a) One of the ASX 8 Principles of Corporate Governance (2019) is to recognise and manage risk. In your own words, explain why is risk management such an important part of good corporate governance practice? You need to make reference to one relevant theory in your response. (4 marks) (b) Milton Friedman said, Corporate governance is to conduct the business in accordance with the owner or shareholders desires, which generally will be to make as much money as possible while conforming to the basic rules of the society embodied in law and local customs. Identify a theory that is relevant to corporate governance and explain why. (4 marks) (c) What are two of the advantages of good corporate governance? In your response, reference a specific stakeholder that this is favourable towards and explain why. (4 marks) (d) What is the principles-based approach to corporate governance? Outline two (2) advantages of this approach. (3 marks)