Units
Governance Issues in Accounting
Unit code: AYN507
Contact hours: 3 per week
Credit points: 12
Information about fees and unit costs
This unit adopts an accounting perspective to examine issues relating to sound corporate governance, accountability and transparency. Topics covered include the following: the role of the board of directors and board committees; internal control and risk management; audit committees, internal and external audit; duties of directors and management; codes of conduct and ethics; compensation issues; conflict of interest and insider trading.
Availability
| Semester | Available |
|---|---|
| 2013 Semester 1 | Yes |
Sample subject outline - Semester 1 2013
Note: Subject outlines often change before the semester begins. Below is a sample outline.
Rationale
All firms, regardless of legal structure or business type, are subject to some form of governance and accountability framework. As the group charged with final responsibility for the corporation, boards (and their counterparts in non-corporations environments) are the ultimate users of much of the information produced by accountants. Accordingly, accountants need to know the factors that contribute to an effective governance and accountability framework. Understanding how boards operate, what are the components of an effective governance system, and what accountants can do to improve an organisation's governance will provide students with an ability to identify and address issues of accountability in their professional role(s).
Aims
The aim of this unit is to help students develop their knowledge and understanding of corporate governance and accountability frameworks. It particularly focuses on the role of the board in corporate governance and how the accounting profession can contribute to an effective corporate governance system.
Objectives
Course Learning Goals (Postgraduate)
The QUT Business School has established the Assurance of Learning (AOL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:
Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Well-researched knowledge and critical understanding applied to issues at the forefront of a specialised discipline area
1.2 Ability to select and use effectively a range of tools and technologies to locate and/or generate information appropriate to the disciplinary context
Be critical thinkers and effective problem solvers (CTA)
2.1 Apply logical, critical and creative thinking and judgement to generate appropriate solutions to problems in the disciplinary context
Be professional communicators in an intercultural context (PC)
3.1 Ability to create and present professional documents and/or reports using high levels of analysis/synthesis/evaluation for a range of contexts and audiences
3.2 Ability to orally communicate and justify ideas and information, at a professional level, for a variety of contexts and audiences, including peers and discipline specialists
Be able to work effectively in a Team Environment (TW)
4.1 Operate effectively and with flexibility to achieve common goals in collaborative settings, using a range of skills, including leadership, negotiation, reflection, proactivity and support for team members
Have a Social and Ethical Understanding (SEU)
5.1 Apply knowledge of the ethical, social and cultural dimensions relevant to business situations, including appropriate standards or codes of practice, to provide courses of action
The objectives in this unit are based on relevant Graduate Capabilities. Complete information about Graduate Capabilities is included in the Week 1 Unit Information Document provided to students in Week 1 of each Semester. Please note that Discipline Knowledge, one of the Graduate Capabilities, has been listed separately so that more detail can be provided regarding the specific knowledge you will gain through the completion of this unit.
Unit Objectives
On completion of this unit you should be able to:
1. Demonstrate an understanding of the key components that make up an effective governance system;
2. Demonstrate an understanding of the legal, professional and social factors that contribute to effective corporate governance;
3. Critically evaluate a corporate governance system.
Other Graduate Capabilities
On completion of this unit, you should be able to:
A. Use analytical thinking skills to determine how to effectively use corporate governance concepts in practical situations;
B. Engage in critical thinking processes to evaluate and judge arguments, evidence and conclusions about different approaches to corporate governance;
C. Demonstrate reflective thinking by linking corporate governance principles to your work or the business press;
D. Engage in problem solving to identify how to improve corporate governance in specific contexts;
E. Make decisions about the effectiveness of various components of a governance framework based on appropriate data;
F. Demonstrate an ability to employ effective oral communication skills by critiquing and discussing relevant corporate governance readings;
G. Demonstrate an ability to employ effective written communication skills by writing a long report in a corporate governance context.
H. Demonstrate effective listening skills by responding to group discussions on corporate governance readings;
I. Demonstrate how ethics links to effective corporate governance; and
J. Demonstrate how corporate governance impacts on society.
The specific course learning goals and unit objectives that apply to this unit are shown in the assessment section of this unit outline.
Content
The unit has been designed to achieve the specified aims and objectives. The unit commences with an introduction to governance and ethics before providing an overview of the general legislative framework within which boards and directors operate. It then examines selected aspects of corporate governance including governance policy, the board and risk management, and the audit function. The lectures also cover the role of other key stakeholders in the corporate governance environment, particularly shareholders and creditors. The final lectures provide an introduction to different corporate governance regimes and to contemporary issues in corporate governance.
