Hi guys, I have no ideas to start for this question Anyone can help me ASAP,pls?

Question

Hi guys,

I have no ideas to start for this question

Anyone can help me ASAP,pls? My due day is in the morning tommorrow

I need to write 450 words

Thanks guys

Your employer is an Australian financial corporation. You have been asked to write a business report on the role of ethics in corporate governance. Your report should be supported by appropriate academic research and must include an analysis of recent news regarding AMP and its relationship with the corporate regulator.

AMP is a financial services company in Australia and New Zealand providing superannuation and investment products, insurance, financial advice and banking products including home loans and savings accounts.

The inquiry was told that advisers at AMP misappropriated funds of thousands of clients over the last decade by charging them without providing advice, and that it had repeatedly lied to the Australian Securities and Investments Commission (ASIC).

Counsel assisting the inquiry said on Friday that AMP had breached provisions of the Corporations Act that carry criminal sanctions.

Brenner, Salter and Meller were singled out by the inquiry as part of a group of senior executives that allegedly modified a report by law firm Clayton Utz and submitted it to the regulator in late 2017 as “external and independent”.

Their intention was to limit the report’s findings about the involvement of AMP’s senior executives in misappropriating customer fees, the inquiry heard.

AMP said in its statement that Brenner, Meller and the other directors “did not act inappropriately in relation to the preparation of the Clayton Utz report”.

Explanation / Answer

Ethics in business put into simple terms refers to abiding by the principles of integrity and honesty in the conduct of business operations. Corporate governance is the sum total of rules, practices and systems through which a firm is directed and controlled. Corporate governance must ideally strike a healthy balance with the interest of the company and its stakeholders namely its shareholders, management, government, suppliers, etc. A trusted relationship must be maintained by the company with the professional regulators. The company and those charged with governance must ensure that the company adheres to all legal and regulatory requirements of the country in which it operates and must ensure that no regulatory actions are taken against the company for any misconduct in its operations. In the case of AMP, the management of the company allegedly forged the report and findings of the external law firm- Clayton Utz and submitted a false report to the regulatory authorities claiming it to be external and independent. This calls for a serious breach in the ethical conduct of a business which undermines the integrity and professional conduct of the business. The company must stay true and honest to its shareholders and other stakeholders including the government and take necessary steps in the promotion of accountability, fairness and transparence in the conduct of its operations at all times. An ideal Corporate governanance structure must lay down the roles of all its participants including the rights and responsibilities governing the different individuals in the organization like the board of directors, CEO, CFO, other stakeholders, etc. The corporate governance structure should lay down the procedures and rules for decision making. There must be systems and checks put in place to tackle conflicts of interest between the various stakeholders in the organization. The ethical guidance structure and legal regulations facilitate in binding the structure of corporate governance more effectively in yielding better results. Another aspect in maintaining good governance is the conduct of operations abiding with the legal and regulatory framework of the country in which a business operates. In the case of AMP for instance, there has been a serious breach in the provisions of the corporation Act and other regulations put in place by the competent authorities which call for serious misconduct and lack of ethical conduct and thereby nullifying the effective corporate governance structure laid down in the organization. Additionally, AMP have seriously misappropriated the funds of its clientele and have given false reports and information to the Australian Securities and Investments Commission (ASIC) which will intensify the complication of the misconduct even further. An effective corporate governance structure within an organization bound by the principles of ethical code of conduct will harmoniously lead to better operations of the company and sustained growth.

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