Integrated reporting and directors’ concerns about personal liability exposure: Law reform options

Integrated reporting () holds significant promise as a new reporting paradigm that is holistic, strategic, responsive, material, and relevant across multiple time frames. However, its uptake in Australia is being hampered by directors’ concerns about personal liability exposure, particularly for forward-looking statements that subsequently prove to be unfounded. This article seeks to illuminate the bases for these liability concerns by outlining the similarities between and the operating and financial review requirements under the Corporations Act 2001 (Cth), and the relevant grounds for liability for misleading and deceptive disclosures, and breach of directors’ duties. In light of this discussion, this article proposes four possible reform options, ranging from minor adaptations to the Framework to far-reaching reforms of the Corporations Act. As assurance is desirable to ensure that reliance can be placed on integrated reports, the development of a legal safe harbour for auditors of forward-looking information is also canvassed.

An evaluation of the effectiveness of Value-at-Risk (VaR) models for Australian banks under Basel III

This study compares Value-at-Risk (VaR) measures for Australian banks over a period that includes the Global Financial Crisis (GFC) to determine whether the methodology and parameter selection are important for capital adequacy holdings that will ultimately support a bank in a crisis period. VaR methodology promoted under Basel II was largely criticised during the GFC for its failure to capture downside risk. However, results from this study indicate that 1-year parametric and historical models produce better measures of VaR than models with longer time frames. VaR estimates produced using Monte Carlo simulations show a high percentage of violations but with lower average magnitude of a violation when they occur. VaR estimates produced by the ARMA GARCH model also show a relatively high percentage of violations, however, the average magnitude of a violation is quite low. Our findings support the design of the revised Basel II VaR methodology which has also been adopted under Basel III.

Transnationalism and the Karen wrist-tying ceremony: An ethnographic account of Karen settlement practice in Brisbane

When settling, people often use cultural schema from their original homeland to build familiarity in unfamiliar surrounds. This paper draws on ethnographic fieldwork conducted by the first author in Brisbane, with the Karen community from Burma, during which participant observation and interview methods were used. We present an ethnographic account of the Brisbane Karen wrist-tying ceremony. The ceremony acts as an insight into the challenges for Karen whilst settling into Australia. It reflects multiple accounts of history and tradition, but simultaneously speaks to emerging, contemporary Karen contexts. This research contributes to richer understandings of settlement: it frames transnational cultural practice as a flexible mode of integration, rather than an exclusionary mode of othering. We propose that the integrative discourse of the ceremony creates familiarity and social connection in local and diasporic spaces. This acts as a counter to the challenges of Karen settlement including the negotiations of local/global identity politics.

Refined Plastic Hinge Analysis of Steel Frame Structures Comprising Non-Compact Sections: I: Formulation

Application of "advanced analysis" methods suitable for non-linear analysis and design of steel frame structures permits direct and accurate determination of ultimate system strengths, without resort to simplified elastic methods of analysis and semi-empirical specification equations. However, the application of advanced analysis methods has previously been restricted to steel frames comprising only compact sections that are not influenced by the effects of local buckling. A concentrated plasticity formulation suitable for practical advanced analysis of steel frame structures comprising non-compact sections is presented in this paper. This formulation, referred to as the refined plastic hinge method, implicitly accounts for the effects of gradual cross-sectional yielding, longitudinal spread of plasticity, initial geometric imperfections, residual stresses, and local buckling.

Influence of structural sealant joints on the blast performance of laminated glass panels

This paper investigates the influence of structural sealant joints on the blast performance of laminated glass (LG) panels, using a comprehensive numerical procedure. A parametric study was carried out by varying the width, thickness and the Young’s modulus (E) of the structural silicone sealant joints and the behavior of the LG panel was studied under two different blast loads. Results show that these parameters influence the blast response of LG panels, especially under the higher blast load. Sealant joints that are thicker, have smaller widths and lower E values increase the flexibility at the supports and hence increase the energy absorption of the LG panel while reducing the support reactions. Results also confirmed that sealant joints designed according to current standards perform well under blast loads. Modeling techniques presented in this paper could be used to complement and supplement the guidance in existing design standards. The new information generated in this paper will contribute towards safer and more economical designs of entire facade systems including window glazing, frames and supporting structures.

