The Ethics Of The Executive Officer Of Citibank Essay

Leadership has been directed by the ethical beliefs and values. It has been found that the dignity and right of the employees have been expressed by the ethics of leaderships. In this assignment the chosen organization for study is Citibank. Citibank was started in the year of 1812 at New York City. They started their business in New Zealand in 1902. It has been observed that Citibank has developed their code of ethics and the management has taken the help the code of ethics to control the functions. 1. Ethical leadership and culture: 1.1 Ethical philosophy: The various management departments such as operation management, human resource management and project management has implemented the decisions, programs and policies after evaluating the guidelines of the ethical policies of the organization. It has been observed that the Chief Executive Officer of Citibank has claimed that the organization has maintained the highest possible standard to gain the trust of its employees. It has been observed that leaders have maintained strong cultural ethics and responsibility in the workplace. The leaders have develop an ethical culture and set a new value proposition. It has been noticed that leaders of Citibank has implemented the case based training session for the employees and created an informative ethics content from the leaders. The ethics of the organization has been formed from the combination of interests and different backgrounds. The ethics have been developed on aShow MoreRelatedMarketing Analysis : Citi s Mission812 Words   |  4 Pagesis a key factor driving Citi’s ‘customer-centric’ business model. The practice of responsible financing and ethics within Citi is taken extremely seriously and rewards transparency and intelligent risk taking. RISK ORGANIZATION Risk management is an integral part of Citi. The planning process is an independent control function within Franchise Risk and Strategy. Citi’s Chief Risk Officer oversees the process, with further oversight from the Risk Management Committee of the Citi group Board of DirectorsRead MoreCareer And Company Analysis : Wells Fargo1284 Words   |  6 Pagesorganizational structure the executive officers, nine to be exact. Some of these include CEO John G. Stumpf, Timothy J. Sloan President and Chief Operating Officer, and John R. Shrewsberry Senior EVP and Chief Financial officer. Then there is also the board of directors. The business of the company is managed under the board of directors. The board delegates the conduct of business, the company’s officers, employees, and managers under the discretion of the Chief Executive Officer. It has more of a flatRead MoreEnron s Impact On Enron1554 Words   |  7 Pagessteel, petrochemicals and waste water to name a few (Fusaro, 2000, p. 157). From the time they merged to form Enron up to the point of their collapse, Enron’s executive committee had squandered many of the company’s assets through bad strategies, hiding money, and creating an illusion of a stable financial company. Most of the top executives overstated Enron’s earnings by several million dollars (Niskanen, 2005) causing the company’s stockholders to lose millions of dollars. Kenneth Lay who joinedRead More Industrial Psychology Essay8415 Words   |  34 Pagescompanies in order to view their prevalence in different industries. Following are the companies that have been chosen to conduct a research in relation to industrial psychology and are stated as follows, ol li value=1 Mobilink li value=2 Citibank li value=3 Unilever li value=4 Gillette /ol On the following pages we will deal with all these companies one by one by identifying the major aspects of the application of industrial psychology and how these make the progress of theseRead MoreChapter 9: Behavioral and Organizational Issues in Management Accounting and Control Systems16548 Words   |  67 Pagesorganization’s values and code of ethics. A clear statement of the employee’s ethical responsibilities for every job description and a specific review of the employee’s ethical performance as part of every performance review. Adequate training to help employees identify ethical dilemmas in practice and learn how to deal with the dilemmas. Compelling evidence that senior management expects organization members to adhere to its code of ethics. This means that managementRead MoreEnron Case7190 Words   |  29 PagesThe Enron Accounting Scandal Presented By: Jennifer Buondonno Nirmala David Robert Pufky Matt Rollings ENRON Page 1 of 27 Table of Contents Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 (I) Introduction to the Enron case and the organizations involved†¦Ã¢â‚¬ ¦. 