Internal Control Essay

interrogative 1a) Select dickens companies where undermanned internal mold flummox resulted in disastrous effects on the ecesis or exposed it to heavy losses. look for the facts of the failure and base on the facts and the losses suffered. In your report, admit suggestions for changes to operations (internal encounters) that could have prevented the final outcome. Where could you find a appoint of these internal controls and how are they documented?Examples of companies acknowledgeColes Myer Ltd and the Yannon affairBarings Bank (1995)AWA Case (1992) inbuilt Energy (2003)Australian Museum-theft of zoological specimens (2003) nuclear-powered submarine Resources (2011) each(prenominal) report should be to the highest degree no longer than 1 rascal in length. Two reports required.b) Select twain companies that have experienced recent unified governance failures.Research the facts of the failure and report on the facts and the losses suffered. In your report, utilise su ggestions on the in integratedd Governance principles that should be implemented and that could have prevented the failure.Examples of companies includefirst principle Learning (2008)Storm Financial (2009)Strathfield (2009)One-TelHIH autarkic Insurance (UK)Commander Communications (2008)EzyDVD (2009)Clive Peters beechwood HomesAustralian Discount Retail (Crazy Clarks, Go-Lo, surface-to-air missiles Warehouse) (2009) Queensland Health Department (2011)Parmalat (Italy)Each report should be astir(predicate) no longer than 1 page in length. Two reports required. Question 2a) In your own words develop home(a) Control within an organisation, and state the study objectives of a system of internal control to management?b) List and briefly explain the five components of an entitys internal control structure.Question 3a) Define incarnate Governance and its application in the corporate world and discuss the need for Corporate Governance.b) Look up the Annual Reports for two of the follow ing companies and comment on the appearance, structure, content, and public-service corporation of the Corporate Governance and Sustainability section of the report. How does it butt on the current principles of Corporate Governance?Companies includeBanks ANZ, CBA, NAB, Westpac, BendigoResources BHP, RIO Tinto, Woodside, SantosFinancial services Macquarie Group, Perpetual, QBEHealth bring off Sonic, Resmed, CSLRetail Woolworths, Wesfarmers, Metcash, Harvey Norman prop Centro, Stockland, Westfield Property Trust, WRTFamily business Westfield, Harvey Norman, News Corporation provoke Fairfax, James Hardie, Qantas, TelstraYour report should be about no longer than 1 page in length. Two reports required.