A "Candidate-Interactome" Aggregate Analysis of Genome-Wide Association Data in Multiple Sclerosis

Though difficult, the study of gene-environment interactions in multifactorial diseases is crucial for interpreting the relevance of non-heritable factors and prevents from overlooking genetic associations with small but measurable effects. We propose a "candidate interactome" (i.e. a group of genes whose products are known to physically interact with environmental factors that may be relevant for disease pathogenesis) analysis of genome-wide association data in multiple sclerosis. We looked for statistical enrichment of associations among interactomes that, at the current state of knowledge, may be representative of gene-environment interactions of potential, uncertain or unlikely relevance for multiple sclerosis pathogenesis: Epstein-Barr virus, human immunodeficiency virus, hepatitis B virus, hepatitis C virus, cytomegalovirus, HHV8-Kaposi sarcoma, H1N1-influenza, JC virus, human innate immunity interactome for type I interferon, autoimmune regulator, vitamin D receptor, aryl hydrocarbon receptor and a panel of proteins targeted by 70 innate immune-modulating viral open reading frames from 30 viral species. Interactomes were either obtained from the literature or were manually curated. The P values of all single nucleotide polymorphism mapping to a given interactome were obtained from the last genome-wide association study of the International Multiple Sclerosis Genetics Consortium & the Wellcome Trust Case Control Consortium, 2. The interaction between genotype and Epstein Barr virus emerges as relevant for multiple sclerosis etiology. However, in line with recent data on the coexistence of common and unique strategies used by viruses to perturb the human molecular system, also other viruses have a similar potential, though probably less relevant in epidemiological terms. © 2013 Mechelli et al.

'Sink or swim': An evaluation of the clinical characteristics of individuals with high bone mass

Summary High bone mineral density on routine dual energy X-ray absorptiometry (DXA) may indicate an underlying skeletal dysplasia. Two hundred fifty-eight individuals with unexplained high bone mass (HBM), 236 relatives (41% with HBM) and 58 spouses were studied. Cases could not float, had mandible enlargement, extra bone, broad frames, larger shoe sizes and increased body mass index (BMI). HBM cases may harbour an underlying genetic disorder. Introduction High bone mineral density is a sporadic incidental finding on routine DXA scanning of apparently asymptomatic individuals. Such individuals may have an underlying skeletal dysplasia, as seen in LRP5 mutations. We aimed to characterize unexplained HBM and determine the potential for an underlying skeletal dysplasia. Methods Two hundred fifty-eight individuals with unexplained HBM (defined as L1 Z-score ≥ +3.2 plus total hip Z-score ≥ +1.2, or total hip Z-score ≥ +3.2) were recruited from 15 UK centres, by screening 335,115 DXA scans. Unexplained HBM affected 0.181% of DXA scans. Next 236 relatives were recruited of whom 94 (41%) had HBM (defined as L1 Z-score + total hip Z-score ≥ +3.2). Fifty-eight spouses were also recruited together with the unaffected relatives as controls. Phenotypes of cases and controls, obtained from clinical assessment, were compared using random-effects linear and logistic regression models, clustered by family, adjusted for confounders, including age and sex. Results Individuals with unexplained HBM had an excess of sinking when swimming (7.11 [3.65, 13.84], p < 0.001; adjusted odds ratio with 95% confidence interval shown), mandible enlargement (4.16 [2.34, 7.39], p < 0.001), extra bone at tendon/ligament insertions (2.07 [1.13, 3.78], p = 0.018) and broad frame (3.55 [2.12, 5.95], p < 0.001). HBM cases also had a larger shoe size (mean difference 0.4 [0.1, 0.7] UK sizes, p = 0.009) and increased BMI (mean difference 2.2 [1.3, 3.1] kg/m 2, p < 0.001). Conclusion Individuals with unexplained HBM have an excess of clinical characteristics associated with skeletal dysplasia and their relatives are commonly affected, suggesting many may harbour an underlying genetic disorder affecting bone mass.

