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FIN3703 Assignment 2 Semester 1 2024 EXPECTED SOLUTIONS A+
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FIN3703 Assignment 2 Semester 1 2024 EXPECTED SOLUTIONS A+
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FIN3703CORPORATE TREASURY MANAGEMENT
ASSIGNEMNT 02
SEMESTER 1 2024
SUGGESTED SOLUTIONS TO ASSIGNMENT 02
QUESTION 1
1.1 The CEO asked you to advise him whether this type of fraud committed at farm trust
was possible with Parmalat given the way the company manages its finances.
This type of fraud committed on the farm trust was possible with Parmalat due to lack of corporate
governance at Farm Trust i.e. not adequate controls and checks in place to prevent and detect
fraudulent activities. This was problem which the Finance Manager noticed and took advantage
of.
The board of directors should have developed and document the treasury policy that regulates
the activities in the finance department. The policy must indicate precisely how will financial and
operational risk such as that took place mitigated, monitored, and constantly reported to the audit
committee.
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