POSTGRADUATE DEGREES COURSEWORK FRONT SHEET MODULE TITLE: CORPORATE GOVERNANCE & OPERATION RISK ANALYSIS AND CONTROL MODULE CODE: RMA7002 LECTURER: ISSUE DATE: 09 February, 2017 HAND IN DATE: 15 March, 2017 HAND BACK DATE: 12 May, 2017 Learning outcomes  Recognise and evaluate the role of corporate governance in the appointment of board of directors, and the role that stakeholders play in the governance of a firm.  Discuss and evaluate the complexity of the financial risk environment and how different contexts within which businesses operate interact with each other.  This assignment covers learning outcomes 1 and 3 The pass attainment level is on page 5 COURSEWORK INSTRUCTIONS: Candidates are required to answer the whole of question in no more than 3000 words. The Standard Format shall be:  Title Page  Index/Table of Contents.  Main Body of Text  Appendices (if any, optional for this assignment)  References  Bibliography-Using Harvard Method BHS Case Study 2 of 4 You are an independent corporate governance consultant and you have been approached by former BHS employees to provide them advice that is based on the following newspaper article. "Sir Philip Green's prize £100million super yacht was tagged the 'BHS Destroyer' in a comedy stunt. TV star Lee Nelson managed to get up close to Sir Philip's Lionheart floating home and attach the sign from a propelled dinghy in Monaco. The comedian and his team sneaked up to the imposing ship after none of Lionheart's 28- strong crew spotted the approaching craft. Nelson tweeted: 'Good of Sir Philip Green to rename his £100m yacht to something more appropriate. I was glad to help.' Sir Philip sold BHS to the former racing driver, Dominic Chappell, for £1 in March 2015. The doomed department store closed its final stores last month after years of decline, ending 88 years of one of Britain's best known names. Meanwhile, Sir Philip was enjoying a five-week extravaganza around southern Europe on Lionheart. He started out in the Greek islands, visiting Corfu, Skopelos, Skiathos, Mykonos, Poros and Hydra. Look who were the auditors how long did they audit the company did they have any independent. Who were the BHS stakeholders what was the effects? Identify the reasons look both side what is the validate with those reason. Around 11,000 people lost their jobs in the BHS collapse and as many as 22,000 pensions could be affected. Sir Philip was criticised for his role at BHS over the years in damning report published by MPs last month. He is being investigated by regulators probing BHS' £571million pension deficit" (Daily Mail, 2016). You are required: a) To write to the former employees, a Report that gives a detailed analysis of the following key corporate governance issues. Your Report should: i. Discuss the reasons why Sir Philips Green is facing criticism for BHS' closure. Your discussion should also explain if the former board of directors led by Sir Philips Green may have been complicit in the closure of BHS. (20 marks) ii. Analyse whether the external auditors had a duty to unearth this scandal and the reasons they may have missed it. (10 marks) iii. Discuss in the context of the Agency Theory, whether it is the employees' prerogative to lobby the government to institute an enquiry into the conduct of the management of BHS. What other actions could the employees have taken to address Sir Philip Green's conduct? (10 marks) iv. Discuss the effects that this scandal may have on the other BHS stakeholders. (10 marks) 3 of 4 When marking the assignment the following aspects and weighting will be taken into consideration: Element Expected Weighting % Content and Sources Good range of relevant and pertinent up to date research sources, both practical (eg. Actual examples of acquisition with appropriate commentary) and academic. 15 Analysis Interpretation and critical analysis of the sources used. Consideration of rationale. Development of logical and critical argument. 40 Application Relating the analysis to a practical situation. Consideration of scope and limitations and implications of findings. Conclusions and possible recommendations. 35 Presentation Adherence to assignment guidelines. Fully and correctly referenced. Good format and structural presentation. Use of concise and lucid English. Compliance to word count. 10 100 4 of 4 Attainment Level Mark Content 70+ Excellent Excellent work which demonstrates authoritative grasp of the concepts, methodology and content appropriate to the subject discipline. Indication of originality in the application of ideas, in synthesis of material or in performance; personal insights reflecting depth and confidence of understanding and real critical analysis. Work is well structured and presented with full referencing. 60-69 Very Good Very good work which demonstrates sound level of understanding based on a grasp of relevant concepts, methodology and content; displays skill in interpreting and analysing complex material. The material is well organised and referenced 50-59 Good Work that demonstrates a coherent response to the requirements of the coursework and has a clear expression of ideas. It uses relevant source material and demonstrates some understanding of the concepts. The student draws relevant conclusions, the work organised and some referencing. 40-49 Acceptable Recognisable if limited awareness of the requirements of the coursework. There is some evidence of some understanding. There is some attempt to draw relevant conclusions. 35-39 Unacceptable Marginal fail. Unsatisfactory but showing some understanding. May be condonable is stronger performance on one aspect of the work compensates for weaker work elsewhere. 0-34 Unacceptable A poor attempt Little evidence of understanding or application.