Outline

Overview

Corporate governance has been defined as "the system by which companies are directed and controlled" (Cadbury 1992). As the capstone unit for the MPACC, this unit assures the learning from prior management accounting, audit, financial reporting and analysis units by exploring how accounting information is used (and at times abused) in enabling corporate governance and accountability. The unit introduces students to key theories which are drawn upon to understand corporate governance: agency, stakeholder and stewardship theories. It then explores the central relationships and practices upon which effective governance depends; relationships between a CEO and directors, the board and its risk, audit, remuneration and nominations sub-committees, board members and their external auditors and other advisers, and relationships between the board, financial analysts, investors and shareholders. While these issues are generally explored in the context of the Anglo-American system of corporate governance which privileges the interests of shareholders, the unit also explores alternative systems of corporate governance in a transitional economy, principally that of China. Wider issues of corporate social responsibility in relation to the globalisation of product and capital markets, as well as climate change, are also examined. As an integral part of their learning experience and assessment, students are required to present an internationally focussed case study that is updated as they progress through the range of topics explored in the unit.

Unit details and rules

Unit code	ACCT6120
Academic unit	Accounting
Credit points	6
Prohibitions ?	None
Prerequisites ?	ACCT6010
Corequisites ?	None
Assumed knowledge ?	CLAW5001
Available to study abroad and exchange students	No

Teaching staff

Coordinator	John Roberts, john.roberts@sydney.edu.au

Type	Description	Weight	Due	Length
Final exam (Record+)	Final exam Written exam	45%	Formal exam period	2 hours
Outcomes assessed:
Presentation	Group presentation Oral presentation	20%	Multiple weeks	25-30 minutes
Outcomes assessed:
Assignment	Individual assignments Case study - due dates vary based on allocation	20%	Multiple weeks	2500 words
Outcomes assessed:
Participation	Workshop participation Participation	5%	Ongoing	Ongoing
Outcomes assessed:
Online task	Online quiz Written test with non-written elements	10%	Week 04	20 minutes
Outcomes assessed:
= hurdle task ? = group assignment ? = Type B final exam ?

Assessment summary

Online quiz: This quiz is designed to test your ability to demonstrate an understanding of the topics covered in weeks 1 to 3 of the unit. The focus of the quiz is on your understanding of concepts in relation to corporate governance. The quiz will be held online in Week 4. Further details will be advised via Canvas.
Individual assignment: A key part of this unit will be being allocated to a group of up to five students within your workshop stream and given a case company to study. This will be a company listed on the Hong Kong Stock Exchange, and subject in its reporting to the Hong Kong corporate governance code. For each case company, there are five individual assignments, covering five different topics, each of which your group will allocate among individual group members. Individual assignments are due weekly from Week 6. Further details will be advised via Canvas.
Group presentation: Expanding on the research done for each individual assignment during the semester, group presentations will focus on a critical evaluation of governance practices and circumstances of your case company. Further details will be advised via Canvas.
Presentations will be held in the last two weeks of semester. Slides will be submitted via Canvas (Turnitin) on the day of the presentation. The presentation schedule will be advised via Canvas.
Workshop participation: The workshop participation mark is awarded for students’ active engagement in workshops from Week 5 to Week 11. Further details will be advised via Canvas.
Final exam: The final exam is designed to test your ability to demonstrate an understanding of the topics covered in the course. Further information on the format, style of questions and content focus of the exam will be provided in the last lecture before the final exam. This assessment is listed as HURDLE TASK. This means you must undertake the assessment and achieve a mark above a minimum standard. Students who fail to achieve this minimum standard in this assessment, even when their aggregate mark for the entire unit is above 50%, will be given a Fail grade for the unit. As a result the student's academic transcript will show a fail grade and the actual mark achieved if between 0-49 and a fail grade and a capped moderated mark of 49 for all other marks.The hurdle mark for this assessment is 45%.
Please note that the form of the Replacement Final Exam may vary from the main exam and may include an oral component.

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Distinction	75 - 84	Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Credit	65 - 74	Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Pass	50 - 64	Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Fail	0 - 49	When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

Replacement exams: Replacement exams will be offered as per the University Assessment Procedures. Late penalties: For all the late submissions after the due date not covered by an approved special consideration) or submitted after the extension granted under a special consideration, a penalty of 5% of the maximum awardable marks will be applied for every calendar day up to and including ten calendar days after the due date. The penalty will be calculated by first marking the work, and then subtracting 5% of the maximum awardable mark for each calendar day after the due date. For work submitted more than ten calendar days after the due date a mark of zero will be awarded.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Week 01	1. Introduction to the unit and assessment; 2. Introduction to Corporate Governance (CG) and accounting; 3. Why does CG matter? (Theoretical perspectives)	Seminar (3 hr)
Week 02	Why does CG matter? (CG codes and practical perspectives)	Seminar (3 hr)
Week 03	Corporate governance in China	Seminar (3 hr)
Week 04	The role of the board - boards at work	Seminar (3 hr)
Week 05	Board committees - remuneration committee and executive pay	Seminar (3 hr)
Week 06	Board committees - audit committee, risk and assurance	Seminar (3 hr)
Week 07	Financial disclosure and reporting	Seminar (3 hr)
Week 08	Investors, analysts and shareholders	Seminar (3 hr)
Week 09	The role of the board - risk management	Seminar (3 hr)
Week 10	Corporate social responsibility and ethics	Seminar (3 hr)
Week 11	Corporate social responsibility, climate change and sustainability	Seminar (3 hr)
Week 12	Case study company analysis (Group presentations).	Seminar (3 hr)
Week 13	Review and exam preparation - guidance to assist students in revising for the final exam (Group presentations)	Seminar (3 hr)

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

All readings for this unit can be accessed via Weekly study guides and the online Reading List, available on Canvas.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. understand the key roles and relationships through which corporate governance is practised – including the role of accounting, boards and board sub-committees, executive and non executive directors, institutional investors and codes
LO2. understand the different interests and academic perspectives which define the 'problem' of corporate governance
LO3. understand some of the common causes of corporate governance failures and the effectiveness of regulatory remedies
LO4. understand key differences between national systems of corporate governance in both developed and transitional economies
LO5. research and present to the class around specific governance topics
LO6. understand some key issues related to corporate social responsibility and sustainability.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

Unit lectures and case studies redesigned in response to student feedback

Additional information

More information can be found on Canvas.

Lecture recordings: All lectures are recorded and will be available on Canvas for student use. Please note the Business School does not own the system and cannot guarantee that the system will operate or that every class will be recorded.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect

Current students

ACCT6120: Corporate Governance and Accountability

Semester 2, 2022 [Normal day] - Remote

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect