Home » asset management question 1 wealth ltd wealth is an asset management and consulti

asset management question 1 wealth ltd wealth is an asset management and consulti

Wealth Ltd (Wealth) is an asset management and consulting company which listed on the ASX (Australian Stock Exchange) five years ago. It has eight directors. Alan, Ben, Chris, David and Elias are non-executive directors, with Alan, David and Elias making up the audit committee. Fred, Gerald and Hal are executive directors, being the chief executive officer, chief financial officer and chief operating officer respectively. The company has around 20,000 shareholders although the precise number changes on a daily basis. Fifteen years ago, Gerald was disqualified from managing companies for eight years for failing to keep adequate accounting records and causing significant losses to the company he directed.
Two years ago, Fred, Gerald and Hal set up another company, Boss Enterprises Pty Ltd (Boss), of which they own all the shares and are the only directors. They then caused Wealth to enter into a number of contracts for the supply of services with Boss on terms which are unfavourable to Wealth. They have also been diverting a substantial amount of business from Wealth to Boss. For a while they managed to conceal the losses these actions were causing to Wealth by producing fake accounting figures. While the figures were very obviously fake, the fraud was not discovered by the companys auditors or the audit committee for a couple of years, but with the appointment of new auditors, the true position has been uncovered.
As a result of this, Wealths turnover and profits are down, and its share price has fallen considerably. A number of shareholders have complained to ASIC, which has launched an investigation.
Focusing on duties and remedies found in the Corporations Act 2001 (Cth) and related case law, advise Alan, Ben and Fred as to whether they are at risk of liability or other sanctions.

Read less

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10