The existence and nature of risk management committees in Australian companies

A risk management committee (RMC), as a newly evolving sub-committee of the board of directors, functions as a key governance support mechanism in the oversight an organisation’s risk management strategies, policies and processes. However, empirical evidence on the factors associated with the existence and the type of RMCs remains scant. Using an agency theory perspective, this study investigates the association between board factors such as proportion of non-executive directors, CEO duality, and board size; as well as, other firm-related factors (e.g. auditor type, industry, leverage, and complexity), and (1) the existence of a RMC, and (2) the type of RMC (namely, a separate RMC versus one that is combined with the audit committee). Data was collected from the annual reports of the top 300 ASX-listed companies. The results, based on logistic regression analyses, indicate that RMCs tend to exist in companies with an independent board chairman and larger boards. Further, the results also indicate that in comparison to companies with a combined RMC and audit committee, those with a separate RMC are more likely to have larger boards, higher financial reporting risk and lower organisational complexity. The findings of this study provide additional information on the use and design of RMCs in a voluntary setting.

Bioethics : a nursing perspective

The 5th edition of 'Bioethics' provides nursing students with the necessary knowledge and understanding of the ethical issues effecting nursing practice. Groundbreaking in its first edition, Bioethics continues its role as a vital component of nursing education and provides a framework for students to understand the obligations, responsibilities and ethical challenges they will be presented with throughout their careers. This latest edition responds to new and emerging developments in the field and marks a significant turning point in nursing ethics in that it serves not only to inform but also to revitalise and progress debate on the issues presented.

Disquiet on the research front : surveying the battle ground between researchers and human research ethics committees

In this paper, I play with the metaphors of war and peace (with apologies to Leo Tolstoy) as a strategy for describing the relations between (some) social science researchers and human research ethics committees. Even a cursory survey of recent literature reveals a raft of grievances and grumblings amongst researchers about the operation and decisions of research ethics committees. This paper presents a partial survey from both sides of some of the claims that have triggered this unofficial declaration of war, and discusses the implications for ethical research. My central argument is that the truly ethical moment lies in mutual and constructive conversations and critique between ethics committees and researchers.

Bioethics, cultural differences and the problem of moral disagreements in end-Of-life care : a terror management theory

Cultural differences in end-of-life care and the moral disagreements these sometimes give rise to have been well documented. Even so, cultural considerations relevant to end-of-life care remain poorly understood, poorly guided, and poorly resourced in health care domains. Although there has been a strong emphasis in recent years on making policy commitments to patient-centred care and respecting patient choices, persons whose minority cultural worldviews do not fit with the worldviews supported by the conventional principles of western bioethics face a perpetual struggle in getting their care needs met in a meaningful, safe, and healing way. In this essay, attention is given to exploring why cultural differences exist, why they matter, and how health care providers should treat them in order to reduce the incidence and impact of otherwise preventable harmful moral outcomes in end-of-life care. In addressing these questions, a novel application of the renowned terror management theory will be made.

Committees with leaks

We analyze the quality (informativeness and efficiency) of advice obtained from a committee of careerist experts where voting is secret but voting profiles are ‘leaked’ with an exogenously given probability. We show that fully informative voting is achievable only when the common prior is not too informative, the committee uses the unanimity rule and faces random leakage. It is then shown that informativeness and efficiency are mutually exclusive properties of committees with careerist experts.

Do political connections affect the role of independent audit committees and CEO Duality? Some evidence from Malaysian audit pricing

This study examines whether political connection to firms affects the association between audit committee independence and demand for higher quality audits. In line with Carcello et al. (2002), our findings show that there is a positive association between audit committee independence and audit fees thus supporting the hypothesis that more independent audit committees demand higher audit quality. However, we find that this relationship is weaker for politically connected (PCON) firms suggesting that the independence of audit committees in Malaysian PCON firms may be compromised. Additionally, we provide evidence that PCON firms that have CEO duality are perceived by audit firms as being of higher risk than CEO duality firms without political connection.