Assignment:
Assessment Task
Length: 2,400 words total (+/- 10%), comprising 1,200 words for each of the 2 parts in the question. Reference list and cover sheet details are not included in this word-limit tota.
Assessment Criteria:
• Demonstration of knowledge of the issues and evidence of wide reading to support your analysis
• Demonstration of your ability to apply the knowledge to identify keys issues leading to your recommendations
• Evidence of sound reasoning and the exercise of professional judgement to support your recommendations
• Development and statement of concise recommendations for presentation to the Chairman
• Overall structure and professional presentation of your report to the Chairman
• High quality written communication of concepts and terms as the Chairman can be assumed to be professionally competent in corporate governance
‘The US Securities and Exchange Commission slapped Australian mining company BHP Billiton with a $25 million fine for practices tied to gifts offered to foreign government officials during the 2008 Summer Olympic Games in Beijing.
BHP agreed to pay the fine to settle the charges, the SEC said.
The mining company invited 176 government officials and employees of state-owned enterprises to attend the Beijing Games at BHP's expense, the SEC said in its complaint. The sponsored guests were primarily from countries in Africa and Asia and received hospitality packages, that were valued at $12,000 to $16,000 a package, the commission said.
The SEC said BHP failed to provide employees with specific training on how to evaluate the bribery risk of an invitation ... It didn't have procedures to ensure meaningful preparation, review and approval of requests ... in violation of the internal control provisions of the US Foreign Corrupt Practices Act.' Dow Jones Institutional News, ‘SEC Fines BHP Billiton $25Million', 20 May 2015.
Required
Assume you have been employed as a corporate governance consultant by the Chairman of BHP Billiton Ltd.
Your assignment is to prepare a report for the Chairman recommending best practice corporate governance guidelines for the company to adopt so that it can manage and prevent any future issues of alleged corporate malpractice or other actions that could be classified as corrupt practices by executives or directors of the company.