Table of Contents

Introduction to the corporate governance ............................................................................................. 2

Body of the assignment .......................................................................................................................... 2
Key Complexities & issues stated in the 4th Edition ................................................................................ 2
Recommendations for the company as per case study .......................................................................... 4
Listing in other country ........................................................................................................................... 5
References .............................................................................................................................................. 5
Introduction to the corporate governance
The term corporate governance aims in providing a clear and concise framework of the rules
and regulation which is mainly exercised by the organisation in order to perform their activities.
The corporate governance intends to provide a clear framework which intends to consist of the
explicit and implicit contracts between the organisation and the various stakeholders associated
with the business for the purpose of distribution of the clear responsibilities and rewards, it also
states the procedure for reconciling the conflict of interest of different stakeholders in
accordance with the duties and privileges and procedures for clear supervision and information
flow to serve the system of checks and balances. The corporate governance always intends to
provide more confidence to the investors which is mainly stated as the key considerations for
all the business enterprises. It is noted that there was a recent update to the corporate
governance policy which was implemented in February 2019, the report also states that the
companies need to focus in implementing them by January 2020.

Body of the assignment

Key Complexities & issues stated in the 4th Edition

The first update which has been stated in the revised edition of the corporate governance is
related to the recommendations of 3.3 which is related to whistle blower policy. It is noted that
the listed entity need to
Posses and disclose a clear whistle blower policy and
Tend to ensure that the board or the committee is mainly informed for any material incidents
that needs to be updated to the policy need to be also stated.
In most of the cases, the clear source of data and information intend to state whether a listed
entity is mainly to living up to the values of the employees. Hence, the company need to
encourage its employees to speak up about any unlawful or unethical aspects in the company,
the employees may also intend to state any irresponsible behaviour within the organisation
through the application of appropriate policy. The board or the committee need to be informed
of any material incidents which is being reported under the given policy, this provides a clear
indicative of the fact that the organisation is always focused to provide a clear and cooperative
culture.
The next focus of the update is in the recommendation 4.3 which enables the organisation to
provide a clear and concise disclose on the overall process so as to state the integrity on the
report which is not audited or not approved by the auditors. The company tends to present
various reports to the stakeholders which covers sustainability report, other reports which does
not require auditor approval or review etc. As per the update in the fourth edition the company
need to take ownership in disclosing the process so as to verify the overall integrity of the
periodic reports.

It should be noted that the recommendations is mainly focuses on the reports which is not
reviewed by the auditors, this is considered as highly important and critical as the investor and
other stakeholders looks at the various reports which are publishes by the legal entity for taking
informed decision making pertaining to investments, supply of information and materials etc.
The management need to take complete ownership while publishing the data and informations
which are not audited, for example many organisation present in detail the corporate
sustainability report which provides more information on the management ability to care for
the environment and society, these reports are not fully audited. Hence, it is the responsibility
of the management to take steps in owning the responsibility on the authenticity of the report
and provide the needed information to all the stakeholders.
Recommendations for the company as per case study

The company which is considered for the analysis Myer Holdings Limited, this section
considers in analysing the recommendations which the management need to implement in
fulfilling the recommendations as specified by the corporate governance council.
As per the 4G – Key to disclosures of the company report it is noted that company does not
currently have any policies pertaining to the whistle blower policies hence the management
need to implement these aspects in the organisational policies and procedures. The company
need to focus in clearly identifying the key concerns which may tend to report under the policy,
the management need to specify on how much and what reports which needs to be made which
will include the senior executives of the company and board.
The management need to focus on the overall confidentiality of the whistleblower policy and
provide safeguarding of the employees, the individuals needs to be protect from various issues
which is related to the retaliation or victimisation of the individuals who are covered under this
policy. The management need to consider in offering utmost protection to the individuals and
needs to offer the required assistance at all times. The company should provide a clear outline
on the overall process which needs to follow up and investigate the reports which is made under
this policy. The company should also involve in providing a comprehensive training of the
employees related to the policy as prescribed by the corporate governance policy and also
involve in protecting the different rights and obligations. The management can also offer the
required training to the managers which will enable them to protect their employees at all times
and also involve in offering the required knowledge to their subordinates at all times. Also, the
company need to state the policy which needs to be reviewed on a periodical basis, enable to
check whether such policies are operating in a more efficient manner and need to understand
if it requires any further changes to the policy.
(Myer, 2018)

