FNSACC624 Monitor Corporate Governance Activities

Task 1: History of HIH Insurance.                   
Task 2: Monitor the events leading to the collapse of HIH Insurance. Identify and analyse two breaches of Corporations Act 2001 and two ASX listing rules that HIH did not apply and/or adhere to.
Task 3: Research and Analyse the Audit reports and the management practices of HIH Insurance and identify the areas where there were breach of directors’ duties, rights and responsibilities and provide recommendations on the board composition of the HIH Insurance with reference to the ASX corporate governance principals.                                     
Task 4: Analyse the Internal control procedures of HIH Insurance to determine the financial performance indicators.                                     
Task 5: “The Board of HIH was compromised by the influence of senior management and failed to subject management proposals to sufficient scrutiny” – in context of the above statement, diagnose how did the HIH board fail to comply with responsibilities? What remedies could the board have put in place?  
Task 6: From interview identify five major emerging reporting trends of Corporate Governance Parameters in the Australian financial service sector. You need to include the interview record in appendix.                   
Task 7: Write concluding remarks on the basis of your findings from previous tasks.