5 Background information industry†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 Organizations and officers involved†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..6 Accounting firm and partners involved†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.8 Enron’s industry†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 9 Enron’s injured parties†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreSocial Entrepreneurship and Venture Capital2516 Words   |  11 Pagesorganizations dedicated to preserving the world s environment, likewise, social and world wide issues such as AIDS, poverty and terrorism have led to more organizations being created to help combat these issues. Corporate scandals and run away executive compensation have given businesses focusing on philanthropic endeavors more media prominence as the good guys, which has raised the public s imagination and support. There is growing pressure for corporations to focus on their social impactRead MoreCross Cultural Management Research6745 Words   |  27 Pagesraise issues concerning business standards and ethics. (Xerox Corporation, pg. 1, 2009). Xerox Company is more than 80% independent in support of the Board of Directors. Xerox requires that all employees and Board of Directors read and understand the company’s policy. Xerox describes conflict of interest, corporate opportunities, confidentiality, protection and proper use of Company Assets, fair dealing, waivers of code of Business Conduct and Ethics, Encouraging the Reporting of any Illegal orRead MoreEnron Ethical Issue8130 Words   |  33 PagesThis was win-win contract which leads to Enron find new long-term suppliers. 2.0 Literature review: 2. 1 Accounting failure concept: Accounting failure or accounting scandals occur with the disclosure of malfunction which happened by trusted executive managers or top manager in a public or private company. Malfunctions can be includes overestimating the revenue, overestimating the value of company assets, intricate methods for misleading funds, concealing the liabilities, which had done by topRead MoreIntroduction to Organization Study7959 Words   |  32 Pagesemployee and employer relationship and co-ordination. To show up the different product range of AMEX. To know the overall development of AMEX. Methodology: Conducting personal interview with all the functional manager departmental head and sales executives. Collect the various data required to the study. Manuals and reports of the company constituted the source of secondary data. Limitation: The following limitation of this internship report: ï‚ · ï‚ · ï‚ · ï‚ · The study is limited to the study of whole

Brains vs Beauty Free Essays

In the Tales from the Thousand and One Nights the women are represented as fraudulent, cunning characters using their sexuality to their benefit. Some of these women are portrayed as deceitful harlots, while others honestly use their sly wits and beauty to their advantage to obtain what they desire. In the time of the Tales, female sexuality was prevalent, so it’s not absurd to read about all the infidelity and sexuality in these stories; however it is interesting to see how each female character uses that to her benefit. We will write a custom essay sample on Brains vs Beauty or any similar topic only for you Order Now Some women show to be evil minded while others have good intentions. Throughout the Tales from the Thousand and One Nights, there are different stories that Shahrazad tells, depicting the women in different manners. Some women were represented as deceitful whores, such as the wives of the kings in the Prologue of the Tales, others used their wit and knowledge to gain their desire, for example, Shahrazad, the story teller of the book. Shahrazad uses these women as examples to show King Shahriyar and his brother, Shahzaman that not all women are untrustworthy.They just know how to use what they have sexually and intellectually to gain control of a situation. By sexually, I don’t mean throwing themselves at different men; men are weak and will easily fall for anything a woman says if he thinks he will â€Å"benefit† from it. In â€Å"The Tale of King Shahriyar and his Brother Shahzaman† the two kings find out that their wives were frolicking about having affairs with different men. This is in the Prologue of the Tales, the two kings went on an expedition and ran into a woman, who happened to be the wife of a Jinnee, she threatened the brothers to please her or she shall wake the Jinnee.Once the fowl woman was done using the kings for her pleasure, she proceeded to pull out a string with ninety-eight rings on it. Each ring represented a man she had slept with. The kings were astonished but at the same time relieved, â€Å"If such a thing could happen to a mighty Jinnee, then our misfortune is light indeed†(19). In the beginning stories, women look like they are the villains in the book, because they portray themselves to be indecent harlots. The kings at this point come to the conclusion that all women are they same, so they devise a plan to be with a virgin every night and kill her the next morning.The brothers will never feel the pain of a broken heart again. Sexual fidelity has always been the core social concern. Some of these tales prove that to be true. The kings refuse to let that happen to them again, so they come up with this plan. So as one can see, the women so far in the Tales hold a bad reputation, until King Shahriyar met the Vizier’s daughter, Shahrazad. Shahrazad, is also the storyteller of the Tales she begs her father to let her marry