Select an Australian publicly- listed company and locate their latest annual report (eg Commonwealth Bank, NAB, BHP etc). Review the Corporate Governance section of the annual report ; then answer the...

question attached Select an Australian publicly- listed company and locate their latest annual report (eg Commonwealth Bank, NAB, BHP etc).


Select an Australian publicly- listed company and locate their latest annual report (eg Commonwealth Bank, NAB, BHP etc). Review the Corporate Governance section of the annual report ; then answer the following questions: 1. Identify the company’s corporate governance principles and practices. 2. What are the functions reserved to the board and to senior management in relation to Principle 1* (Lay solid foundations for management and oversight.) (*refer note on Principle 1 at the end of the page) 3. What is the process of monitoring the performance of senior executives? 4. What is the structure of the board? 5. Does the company have any codes of conduct which guide business practices and decision making? 6. Outline the company’s policy concerning trading in its securities by directors, senior executives and employees. 7. What committees are in place to support the corporate governance principles? Give a brief overview of the role of each committee.(eg audit committee, remuneration committee) 8. How does the company promote timely and balanced disclosure of information to ensure compliance with the ASX Listing Rules? 9. How does the company communicate with its shareholders? 10. Outline the company’s policies on risk management. 11. Locate the Director’s Declaration in the annual report. What information is contained in this report? 12. Locate the Auditor’s Independence Declaration and explain how it supports good corporate governance. 13. Locate the Remuneration Report and briefly describe its contents. If any of the above information cannot be found in the annual report then log on to the company’s website and click on ‘Corporate Governance’. NOTE: *Principle 1: Lay solid foundations for management and oversight. Companies should establish and disclose the respective roles and responsibilities of board and management. The overall framework should achieve the following aims: · To enable the board to provide strategic guidance for the company and effective oversight of management. · To clarify the respective roles and responsibilities of board members and senior executives in order to facilitate board and senior executives’ accountability to both the company and its shareholders. · To ensure a balance of authority so that no single individual has unfettered powers. Recommendation 1.1: Companies should establish the functions reserved to the boards and those delegated to senior executives and disclose those functions. Recommendation 1.2: Companies should disclose the process for evaluating the performance of senior executives. Recommendation 1.3: Companies should report the following information: Annual report Website An explanation of any departure from recommendation 1.1,1.2 or 1.3 A statement of matters reserved for the board, or the board charter or the statement of areas of delegated authority to senior executives. Whether a performance evaluation for senior executives has taken place in the reporting period and whether it was in accordance with the process disclosed.