Lobbying the auditing practices board : analysis of responses to the expanded audit report

In 1993 the Auditing Practice Board (APB) in the United Kingdom issued Statement of Auditing Standard 600, Auditors’ Reports on Financial Statements. The new expanded audit report was issued in an attempt to reduce the audit expectations gap. Prior to the issuing of this standard the APB issued a Consultative Document in 1991 and an Exposure Draft in 1992. In this paper we investigate the comments made to the APB by respondents to these two documents. We found that a number of respondents doubted whether the new standard was of itself sufficient to reduce the expectations gap. In addition, we found that where respondents made substantive suggestions for changes to the proposed standard these generally were not implemented by the APB.

Legislative impact on the mortgagee’s exercise of power of sale : the need for rationalisation

Throughout Australia, regulation of the power of sale is highly inconsistent. In response to the uncertain nature of the mortgagee’s duty at common law, many legislatures have intervened. As a result, there has been a proliferation of statutory formula conferring varying degrees of protection on mortgagors. The differences in approach indicate a lack of consensus as to the best method of regulation. This article exposes the extent of the inconsistency and provides a comparative assessment of the various provisions with reference to the policy concerns that underpin legislative intervention. The article identifies a number of deficiencies associated with existing provisions and concludes that mortgagees and mortgagors alike would benefit from improved clarity and consistency. To that end, the article proposes a model provision that seeks to address the deficiencies identified.

The ACNC's new governance rules

Australian charities have a new regulator in the form of the Australian Charities and Not-for-profits Commission (ACNC) which began operations in December 2012; and new governance rules which applied from 1 July 2013. While there is some uncertainty over the ACNC's future, the new legislative framework currently applies to approximately 58,000 charities which seek federal tax concessions and other benefits, and includes governance standards that apply across charitable organisational forms (company, trust and association) with some exceptions. The governance standards are a minimum benchmark that many charities will already meet, if they are companies or incorporated associations.

Mandatory Reporting Laws for Child Sexual Abuse in Australia : A Legislative History

This work conducts a comprehensive historical review and analysis of the legislative principles for mandatory reporting of child sexual abuse in each State and Territory of Australia. The research traces and explains all the significant changes in the development of the laws in each jurisdiction since their inception in 1969 to the year 2013. The research also identifies why the legislation changed in each jurisdiction, covering research into publicly available records, focusing on significant government inquiries and law reform reports, and parliamentary debates. The research is situated within a treatment of the modern discovery of child sexual abuse as a widespread phenomenon of significant public health concern.

Spontaneous and episodic volunteers: The legislative, insurance and risk management framework

Baby Boomers are a generation of life long association joiners, but following generations prefer spontaneous and episodic volunteering. This trend is apparent not only during natural disasters, but in most other spheres of volunteering. Legal liability for such volunteers is a growing concern, which unresolved, may dampen civic participation. We critically examine the current treatment of these liabilities through legislation, insurance and risk management.

Auditing design and innovation programmes within a multinational insurance provider

The financial services industry is key to the success of the Australian economy, however even established businesses need to continually push to innovate. At present, design is becoming widely accepted as means to innovate and many companies currently have design and innovation programmes. The goal of these programmes is to foster a design capability amongst staff members. However, little is known as to the impact of the innovation capabilities such design programmes claim to instil. Therefore, this paper seeks to investigate how a financial services firm is currently attempting to build a design capability amongst staff members. Using a case study approach the research team audited four design capability programmes currently being deployed by the case firm. The study highlights the strengths and weaknesses of current efforts by the firm and current barriers to achieving design capability. The implications of this paper include key insights for both academics and industry.

