Accg 871
Q1. Does good Corporate Governance reduce corporate collapses and explain with references to corporate collapses?
Corporate governance is about making good decision for the corporations .A good structure will allow you to ensure that the start-up of your business occurs smoothly, with minimal confusion about responsibilities. As this can have many benefits to your business, it’s worthwhile considering how to implement a corporate governance structure best suited to your business. A collapse involves a major insolvency or bankruptcy of a failure. Such as Medici Bank , Owned by the Medici family, it ran up large debts due to the family's profligate spending, extravagant lifestyle, and failure to control the managers, their bank went insolvent.
A good Corporate Governance can creating and delegating authority so that employees can recognize the decisions that they can and cannot make on their own so that it can reduce corporate collapses in advance .A good corporate governance can also develop clear policies and procedures and managing employees and ensuring accountability . Effective corporate governance structures encourage companies to create value and provide accountability and control systems commensurate with the risks involved. In that way , it can reduce the corporate collapses. Q2. How do both Corporate Governance and Integrated Reporting fit in the Australian Financial Reporting Framework?
According to the Corporate Governance Principles and Recommendations with 2010 Amendments says , Corporate governance is, “the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled in corporations.” It encompasses the mechanisms by which companies, and those in control, are held to account.
An integrated report is a concise communication about how an organization’s strategy, governance, performance and prospects lead to the creation of value over the short, medium and long term . Q3. How well is
Corporate governance is about making good decision for the corporations .A good structure will allow you to ensure that the start-up of your business occurs smoothly, with minimal confusion about responsibilities. As this can have many benefits to your business, it’s worthwhile considering how to implement a corporate governance structure best suited to your business. A collapse involves a major insolvency or bankruptcy of a failure. Such as Medici Bank , Owned by the Medici family, it ran up large debts due to the family's profligate spending, extravagant lifestyle, and failure to control the managers, their bank went insolvent.
A good Corporate Governance can creating and delegating authority so that employees can recognize the decisions that they can and cannot make on their own so that it can reduce corporate collapses in advance .A good corporate governance can also develop clear policies and procedures and managing employees and ensuring accountability . Effective corporate governance structures encourage companies to create value and provide accountability and control systems commensurate with the risks involved. In that way , it can reduce the corporate collapses. Q2. How do both Corporate Governance and Integrated Reporting fit in the Australian Financial Reporting Framework?
According to the Corporate Governance Principles and Recommendations with 2010 Amendments says , Corporate governance is, “the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled in corporations.” It encompasses the mechanisms by which companies, and those in control, are held to account.
An integrated report is a concise communication about how an organization’s strategy, governance, performance and prospects lead to the creation of value over the short, medium and long term . Q3. How well is