The next step is to implement the recommendation. It is recommended that registered

organizations present the process of verifying the overall integrity of the periodic institutional
report published on the market, which is not reviewed or reviewed by the auditor. It should be
noted that investors are mainly based on a broad spectrum of business reports that are reviewed
and revised mainly in the context of financial statements that update investment decisions. This
typically includes management reports, quarterly reports, quarterly payment reports, and other
integrated reports that are mainly prepared and presented in annual reports and sustainability
reports. activity. new version of corporate governance. (Alexandre, 2017)
If these reports are not reviewed or generally not audited by external auditors, it is extremely
important that the investor understands the process through which the company ensures that
the report is accurate. and contained no forgery or other data. information. It also enables
investors to use this information to make informed decisions, understand business practices
and invest money in the company. Management focuses more on reporting, ie management
information in the annual report on the company's website.

Listing in other country

The Board is committed to optimizing performance, generating sufficient capital and economic
growth and supporting the growth and success of Myer and Myer brands. To achieve these
goals, the Board ensures that Myer can effectively manage and protect shareholders' interests
and that Myer, senior executives, employees and employees work in the right corporate
management environment. As a result, the Board of Directors has adopted guidelines and
practices for corporate governance to promote Myer's leadership and behavior. The Myer Code
of Conduct says Myer expects leaders and employees to behave and act more than once. The
code requires special knowledge and compliance with laws and regulations that govern Myer's
activities, such as occupational health and safety, fair trade, confidentiality and employment
practices. (ASX, 2019)
Myer strives to maintain the highest standards for ethical behavior in conducting business and
managing customers, shareholders, governments, employees, suppliers and society. As for the
management of others, the company must: perform its tasks professionally, act fairly and
objectively, and always protect Myer's reputation and performance. A gift, host, or brand that
affects or affects your behavior or makes decisions as a member of the Myer Group, which
may be a crime, can be considered a secret commission. The documents constituting these
documents constitute a direct violation of this Code and its working conditions are followed
by an immediate disciplinary procedure. A free or fun gift can be considered a bribe. Read and
learn about the Myer Awards and the rules available at Myer Intranet. This provides more
detailed information on receiving gifts, advice, hospitality and / or entertainment. Myer is
committed to providing a safe and healthy work environment for team members, whether they
are at work or at work. (Myer, 2018). All relevant national laws and policies (including health
and safety laws) must be fully respected. Everyone has a duty to help with this. Misuse of
controlled substances or alcohol, as well as the sale, production, distribution, possession, use
or consumption of illegal drugs at work or business events is unacceptable. Myer
communicates and implements its health and safety policy and procedures in accordance with
applicable laws and regulations. Team members work efficiently and safely.

References
Alexander, D. Britton, A., et al., (2017) International financial reporting and analysis. 7th ed.
London: Cengage. ISBN 978-1-473-72545-4
ASX Corporate Governance. (2019). Corporate Governance Principles and Recommendations
4th Edition. Retrieved from: https://www.asx.com.au/documents/regulation/cgc-principles-
and-recommendations-fourth-edn.pdf
Bekaert, G. J., & Hodrick, R.J., (2016), International Financial Management, 2nd Ed., Pearson,
London. ISBN-10: 129202139X (also available as e-book)
Corporate governance (2018). Corporate governance of Myer. Retrieved from:
https://www.asx.com.au/asxpdf/20181025/pdf/43zlm1n86nl6th.pdf
Myer. (2018). Code of Conduct. Retrieved from: http://investor.myer.com.au/Corporate-
Governance/?page=Corporate-Governance-Statement---Policies
Ward, A. M. (2014) Finance: theory and practice. 3rd ed. Dublin: Chartered Accountants
Ireland. ISBN 978-1-908199-48-5