Follow the money:the Audit Commission, Public Money and the Management of Public Services, 1983-2008, Duncan Campbell-Smith

Book review: Duncan Campbell-Smith. Allen Lane, 2008, 744 pp., £ 25 (hb), ISBN: 9781846140686

Loan loss provisions, earnings management and capital management under IFRS:the case of EU commercial banks

Prior research has shown that loan loss provisions are primarily used as a tool for earnings management and capital management by listed banks. Effective 2005 all listed companies in the European Union (EU) are required to comply with International Financial Reporting Standards (IFRS). Adherence to IFRS, it is claimed, should enhance transparency of reporting practices relative to local General Accepted Accounting Principles (GAAP). The overall objective of this paper is to examine the impact of the implementation of IFRS on the use of loan loss provisions (LLPs) to manage earnings and capital. We use a sample of 91 EU listed commercial banks covering a period of 10 years (before and after implementation of IFRS). Since early adopters may have different incentives and motivations relative to those who adopt mandatorily, we dichotomize our sample into early and late adopters. Overall, we find that earnings management (using loan loss provisions) for both early and late adopters while significant over the estimation window is significantly reduced after implementation of IFRS. We also find that, for risky banks, earnings management behavior is more pronounced when compared to the less risky banks, but is significantly reduced in the post IFRS period. Capital management behavior by bank managers is not significant in both pre and post IFRS regimes. Overall, we conclude that the implementation of IFRS in the EU appears to have improved earnings quality by mitigating the tendency of bank managers of listed commercial banks to engage in earnings management using loan loss provisions.

Knowledge management and risk management

This article takes the perspective that risk knowledge and the activities related to RM practice can benefit from the implementation of KM processes and systems, to produce a better enterprise wide implementation of risk management. Both in the information systems discipline and elsewhere, there has been a trend towards greater integration and consolidation in the management of organizations. Some examples of this are: Enterprise Resource Planning (Stevens, 2003), Enterprise Architecture (Zachmann, 1996) and Enterprise Content Management (Smith & McKeen, 2003). Similarly, risk management is evolving into Enterprise Risk Management. KM’s importance in breaking down silos within an organization can help it to do so.

Process improvement and quality management systems in the financial services industry:the case for the OPEX quality management system and framework

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Dispersion and nonlinearity-management in mode-locked fibre lasers

In this work we extend theory of dispersion-managed (DM) solitons to dissipative systems with the main focus on applications in mode-locked lasers. In general, pulses in mode-locked fibre lasers experience both nonlinear and dispersion management per cavity round trip. In stretched-pulse lasers, this concept was utilized to obtain high energy pulses. Here we model the pulse propagation in a mode-locked fibre laser with a distributed nonlinear and DM Ginzburg-Landau type equation. We extend existing results on DM solitons and investigate the impact on soliton properties of dissipative perturbations that occur due to the effects of gain amplification, saturable absorption, and loss. In conclusion, in contrast to standard DM solitons in Hamiltonian systems, dissipative DM solitons do exist at high map strengths, thus opening a way for the generation of stable, short pulses with high energy.

An analysis of research on the future of purchasing and supply management

Business organisations are going through rapid external environmental and internal organisational changes due to increasing globalisation, E-business, and outsourcing. As a result, the future of purchasing and supply management—as a function within organisations, as a process that spans organisation boundaries and as a profession—raises important concerns for both organisations and the purchasing professional. This paper considers a broad and rather fragmented body of empirical evidence and analyses 42 relevant empirical studies on the future of purchasing and supply management. The major findings are reported in terms of changes in business contexts, purchasing strategy, structure, role and responsibility, system development and skills. Cross-sectional comparative analyses were also conducted to examine variation by sector, firm type, people's roles in purchasing, and country. A number of major implications for the purchasing function, process and professional bodies are presented together with suggestions for future research to address significant gaps in the current body of knowledge.

Current issues in international HRM:alternative forms of assignments, careers and talent management in a global context

This special issue is dedicated to examining some current issues in international HRM; it contributes mainly to the field of HRM in the multinational enterprise. However, it clearly also draws on knowledge from cross-cultural IHRM. The guest editors have identified three topics that have gained tremendous importance due to the increasing globalisation of the world economy and the war for internationally qualified talent. This not only applies to multinational enterprises, but also to small and medium-sized enterprises, as senior managers are challenged to attract, retain, and motivate global talent: global assignments, global careers and global talent management. While all fields are not new and have partly been subject to prominent publications (e.g., Scullion & Collings, 2011; Cascio, 2013) new and highly relevant research questions continue to emerge and there is still a lack of empirical research in these areas.

