Corporate Governance Of API Limited Samples †MyAssignmenthelp.com

Questions: 1.How corporate governance is important to API Limited? 2.Who should I advise if I need to change contact details related to my shareholding in API? 3.If I want to check API share price with the Australian Securities Exchange (ASX) what is the ticker symbol? 4.When did API acquire Priceline? Answers: 1. Corporate governance is the system of rules, practices, and processes by which a firm is controlled and directed. It essentially encompasses harmonizing the interests of several company stakeholders such as customers, shareholders, management, suppliers, community and the government (Deegan, 2012). In accordance to Australian Pharmaceutical Industries Limited, the goal of corporate governance is usually to enhance entrepreneurial, prudent and effective management that can provide the long-standing achievement of the business. Australian Pharmaceutical Industries Limited board often recognizes the significance of a strong governance culture and framework throughout the organization. According to API annual reports, the board of directors continues to shape on and heighten the fully established governance structure to ensure that the company maintains its culture. The responsibilities and roles of the company board are provided in the board agreement. In order to help with the establishment of its duties, the board has created a risk and audit committee, remuneration committee and a nomination committee that have detailed charters (Ferrell, Fraedrich, 2015). Under ASX rules of the listing and ASX corporate governance council recommendations and standards, API is needed to basically divulge the degree of its conformity with the standards since the details of the standards by the consolidated company are completely provided in Australian Pharmaceutical Industries Limited annual statements that are accessible in the corporate governance reports. Generally, the duties of the board involve making the firm strategic purposes, offering the management to put them into force, overseeing the company management and reporting to stakeholders on their leadership. According to API, the directors have also instigated control procedures for evaluating, ascertaining and managing substantial risks to the attainment of the first goal (Khan, Muttakin, Siddiqui, 2013). The company internal control practices often cover operating, compliance and financial risks that may affect the company operations. In this case, the API directors also obtain and consider the yearly control documentation by the CEO and CFO in conformity with the ethics that relate to operating and financial risks. This aspect is vital because it will ensure that the company production and management are in accordance with the set rules and responsibilities by the governing bodies (Australian Pharmaceutical Industries annual reports, 2016). Impact of corporate governance in the company Good corporate governance can have a broader impact on both listed and no listed because it is essentially about enhancing transparency and accountability within prevailing systems. According to the company, one of the most fascinating developments in the last decade has been the manner in which the aspect of corporate governance label has been employed to define accountability and governance issues being the business sector (Deegan, 2013). This can be misleading and confusing as Australian cooperate governance has been developed and built so as to deal with the governance of registered corporations bodies and not intended to cover all forms of organizations that might have a different framework of accountability. Australian Pharmaceutical Industries Limited basically promote holistic practices of working that includes but not restricted to continuing to provide worker assistance programs, eldercare kits, childcare kits and supporting a parental sabbatical return to work measures and providing a parental sabbatical return to work gear (Schroeder, Clark, and Cathey, 2013). APIs corporate governance structures often include the following documents: Corporate governance report that stipulates the roles and responsibilities of the board and management (Mason, Simmons, 2014). Australian Pharmaceutical Industries Limited Constitution Agreements for Risk and Audit Committee, Board, Remuneration commission and Nomination commission (Australian Pharmaceutical Industries annual reports, 2016). Diverse policies that encompass code of ethics and conduct, conformity, continues revelation, securities transaction and shareholders communication for Australian Pharmaceutical Industries Limited. Frequently Asked Question in Australian Pharmaceutical Industries Limited 2. This part encompasses the most frequently asked questions by both new and existing customers. In this case, customers will attempt to find viable information from the managers in charge of diverse departments before making any order or purchasing any of the company product or service (Holland, Albrecht, 2013). Diverse questions have been identified on the company website as some of the most asked questions. In this case, if a shareholder seeks to change his or her contact details in relation to the shareholding in Australian Pharmaceutical Industries Limited, he or she will have to notify the Boardroom Pty Limited since it is the companys share register and it basically manages all the shareholder's details. 3. Consequently, the shareholder will also visit the share registry page for the Boardroom Pty Limiteds contact information. According to the company website, if an individual or a shareholder seeks to check API share price with the Australia Security Exchange (ASX), Australian Pharmaceutical Industries Limited often uses API as the ticker symbol. The company share prices can be monitored on the company homepage and that there is often a 20 minutes delay in the price quotation (Holland, Albrecht, 2013). If I had shares prior to the company being listed on the ASX how do I calculate their original value? The company website also stipulates that if an individual or shareholder has share prior to the business being listed on the ASX, he or she must contact API for this case with the information in order to confirm the applied price. This is because Australian Pharmaceutical Industries Limited is a corporation that basically had share issues to pharmacists before being publicly listed. 4. Australian Pharmaceutical Industries Limited was publicly listed on the ASX in 1997 as the company was first established in 1910 primarily to engage in the wholesale distribution of pharmaceutical health, medical, lifestyle and beauty products to pharmacies across Australia and New Zealand and other regions (Mason, Simmons, 2014). The company was also initiated to offer wholesale delivery of products, marketing programs, business advisory services as we as retail services to diverse pharmacies across the region. In FY2004, Australian Pharmaceutical Industries Limited acquired new price retail as part of the strategy to become more emphasized to the customers. 5. The new price retail basically owned the products of Priceline Pharmacy, Priceline and Price House and Attack. According to the company, it sold off Price Attack and House shop in the FY2007 because the unit was considered non-core and provided low revenues (Mason, Simmons, 2014). Priceline franchise model acquisition in 2004 was basically dedicated to helping women look good, feel great and also live well. This was one of the most asked questions according to the company website because the customers often seek to know the time one of its renowned retail franchise was acquired. Bibliography Australian Pharmaceutical Industries Limited annual reports. 2016. Retrieved from https://www.api.net.au/investor/annual-reports/ Deegan, C., 2012. Australian financial accounting. McGraw-Hill Education Australia. Deegan, C., 2013. Financial accounting theory. McGraw-Hill Education Australia. Ferrell, O. C., Fraedrich, J., 2015. Business ethics: Ethical decision making cases. Nelson Education. Holland, D., Albrecht, C., 2013. The worldwide academic field of business ethics: Scholars perceptions of the most important issues. Journal of business ethics, 117(4), 777-788. Khan, A., Muttakin, M. B., Siddiqui, J. 2013. Corporate governance and corporate social responsibility disclosures: Evidence from an emerging economy.Journal of business ethics,114(2), 207-223. Mason, C., Simmons, J. 2014. Embedding corporate social responsibility in corporate governance: A stakeholder systems approach.Journal of Business Ethics,119(1), 77-86. Schroeder, R.G., Clark, M.W. and Cathey, J.M., 2011.Financial accounting theory and analysis: text and cases. John Wiley and Sons.