the king despite the fact that he wishes to kill her in the morning. She was very confident that she could sway the king’s decision of her dooming death.She devised a plan with her sister in high hopes that it will save her life. Shahrazad was going to ask for her sister, Dunyazad to bid her a farewell, and she was to ask Shahrazad to tell a â€Å"tale of marvel, so that the night may pass pleasantly†(23). The king agreed. In this story Shahrazad proves to use her wit to her advantage, although she knows that her death is possibly near she shows strength and confidence. She knows that if she can pull this off, not only will she save her own life and the life of any other of the kings victims, but also she will be made the wife of the king.She cunningly uses her knowledge to prolong her death. Shahrazad presents a number of representations of women throughout the stories in the Tales and does not rely on the stereotype presented at the beginning of the book when all women are perceived as harlots. In the story, â€Å"The Woman and Her Five Lovers† a young woman falls in love with young man who gets into a brawl and is imprisoned. The woman is distraught and thinks of a plan to free her lover. She goes to five men to help her achieve her goal. She goes to the Governor, the Vizier, the Cadi, and the King asking them to sign a petition to free her lover. Instead of telling them that he is her husband, she tells them that he is her brother and her sole support. The four men are so at awe with her beauty and sexual demeanor that they agree, but only if they can have her for one night. She convinces these men to meet her at her house, â€Å"it is more fitting that I should wait for you at my house, were there are neither slaves nor maidservants to intrude upon our privacy†(107). She then goes to a carpenter and asks him to build a cupboard of four large compartments, he said he’d do it with honor and free of charge if she would give him one night to himself.The sly woman agreed and in the midst of leaving told the carpenter she forgot she needed five cupboards, not four. The carpenter did as she ordered. One by one the men started to show at her house, she greeted each man kissing the ground before him and saying slick remarks such as, â€Å"first take of your clothes and your turban. You will be much more comfortable in this light robe and bonnet†(109). Not soon after there’d be a knock at the door, the woman would tell the men to quickly jump into the cupboard because that was her husband at the door.They all ended up in the cupboard, but the woman made sure to have all petitions signed so that her husband could be freed. Once the men were locked up, she rescued her lover. In this specific story, Shahrazad showed the King that not all women are unfaithful. She did use her sexuality to her benefit to connive these men into her ultimate goal, to free her lover. She used her wit just as Shahrazad had. This particular character in the book goes against the perception in the beginning of the Tales that all women are unfaithful.She might have been wrong per se because she deceived the five men, but she did it for her lover, which in turn, makes her a heroine in her lover’s eyes. The idiocy of the men to fall for her seductive demeanor leads them to an unpleasurable stay locked in a cupboard. In the times the Tales were told in, it was the norm for woman to be seductive, women knew that they had an advantage because men are weak when it comes to the desire of a beautiful lady. So in these tales, it is not unusual to read stories of such perversity.Some of the women used their sexuality as a tool for their own pleasure, while others respected their lover and bodies and used their brains to obtain their ultimate goal. These were the wise women of the stories. Most of the other women who were caught being unfaithful were killed, which again was routine punishment for their deceit. The women who used their brains over their bodies were rewarded with respect and love. Ultimately, Shahrazad, through her lessons in the form of stories, she depicts women as not simply whores and tricksters, but as capable of wit, intelligence, and much more beyond sex and infidelity. How to cite Brains vs Beauty, Papers

Accounting Theory and Governance for Knowledge - myassignmenthelp

Question: Discuss about theAccounting Theory and Governance for Financial Knowledge. Answer: Introduction Financial knowledge has been a must in order to take the review of the company financial performance. As the investors it is not possible to review the whole business performance and to take decisions to invest in the various choices of investment options. In this regards Australia Securities and Investment Commission (ASIC) has provided 10 major points that every investors need to undertake before making the decision to invest in any company. All these points help investors to analyze the performance of the company and to come with the proper choice. All these points are defined in detail and are really helpful for the investors. In this report in order to explain all these points a case study 1 has been undertaken and various