Description
I need task 2 only :
- Identify the errors in the policies and procedures of BRB Pty Ltd?
- Analysing corporate governance requirements
a) Identify which are the most suitable principles of corporate governance requirements given by ASX in this given scenario, and then provide a justification for each principle you have identified in order to develop the application of corporate governance requirements, to help the company to prevent such fraud happening again.
b) You have identified the corporate governance requirements for BRB Pty Ltd. Before you take any action, you need to consult with the senior management and board members. You are required to do a role-play to conduct the consultation. You will be playing the role of the auditor and your assessor will be one of the board members.
• Explain the errors that you have identified
• Explain the corporate governance principles that should be applied with reasonable justifications
While consulting with the stakeholders you should:
• Effectively engage others in verbal exchanges
• Use active listening and questioning
• Clarify and convey information
• Act in a professional manner
c) Senior management wants to know the deadline. Complete the Gantt chart provided in Appendix for implementation of the corporate governance requirements that you have identified in section (a).
Write each milestone task beginning with an action verb, e.g. prepare, establish, write etc. Use the shading function under the HOME tab to shade the appropriate fields.
3. Internal controls analysis
a) Review the financial delegations and accountabilities for BRB Pty Ltd. Is the existing system strong enough to maintain internal control? Why or why not?
b) Develop a procedure to modify the existing system of financial delegations and accountabilities. Your plan should ensure consistency and compliance with internal control procedure.
c) How would you implement the suggested changes? Your response should include actions to be taken, person responsible and timeframe.