Ensuring balance in corporate governance : parts 2F.1 and 2F.1A of the Corporations Law

Effective corporate governance must balance the competing, and at times conflicting, objectives of efficient endeavour and accountability. The CLERP amendments to the Corporations Law introduced on 13 March 2000 go a long way towards providing this balance. While the business judgement rule was introduced to promote efficient endeavour, Pts 2F.1 and 2F.1A maintain corporate accountability. This article compares Pts 2F.t and 2F.1A of the Corporations Law. It is argued that, although there are procedural and substantive differences between the two parts that need to be understood by practitioners, the importance of the two Parts is that they work together to provide for a much-needed improvement and enhancement of shareholder rights and remedies, thus upholding accountability in corporate governance.

Introduction: perspectives on work-life balance

Work-life balance has emerged as a major concern for researchers trying to map the dimensions and causes of the issue, for policy makers searching for uncontroversial solutions to the problem and for individuals trying to construct satisfying and productive lives. There is some agreement over the main contributors to the work-life balance 'problem': the increase in female participation in the workforce since the 1960s; changes to work from the mid-1970s, in particular greater work intensification, an increase in alternative work schedules away from the standard working week and the growth of casual jobs (particularly in Australia); and a de-differentiation of roles, which has contributed to greater spill-over between work and other roles.

These factors are embedded in economic, social and cultural changes that characterise the post-World War II development of late capitalism in the more developed economies. Each is itself the result of a set of complex processes of change. We do not attempt here to detail these changes in all their complexity but draw out those elements that are most important in attempting to understand the work-life issue in terms of causal forces, mediating support systems and the effects of work-life balance or 'imbalance' on individuals, households, communities and societies.

This issue of Labour and Industry brings together three papers that focus on different work-life balance issues as a result of differing causal forces, different configurations of work/life activities, varying outcomes and variations in terms of support available. In particular, the problem of work-life balance is examined through an analysis of change in attitudes to mothers working in Australia, a study of agency or labour hire, and a study of young professionals. These papers were first presented at the WorkTimes/LifeTimes Colloquium held in Geelong, Victoria in December 2004. The aim of this colloquium was to explore issues around working time and the impact that this has on other aspects of people's lives. Specialists in the area of working time, time use, employee relations, and work-family came together to share the results of their respective research areas and to debate the theoretical and policy implications of their findings.

Winners or losers? Work/life balance and temporary agency workers

This article focuses upon temporary' agency workers' capacity to balance work/life needs. Two extremes are identified within the Victorian temporary agency labour market. On the one hand, there are skilled temporary agency workers employed in areas of high demand accompanied by labour shortages. Nurses are one such group. At the other extreme, there are skilled and semi-skilled temporary agency workers who face a shortfall in demand for permanent, direct hire employees. Drawing upon a survey and focus groups of temporary agency workers, their potential for achieving a satisfactory work/life balance is assessed in relation to control over working time, income and employment security, and a narrow band of employment conditions. The findings differ substantially between the two groups of agency workers, contributing to significantly different perceptions of the personal benefits of working through a temporary employment agency.

Comparing Australian commonwealth, state and territory budget balance numbers

This article presents the findings from a case study of the 2004–05 annual budgets prepared by the Commonwealth, state and territory governments of Australia. The study examined the headline budget balance (general government sector surplus or deficit) announced in the budget papers and speeches of each of the nine governments. Findings indicate the adoption of varying measurement bases and a consequent lack of comparability in the headlined budget balance numbers. Accounting reforms have resulted in adoption of two different systems of accrual accounting by governments — the Government Finance Statistics (GFS) system and the professional Australian Accounting Standards (AAS) system — which provide significantly different measurements of the budget balance. However, there has been no prescription of the manner in which these alternative measures should be presented. This raises a number of questions from an accounting perspective.

Fatty acid metabolism in the freshwater fish Murray cod (Maccullochella peelii peelii) deduced by the whole-body fatty acid balance method

The whole-body fatty acid balance method was used to investigate the fatty acid metabolism in Murray cod (Maccullochella peelii peelii) fed diets containing canola (CO) or linseed oil (LO). Murray cod were able to elongate and desaturate both 18 : 2n − 6 and 18 : 3n − 3. In fish fed the CO diet, 54.4% of the 18 : 2n − 6 consumed was accumulated, 38.5% oxidized and 6.4% elongated and desaturated to higher homologs. Fish fed the LO diet accumulated 52.9%, oxidized 37% and elongated and desaturated 8.6% of the consumed 18 : 3n − 3. The overall roles of n − 6 fatty acids appeared more important in Murray cod compared to other freshwater species. Murray cod also showed a preferential order of utilization of C18 fatty acid for energy production (18 : 3n − 3 > 18 : 2n − 6 > 18 : 1n − 9). Moreover, it is demonstrated that an increase in dietary 18 : 3n − 3 is directly responsible of increased desaturase activity and augmented saturated fatty acid accumulation in the fish body. The present study also suggests that, in the context of the possible maximization of the natural ability of fish to produce long chain polyunsaturated fatty acids, the whole-body approach can be considered well suited and informative and Murray cod is a suited candidate to fish oil replacement for its diets.

