The paper "Implementing and Maintaining Internal Control Procedures" is an engrossing example of coursework on business. In the corporate world, a company no matter how big or small it is has obligations to follow certain rules and regulations or policies. These rules and policies direct the company’ s operations and they are called corporate governance (Sheikh, Saleem). In this paper, we will be discussing multiple regulations of corporate governance by conducting several case studies on the scenario of Telstra, an Australian global telecommunication company. ASSESSMENT ONE Corporate governance in the past few decades has become a crucial part of any global business environment.
Huge financial crises and backdrops over the years have influenced big companies and stakeholders to opt for more effective governance methods (Sheikh, Saleem). In Australia, Corporate governance has developed over time in an iterative way. Australian companies like Telstra have taken principles-based approaches to corporate governance. In these organizations, corporate governance is a vital tool to improve management and board liability to stakeholders (Steger, Ulrich, and Wolfgang Amann). To determine the relevance of corporate governance requirements with the chosen company, we need to take a look at some of the notable features of corporate governance in Australia.
The corporate governance framework in Australia is based on the importance of stakeholders in a company. It puts the allegations of stakeholders as the first priority of any company. It also talks about the relationship between the Directors and the stakeholders and how it should affect the company. The framework only provides a guideline for companies to follow and build their governance structure around it. ASSESSMENT TWO (PART ONE) Telstra maintains a healthy corporate governance framework.
The organization believes in being committed to excellence in transparency, corporate governance, and accountability. At the top of their governance chain is The Board of directors. The Board is responsible for managing the organization’ s business activities, taking major financial decisions and they are also accountable to the stakeholders (Sheikh, Saleem).
Sheikh, Saleem. Corporate Governance & Corporate Control. 5th ed., London, England, Taylor & Francis, 2012,
Steger, Ulrich, and Wolfgang Amann. Corporate Governance. 1st ed., Chichester, England, John Wiley & Sons, 2010,
Xin, Wei. "Telstra Corporate Governance And New Policy". Journal Of Finance And Accounting, vol 3, no. 5, 2015, p. 150. Science Publishing Group, doi:10.11648/j.jfa.20150305.16.