Question
There has been a lot of regulatory and legislative change to accommodate the disruption caused to business by the COVID19 pandemic. In the context of
There has been a lot of regulatory and legislative change to accommodate the disruption caused to business by the COVID‐19 pandemic. In the context of this unit, let’s examine the impact on financial reporting and the 2020 Annual General Meeting (AGM) season
a) Why do companies have AGMs?
b) What is the current law on companies holding an AGM? (By current law, focus on what in enacted in the Corporations Act 2001).
c) What are the temporary changes to law and practice as to holding an AGM during 2020? (By temporary changes, refer to sources such as the Coronavirus Economic Response Package Omnibus Act 2020 and relevant Determinations and ASIC guidance).
d) Why is the current law not sufficient to cover the circumstances companies face in 2020 in organizing their AGM? Analyze the changes to provide ONE main comment on why the temporary changes to the current law are necessary from a financial reporting perspective.
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a An annual general meeting or annual shareholder meeting is primarily held to allow shareholders to vote on both company issues and the selection of the companys board of directors In large companies ...
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
7th edition
978-0077632427, 77632427, 78025656, 978-0078025655
