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ACFI3009 CONTEMPORARY ACCOUNTING ISSUES 2022

ASSESSMENT 2: GROUP WRITTEN ASSIGNMENT

Purpose:

How might a better application of the ASX Corporate Governance Principles have prevented corporate collapse and other business scandals?

Weighting:

Total 20%

Marks will be awarded based on group participation,subject to the group work requirements included below.

Requirements:

1. Groups of 4 members have been automatically created.

2. Select a case study that describes the business scandal or corporate collapse in the company. Confirm choice of company with Edgar Wong BEFORE you proceed further.

3. Critically analyse the corporate collapse or business scandal using three relevant ASX corporate governance principles and theory to show how the problem could have been averted.

4. Further information about structure and requirementsis stated below.

5. One group member to submit the completed report to Canvas by the due date.

6. Each member to complete the group member assessment and submit via email to [email protected]

The task:

You are required to describe and then critically analyse the corporate collapse or businessscandal assigned to your group.

Drawing from the readings, text books and your own research as the basis of your arguments, the group is required to write a report outlining its view on the ethical issues faced by the company and how a better application of the ASX Corporate Governance Principles* might have prevented the collapse or business scandals assigned to your group. The group MUST apply the ASX Corporate Governance Principles in the report, but you can also make reference to corporate governance principles from other countries if these are applicable. There is a 2,500 word limit on the report excluding the reference list, figures, tables, table of contents and titles. There is a 10% flexibility on the 2 500 words. Any content in excess of 2,750 words will not be marked, and you will receive a 10% penalty from the final grade, e.g. 65% becomes 55%.

A properly formatted reference list is required but does not form part of the word count. You may select from one of the frequently used academic reference styles (e.g. Harvard, APA). While marking will not be pedantic (i.e. marks won’t be deducted if a semi-colon isn’t in the right place!) when it comes to exact use of the reference style selected, you will be penalized if you do not reference in an acceptable manner, as it is expected that you have some proficiency in this by the end of your third year. Please also use inline referencing to acknowledge sources (ALWAYS!). If you disclose information without having it properly referenced you will subject to the academic honesty and plagiarism policy in line with the University policy and all such cases will be referred to the Faculty Discipline Committee (SACO).

*Note - please use the 2019 ASX Corporate Governance Principles

Group work:

Each group member will be assessing the contribution of their peers. We will use the survey (questionnaire) provided on SPARK. The link will be available in the "Assessment 2" folder once groups have been formed. The responses to this survey will be used to rework marks in the event of a consistent measure of under-performance as assessed by your peers. Note that this means that if you do not contribute, you may get a lower mark for the group assessment than your peers. The maximum mark to be allocated to any group member will be 100%.

Please also keep records of your interactions with group members and of your own contribution to the assessment, in case of a dispute.3

Recommended structure:

(This is a guide only)

1. Introduction

Includes objective and definition of key terms used in the report

2. Case study

Describe what happened and why it happened. What was the outcome? – Good research well referenced, please – this forms the basis of the rest of your report.

What ethical principles are involved? Threats?

3. Analysis using relevant corporate governance principles (ASX only – choose up to the top 3 that apply to discussin detail)

There are a few ways you could structure this discussion.

One suggested structure is:

3.1 Corporate governance principle 1

3.1.1 Explanation of the corporate governance principle

3.1.2 Relevant theory & literature supporting the corporate governance principle

3.1.3 Explanation of how the corporate governance principle could have prevented the corporate collapse or business scandal

An alternate structure is OK. For example, you might like to structure your analysis with only one section for the applicable theories and then an analysis of each of the problems you have identified. Please just make sure that you describe and apply three corporate governance principles.

4. Other(international) governance principles that apply.

5. Conclusion

Solid conclusion justifying the corporate governance principles discussed and the group’s reflection. Includes addressing the ethical issues identified and possible alternative ways to prevent these in future.