1 Discuss the importance to shareholders of the conceptual framework for corporate risk disclosure that is made explicit in the Turnbull Report.

2 Evaluate the extent to which you consider UK listed companies are complying with the recommendations of the Turnbull Report in spirit. In your answer make reference to the information disclosed in annual reports that you have examined as well as to academic papers and other published sources that you have read

3 To what extent do you think that the Smith Report has produced recommendations that will improve the objectivity and independence of the external auditors?

4 (]rune a company listed on the London Stock Exchange (preferably one in the Top ISO). Download the latest annual report for this company from the Internet. Examine the information provided in the report on internal control, risk management aid compliaiwe with Turnbull. Evaluate the extent to which you consider the recommen¬dations of Turnbull are being complied with in substance as well as in form.

6 Do you think there are real reasons why institutional investors should he concerned about the independence and genuine effectiveness of the audit function? Search newtipapers and the Internet for cases supporting your view.

7 Debate the abolition of the mandatory OFR. What impact on the introduction of more forward-looking narrative disclosure do you think its replacement with the Business Review will have?

8 Do you think that current governance disclosures in UK company annual upsets are lacking? Look at a selection of such disclosures from current annual retorts as evidence to support your arguments.