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Accounting Assignment Question
Part 1: Case Study:
“One is a token, two is a presence, three is a voice. Sound familiar? This seems to be the effect of placing women on corporate boards. Although corporate leaders may think otherwise, academic research seems to find this effect again and again. In Australia, women hold 14.2 per cent of board chairs, 23.6 per cent of directorships, and 15.4 percent of CEO roles. In recent months, the Australian Institute of Company Directors (AICD) and the Business Council of Australia (BCA) have called for greater gender diversity in Australian boards. There was an attempt by senator Nick Xenophon to legislate gender diversity in Australian government boards; however, the bill was later rejected by a government-controlled Senate Committee. The AICD has set a target of 30 percent female board members and urged S&P / ASX 200 firms to meet the target by the end of 2018’. Reza Monem, “Three women is not a crowd on a company board’, The Australian Financial Review, Friday 22 April 2016, p.35
Assume you have been employed as a corporate governance consultant by a company listed on the Australian Stock Exchange and ranked within the ASX 200. The Chairman of the company has decided to address the issue of gender diversity on the company’s board to ensure the board meets the AICD target by the end of 2018. As an initial step in the process of increasing the gender diversity of the board the Chairman has employed you to prepare a report that critically analyses and assesses the evidence that gender diversity on a company board is associated with improved business performance and also provide recommendations on how the company should initiate a gender diversity policy for the board. Your report will be tabled at the next board meeting for board members to review and evaluate your recommendations.
Part 2: Case Study:
Seven people have been sacked following that disclosure and former Target CEO Stuart Machin has left Westfarmers while denying all knowledge of what happened. In the CommInsure case, chief medical officer Benjamin Koh claimed doctors were pressured to change medical reports, patient’s files were deleted and claims delayed as part of a strategy to avoid policy pay-outs. Koh lost his job for breaching CBA’s IT policy relating to taking client files home. But at this stage it would appear his actions have been vindicated given that CBA chief executive Ian Narev has apologised for what happened’. Tony Boyd ‘ASIC backs whistleblower project’, The Australia Financial Review, Friday 15 April 2016.
Assume you have been employed as a corporate governance consultant by the Australian Shareholders Association (ASA). The ASA is concerned with the risks associated with investments in corporations that do not have a ‘best practice’ whistleblower policy. In order to minimise this risk the ASA wants to know what are the best-practice contemporary standards for whistleblower policies. Your assignment is to prepare a report to be published on the ASA web site recommending best-practice whistleblower policy for adoption by listed companies on the Australian stock exchange.
Accounting Assignment Solution
Gender diversity as an essential element of corporate leadership is gaining much importance across economies (Dezso & Ross, 2012) . Most of the legislative initiatives across the world are focused on increasing female representations in senior management positions and board membership. Most of the academicians and economic planners stress on the importance of having women as they are believed to add new viewpoints, value system, different risk appetites and social preferences. This report analyzes evidences from around the world on how gender diversity contributes to increased company performance. Lastly, the report gives recommendations for a typical company within ASX 200 for improving female representation on the company board…………………….