FNS60217 - Monitor Corporate Governance Activities - Financial Statements Audited - Report Writing Assessment Answer

FNS60217 - Monitor Corporate Governance Activities - Financial Statements Audited - Report Writing Assessment Answer

Task:

Provide answers to all of the questions below:

1. Access the ASIC web site to answer the following questions:

a) Which companies are required to have their financial statements audited?
b) What is the purpose of an audit and an auditor’s report?

2. Review the Australian Consumer and Competition Commission (ACCC) web site. Identify two forms
of anti-competitive behaviour that is against the law. Describe each in your own words.

3. Research the Code of Conduct issued by the Australian Institute of Company directors. Explain four key behaviours expected under the Code and the importance of adhering to each behaviour.

4. Explain the role of ASX in assisting corporate governance in Australia?

5. Explain the purpose of the Australian Securities and Investment Commission Act and the protections it offers to consumers.

6. Identify the Act that includes stipulations for the internal management of a company and the web site reference for the Act. Access the Act through the Internet and then explain the key requirements of this Act in relation to internal management of a company.

7. Identify and explain at least 3 statutory reporting requirements for companies in Australia

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