Genome-wide association study identifies eight loci associated with blood pressure

Elevated blood pressure is a common, heritable cause of cardiovascular disease worldwide. To date, identification of common genetic variants influencing blood pressure has proven challenging. We tested 2.5 million genotyped and imputed SNPs for association with systolic and diastolic blood pressure in 34,433 subjects of European ancestry from the Global BPgen consortium and followed up findings with direct genotyping (N 71,225 European ancestry, N 12,889 Indian Asian ancestry) and in silico comparison (CHARGE consortium, N = 29,136). We identified association between systolic or diastolic blood pressure and common variants in eight regions near the CYP17A1 (P = 7 × 10 24), CYP1A2 (P = 1 × 10 23), FGF5 (P = 1 × 10 21), SH2B3 (P = 3 × 10 18), MTHFR (P = 2 × 10 13), c10orf107 (P = 1 × 10 9), ZNF652 (P = 5 × 10 9) and PLCD3 (P = 1 × 10 8) genes. All variants associated with continuous blood pressure were associated with dichotomous hypertension. These associations between common variants and blood pressure and hypertension offer mechanistic insights into the regulation of blood pressure and may point to novel targets for interventions to prevent cardiovascular disease.

Disaster management in Nepal: Media engagement in the Post-2015 Framework for Disaster Risk Reduction

Nepal, as a consequence of its geographical location and changing climate, faces frequent threats of natural disasters. According to the World Bank’s 2005 Natural Disasters Hotspots Report, Nepal is ranked the 11th most vulnerable country to earthquake and 30th to flood risk. Geo-Hazards International (2011) has classified Kathmandu as one of the world’s most vulnerable cities to earthquakes. In the last four decades more than 32,000 people in Nepal have lost their lives and annual monetary loss is estimated at more than 15 million (US) dollars. This review identifies gaps in knowledge, and progress towards implementation of the Post Hyogo Framework of Action. Nepal has identified priority areas: community resilience, sustainable development and climate change induced disaster risk reduction. However, one gap between policy and action lies in the ability of Nepal to act effectively in accordance with an appropriate framework for media activities. Supporting media agencies include the Press Council, Federation of Nepalese Journalists, Nepal Television, Radio Nepal and Telecommunications Authority and community based organizations. The challenge lies in further strengthening traditional and new media to undertake systematic work supported by government bodies and the National Risk Reduction Consortium (NRRC). Within this context, the ideal role for media is one that is proactive where journalists pay attention to a range of appropriate angles or frames when preparing and disseminating information. It is important to develop policy for effective information collection, sharing and dissemination in collaboration with Telecommunication, Media and Journalists. The aim of this paper is to describe the developments in disaster management in Nepal and their implications for media management. This study provides lessons for government, community and the media to help improve the framing of disaster messages. Significantly, the research highlights the prominence that should be given to flood, landslides, lightning and earthquakes.

Borders, belonging, beyond: New curriculum history

For Iain Chambers, understanding the redefinition of social life and hence of social theories is not aided by splitting the analytical register simply between global and local. This is especially problematic if global is taken to mean the dispersal of an already-dominant or privileged version of the local within wider coordinates that ensure the continuation of forms of representation and frames of reference that are familiar and over-exposed. The chapters in New Curriculum History take up the challenge posed by Chambers, collectively confronting the dread of a rationality confronted with what exceeds and slips its grasp. Finding purchase and continually slipping away from the strictures of the taken-for-granted and of fixity, New Curriculum History embodies the dueling reverberations of its non-localizable domains – in some ways, a shaping by its pasts and in others, contributions irreducible to dominant narratives about the field of education and “its” histories...

Provinicializing curriculum? On the preparation of subjectivity for globality

The recent availability of international forums devoted expressly to discussing subfields of education such as curriculum studies has brought to visibility preexisting flashpoints that are not easily defused by strict adherence to definition of key terms. The difficulty of translating the term curriculum into “non”-Indo-European root languages, as well as among them, is a case in point and not just an issue of vocabulary. The difficulty of translation indexes a cleavage that is beyond-conceptual and exo-technical. Efforts to locate analogs or equivalents might suggest on the one hand, an ethnocentric preoccupation to extend the reach of a provincial concept (i.e., curriculum), while the effort to avoid or move to the side of such a preoccupation for translation might suggest structures of subjectivity that refuse co-option into foreign frames of reference. Both of these possibilities are, however, constitutive of and pointing to productive interstices from which to reengage and rephrase the weight given to subjectivity and language, to global/local divisions, and to the politics of traveling discourses in educational research.

