Hi,

You must be the new accountant in our consultancy division. I have just received confirmation that we have won a number of tenders to conduct corporate governance reviews at WESTPAC BANK.

Recently, we have been engaged by WESTPAC BANK to review their corporate governance frameworks following the 2018 Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and other reviews, have which revealed wide-ranging misconduct across these sectors, including unethical conduct and culture, legal non-compliance, illegality, regulatory ineffectiveness, and money laundering. As part of this work, we have found the conduct of our clients was shown to have numerous corporate governance failings. Our recommendations in those reports were welcomed by the organizations and are being implemented. We hope that your current investigations and reports which follow are also a success!

• Q1. Elements of effective internal governance: What is the law (soft, hard, hybrid) applicable to WESTPAC BANK for corporate governance? How should the board be structured, in terms of size and capacity? What control functions should be in place? Draw upon evidence of contemporary business practices and regulation