You are a corporate governance expert that has just been appointed as a member of CAMAC. CAMAC is concerned about recent corporate collapses in Australia
and overseas, and how they are affecting the public’s view of the way that companies are run. Members of CAMAC are worried that state and/or federal
parliaments may react to public pressure in a way that will be detrimental to the economy. You have been asked to assist the legal committee of CAMAC to make submissions to government on the current and future state of the law on corporate
governance. Your assignment is to write a briefing paper which: 1. discusses how corporate governance is currently regulated in Australia, in an area of your choice (see Hints over the page); and 2. provides examples of the impact of that regulation on Australian society and/or Australian corporate culture; and 3. presents your recommendations on if and how the law should be changed.