Reflections on damaged modernity: Lessons from the iconic architecture industry

For Adorno writing in 1953, Hollywood cinema was a medium of “regression” based on infantile wish fulfillment manufactured by the industrial repetition of the filmic image that he called a modern “hieroglyphics”—like the archaic language of pictures in Ancient Egypt, which guaranteed immortality after death in Egyptian burial rites. From that 1953 essay Prolog zum Fernsehen to Das Schema der Massenkultur in 1981, Adorno likened film frames to cultural ideograms: What he called the filmic “language of images” (Bildersprache) constituted a Hieroglyphenschrift that visualised forbidden sexual impulses and ideations of death and domination in the unconscious of the mass spectator. In his famous passage he writes, “As image, the image-writing (Bilderschrift) is a medium of regression, where the producer and consumer coincide; as writing, film resurrects the archaic images of modernity.” In other words, cinema takes the spectator on a journey into his unconscious in order to control him from within. It works, because the spectator begins to believe the film is speaking to him in his very own image-language (the unconscious), making him do and buy whatever capitalism demands. Modernity for Adorno is precisely the instrumentalisation of the collective unconscious through the mediatic images of the culture industry.

Sri Lankan entrepreneurs in Australia: Chance or choice?

Purpose Ethnic entrepreneurship is, and always has been, a means of survival. However, there is limited literature on ethnic entrepreneurship in Australia and therefore, an understanding of ethnic entrepreneurs’ motivations to become self-employed. The purpose of this paper is to report the influential factors in the decision to engage in self-employment through case studies of members of Melbourne’s Sri Lankan community informed by the mixed embeddedness approach. Design/methodology/approach The mixed embeddedness approach frames the study where the authors examine the motivations for business of five Sri Lankan entrepreneurs. Narratives are used to construct individual case studies, which are then analyzed in terms of the motivations for, resources used and challenges faced on the entrepreneurial journey. Findings For these ethnic entrepreneurs, their entrepreneurial activity results from a dynamic match between local market opportunities and the specific ethnic resources available to them at the time of founding. The self-employment decision was not prompted by a lack of human capital but an inability to use that human capital in alternative means of employment at specific points in time. Moreover the authors highlight the importance of social and cultural capital as resources used to overcome challenges on the entrepreneurial journey. Originality/value In this community, entrepreneurship was not a result of a lack of human capital but how it was utilized in combination with social and cultural capitals in the given opportunity structure. The mixed embeddedness approach enables the uncovering of how ethnic network ties were used in light of the opportunities available to build entrepreneurial activity.

Using children's picture books and process drama to develop students' critical literacy responses

This workshop introduces a range of process drama activities to develop students' critical literacy responses. Whilst children's picture books and process drama strategies have not traditionally been seen as sophisticated resources and strategies for developing students' critical literacy responses, this workshop shows teaching strategies that can be used in language instruction in primary classrooms with diverse student groups. The teaching activities include ‘attribute lists’, ‘sculptures’ and ‘freeze frames’.

Empowering PNG Women through Building Media Arts Production Capacity as Cultural Drivers: Showreel

The creative work comprises six short digital screen stories and emerges from a collaboration between the Discipline of Film Screen and Animation at Queensland University of Technology and the Centre for Social and Creative Media at University of Goroka, funded via the Department of Foreign Affairs and Trade's Australia Awards Fellowship. Six fellows traveled from Papua New Guinea to Brisbane for a two-week intensive course to learn the advanced skills necessary in order to create media that will empower women and girls to make more of their own economies in Papua New Guinea, and increase the representation of women and their well-being through leadership and decision-making. The resulting creative work is evidence of innovative media teaching-making methods designed to build human and cultural assets in PNG and address the increasing demand for media materials driven by the influx of mobile phones and internet services. The creative work provides a platform to directly address and positively impact gender issues in PNG and builds on the success of the Pawa Meri project, which trained six female directors to tell stories of women in leadership roles in PNG. One of the directors was a producer of this creative work. The creative work frames but problematises the complex issues influencing gender equity through the selection of content and narrative structures in ways which address the dynamics of male/female relationships and power in PNG society and will include strategies to illustrate transformed male and female behaviours. The creative work adopts a scaffolded approach, incorporating the findings of the Train the Trainer approach developed by UoG and QUT for the Life Drama research project. The creative work takes into account current developmental themes and approaches in the production of rich media products, and skills the key participants so that they are able to in turn train others in the wider community. The creative work was presented to partners and key stakeholders on 3 July 2015 at the Glasshouse, QUT Creative Industries Precinct and at the Dean’s Research Seminar Poster Exhibition 15 July 2015 at Room 212-213, Level 2, J Block, Gardens Point QUT and subsequent eBook. It has since returned to PNG to be showcased and distributed, and the skills and strategies disseminated.