FORMATIVE ASSESSMENT 2 [100 Marks] Steinhoff scandal has been selected a recent corporate scandal of your choice and through research, perform the following task: QUESTION ONE (100 Marks) Answer ALL the questions in this section. 1.1 Provide a description of the company and an overview of the scandal. (20 Marks) 1.2 With the aid of a diagram, identify and discuss the stakeholders to corporate governance as it pertains to the scandal. Critically evaluate the role of the parties that have played or ought to have played. According to your research, identify the party that you hold the most responsible for the scandal. (20 Marks) 1.3 Scandals are often linked to personality risks. Based on answers provided in Question 1.2, discuss the four (4) most applicable mechanisms through which personality risks in corporate governance may be managed in relation to the identified scandal. Elaborate on any mechanism/s that might have or in the process of being implemented. (20 Marks) 1.4 The King Code contains both principles and recommended practices aimed at achieving governance outcomes. The King IV Code provides the 16 principles and 208 recommended practices that should assist the governing body and the organisation in attaining good corporate citizen status and governance outcomes. Discuss the applicability of the King IV Code and evaluate the alignment of the selected involved entities practices against the recommended ones in terms of the 2nd principle of the King IV Code. (20 Marks) 1.5 Organisations that have embraced Governance, Risk & Compliance (GRC) have found that there are a range of common elements that go right across successfully integrated governance, risk and compliance policies, processes and procedures as identified (Mallin, 2015). Evaluate the level to which the selected entity involved in the scandal had embraced GRC. (20 Marks