Required

(a)      Identify three key stakeholders in the case above. Identify why each is a key stakeholder by discussing two competing objectives each stakeholder might have in this case.

(b)     For each of the stakeholders identified in (a) identify and explain a relevant theory. Discuss why each theory is relevant for the stakeholder by applying the theory to the facts in the case and using examples derived from the case.

Westpac scandal: Apra launches full investigation into bank over child exploitation allegations Apra also added $500m capital requirement, bringing total capital penalty imposed on the bank to $1bn Ben Butler Tue 17 Dec 2019 10.08 AEDT The prudential regulator has launched a full-scale investigation into Westpac over its money- laundering and child exploitation scandal that could result in bank directors and executives being kicked out of the industry. And the Australian Prudential Regulation Authority told Westpac it must set aside an additional $500m in capital, bringing the total capital penalty imposed on the bank since the middle of the year to $1bn. Apra said it would also review Westpac's governance of risk, including executive accountability and remuneration. The investigation comes after Australia's financial intelligence agency, Austrac, launched legal action against Westpac last month alleging the bank breached anti-money-laundering and counter-terrorism finance laws 23m times, including by allowing customers to transfer money to the Philippines in a manner consistent with child exploitation.