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Corporate Governance

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DETAILS OF ASSIGNMENT: Review the audited annual reports including financial statements presented to the shareholders in respect of the company noted below and answer the questions. Please note that if the web-link fails to open you may need to “right click” on it and use “open hyperlink” to access it. Qantas Ltd – 30 June 2015 https://www.qantas.com.au/infodetail/about/investors/2015AnnualReport.pdf Questions to be answered by the team or group: Assume that your audit team is responsible for planning the audits for Qantas Ltd for the year ended 30 June 2015. Discuss your strategies in relation to the questions noted below – 4. In relation to corporate governance research and justify your answer to the following questions- (A) Does the above company have any process relating to corporate governance? Under which section of the annual report would you expect to find information on it? (B) Does the company have an audit committee and does the audit committee have the correct composition? (C) In your team’s opinion, are audit committees of benefit to the auditor, the company, the auditing profession and/or society as a whole? Why or why not?