow various new

functional paradigms where misconduct has been found and also developing focus onto how
various new keen scenarios must be followed.
Ethical corporate governance plays major impactful role in evaluating future growth
business opportunities and focusing onto wider scenarios where actively company
shareholders are focusing to achieve. Practical focus shall be pertained onto how
transparency paradigms can be focused onto achieving and also gain wider focus onto
pertaining new technical paradigms which enable to yield long term strength and major new
diverse standards must be implemented. This will enable Aldi to gain new goodwill
paradigms to be raised within wider future goals and to actively build new research skills
under which stronger synergy can be analysed. It is also most actively important for using
wider new effective skills among financial reporting to be advance, be practically innovative
and maintains new corporate governance steps among management for generating wider new
domains efficacy and stronger vision among longer run.
Ethical corporate governance analysed within report enables us to conclude that with
changing working competitiveness and wider functional innovation taking up pace there are
various paradigms where corporate structure feasibility is at risk within longer run if
companies are not using corporate governance ethics to be implemented within company
scenarios. There is also active focus widely built onto how varied new working ethics enable
to frame stronger working focus and generate long run new evocative scenario for active new
development within company standards. Aldi as concluded within report has been lacking
functional innovation in bringing on transparency and ethical business framework onto where
retail industry growth can be actively analysed, where new corporate ethics goals are highly
important to be framed. New monitoring tools and activities must be planned among
management where various new key criteria’s must be conducted as highly important and
also there is active demand among shareholders for e-reporting which shall be conducted at
regular intervals among websites. There is also wider demand among major key scenarios
within new competitive growing retail industry where new reflected synergy of generating
effective planned infrastructure and new domains must be explored to keep up with high
range of new technical growth (Rahdari, Sheehy and Sepasi, 2020). There is also potential
potentially of being ethical transparent of varied changing business goals and partnerships
which shall be focused on by Aldi and there shall be active communication, brainstorming
sessions to enhance accountability towards stakeholders internal as well as externals.

Action plan
The action plan is one of the most important aspect for keeping record of working
aspects, how various new strategies needs to be planned and how Aldi can put in force along
with monitoring of all scenarios .
Issues identified Strategies to be taken Monitoring activities Tenure
Less transparency and
accountability in financial
reports has reduced
shareholders interest, as
violation of corporate
governance has reduced
functional profits and
goodwill within longer run.
This shall be improved
by imposing strict
guidelines and
functional governance
rules where financial
reports, audits done
internally shall be
shown clearly to all
shareholders through e
reporting on websites.
This will be monitored
by actively focusing
onto how various new
strategies have been
taken in place among
management, effectively
also focusing onto new
technical innovation
where Aldi wants to
reach in future.
6 months
Less use of new machinery
and tools to monitor and
check transparency of all
operations, where working
scenarios have been widely
impacting on long run
working scenarios.
This shall be changed
by bringing on new
effective advanced tools
and technology which
will deliver quick
information of how
various working
innovation are taking
place and how further
generation of stronger
working performance
can be done.
Monitoring shall be
done by top
management and
functional departments
where main focus is to
be put onto how various
new cooperative
working parameters
shall be governed and
new explorative new
domains reached, shall
be monitored.
4 months
Less accountability towards
stakeholders has been
found as major factor
leading to employees
morale reduction, and also
high turnover with
Regular meetings must
be conducting and use
of various new diverse
activities shall be
conducted for
generating
This can be monitored
by seeking feedbacks for
accountability strategies
and also checking
performance levels
2 months

decreased goodwill levels communication among
stakeholders
within set time periods

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Appendix
Name:
Age:
Gender:
1. Does the company follows Corporate Governance (CG) practices?
 Yes
 No
2. What does workplace accountability refers to?
 Being responsible for ones action
 Providing access to information
 Ability to hire and fire
 Accounting and bookkeeping
3 Does Aldi transparent with their employees?
 Yes
 No
4. How would you rate the degree of transparency within Aldi?
 Excellent
 Good
 Fair
 Poor
5. Do you think, adopting CG practices in company made any difference to overall
functioning?
 Increase transparency & accountability
 Increase shareholder's value
 Increase responsibility of Board of Directors
 Increasing the internal control
6. Is company develop any policy regarding to accountability of BOD?
 Yes
 No
7. What are the issue did company face while not adopting transparency and accountability
practices?
 Goodwill reduces
 financial problems

 Employee demotivate
 All of these