A review of non-pharmacological and pharmacological management of seasonal and perennial allergic conjunctivitis

Allergic eye disease encompasses a group of hypersensitivity disorders which primarily affect the conjunctiva and its prevalence is increasing. It is estimated to affect 8% of patients attending optometric practice but is poorly managed and rarely involves ophthalmic assessment. Seasonal allergic conjunctivitis (SAC) is the most common form of allergic eye disease (90%), followed by perennial allergic conjunctivitis (PAC; 5%). Both are type 1 IgE mediated hypersensitivity reactions where mast cells play an important role in pathophysiology. The signs and symptoms are similar but SAC occurs periodically whereas PAC occurs year round. Despite being a relatively mild condition, the effects on the quality of life can be profound and therefore they demand attention. Primary management of SAC and PAC involves avoidance strategies depending on the responsible allergen(s) to prevent the hypersensitivity reaction. Cooled tear supplements and cold compresses may help bring relief. Pharmacological agents may become necessary as it is not possible to completely avoid the allergen(s). There are a wide range of anti-allergic medications available, such as mast cell stabilisers, antihistamines and dual-action agents. Severe cases refractory to conventional treatment require anti-inflammatories, immunomodulators or immunotherapy. Additional qualifications are required to gain access to these medications, but entry-level optometrists must offer advice and supportive therapy. Based on current evidence, the efficacy of anti-allergic medications appears equivocal so prescribing should relate to patient preference, dosing and cost. More studies with standardised methodologies are necessary elicit the most effective anti-allergic medications but those with dual-actions are likely to be first line agents. © 2011 British Contact Lens Association.

Examining the relationship between risk assessment and risk management in mental health

Risk assessment is crucial for developing risk management plans to prevent or minimize mental health patients' risks that will impede their recovery. Risk assessments and risk management plans should be closely linked. Their content and the extent to which they are linked within one Trust is explored. There is a great deal of variability in the amount and detail of risk information collected by nurses and how this is used to develop risk management plans. Keeping risk assessment information in one place rather than scattered throughout patient records is important for ensuring it can be accessed easily and linked properly to risk management plans. Strengthening the link between risk assessment and management will help ensure interventions and care is tailored to the specific needs of individual patients, thus promoting their safety and well-being. Thorough risk assessment helps in developing risk management plans that minimize risks that can impede mental health patients' recovery. Department of Health policy states that risk assessments and risk management plans should be inextricably linked. This paper examines their content and linkage within one Trust. Four inpatient wards for working age adults (18-65 years) in a large mental health Trust in England were included in the study. Completed risk assessment forms, for all patients in each inpatient ward were examined (n= 43), followed by an examination of notes for the same patients. Semi-structured interviews took place with ward nurses (n= 17). Findings show much variability in the amount and detail of risk information collected by nurses, which may be distributed in several places. Gaps in the risk assessment and risk management process are evident, and a disassociation between risk information and risk management plans is often present. Risk information should have a single location so that it can be easily found and updated. Overall, a more integrated approach to risk assessment and management is required, to help patients receive timely and appropriate interventions that can reduce risks such as suicide or harm to others. © 2011 Blackwell Publishing.

Impact of the fiber type and dispersion management on the performance of a NRZ 16 x 40 Gb/s DWDM transmission system

We examine the impact of the fiber type and dispersion management on the performance of a 16 × 40 Gb/s dense wavelength-division-multiplexing nonreturn-to-zero transmission system. The transmission line is composed of G.652 or G.655 fiber with periodic dispersion compensation and hybrid Raman erbium-doped fiber amplifier amplification.

Linking risk and performance management systems

Margaret Woods discusses lessons from the UK's too organizations on integrating risk and performance management.

Impact of the fiber type and nonlinear management over the performance of a 16x40 Gb/s DWDM transmission system

We examine impact of the fiber type and nonlinear management over the performance of a 16x40Gb/s DWDM NRZ transmission system. The line is constituted of 3x100km of G.652 or G.655 fiber with hybrid Raman-EDFA amplification.

Grading and disease management in national screening for diabetic retinopathy in England and Wales

Aims - A National Screening Programme for diabetic eye disease in the UK is in development. We propose a grading and early disease management protocol to detect sight-threatening diabetic retinopathy and any retinopathy, which will allow precise quality assurance at all steps while minimizing false-positive referral to the hospital eye service. Methods - Expert panel structured discussions between 2000 and 2002 with review of existing evidence and grading classifications. Proposals - Principles of the protocol include: separate grading of retinopathy and maculopathy, minimum number of steps, compatible with central monitoring, expandable for established more complex systems and for research, no lesion counting, no ‘questionable’ lesions, attempt to detect focal exudative, diffuse and ischaemic maculopathy and fast track referral from primary or secondary graders. Sight-threatening diabetic retinopathy is defined as: preproliferative retinopathy or worse, sight-threatening maculopathy and/or the presence of photocoagulation. In the centrally reported minimum data set retinopathy is graded into four levels: none (R0), background (R1), preproliferative (R2), proliferative (R3). Maculopathy and photocoagulation are graded as absent (M0, P0) or present (M1, P1). Discussion - The protocol developed by the Diabetic Retinopathy Grading and Disease Management Working Party represents a new consensus upon which national guidelines can be based leading to the introduction of quality-assured screening for people with diabetes.