" (ERisk.com Case Study Online) Many were affected by the collapse of HIH Insurance Company with stakeholders being the company employees, policyholders of the company, as well as the Australian taxpayer who will help shoulder this debt and finally those who are referred to as the "whistleblowers" or those that tipped off regulators that something was amiss.
There has been a strong campaign for protection for whistleblowers for both private and public sectors in Australia for the last ten years. Protection for whistleblowers serves public interest through exposure and elimination of waste, fraud and impropriety within a corporation or company. If those who would report such actions against a company were protected then collapses such as HIH's and other companies recently in the news might be altogether avoided or at the least minimized as to the impact, which they have.
Recommendations are for ethical and proper business dealings on the part of company managers with...
(Millstein, 2005) Since United States and Australia are countries which are already considered to be globally competitive that has attained its almost perfect status in the world market, developing countries are basically taking into account every step that they make for which they might soon adapt to attain the same position in the global context. Therefore, studying both countries' corporate governance is necessary in order for other developing countries to
Independence of Auditors The objective of this study is to consider the statement as follows: "Unquestionably, the HIH story is also one of auditor failure" and to research into the background of the HIH collapse in Australia insofar as it relates to the role of auditors and their liability. A report will be prepared with summaries of the most important documents concerning this issue of auditor independence after the HIH collapse,
Limitations of the Research or Gaps A Critical Analysis of the Business Judgement Rule under the Australian Corporation Law There have been many large businesses which have collapsed unexpectedly to cause irreparable damage to the investors worldwide in recent years. The most recent and larger cases are those of the fall of the mighty U.S.-based Enron International and the Australian firm, HIH Insurance. These cases shook the faith of the stakeholders
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