questions to case study has been answered. For case study company called Wesfarmers has been taken to explain the case study questions. Executive remuneration is always the concern for the stakeholders as their pay increase year to year even in the situation of financial crises. In order to explain the reform undertaken to make changes on how the remuneration of the top management has to be calculated, the case study 2 has been taken and various questions has been answered. Summary of Case Studies Case Study 1: This study provides the 10 major points that every investors must review in context of any company chosen for investment purpose before making the decision of investment. In this regard Wesfarmers has been selected to explain the procedure. Case Study 2: This study discusses the issues with the excessive executive remuneration in the United States and reforms to make changes in the calculation of the executive remuneration. Analysis of Annual Report (Company Name: Wesfarmers) Examining figures in financial statements The financial statements developed by an entity aims to reflects its financial performance for supporting the decision-making of end-users. In this context, the ASIC (Australian Securities Investment Commission) has provided suggestions to the non-professional investors for evaluating the financial performance of a company through its financial statements analysis. The suggestions are provided on ASIC for protecting the interests of investors so that accurately interprets the financial information for making informed decisions for investing (Australia, 2011). The financial performance of Wesfarmers Limited, Australian retail giant, can be based from the financial statements net figures of income statement and balance sheet as per ASIC guidelines. The income statement analysis has depicted that the company has recorded a net increase in its profit in the year 2017 as compared to the financial year 2016. The underlying net profit has increased to 22.1 per cent in the year 2017 and has reached to $2,873 million. The earnings per share have increased to 21.6 per cent and return on equity has reported an increase to about 12.4 per cent in the year 2017 as compared to the previous financial year. The increased profitability of the company has resulted in raising the dividend per year from $1.86 per share to $2.23 per share in the year 2017 (Wesfarmers 2017: Annual Report). The increased cash inflow of the company on account of its improved return on capital has helped in to expand its business operations. As reflected from the directors report of the company, its improved financial performance has resulted from its recent conglomerate structure. The company is presently emphasizing on its strategy of providing improved return to shareholders through realizing larger returns form its industrial businesses in Kmart and Bunnings. Important Financial Figures in Understanding the Financial Performance of the Company As analyzed from the case study, the ASIC has regarded the financial figures disclosed in the directors report in order to gain an insight into the profit or loss realized by a company. The directors of Wesfarmers have also discussed the financial performance of the company in the annual report through the help of some key financial figures (Hussey and Ong, 2005). The financial figures include profit after tax, earnings per share, return on equity and dividend per share. The financial figure relating to profit after tax depicts to the investors regarding the percentage of money earned on per dollar of revenue. The investors can gain an insight into the net profit realized by a company after meeting its all tax related expenditure. It enables the investors to analyze the profitability of a company without the impact of operating leverage thus the investors can actually predict its real financial condition. The earnings per share depict the amount of money earned by a company per ever y outstanding share of stock. It helps the investors to predict the financial profits that a company can provide to its shareholders. The return on equity provides a measure of the profitability of a company in comparison to the net investment (Wesfarmers 2017: Annual Report). The dividend per share of a company indicates the profits earned by the shareholders giants the number of outstanding shares. The key financial figures predicting the financial performance of Wesfarmers Limited can be depicted from its annual report are as follows: Source: https://www.wesfarmers.com.au/docs/default-source/default-document-library/2017-annual-report.pdf?sfvrsn=0 Management Opinion in the Report about the Financial Figures The operating and financial review presented by the Directors in the annual report the primary objective of the company is to provide good returns to its shareholders. The company aims to achieve strong financial performance in each of its divisional units that will be controlled by the divisional board of directors. The operating and financial review of the company has outlined the major risks and future growth prospects of the company as well based on its key financial