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FNS60217 | FNSACC624 Monitor Corporate Governance ActivitiesAssessment Tasks | V 2.0 | Apr 2018 Page 1of 13Assessment Task 1: Research: Corporate Governance & Breaches Assessment Task Research: Corporate Governance Schedule TBA Outcomes Assessed Performance Criteria: FNSACC624: 1.1, 1.2, 2.1, 4.3 Addresses some elements of required skills and knowledge as shown in the Assessment Matrix Description: There have been several case histories in Australia that have highlighted the need for sound corporate governance. In this assessment task, you will be required to research corporate governance issues in relations to given cases. Two of these cases will be provided to you for this assessment task; James Hardie: -hardie-decisions-australian-securities-investments-commission-v-hellicar-ors-hca17-shaf Storm Financial: Note: You may select other cases of governance and compliance breaches in consultation with your trainer/assessor; attach case information with your analysis/review. The Australian Securities and Investment commission carried out investigations into these two cases and produced reports, which are available via the commission’s ASIC website.Based on your understanding of these cases, complete the following tasks; Obtain a copy of the ASIC report/ media report and briefly describe the major corporate governance issues found and suggestions made to remedy the defects Describe the primary function of a Board of Directors and outline some of the basic elements Boards should adopt as sound corporate governance principles Provide examples of some of the potential breaches that can occur depending on the type/business operations of the organisation Identify the key organisations, both domestic and globally, that have played a role in shaping the corporate governance arena. Describe the recommendations each body has identified as the requirements for good corporate governance You may need to conduct some other online research through newspaper reports and analyses to support your answers. Write a brief report on your research providing; Provide an overview of the cases used in this task and highlight key rulings and legislative implications An overview of the governance framework in Australia including relevant guidelines and laws Corporate governance obligations for corporations and directors Specific governance issues with case organisations Remedial steps taken to address breaches of governance
FNS60217 | FNSACC624 Monitor Corporate Governance ActivitiesAssessment Tasks | V 2.0 | Apr 2018 Page 2of 13Assessment Criteria The following assessment criteria will be used for marking this assessment task. Ensure that you have addressed all of the criteria in your work.