Striking a balance between ethics and ICT governance

Ethics and Information Communication Technology (ICT) Governance both have their place in today’s business organisations, but can their practical applications present an ethical ambiguity for the IT professional employed within the business organisation? The guidelines contained within various codes of ethics recommend principles regarding the ethical behaviour of individual IT professionals. In contrast, IT Governance as outlined in the new Australian Standard for Corporate Governance of Information and Communication Technology (ICT) provides ICT governance advice for business. This paper explores the difference between these viewpoints.

Behind the headlines : an analysis of Australian Commonwealth, State and Territory budget balance numbers

The introduction of accrual accounting principles for government reporting in recent years has been complicated by the presence of two alternative financial reporting frameworks, the Government Finance Statistics (GFS) framework and the Australian professional accounting standard rules. This paper presents the findings from a study of the 2004-05 and 2005-06 annual budgets prepared by the Australian Commonwealth government and the governments of the six Australian States and the two Australian Territories. The study examined the basis for the budget balance numbers (government surplus or deficit) headlined in the budgets of each of the nine governments over the two year period. Findings indicate the adoption of varying measurement bases and a resultant lack of inter-governmental and inter temporal comparability. A number of departures from the measurements
prescribed in the reporting frameworks were also observed.

Evaluation of SWAT for modelling the water balance of the Woady Yaloak River catchment, Victoria

Future land use change will have a profound effect on the water balance of agricultural and rural catchments in Australia. It is therefore imperative that any such consequences likely to arise from impending land use changes are predicted accurately so that strategies can be implemented to minimise or prevent undesirable impacts to the water balance of catchments. SWAT is a comprehensive hydrologic model developed to predict the impacts of land use change on water balance. SWAT has been applied in Australia but it has not yet been widely adopted. The application of SWAT to the Woady Yaloak River catchment in southwest Victoria is described in this paper. SWAT is being evaluated to determine whether it is suitable for modelling the water balance of catchments in the southwest region of Victoria and to determine if it could be adopted as a planning tool to manage land use change. The results achieved in this initial application of SWAT were very pleasing. However it is shown that the groundwater and tree growth components of the model are not entirely adequate. These shortcomings with SWAT affect its ability to accurately model the water balance of catchments in Australia. It is recommended that both these components be modified to improve model performance.

Pricing in the museum sector : the need to balance social responsibility and organisational viability

An essential component of marketing strategy is pricing. Pricing in museums, however, is problematic as issues beyond cost recovery or surplus, such as social responsibilities, need to be considered. This area of marketing is under researched. The aim of this study is to address the research gap by synthesising the literature on pricing strategy in the museum sector. The study found that there are a number of strategies being advocated with regard to pricing in the museum sector in the literature, each representing various perspectives of museology. A research agenda was proposed to assist marketers in the museum sector to meet their organisational needs, whilst balancing their social responsibilities.

Load balance algorithms for anycast

Increasingly, replicated anycast servers are being used to deliver network applications and service ever increasing user requests. Therefore, the strategies used to guarantee network bandwidth prerequisites and perform load balancing across the nodes of an anycast group are critical to the performance of online applications. In this paper, we model user requests, network congestion and latency, and server load using a combination of hydro-dynamics and queuing theory to develop an efficient job distribution strategy. Current, anycast research does not explicitly consider the system load of nodes within an anycast groups when distributing requests. Therefore, the performance of a heavily loaded anycast system can quickly become congested and uneven as jobs are routed to closely linked nodes which are already saturated with requests. In comparison, the nodes of further away systems remain relatively unused because of other issues such as network bandwidth and latency during these times. Our system redirects requests from busy systems to the idle, remotely linked nodes, to process requests faster in spite of slower network access. Using an empirical study, we show this technique can improve request performance, and throughput with minimal network probing overhead.

Integration or collision? : middle managers' concerns for work-life balance

As increased work demands and longer working hours become the reality for many employees, the concept of work-life balance has received increasing attention. This paper presents findings from an exploratory study of Australian middle managers, which investigated the impact of middle managers’ daily organisational experiences on their lives both in and beyond the workplace. We focus on respondents’ concerns for the encroachment of work on their personal lives, both through the advent of new technologies and the introduction of flexibility initiatives in the workplace. The unwelcome effects of frustration, stress and fatigue highlight the need for organisations to gain a better understanding of employees’ experiences related to work-life balance.