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This is a group assignment. Examples of articles related to ABC Learning Centres, Centro Properties and Hastie Group are provided on Web Ct.

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Recently, there have been a number of high profile company collapses which have had a significant effect on employees, customers, government, creditors and other stakeholders. The companies are ABC Learning Centres Ltd, Centro Properties Ltd and Hastie Group Ltd. In each of these cases there were questions raised as to the culpability of directors. Research question: To what extent is it the directors’ duty to ensure that the financial statements of a company provide a true and fair view? In answering the above research question, you are required to: Provide a brief back...

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Recently, there have been a number of high profile company collapses which have had a significant effect on employees, customers, government, creditors and other stakeholders. The companies are ABC Learning Centres Ltd, Centro Properties Ltd and Hastie Group Ltd. In each of these cases there were questions raised as to the culpability of directors. Research question: To what extent is it the directors’ duty to ensure that the financial statements of a company provide a true and fair view? In answering the above research question, you are required to: Provide a brief background of the causes for the financial problems for each of the three companies. Explain what you believe to be the main financial disclosure issues raised and, Assess whether there are any similarities between the events in each case and what has been done to prevent such collapses in the future. In your answer, please make reference to any relevant accounting standard or Corporations Law (2001) section (s). It is up to each group to undertake a comprehensive review of the literature. Without reading and gaining a comprehensive understanding of the three cases, the above questions will not be adequately answered. This assignment CANNOT be appropriately completed 1 week before the due date.

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The director is the person one who is completely responsible for the financial management of the company. He will monitor the total aspect of the company from top to bottom like shareholder, stake holder, investor, accounts and auditing. Under his supervision each and every thing will be processed and maintained at the regular intervals of time. The director of the companies whether it is private or public they have huge responsibilities towards their companies. They also may lead to civil and criminal liability of the individual director concerned.

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