School of Accounting and Commercial Law

Events

Listed below are forthcoming events either hosted by the School of Accounting and Commercial Law (SACL) or the Centre for Accounting, Governance and Taxation Research (CAGTR) or the Chair in Public Finance.

Not for Profit Seminar 3 - Accounting, governance and charities' registration issues

Date: 27 August 2014

Time: 8.15 am

Venue: VUW, Government Buildings, Lecture Theatre 1, 15 Lambton Quay, Wellington

Registered Charities must comply with the new reporting requirements under the Charities Act from 1 April 2015. Many organisations are reviewing their governance structures and the form of their charity registration in light of the new reporting requirements in order to ensure that these structures and arrangements fit well with their mission and that the ensuing reporting is relevant to all their stakeholders. In this seminar you will be given an update on the new requirements and hear from representatives of three organisations who are responding to the change in different ways.

This seminar will cover:

  • The options, merits and drawbacks of single and group registrations with DIA Charities
  • Challenges in developing an appropriate structure that meets members’ needs – and tips on how to overcome these
  • Getting ready for the expected audit requirements as part of the structural and registration reconsiderations
  • Evaluating discretionary and non-discretionary costs and options in developing costing systems to meet the structure of your organisation

A copy of the Programme is available here.

To register (cost $60 excl GST) please do so here

Keynote Speakers:

Carolyn Cordery, Member, NZ Accounting Standards Board

Carolyn Fowler, Senior Lecturer, School of Accounting and Commercial Law, VBS

Marlies Frew, Business Services Manager, Scouts NZ

Dave Henderson, Coordinator, ANGOA

Lesa Kalapu, General Manager, Charities, Department of Internal Affairs

Peter van Hout, Financial Services Manager, Methodist Church of New Zealand

The impact of a firm's carbon risk profile on the cost of dept capital: Evidence from Australian firms - Professor Peter Clarkson (UQ Business School, The University of Queensland and Beedie School of Business, Simon Fraser University)

Date: 12 September 2014

Time: 11.00 am

Venue: RWW 315

In this study, we investigate the association between a firm’s exposure to carbon-related risk and its cost of debt. Specifically, we predict and test the following two propositions: (1) firms with higher carbon-related risk exposure face a higher cost of debt and (2) firms can mitigate this ‘carbon risk’ penalty to their cost of debt by providing evidence regarding its awareness of the carbon-related risks that it faces.

We conduct our investigation using a sample of 255 firm-year observations for 78 Australian companies from eight different industries over the period 2009-2013. We measure carbon-related risk exposure as the firm’s recent (historical) carbon emissions and carbon risk awareness based on the firm’s willingness to respond to the CDP survey questionnaire. Our results provide uniform support for both of our predictions. We consistently document a positive and significant association between the cost of debt and our carbon risk measure for firms that fail to respond to the CDP survey. Further, this association is economically meaningful, with a one standard deviation increase in the carbon risk measure mapping into a 73 basis point increase in the cost of debt for these firms. Equally, we find that this penalty is effectively negated for firms that respond to the CDP survey.

Taken together, we interpret these results as indicative that lenders not only consider a firm’s recent (historical) carbon emissions but additionally, forward-looking indicators when assessing its carbon-related risk exposure and its mapping into the cost of debt.       

Explanations for not having an audit committee in a 'comply or explain' regime - Dr Tom Scott (The University of Auckland Business School)

Date: 26 September 2014

Time: 11.00 am

Venue: RWW315

We utilise the Australian ‘comply or explain’ corporate governance regime to examine the explanations given for not having an audit committee.  The common explanations are that the full board performs the role of the audit committee, that firm or board size is too small or that the firm is insufficiently complex to justify an audit committee.  The common explanations are that the full board performs the role of the audit committee that firm or board size is too small or that the firm is insufficiently complex to justify an audit committee.  These explanations are associated with firm development, performance, board size, and Big 4 auditor use.  Furthermore, the number of explanation types provided is associated with firm development and performance.  The explanations are mostly consistent with supply side variables and suggest the ‘comply or explain’ regime is working as desired.  The results should be of interest to regulators.

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Public Lectures

National and Labour Outline Their Economic Visions for New Zealand

Date: 1–2 September 2014

Time: 3.00 pm

Venue: Old Government Building, Lecture Theatre 1 (GBLT1)

CPF

In the run up to the 2014 General Election on 20 September, the Chair in Public Finance is pleased to host two Pre-election Public Lectures on the state of the Government's finances after the election.

What Will the Economy Look Like Under a National-led Government?

Hon Bill English, Minister of Finance and National's Deputy Prime Minister, on the future of the Government’s finances after the 2014 general election.

  • When: Monday 1 September, 3.00-4.00pm
  • Where: Old Government Buildings, Lecture Theatre 1, (Stout Street entrance)
  • RSVP: Libby.Wight@vuw.ac.nz (quoting the lecture title in the subject line), or call 04 463 9656

What Will the Economy Look Like Under a Labour-led Government?

Hon David Parker, Labour Finance spokesperson and Deputy Leader, on the future of the Government’s finances after the 2014 general election

  • When: Tuesday 2 September, 3.00-4.00pm
  • Where: Old Government Buildings, Lecture Theatre 1, (Stout Street entrance)
  • RSVP: Libby.Wight@vuw.ac.nz (quoting the lecture title in the subject line), or call 04 463 9656

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