Future Direction

Question 1

Who are directors of company?What are their duties of directors under Australia Corporation Law?
• Give a short history of the evolution of director’s duties and responsibilities.
Please enumerate their duties and responsibilities today. Are their duties the same in proprietary companies and public companies?
• Explain the consequences should directors contravene the law and the remedies available.
• What do you see in the future direction of director’s duties in Australia?
• Please cite relevant case law and the statutes in your answer and provide proper references.
Length 2,000 words

Question 2

In APA format and after viewing the Corporate Governance Seminar 2012: Panel Discussion, address the following questions. What is the utility of a strategic advisory (governing) board versus a statutory board? Do you feel that the role of the statutory board could be replaced by independent auditors in Western, Anglo-American firms? What about firms from continental Europe, Asia, Latin America, and Africa?