figures. The financial performance of the year 2017 has represented the profitability of each of its divisional unit along with providing an analysis of its competitive environment through assessing the financial risk and prospects. The company recorded a net profit after tax (NPAT) of about 2,873 million in the financial year 2017 as compared to that of $1,946 million in the year 2016. Thus, it can be said that there is significant increase of $2,466 million in the current financial year of the company in net profit after tax. The cash flows have also increased from $861 million to $4,226 million in the year 2017 (Wesfarmers 2017: Annual Report). The increase in operational cash inflows indicates the higher earnings growth and adequate managing and controlling of each inventory in all of its retail segments. There is also a decrease in the capital expenditure of the company in the year 2017 to $218 million as compared to $1,681 million in the year 2016. As per the directors review, the decrease in the capital expenditure is due to fewer openings of its retail stores and thus reduction in the operational expenditure across its industrial divisions. The company also has realized proceeds of about $947 million due to divestment of receivables from its Coles divisional unit. The balance sheet of the company has also strengthened mainly due to reduction in the net financial debt that includes interest rate swap assets to about $4,321 million in year 2017 as compared to $2,216 million in the year 2016. Also, there is a significant reduction in the financial cost of the company to about 14.3 per cent from that of the previous year. The management of the company has regarded the increase in its operating cash flows and return on equity on account of its adequate conglomerate structure and its emphasis on improving the cash generation and capital efficiency (Wesfarmers 2017: Annual Report). Assessment of Financial Report in relation to Management Opinion Management has elaborated the financial performance of the company through using the graphs and charts. As per the ASIC reports it is essential to examine the management viewpoint on the performance of the company and what actually has been reported in the financial statements prepared. For instance, the management of the Wesfarmers has point that the in the current year (2016-17) the profitability performance of the company has been increased and they are paying good returns to their shareholders. There is high amount of increase in the revenue of the company due to improvements made in retail and industrial business. It has been told by the managing director that cash generation was quite strong that reflects the company value to increase the return on capital invested in the business. Finance director has elaborated the operating financial position of the different units in the Wesfarmers and according to the report the net profit after tax has been $2873 million AUD which itself a record for the company (Dagwell, Wines and Lambert, 2015). On reinvestigating whole financial statements it has been found that there are no such discrepancies in the management disclosures of the financial performance and that reported under the audited financial statements. So it can be said that there is no change in the financial performance as reported by the management personals and as described in the financial statements of the company. There is major reason behind similarity of management disclosure and what has been disclosed by the audited reports of the company (Wesfarmers 2017: Annual Report). The reason is such that annual reports are prepared after financial statements have been audited and verified by the top management. Top management people provide their statements on the financial performance of the company after reviewing the audited reports of the financial statements so that true and fair picture of the financial statements can be presented in front of the us ers of the annual report (Henderson, 2015). Analysis of the Wesfarmers as the potential investment In order to analyze the company for its potential investment it is necessary to make the detailed interpretation of the financial performance so that investors can use such information to make the judgment regarding their investment in the company. Wesfarmers has varied potential that can attract the investors (Horngren, 2012). Wesfarmers works in different category of business such as retail segment, industry segment, home improvement segment and many others that made a different from other to make the investment. Company has diverse business operations and high growth balance sheet. The retail segment of the company has foreseen major improvement in recent years and it has been monitored by various changed made. Continuous improvements in merchandising and service; increase in customer satisfaction through regular change in interaction at the stores and online purchase; and investment proposals are some of the major highlights in the change of retail segment of the Wesfarmers (Bazl ey, Hancock and Robinson, 2014). The whole group cash generation power has increased out rightly that has provided the management to manage the capital structure and to make the position of the balance sheet strong. Wesfarmers continuously take opportunities to create and to improve the shareholders wealth through proactively management of the portfolio and reviewing the strategies regularly so that business resources are put in high end growth segments of the company. Coles the major segment of the business has faced high competition and pressure of increase sales margin. In this action, the plan is to focus on the budgeted plans and to further enhance the quality of the fresh offer and to improve the merchandising and availability, through driving the operational efficiencies in order to the support investments in the various services and values. There is expectation and budget driven approach to increase the performance of the Home Improvement segment of the business (Wesfarmers 2017: Annual Report). Overall analysis of the part performance of the company shows that company has done exceptional well in year 2017 as compare to other previous year and it makes a valid choice for the investors to make investment in such growing company. The growth of the company is marked with many potential and valid proofs such as increase in dividend payout, high cash generation capacity, solid capital structure and plan to improve the further business segment. This made the Wesfarmers a strong competitor for the other companies in same segment and also for companies that are in competition as a potential investment for the investors (Wesfarmers 2017: Annual Report). Recent Changes for Addressing Executive Remuneration in the United States The given article Reining in Executive Pay has addressed the need for developing implementing laws and regulations for addressing the excessive remuneration of the executives. In this context, the article has particularly examined the excessive pay provided to the executives in the United States. The executives are realizing higher pay in the United States as indicated from the fact that there is increase of about 42 per cent executive remuneration in the year 2008 despite of the collapse of the financial sector of the country. There is significant growth in the executive pay over the consecutive years and thus there is higher need for developing financial reforms in relation to monitoring of pay of executives. In this context, the U.S government ha introduced a legislation knows as shareholder say on pay to be followed by all the publicly traded U.S companies (Executive Compensation and Incentives, 2006). As per the legislation, the shareholders have a right to decide over the matte rs relating to executive remuneration that should be followed by the Board of Directors. In addition to this, the law has also stated that shareholders as per the SEC regulations can appoint their own directors candidates through ballots if the companys present directors does not approve their decisions. Also, it is necessary for the U.S. companies to maintain the independency of the board of directors in appointing and developing the remuneration committee. The Board of Directors must also ensure that the corporations disclose all the relevant information regarding the executive pay and its relation o financial performance. The reforms introduced by the government in relation to monitor and control the excessive pay provided to the executives aims at preventing the increased rewards to executives. This is necessary because the increased rewards provided to executives can drive the misconduct in managers behaviour by manipulating the financial information for achieving higher pays w hen it is linked to the companys financial performance. Effectiveness of reforms on the Shareholders Assumptions to Act The article has discussed the reforms introduced by the U.S. for monitoring the pay structure of executives in order to ensure that executives does not receive higher rewards that drive them to conduct unethical practices for achieving higher benefits. The reforms introduced by the U.S. government known as shareholder say on pay has stated that all the public-listed companies in the country will decide the remuneration of the executives based on the shareholders opinions. Thus, as such it can be said that the effectiveness of the reforms is based on the assumptions that the shareholders will act ethically and right in deciding over the matters of executive remuneration (McDonnell, 2008). However, there are some barriers to effective shareholder control over the executive remuneration. The major obstacle faced by the Board of the company in this regard is developing an effective strategy for creating an effective communication channel for disseminating the information to the sharehold ers. Thus, as such business entities need to induce changes in its business environment to promote effective communication of all the information related to executive remuneration policies to the shareholders. Also, it can be argued by the contract theory that corporations have contractual obligations with the shareholders and therefore they should act in favour of the shareholders to provide