Corporate governance failure and its impact on National Australia Bank's performance

The National Australia Bank (NAB) is the largest financial services institution listed on the Australian stock exchange and is within the 30 most profitable financial services organisation in the world. In January 2004, the bank disclosed to the public that it had identified losses relating to unauthorised trading in foreign currency options amounting to AUD360 million. Thisforeign exchange debacle was classified as operational risk, the risk of loss resulting from inadequate or failed processes, people, or systems and reiterated the importance of corporate governance for banks. Concurrent issues of National Australia Bank's AUD4.1 billion loss on US HomeSide loans in 2001, the degree of strength of their risk management practices and lack of auditor independence, were raised by the US Securities and Exchange Commission in 2004, reinforcing the view that corporate governance had not been given the priority it deserved over a number of years. This paper will assess and critically analyse the impact of corporate governance failure by management and Board of Directors on NAB's performance over the years 2001-2005.

Virtual world security inspection : a software inspection process carried out on popular virtual world environments

 Virtual property theft is a serious problem that exists in virtual worlds. Legitimate users of these worlds invest considerable amounts of time, effort and real-world money into obtaining virtual property, but unfortunately, are becoming victims of theft in high numbers. It is reported that there are over 1 billion registered users of virtual worlds containing virtual property items worth an estimated US$50 billion dollars. The problem of virtual property theft is complex, involving many legal, social and technological issues. The software used to access virtual worlds is of great importance as they form the primary interface to these worlds and as such the primary interface to conduct virtual property theft. The security vulnerabilities of virtual world applications have not, to date, been examined. This study aims to use the process of software inspection to discover security vulnerabilities that may exist within virtual world software – vulnerabilities that enable virtual property theft to occur. Analyzing three well know virtual world applications World of Warcraft, Guild Wars and Entropia Universe, this research utilized security analysis tools and scenario testing with focus on authentication, trading, intruder detection and virtual property recovery. It was discovered that all three examples were susceptible to keylogging, mail and direct trade methods were the most likely method for transferring stolen items, intrusion detection is of critical concern to all VWEs tested, stolen items were unable to be recovered in all cases and lastly occurrences of theft were undetectable in all cases. The results gained in this study present the key problem areas which need to be addressed to improve security and reduce the occurrence of virtual property theft.

Through the looking glass : teaching and learning in blended immersive multiuser virtual and real world environments

This paper reports on the participation of higher education students and educators in blended immersive multi user virtual (MUVE) environments and real life teaching and learning experiences. Selected next generation technologies engage students and educators within the virtual socially networked elearning landscape of Deakin Arts Education Centre , and support the interaction of communities of learners in multiple modes, ranging from text and images accessed within the Deakin Studies Online learning management system to the "through the looking glass" virtual world in which the user’s creative imagination transports them to the “other side“ of their computer screens.

These constructed environments enable multiple simultaneous participants to access graphically built 3D environments, interact with digital artifacts and various functional tools, and represent themselves through avatars, to communicate with other participants and participate in collaborative art learning.

Immersive interfaces for art education teaching and learning in mixed reality virtual and real world environments

Selected ubiquitous technologies encourage collaborative participation between higher education students and educators within a virtual socially networked e-learning landscape. Multiple modes of teaching and learning, ranging from real world experiences, to text and digital images accessed within the Deakin Studies Online learning management system and a constructed virtual world in which the user’s creative imagination transports them to the “other side” of their computer screens is discussed in this paper. These constructed environments support interaction between communities of learners and enable multiple simultaneous participants to access graphically built 3D environments, interact with digital artifacts and various functional tools and represent themselves through avatars, to communicate with other participants and engage in collaborative art learning. A narrative interpretative research approach was used to profile the 21st century higher education student learner, to investigate the lived experience and multiple art learning perspectives documented in student visual journal entries and art educator observations to ascertain if an e-technology rich augmented learning environment resulted in the establishment of more effective e-learning communities of practice.

Curtain call - end of the world party

BLINDSIDE’s project presented as part of our 'Curtain Call' curated event series, brings together artists who tease out notions of catastrophe, celebration and transformation against the backdrop of the last party on earth.
The 5,125 year Mayan Calendar comes to an end on the 21st of December and BLINDSIDE has invited artists to consider this cataclysmic event for its annual program Curtain Call.

Fresh from the LA Art Fair, Adelaide-based artist Patrick Rees along with Melbourne-based artists Kirsty Audrey Hulm, Boe-Lin Bastian, Drew Pettifer and Joel Zika & Simon Pericich consider the possibilities.

International and regional perspectives on the state of world heritage

A presentation marking the 40th anniversary of the World Heritage Convention, identifying some key challenges in its implementation. The presentation concludes with some proposals for joint work by Australian natural and cultural heritage conservation organisations.

Corporate governance failure and its impact on National Australia Bank's performance

The National Australia Bank (NAB) is the largest financial services institution listed on the Australian stock exchange and is within the 30 most profitable financial services organisation in the world. In January 2004, the bank disclosed to the public that it had identified losses relating to unauthorised trading in foreign currency options amounting to AUD360 million. This foreign exchange debacle was classified as operational risk, the risk of loss resulting from inadequate or failed processes, people, or systems and reiterated the importance of corporate governance for banks. Concurrent issues of National Australia Bank’s AUD4.1 billion loss on US HomeSide loans in 2001, the degree of strength of their risk management practices and lack of auditor independence, were raised by the US Securities and Exchange Commission in 2004, reinforcing the view that corporate governance had not been given the priority it deserved over a number of years. This paper will assess and critically analyse the impact of corporate governance failure by management and Board of Directors on NAB’s performance over the years 2001-2005.

Colonial designs: Thomas Karsten and the planning of urban Indonesia

Thomas Karsten (1885 – 1945) is undoubtedly a major figure in the history of architecture and town planning in Indonesia. Between 1915 and 1941 he was involved in town planning in 12 of the 19 municipalities and towns in Java (the most prominent exception being Surabaya) 3 of the 9 towns in Sumatra, and the only town in Borneo This paper does not attempts to investigate or question his importance in this field but to place his architectural and town planning ideas in the context of his broader politico-cultural ideas and activities in the Dutch East Indies between 1914 and 1942, and these, in turn, in the context of an evolving colonialism and colonial discourse.

Proceedings : 10th International Multimedia Modeling Conference : MMM 2004 : Brisbane, Australia, 5-7 January 2004

The International Multimedia Modelling conference series is an annual forum to discuss the efficient representation, processing, interaction, integration, communication, and retrieval of multimedia information.
In particular, the 10th International Multimedia Modelling Conference (MMM2004) concentrates on common modelling frameworks for integrating the diverse fields of visual, audio, video, and
virtual world information.
MMM2004 deals with emerging Multimedia Modelling topics including:
• Multimedia Databases
• Audio Processing, Coding and Encryption
• Network Games and Animation
• Video Applications
• Multimedia Frameworks and QoS
• Topological and 3D Geometric Modelling
• Image Applications
• Image Retrieval
• Modelling / Editing / Virtual Environment
• Video Retrieval and Browsing