Accounting and Finance - Misconduct in the Banking, Superannuation and Financial Services Industry - Financial Report Writing Assessment Answer

Internal Code: 1AGIGD

Accounting and Finance Assessment Answer

Assignment Task: The basic requirement is to write a considered and researched essay on the following topic: The ?nal report into Misconduct in the Banking, Superannuation and Financial Services Industry was tabled in Parliament on 4 February 2019. The Honorable Kenneth Hayne has completed this Royal Commission aXer more than 10,000 submissions and multiple witnesses who were subject to indepth questioning and analysis. There are many elements to the report into Misconduct in the Banking, Superannuation and Financial Services Industry, however it is noted that the Australian Banking Association recently released their updated Banking Code of Practice (e?ective 1 July 2019). The guiding principles of this Code are trust and con?dence, integrity, service, transparency and accountability. The Code of Ethics for Professional Accountants – APES 110 (e?ective 1 July 2020) is the standard under which we will be conducting our services as current and future accountants. Question: Compare the two Codes in terms of similarities and di?erences. Why was there a need to have these Codes created? Do you expect either (or both) of these Codes to be e?ective in their fundamental objectives? Explain and justify your perspective. The research assignment/essay should:

• Explain brie?y the similarities and di?erences between the two Codes in particular such items should be identi?ed, discussed and, where possible, explained.
• Justi?cation of the two Codes including any relevant underlying theory.
• Provide a considered and researched perspective of the likelihood of the success or otherwise of these two Codes going forward. A carefully considered opinion will be required as part of this assignment.
• The assignment is to comply with the University’s General Guide to Writing and Study Skills and General Guide to Referencing and the written report is not to exceed 2,500 words (excluding the title page, bibliography and appendices). Students are required to use the ‘APA system’ for the acknowledgment of sources. In order to help ensure that assignments meet required presentation standards, students are strongly advised to use the ‘Presentation check-list’ attached to these notes.

Extensive research will assist the direction and content in providing a considered approach to this research assignment/essay. Students may, if they wish, seek and use information from sources such as newspapers, business magazines etc PRESENTATION The ‘Presentation check-list’ indicates the requirements and expected standards concerning presentation. An assignment that complies with the guidelines highlighted in this check-list would normally be expected to achieve the required presentation standard). If further guidance is required, students should in the ?rst instance refer to the General Guide to Writing and Study Skills and General Guide to Referencing publications, available online from the University Library.

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