Internal Control Essay Example for Free

Internal Control Essay perplexity 1a) Select two companies where inadequate internal control become resulted in disastrous cause on the organisation or exposed it to heavy losses.Research the facts of the failure and proclaim on the facts and the losses suffered. In your report, include suggestions for changes to operations (internal controls) that could have prevented the final outcome. Where could you find a list of these internal controls and how be they documented?Examples of companies includeColes Myer Ltd and the Yannon affairBarings Bank (1995)AWA Case (1992)Integral Energy (2003)Australian Museum-theft of zoological specimens (2003) nautilus Resources (2011)Each report should be about no longer than 1 page in length. twain reports required.b) Select two companies that have experienced recent corporate governance failures.Research the facts of the failure and report on the facts and the losses suffered. In your report, give suggestions on the integrated Governance principles that should be implemented and that could have prevented the failure.Examples of companies includeABC Learning (2008)Storm Financial (2009)Strathfield (2009)One-TelHIHIndependent Insurance (UK)Commander Communications (2008)EzyDVD (2009)Clive Peters beech HomesAustralian Discount Retail (Crazy Clarks, Go-Lo, Sams Warehouse) (2009) Queensland wellness Department (2011)Parmalat (Italy)Each report should be about no longer than 1 page in length. Two reports required. inquire 2a) In your own words explain Internal Control within an organisation, and state the major objectives of a dust of internal control to management?b) List and briefly explain the five components of an entitys internal control structure.Question 3a) Define Corporate Governance and its application in the corporate world and discuss the train for Corporate Governance.b) Look up the Annual Reports for two of the following companies and comment on the appearance, structure, content, and usefulness of the Co rporate Governance and Sustainability section of the report. How does it meet the current principles of Corporate Governance?Companies includeBanks ANZ, CBA, NAB, Westpac, BendigoResources BHP, RIO Tinto, Woodside, SantosFinancial services Macquarie Group, Perpetual, QBEHealth care Sonic, Resmed, CSLRetail Woolworths, Wesfarmers, Metcash, Harvey NormanProperty Centro, Stockland, Westfield Property Trust, WRTFamily business Westfield, Harvey Norman, News CorporationInteresting Fairfax, pile Hardie, Qantas, TelstraYour report should be about no longer than 1 page in length. Two reports required.