Governance and Auditing 6BUS1227

Governance and Auditing
6BUS1227
Individually Written Coursework 2016-2017
The coursework for this module will comprise of two components of equal weight, (i.e. 20% of the total module mark for each element of coursework).

The first piece of coursework will focus on Governance the second piece will focus on Auditing. In order to pass the module, it is a requirement to pass the overall coursework element (i.e. combined coursework 1 and 2), plus to pass the exam at the end of Semester B.

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Coursework One – Governance

Submission requirements:

Your submission should made in one word processed document, and respond to the following Requirements:

Requirement 1 (450 words). Total 20% of Coursework 1 marks
With explicit reference to The UK Code:
a) Evaluate whether the Code should apply to all UK companies (10%)
b) Evaluate the rights and responsibilities of employees and directors with regard to whistleblowing (10%)

Requirement 2 (maximum 800 words). Total 70% of Coursework 1 marks
AlphaZeta Limited
Ms Noye is the ambitious chairman and chief executive of AlphaZeta (AZ), a rapidly growing private software development company. She is the heiress of a recently deceased South American mining tycoon.
The board of AZ has 6 other directors. Three directors are longstanding executives, two directors have been appointed within the last 2 years and one has joined recently, following publication of the company’s annual financial results. The most recent results have shown remarkable and continued growth in AZ’s turnover although profitability continues to be weighed down by significant investment in product development.
Directors are carefully selected based on their loyalty to the Noye family or connections through old school or university acquaintances.
The company has to date primarily financed its operations through the Noye estate and from its directors.
Ms Noye (like her father) believes that directors are motivated only where they have invested directly in the business. Every director has invested in the company through the purchase of shares (minimum investment £100, 000). As well as being a shareholder in the company each director has executive responsibilities in the business. 22% of the company’s shares are held outside of the board.
The group has two offices, in London and Paris, and employs 251 people. A core software development team of 80 is based in France whilst the sales and operational teams are based in London. Ms Noye is a serial entrepreneur and has a number of other business interests. She spends a minimum of 8 days per month focused on AZ. The Finance Director (FD), Chris Taylor, is the civil partner of Ms Noye.
Cash flow projections by the FD indicate that the group will require significant additional finance if it is to complete development of its latest offering of software and be able to take it to market. Given its robust financial performance and strong track record to date, the board is confident in the saleability of its latest products and is considering a listing on the London Stock Exchange (ideally within the next two years) in order to access capital for current and future needs.
The board recently met with external professionals, retained to advise on the flotation. In that meeting, the board was informed of the need for quoted companies to comply additional corporate governance requirements. Chris Taylor took the opportunity to seek advice on the contents of an anonymous letter addressed to herself, most likely received from a disgruntled employee. It alleged that there were material discrepancies in the financial data published externally by the company.
From the perspective of an external professional advisor, submit a report to the directors setting out your response to the following aspects.
a) Assess the corporate governance arrangements in place currently at AZ Limited. Advise the board on improvements that should be made (35%)
b) Advise the FD on the steps she should take in response to the letter (35%).
Note: Your report should be suitable for inclusion in the board papers.

Mark allocation for Coursework 1

Requirement 1 = 20%
Requirement 2 = 70%
Presentation, Grammar and appropriate referencing to sources = 10%

10% of coursework 1 marks are split between presentation, grammar and referencing. Please note that although these elements are awarded 10% of the marks, poor presentation and grammar will impact on the readability and credibility of all areas of your report, and therefore may affect other marks.

Your submission should not exceed 1,500 in length and should be word processed. Word count maximum for Requirement 1 is 600 words, Requirement 2 is 1,200 words, (therefore allowing some flexibility in word count between the requirements).

Your research for this submission may include recent journal articles and articles from credible sources such as Professional Institutes, Regulators, Professional Services Firms, and quality newspapers/publications.

Submission
Submission should be made in a single word processed document, and should be submitted on Studynet, by 9am on Monday 5th December 2016. No hard copy is required to be submitted.
Your submission should have the filename of your student number. (NOT YOUR STUDENT NAME).

Your submission should include:
A title page, including your student number (do not include your student name), and word count (excluding references).
A bibliography which includes all articles and books you have cited in the text.
Coursework 2 – details of this assignment will be issued at a later date, submission date is 6th March 2107