Please do all the tasks given. And select any ASX listed company which you like, to do this assignment
Trainers Assessment Resource FNSACC516 Version 2.1 April 2018 Page 1 of 4 ASSESSMENT 1 – RESEARCH REPORT STUDENT INFORMATION This information is to be handed to each student to outline the assessment requirements For this assessment, you are to research and review corporate governance requirements for a company of their choice. The company must be chosen in consultation with your assessor. You may base this task on your Training Organisation if no other companies are suitable. As a minimum, it is important that you: Undertake a comprehensive review of corporate governance requirements applicable to corporations, and determine their relevance to your chosen company Research and explain 8 corporate governance principles. You may refer to governance principles written for ASX, however if your company is not ASX listed, you should choose relevant standards to apply. Be sure to provide you reasons for choosing these standards. Determine what practical applications these requirements have on the company Seek further information regarding practical application of corporate governance requirements from relevant sources (these sources must be included in your report). Further information may be sought from a variety of sources including, but not limited to: - ATO - Professional associations - Financial information systems - ASIC Comprehensively review any internal control procedures your business has in place and determine whether compliance with corporate governance requirements has been met. If so, detail how. If not, suggest additional internal control policies to ensure compliance. This assignment should be submitted in the form of a detailed written report. You must utilise sources as listed above for clarification, and these sources must be documented in your report. Assessment Summary You are to submit the following evidence / perform the following tasks Develop and submit your written report as outlined above This assessment is due on: __________________________________ FNSACC516 Version 2.1 April 2018 Page 2 of 4 ASSESSMENT 2: PROJECT STUDENT INFORMATION This information is to be handed to each student to outline the assessment requirements Part 1: (1,000 words) You are required to undertake a further review of the company chosen in Assignment 1. Students are required to undertake the following: Review the following aspects of financial delegations and accountabilities within the company and determine their compliance with internal control procedures - Expenditure and / or investment approvals - Corporate governance requirements - Loan and lending approvals - Sign off authorities Determine timeframes taken to complete and release reports such as operating and cash flow statements - Are these completed within agreed-upon timeframes? - Do the deadlines comply with legislative requirements? Once students have reviewed the relevant areas, they should write a 1,000 word report on their findings. Students should focus on an area that either does not meet corporate governance requirements, or can be improved for the next part of this assignment. Part 2: Students must next choose an area to write a new procedure that will meet corporate governance requirements. Ideally, this should be within the context of financial reporting, recording of data, filing etc. Determine the need for a new procedure that could better meet corporate governance requirements. If all requirements are already met, the students should consult with their instructor to determine what area they should focus on. Liaison with instructor to determine timeframes and deadlines for implementation of your new policy / procedure Consult with published sources such as the ASX to obtain a template for your procedure. Create a detailed internal control procedure to meet the needs of corporate governance as determined in Part 1 The procedure must be in an appropriate format and documented / filed as necessary The procedure can be completely new in the case of non-compliance with corporate governance, or can be a modification of an existing policy to improve internal control measures. Finally, students must write a 500 word report on the following: Discuss how the procedure can be monitored to ensure it is effective – i.e. any relevant errors should be well documented by staff Comment on any variations of corporate governance requirements you have discovered, and give reasons why these variations may exist FNSACC516 Version 2.1 April 2018 Page 3 of 4 Assessment Summary You are to submit the following evidence / perform the following tasks Submit company review report Submit procedure developed Submit monitoring report" This assessment is due on: __________________________________ FNSACC516 Version 2.1 April 2018 Page 4 of 4 ASSESSMENT 3: PROJECT STUDENT INFORMATION This information is to be handed to each student to outline the assessment requirements For this assessment, students are to write an 800 word report on the following: What is purpose of corporate governance recommendations? Discuss how corporate governance and compliance with these policies and recommendations promotes ethics in business and accounting Give specific examples relating to the company you have researched in Assessments 1 & 2 Students must also create a spreadsheet listing the following information: For each corporate governance recommendation, list exactly how the company has met the recommendation If any recommendations are not met, then briefly list in the cell what the company could implement to ensure compliance. Assessment Summary You are to submit the following evidence / perform the following tasks Submit your 800 word report as outlined above Submit your spreadsheet as outlined above This assessment is due on: __________________________________ Trainers Assessment Resource FNSACC516 Version 2.1 April 2018 Page 1 of 4 ASSESSMENT 1 – RESEARCH REPORT STUDENT INFORMATION This information is to be handed to each student to outline the assessment requirements For this assessment, you are to research and review corporate governance requirements for a company of their choice. The company must be chosen in consultation with your assessor. You may base this task on your Training Organisation if no other companies are suitable. As a minimum, it is important that you: Undertake a comprehensive review of corporate governance requirements applicable to corporations, and determine their relevance to your chosen company Research and explain 8 corporate governance principles. You may refer to governance principles written for ASX, however if your company is not ASX listed, you should choose relevant standards to apply. Be sure to provide you reasons for choosing these standards. Determine what practical applications these requirements have on the company Seek further information regarding practical application of corporate governance requirements from relevant sources (these sources must be included in your report). Further information may be sought from a variety of sources including, but not limited to: - ATO - Professional associations - Financial information systems - ASIC Comprehensively review any internal control procedures your business has in place and determine whether compliance with corporate governance requirements has been met. If so, detail how. If not, suggest additional internal control policies to ensure compliance. This assignment should be submitted in the form of a detailed written report. You must utilise sources as listed above for clarification, and these sources must be documented in your report. Assessment Summary You are to submit the following evidence / perform the following tasks Develop and submit your written report as outlined above This assessment is due on: __________________________________ FNSACC516 Version 2.1 April 2018 Page 2 of 4 ASSESSMENT 2: PROJECT STUDENT INFORMATION This information is to be handed to each student to outline the assessment requirements Part 1: (1,000 words) You are required to undertake a further review of the company chosen in Assignment 1. Students are required to undertake the following: Review the following aspects of financial delegations and accountabilities within the company and determine their compliance with internal control procedures - Expenditure and / or investment approvals - Corporate governance requirements - Loan and lending approvals - Sign off authorities Determine timeframes taken to complete and release reports such as operating and cash flow statements - Are these completed within agreed-upon timeframes? - Do the deadlines comply with legislative requirements? Once students have reviewed the relevant areas, they should write a 1,000 word report on their findings. Students should focus on an area that either does not meet corporate governance requirements, or can be improved for the next part of this assignment. Part 2: Students must next choose an area to write a new procedure that will meet corporate governance requirements. Ideally, this should be within the context of financial reporting, recording of data, filing etc. Determine the need for a new procedure that could better meet corporate governance requirements. If all requirements are already met, the students should consult with their instructor to determine what area they should focus on. Liaison with instructor to determine timeframes and deadlines for implementation of your new policy / procedure Consult with published sources such as the ASX to obtain a template for your procedure. Create a detailed internal control procedure to meet the needs of corporate governance as determined in Part 1 The procedure must be in an appropriate format and documented / filed as necessary The procedure can be completely new in the case of non-compliance with corporate governance, or can be a modification of an existing policy to improve internal control measures. Finally, students must write a 500 word report on the following: Discuss how the procedure can be monitored to ensure it is effective – i