Approaches to Teaching and Learning
This unit will encourage you to conceptually link the theoretical aspects of corporate governance with the practical aspects so as to enable you to apply your knowledge to a wide variety of real world situations. There are two elements to the learning and teaching strategies employed in this unit - lectures and weekly seminars. Both are included to enable students to fulfil the aim and objectives of the unit as discussed above.
Lectures will provide an introduction and a basic understanding of the concepts and issues covered and will take up approximately one hour of the 3 contact hours For lectures 2-12 a detailed lecture outline is available on-line prior to the lecture. Since there is lengthy interaction between lecturer and students in the class, there is great value in attending lectures. All slides used will be available on-line on the day after the lecture each week.
Seminars develop the basic understanding provided in lectures by in-depth discussion of topics and application to real world examples and case studies. The importance of seminars is reinforced by the awarding of 20% for preparation and particpation in the weekly discussions (see details under 'assessment' below).
Assessment
Students will receive feedback in various forms throughout the semester which may include:
Assessment name:
Seminar Presentations
Description:
Seminar participation is undertaken weekly, commencing week 3. Students will be required to develop a portfolio of current corporate governance events/issues, aligned with the weekly topics. The students will present their articles, relate to theory and lead a discussion with the group on how the event creates or rectifies governance problems. The portfolio of current governance issues will be collected at the end of the semester along with a report of no more than 1000 words on how the articles relate to corporate governance and what they have learnt from the articles and how they relate to corporate governance theory.
Length/Duration: Undertaken weekly, commencing week 3
Formative or Summative: Formative and Summative
Relates to objectives:
Unit objectives: 1, 2, B, C, F, H and AOL goals: KS (1.1) CTA (2.1) PC (3.1) PC (3.2) SEU (5.1)
Weight:
20%
Internal or external:
Internal
Group or individual:
Group
Due date:
Weekly from week 3
Assessment name:
Mid-Semester Exam
Description:
The End of Semester examination will be centrally based. The exam will involve a mix of multiple choice and practical and theoretical questions.
Length/Duration: 2 hours
Formative or Summative:
Relates to objectives:
Unit objectives: 1, 2, 3 and AOL goals: KS (1.1) CTA (2.1) SEU (5.1)
Weight:
25%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Week 7
Assessment name:
Final Exam
Description:
The End of Semester examination will be centrally based. The exam will involve a mix of multiple choice and practical and theoretical questions.
Length/Duration: 2 hours
Formative or Summative:
Relates to objectives:
Unit objectives: 1, 2, 3 and AOL goals: KS (1.1) CTA (2.1) SEU (5.1)
Weight:
55%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Central Exam Period
Academic Honesty
QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.
A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.
Resource materials
Texts
Psaros J. (2009), Australian Corporate Governance, Pearson Education, Australia
References
Baxt, R (2002), Duties and Responsibilities of Directors and Officers, 17th edn, Australian Institute of Company Directors, Sydney. KU956.3 .B39 2002
Dallaportas, S., Gibson, K., Alafiah, R., Hutchinson, M., Leung, P., and Van Homrigh, D. (2005). Ethics, governance and accountability, John Wiley and Sons, Australia Ltd.
Deane G. and F Clarke (2001) Collapse Incorporated: Tales, Safeguards and Responsibilities of Corporate Australia. CCH Australia: North Ryde, N.S.W.
Du Plessis, J.J., McConvill, J. and Bagaric, M. (2005). Principles of Contemporary Corporate Governance. Cambridge University Press, Melbourne.
Farrar, J. (2001), Corporate Governance in Australia and New Zealand. Melbourne and Oxford: Oxford University Press. HD2741 .F37 2001
Kiel, G.C., and G.J. Nicholson (2003), Boards that Work: A New Guide for Directors, Sydney: McGraw Hill. HD2745.K54 2003
Solomon, J. (2007). Corporate Governance and Accountability 2nd Ed., John Wiley and Sons, London Ltd, HD2741.S65 2007
Other Resources
Additional references can also be found at the unit's Blackboard site: http://blackboard.qut.edu.au
Risk assessment statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.
Last modified: 24-Jan-2013
