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  • Case 1.1 Robert Maxwell-1

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    Zubair Bhatti
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    Robert Maxwell abused his position as Chairman of the trustees of the company's pension funds by not properly performing his fiduciary duties and putting corporate greed over the interests of employees. He misled top management and non-executive directors due to a lack of transparency. Both the trustees of the pension funds and the auditors failed to catch issues related to Maxwell's behavior. Independent directors, more attentive trustees, strengthened audit committees, and more diligent auditors may have helped resolve the problems.

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    Corporate Governance

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    Robert Maxwell abused his position as Chairman of the trustees of the company's pension funds by not properly performing his fiduciary duties and putting corporate greed over the interests of employees. He misled top management and non-executive directors due to a lack of transparency. Both the trustees of the pension funds and the auditors failed to catch issues related to Maxwell's behavior. Independent directors, more attentive trustees, strengthened audit committees, and more diligent auditors may have helped resolve the problems.

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    © All Rights Reserved
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    84 views4 pages

    Case 1.1 Robert Maxwell-1

    Uploaded by

    Zubair Bhatti
    Robert Maxwell abused his position as Chairman of the trustees of the company's pension funds by not properly performing his fiduciary duties and putting corporate greed over the interests of employees. He misled top management and non-executive directors due to a lack of transparency. Both the trustees of the pension funds and the auditors failed to catch issues related to Maxwell's behavior. Independent directors, more attentive trustees, strengthened audit committees, and more diligent auditors may have helped resolve the problems.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    Case Study 1.

    1
    Robert

    Zunaira Zaka 17L-6203


    Farrukh Jamil 17L-6213
    Ahsan Mahmood 17L-6214
    Muhammad Zubair 17L-6217
    Mahnoor Munir 17L-6227
    Crucial Areas in the case

    Maxwell was not suitable for Stewardship


    (Govt. appointed inspectors).

    Abused his position as Chairman of trustees


    of Groups Pension funds. Fiduciary duties
    NOT performed.

    Aggressive and Dominant style combined


    with corporate greed
    Crucial Areas in the case (contd)

    Misled Top management and Non Executive


    directors due to lack of communication and
    transparency

    Failings of trustees of Group pension Funds.

    Auditors missed out the facts.


    How problems could have
    been resolved
    The independent Non executive directors should
    have been more independent and able to stand
    up to any threats by Maxwell.

    Trustees should have been more focused on the


    performance of the pension funds.

    Audit committees would have helped set the


    direction for operational performances.

    The statutory Auditors should have asked for greater


    information from the client companies.

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