Course Title: Monitor corporate governance activities

Part B: Course Detail

Teaching Period: Term2 2009

Course Code: ACCT5260C

Course Title: Monitor corporate governance activities

School: 650T TAFE Business

Campus: City Campus

Program: C6072 - Advanced Diploma of Accounting

Course Contact : Angelo Sellan

Course Contact Phone: +61 3 9925 5460

Course Contact

Name and Contact Details of All Other Relevant Staff

Diem La. Contact details to be announced.

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites


Course Description

This unit covers the competency to develop and implement processes and procedures for meeting corporate governance obligations.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT604B Monitor corporate governance activities


Determine processes for corporate governance adherence.

Performance Criteria:

2.1. Internal control procedures are analysed and monitored to determine performance indicators for compliance with corporate governance requirements.
2.2. Information technology systems are evaluated to determine their use and suitability for recording data from operations and transactions for corporate governance obligations.
2.3. Management processes to support corporate governance are established.
2.4. Reporting plans are established to ensure completion of compliance requirements within scheduled timeframes.


Examine corporate governance standards and practices.

Performance Criteria:

3.1. Application of and adherence to professional and legal accounting standards is monitored to identify emerging trends and interpretations of statutory and other regulatory requirements.
3.2. Audit reports and practices are researched to assess methodologies and recommendations.


Research corporate governance reporting trends.

Performance Criteria:

1.1. Organisational practices are analysed to identify corporate governance obligations and performance.
1.2. Queries from statutory and other regulatory authorities for corporate governance failure are examined to assess the change effects on internal control procedures.
1.3. Content and structure of reports, returns and processes for review are assessed to evaluate policies being followed by organisation.


Review corporate governance requirements.

Performance Criteria:

4.1. The achievement of performance indicators is assessed and reviewed against key result areas.
4.2. Compliance preparation processes are monitored and reviewed in line with corporate governance requirements.
4.3. Failures in compliance are analysed to diagnose shortcomings and to remedy processes in line with corporate governance requirements.

Learning Outcomes

Details of Learning Activities

Recent corporate collapses and changing social attitudes have shifted the parameters of what is required of companies, in particular companies are expected to develop their own structures and procedures to ensure effective management and acceptable standards of corporate accountability and social responsibility.
By employing a number of activities including lecturing, tutoring, case studies of recent corporate collapses, use of internet, and reference to various relevant web pages, together with practical exercises and assessment, the student will investigate / study the role, function and relevant elements of this dynamic area.

Teaching Schedule

Teaching WeekDateTopic OutlineElementAssessment
1 July 6thIntroduction to the issues / themes / regulatory framework of Corporate Governance. Definitions of corporate governance. Need for corporate governance at a macro and micro level. Elements of corporate governance. 1,2,3,4, 
2 13thCompany failures / failings, recurring themes.
Macro level HIH, Enron, etc. Micro level, failings in risk management and compliance (articles as examples)
3 20thASX Corporate Governance Council’s Corporate Governance Principles & Recommendations.
Principle 7: Recognise and manage risk.
Risk management process. Standard AS/NZS 4360: 2006 Risk Management
4 27thPrinciple 7: Recognise and manage risk.
Risk management process. Types of risk; greater focus on compliance risk. Internal control framework; environmental factors and procedural aspects, applications to governance.
5 Aug 3rdPrinciple 7: Recognise and manage risk.
Risk management process. Types of risk; greater focus on compliance risk. Compliance standard AS 3806 - 2006 and internal control procedures / policies for managing the risks.
 1,2,3,4, Task 1
6 10thNature of companies. Types of companies. Steps / considerations/requirements to register a company in Australia. Replaceable Rules / Company constitution; an important role in the internal governance of any company.
Legislation applicable to companies
7 17thRole of the Board; importance to corporate governance. Directors; Types What constitutes an officer of a company Sec 9 Corporations Act. Eligibility to be director, Disqualification from managing a corporation. 1,2,3,4, 
8 24thCommon assessment week for most courses  Task 2
  31stMid semester break  
9 Sept 7thDirector’s duties: Act bona fide in the interests of the company: Avoid undisclosed conflicts of interest. 1,2,3,4, 
10 14thDirectors duties: Act with reasonable care, skill and diligence, Duty not to trade whilst insolvent. 1,2,3,4, 
11 21stPrinciple 1: Lay solid foundations for management and oversight.
Principle 2: Structure the board to add value.
 1,2,3,4, Presentaion 1
12 28thPrinciple 3: Promote ethical and responsible decision making,
Principles of Ethics
Principle 4: Safeguard integrity in financial reporting.
 1,2,3,4, Task 3
13 Oct 5thPrinciple 5: Make timely and balanced disclosure.
Continuous disclosure requirements
14 12thPrinciple 6: Respect the rights of shareholders & Principle 8: Remunerate fairly and responsibly 1,2,3,4, Task 4
15 19thPresentations  Presentation 2
16 26thCommon assessment week  Test
17 Nov 2ndResubmissions / deferred tests  
18 9thFeedback / Results  

Learning Resources

Prescribed Texts


Other Resources

Gregory E P Shailer, An Introduction to Corporate Governance in Australia 2004. Pearson Education Australia.
John Farrar, Corporate Governance; Theories, Principles & Practice 3rd ed. Oxford University Press.
Alan Trenerry, Principles of Internal Control and Corporate Governance 2009. McGraw Hill.
Phillip Lipton & Abe Herzberg, Understanding Company Law 13th or 14th ed. Thomson Law Book Co.
Woodward, Bird, Sievers. Corporations Law in principle 7th ed. 2005. Thomson Law Book Co

Overview of Assessment

Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.

Assessment Tasks

Four tasks; made up of a series of questions and practical exercises, class time will be provided for task work. These will need to be submitted for "competent" / "not yet competent" grade only.
Two presentations; the first presentation will require students to report on a specific broad ranging legislation, with reference to its; purpose, key compliance issues affecting companies, and potential liability to companies and or others i.e. directors / officers in the event of non compliance. The second presentation will be the culmination of the assignment; students will report on a specific compliance risk, and the corporate governance framework, methodologies, and processes designed to address and effectively monitor that risk. A hard copy report detailing the above will form the core of the assignment and will need to be handed to your instructor on the presentation day.
One final open book test covering all topics. This test represents a hurdle assessment and must be passed in order to pass the course.

Assessment Matrix

Course Overview: Access Course Overview