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.

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.

CAGTR Business Links Seminar - Professor Margaret Woods

Date: 8 October 2014

Time: 5.30 pm

Venue: Rutherford House, Lecture Theatre 2

“What has gone wrong with risk management?”

The world is awash with standards, codes of practice and regulations for the management of corporate risk, and yet risk management failures happen again and again in all of the major economies. Why are the rules and guidance not working? Is the problem at the regulatory, organisational or individual level?

In this seminar Margaret Woods will use case study examples from major global organisations to illustrate and seek to explain the persistent repetitive cycle of increased regulatory guidance followed by further risk management failures. Her view is that the root of the problem lies in a focus on structures and systems rather than people and information flows, and that the traditional “three lines of defence” model needs to be redrafted. Margaret introduces the idea of risk management problems arising from imbalances of power and knowledge within organisations, and the scope for such imbalances to sow the seeds of disaster.

Margaret Woods is Professor of Accounting and Risk Management at Aston University. In 2008 she worked at the Centre for University Finance and Management in Tokyo, and has also held visiting professorial positions at Luneberg University (Germany) and Pace University (New York). Margaret is a Fellow of the Chartered Institute of Certified Accountants and her career spans both academia and industry. She is the co-ordinator of the European Risk Research Forum which has over 200 academic and risk practitioner members from across the world. Her great interest is in risk and performance management with a focus on banking and financial services and in 2011 she was awarded Fellowship of the Royal Society of Arts in recognition of her work in the area of financial services. Margaret’s aim as a researcher is to produce work that is both useful to the business community as well as being academically rigorous.

A copy of the flyer is available here.

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