This report provides an analysis of corporate governance and director's duties in Australia, using the National Australia Bank (NAB) case as a primary example. It examines the findings of the Royal Commission, which revealed significant breaches of corporate governance principles by NAB, including charging fees for no service and failing to report breaches to ASIC. The report reviews the duties of directors under the Corporations Act 2001 and ASX principles, highlighting how NAB's actions violated these obligations. Furthermore, the report discusses the negative economic, social, political, and legal impacts of poor corporate governance and explores different theories of corporate governance, emphasizing the importance of ethical conduct and stakeholder interests. This document is available on Desklib, a platform offering a wide range of academic resources for students.