You are to reflect on how this case of China Sky relates to what the arguments for and against allowing audit firm partners and/or employees to join audit committees.

TOPIC: CORPORATE GOVERNANCE

REQUIRED: You have to collect evidence on the reforms to corporate governance mechanisms in Singapore. You must research this topic in order to understand the reforms. You have to collect evidence from reliable sources and well you feel confident that you have a full understand you must select the best evidence to upload.

You must relate how these corporate governance reforms will impact on the audit process, namely how it will affect the auditor need on gaining an understanding of the client.

Compensation paid to top executives. Listed companies are needed to make certain disclosures in their annual reports about the compensation paid to their top executives. One reason for this is to help interested stakeholders assess performance of executives. It also helps executives and companies set appropriate compensation levels, based on what other companies in the similar industry and/or of the same size are paying their executives.

Collect four annual reports of four listed Australian companies in the same industry. Extract the information on executive remuneration and explain the data using graphs and tables. Your reflection must address the subsequent questions

• how are the executives paid?

• which companies executives are paid most and what is the packeges?

• which companies executives' pay is most linked to the profit and/or share price performance?

• overall, what you do you conclude about how Australian company executives are paid and how clearly the compensation data is reported.