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Accounting Assignment Question
Justify and communicate corporate governance advice and ideas in complex collaborative contexts involving both professionals and non-professionals in the corporate governance field.
Accounting Assignment Solution
The aim of this report is to discuss two major aspects of corporate governance. The first part of the report discusses the roles and responsibilities of the board of directors and CEO and how the company needs to delineate their roles separately. It is recommended that in order to achieve a long-term relationship and to be high functioning, both parties need to respect and appreciate their distinct roles. The second part of the report discusses how good corporate governance is positively associated with investor returns. It is evident from the discussion that the investment decision is influenced by the company’s performance and its management. Hence, it is recommended for the company to maintain good corporate governance for the ability to gain and preserve economic capitals necessary for reforming investment in the long term and sustaining growth.
Part 1: Introduction
In the aforementioned case study, it is evident that the tourism department of Australia has hired well efficient and experienced personnel with a proven track record for their Board of Directors. In any successful organization, good corporate governance is the key to effective growth and future development. The framework of practices, rules, and processes needs to be in place for every company, by which it is governed. This makes sure of fairness, transparency and accountability in the relationship it has with its shareholders and to the company itself internally, balancing the company interest with those of the stakeholders be it the shareholders, customers, management, financers, suppliers, government or the community at large. Good governance requires the need of having effective processes in place, and a body to evaluate and appraise on-going performances at regular intervals. The application of this standard at top-level radically helps to improve the holistic functioning and the performance of any organization hereby giving a professional edge (R. Adams, 2010). Therefore, defining and demarcating the various roles and responsibilities along with their working relationship is a must…………