Assessing taxpayer response to legislative changes: A case study of ‘in-house’ fringe benefits rules

On 22 October 2012, the Australian Federal Government announced the removal of the $1,000 in-house fringe benefits concession when used as part of a salary packaging arrangement. At the time of the announcement, the Federal Government predicted that the removal of the concession would contribute additional tax revenue of $445 million over the following four years as well as an increase of GST payments to the States and Territories. However, anecdotal evidence at the same time indicated that the Australian employer response was to immediately stop providing employees with such in-house fringe benefits via salary sacrificing arrangements. Data presented in this article, collected from a combination of interviews with tax managers of four Australian entities as well as a review of the published archival data, confirms that the abolition of the $1,000 in-house fringe benefits concession was perceived as a negative change, whereby employees were considered the ‘big losers’ despite assertions by the Federal Government to the contrary. Using a conceptual map of tax rule change developed by Oats and Sadler, this article seeks to understand the reasons for this fringe benefits tax change and taxpayer response. In particular, the economic and political factors, and the responses of the relevant taxpayers (employers) are explored. Drawing on behavioural economic concepts, the actions, attitudes and response of employers to the rule change are also examined. The research findings suggest that the decision by Australian employers to cease providing the in-house fringe benefits as part of a salary-packaging arrangement after the legislative amendment was impacted by more than simple rational behaviour.

Analysis of the legislative framework in the Brazilian policymaking process

Analisa os aspectos da estrutura política brasileira que contribuem para falhas nos processos decisórios e ineficácia nos resultados finais de políticas de governo, com ênfase nos problemas institucionais do poder legislativo. Aborda os seguintes tópicos: fragmentação do sistema partidário, infidelidade partidária, modelo de federalismo, preenchimento de cargos públicos, larga utilização de medidas provisórias, disfunções do processo legislativo.

Transparência do orçamento público no poder legislativo federal : informações disponíveis à sociedade na internet

Avalia se as informações orçamentárias disponibilizadas à sociedade brasileira na Internet pelo Poder Legislativo Federal atendem à transparência nos processos de discussão e de aprovação do orçamento público. Tal objetivo é alcançado após o cotejamento das informações disponíveis nos endereços eletrônicos da Câmara dos Deputados, do Senado Federal e da Comissão Mista de Planos, Orçamentos Públicos e Fiscalização – CMO com aquelas disponíveis em outros países, previamente selecionados, que disponibilizam informações orçamentárias em sítios da Internet. A partir daí, são identificadas eventuais necessidades e oportunidades de melhoria para o Brasil. Sedimentam as bases do trabalho referências bibliográficas que buscam relacionar transparência fiscal com transparência orçamentária, e sua importância para a cidadania. São estabelecidas variáveis a serem pesquisadas nos diversos países e, mediante análise quali-quantitativa, é possível analisar a situação dos países selecionados e compará-la à situação do Brasil. Os resultados mostram que o Brasil se encontra à frente dos países pesquisados, em termos de divulgação de informações orçamentárias pelo Poder Legislativo. No entanto, são propostas melhorias quanto à qualidade das informações divulgadas, no sentido de disponibilizá-las de maneira mais sucinta e simples, bem como quanto à disponibilização das informações em um portal de orçamento público único do Poder Legislativo. Assim, pretende-se alcançar o cidadão comum, que não possui conhecimento técnico a respeito das questões orçamentárias. Sugere-se, ainda, que estudos futuros examinem a relação entre cidadania e divulgação de informações orçamentárias.

Group size and decision rules in legislative bargaining

We conduct experiments to investigate the effects of different majority requirements on bargaining outcomes in small and large groups. In particular, we use a Baron-Ferejohn protocol and investigate the effects of decision rules on delay (number of bargaining rounds needed to reach agreement) and measures of "fairness" (inclusiveness of coalitions, equality of the distribution within a coalition). We find that larger groups and unanimity rule are associated with significantly larger decision making costs in the sense that first round proposals more often fail, leading to more costly delay. The higher rate of failure under unanimity rule and in large groups is a combination of three facts: (1) in these conditions, a larger number of individuals must agree, (2) an important fraction of individuals reject offers below the equal share, and (3) proposers demand more (relative to the equal share) in large groups.