them larger returns (Finance Committee, 2016). Thus, the corporations can influence the decision-making power of shareholders in relation to executive pay through promising them larger retunes. Thus, as such shareholders have profit interest in the corporations and therefore the power provided to them for monitoring the executive pay cannot be stated to be right and just. The independency of the shareholders in deciding over the matters of executive remuneration is question of debate as stated in the present article. Therefore, as discussed in the given article there is need for introduction of more better regulations in the U.S. that provides authority to all the stakeholders of a busies corporation not only to shareholders for deciding and monitoring the executive remuneration. Role of Taxation laws and Denying Contract Adoption for Addressing Executive Remuneration The article has stated that shareholders decision in relation to executive remuneration cannot be regarded to be accurate as it is based on assumptions that they will act ethical and fair in deciding the executive pay. Thus, the article has stated that the reforms introduced should provide authority to all the stakeholders including consumers, workers and all the communities that are impacted by corporate operations. This is because the corporations activities can put all its stakeholders to risk and therefore the responsibility of the executive pay decisions should not be provided only to shareholders but to all the stakeholders. In this context, the tax dollars paid by the general public should not help in subsidizing the executive pay in excess. This can result in a significant reduction of millions form the income taxes that corporations pay as excessive executive remuneration. In addition to this, there is need for developing a federal contract with the companies that provides r emuneration to their executive 100 times more than that of their labour wages (Treanor, 2016). The contract would help in reducing the economic inequality as the contract would require that business companies in the U.S. should maintain a fair proportion of the remuneration between its executive and workers and should provide the ratio between the CEO compensation and the workers in their annual report as well. The introduction of such measures will help in developing the strong corporate governance practices for curbing the excessive executive remuneration (McDonnell, 2008). Conclusion It can be inferred from the overall analysis of the report that ASIC plays a major role in protecting the investors interest through providing them suggestions to analyse the annual report disclosures of various corporations. Also, the executive remuneration should not be linked to the financial performance of a company as this can result in occurrence of fraudulent financial activities in a business entity. Recommendations On the basis of the case study analysis, it is recommended to the investors that they should consider the suggestions provided by the ASIC while analysing the annual report of their selected company. This will help in securing the interests of amateur investors do not possess adequate knowledge about the annual disclosures of a company. In addition to this, as analysed from the second case study there is need for developing strong regulations that provides more power to the stakeholders in deciding over the matters of executives remuneration. References Australia. 2011. Australian Corporations Securities Legislation 2011: Corporations Act 2001, ASIC Act 2001, related regulations. CCH Australia Limited. Bazley, M., Hancock, P. and Robinson, P. 2014. Contemporary Accounting PDF. Cengage Learning Australia. Dagwell, R., Wines, G. and Lambert, C. 2015. Corporate Accounting in Australia. Pearson Higher Education AU. Executive Compensation and Incentives. 2006. Retrieved 10 October, 2017 from https://www.lse.ac.uk/fmg/researchProgrammes/corporateFinance/corporateGovernance/pdf/executiveCompensationAndIncentives.pdf Finance Committee. 2016. Recommendations and Decisions of the International Civil Service Commission to the General Assembly (including Changes in Salary Scales and Allowances). Retrieved 10 October, 2017 from https://www.fao.org/3/a-mq160e.pdf Henderson, S. et al. 2015. Issues in Financial Accounting. Pearson Higher Education AU. Horngren, C. et al. 2012. Financial Accounting. Pearson Higher Education AU. Hussey, R. and Ong, A. 2005. International Financial Reporting Standards Desk Reference: Overview, Guide, and Dictionary. John Wiley Sons. McDonnell, B. 2008. Two Goals for Executive Compensation Reform. Retrieved 10 October, 2017 from https://scholarship.law.umn.edu/cgi/viewcontent.cgi?article=1168context=faculty_articles Treanor, J. 2016. Pay ratios could be made public as part of executive salary reform. Retrieved 10 October, 2017 from https://www.theguardian.com/business/2016/jul/25/pay-ratios-could-be-made-public-as-part-of-executive-salary-reform Wesfarmers 2017 Annual Report. Retrieved 10 October, 2017 from https://www.wesfarmers.com.au/docs/default-source/default-document-library/2017-annual-report.pdf?sfvrsn=0