Commercial service charge accounting and audit: a review

Facilities ◽  
2015 ◽  
Vol 33 (7/8) ◽  
pp. 502-527 ◽  
Author(s):  
Andrew Holt
Keyword(s):  
Design Methodology ◽  
Best Practice ◽  
Inductive Reasoning ◽  
Theoretical Level ◽  
Content Type ◽  
Commercial Property ◽  
Code Of Practice ◽  
Guidance Note ◽  
Service Charge ◽  
Practice Framework

Purpose – The purpose of this paper is to critique the accounting and auditing requirements of the 2011 RICS Code of Practice, Service Charges in Commercial Property and examines whether the new 2014 version of the RICS Code and its associated accounting guidance note provide a “best practice” framework for service charge accounting and audit. This theoretical discussion is then applied to empirical data obtained from a sample of UK commercial office properties to assess whether current practices used by managing parties for the preparation and review of service charge reconciliation certificates actually embody the principles of best practice. Design/methodology/approach – The paper uses inductive reasoning to theorise about how the accounting and auditing of commercial service charges might be improved. The paper also uses a deductive approach to identify whether current commercial service charges accounting and audit practices achieve a theoretical level of best practice. The paper reviews a range of secondary literature and utilises hand-collected data from the service charge documents provided to commercial leaseholders. Findings – The paper finds deficiencies within the RICS Code’s requirements for service charge accounting and audit. As a result, empirical evidence is found suggesting that UK commercial service charge accounting and audit practices are inconsistent, lack transparency and provide poor levels of negative assurance for tenants. Research limitations/implications – Content analysis requires subjective interpretation on behalf of the researcher. Originality/value – Data are original to this research and provide a unique insight as to the accounting and audit practices used by facilities managers, managing agents, accountants and independent auditors within the commercial property sector.

scholarly journals Leases as inhibitors of best practice in service charge management

2019 ◽  
Vol 37 (2) ◽  
pp. 275-286
Author(s):  
Andrew Derek Holt ◽  
Timothy Stephen Eccles
Keyword(s):  
Best Practice ◽  
Legal Framework ◽  
Content Type ◽  
Commercial Property ◽  
Code Of Practice ◽  
Service Charge ◽  
Practical Management ◽  
Real Estate Management ◽  
The Relationship

Purpose The relationship between the owner and an occupier of a commercial property is determined by the lease, inasmuch as it sets out the legally enforceable duties and obligations of each party. However, it is only that, a legal framework; it is not a practical management handbook on how best to operate the premises and generate an amicable business relationship. The purpose of this paper is to consider the role of the lease in reinforcing and disrupting the generation of best practice within real estate management. Design/methodology/approach The paper examines actual leases to understand the service charge and how data pertinent to it is collected, disseminated and interpreted by both parties in carrying out their activities within and about the property. This is then benchmarked against provisions of the Service Charge Code of Practice. Findings Despite a number of incarnations of a code of practice on service charges during the lifetime of the leases examined, the research finds a troublingly small uptake of its ideas within new leases. Practical implications The findings predict future problems in the practical management of multi-tenanted properties, coupled with a call that leases are written to the Code’s requirements. Originality/value No such lease examination has been undertaken to date.

OCIE issues risk alert on the most frequently identified advisory fee and expense compliance issues

2018 ◽  
Vol 19 (4) ◽  
pp. 1-3
Author(s):  
Robert Van Grover
Keyword(s):  
Design Methodology ◽  
Best Practice ◽  
Investment Management ◽  
Content Type ◽  
Informed Decisions ◽  
Policies And Procedures ◽  
The Us ◽  
Investment Advisers ◽  
Practical Implications

Purpose To summarize and interpret a Risk Alert issued on April 12, 2018 by the US SEC’s Office of Compliance Inspections and Examinations (OCIE) on the most frequent advisory fee and expense compliance issues identified in recent examinations of investment advisers. Design/methodology/approach Summarizes deficiencies identified by the OCIE staff pertaining to advisory fees and expenses in the following categories: fee billing based on incorrect account valuations, billing fees in advance or with improper frequency, applying incorrect fee rates, omitting rebates and applying discounts incorrectly, disclosure issues involving advisory fees, and adviser expense misallocations. Findings In the Risk Alert, OCIE staff emphasized the importance of disclosures regarding advisory fees and expenses to the ability of clients to make informed decisions, including whether or not to engage or retain an adviser. Practical implications In light of the issues identified in the Risk Alert, advisers should assess the accuracy of disclosures and adequacy of policies and procedures regarding advisory fee billing and expenses. As a matter of best practice, advisers should implement periodic forensic reviews of billing practices to identify and correct issues relating to fee billing and expenses. Originality/value Expert guidance from experienced investment management lawyer.

Level of awareness of formwork design in the Ghanaian construction industry; enabling future technology application

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Clement Boakye Danquah ◽  
Alex Acheampong ◽  
Theophilus Adjei-Kumi
Keyword(s):  
Construction Industry ◽  
Web Application ◽  
Inductive Reasoning ◽  
Structured Interview ◽  
Content Type ◽  
Technology Application ◽  
Code Of Practice ◽  
Future Technology ◽  
Interview Guide ◽  
Specific Regulation

Purpose In the Ghanaian construction industry (GCI), the option for stakeholders to adopt formwork design as a building construction requirement is uncommon place. This is due to the low level of awareness and practice of formwork design. As a result of this, there have been formwork accidents, cost and time overruns in construction. This paper aims to solicit the view of stakeholders on the awareness of formwork design practices in the GCI. Design/methodology/approach This paper adopted the interpretivism research philosophy and inductive reasoning. Through a semi-structured interview guide, data was collected. The data (interview) recorded was transcribed using the Amberscript web application. This study used thematic analysis in analyzing the data collected using Nvivo 10 software. Findings The data collected from the 22 professionals indicated that the respondents were unaware of the concept of formwork design and its practice, neither could they speak to the existence of any specific regulation nor code of practice. However, the respondents established that there was a need to design formwork and stated some benefits of it. Originality/value From the literature, little research has been done on formwork design and its context in the GCI is yet to be explored. This research attempts to fill this gap. The findings indicate that to practice formwork design, there must be education and training of human resources for formwork design, there must be a code of practice to guide the design process and legal backing through policies and regulations to mandate the design.

scholarly journals How the information use environment influences search activities

2019 ◽  
Vol 75 (2) ◽  
pp. 435-455 ◽  
Author(s):  
Sophie Rutter ◽  
Paul David Clough ◽  
Elaine G. Toms
Keyword(s):  
Primary Schools ◽  
Value Of Information ◽  
Design Methodology ◽  
Best Practice ◽  
National Curriculum ◽  
Information Use ◽  
Search Process ◽  
Search Activity ◽  
Content Type ◽  
Practical Implications

Purpose The information use environment (IUE) – the context within which the search activity takes place – is critical to understanding the search process as this will affect how the value of information is determined. The purpose of this paper is to investigate what factors influence search in English primary schools (children aged 4–11) and how information found is subsequently used. Design/methodology/approach Ten teachers, selected using maximal variation sampling, describe search-related activities within the classroom. The resulting interview data were analysed thematically for the influence of the environment on search and different information uses. The findings were then validated against three classroom observations. Findings 12 categories of information use were identified, and 5 aspects of the environment (the national curriculum, best practice, different skills of children and teachers, keeping children safe, and limited time and resource) combine to influence and shape search in this setting. Research limitations/implications Findings support the argument that it is the IUE that is the key influence of search activity. What makes children a distinct user group is linked to the environment within which they use information rather than age, as advocated in previous studies. Practical implications The features of search systems and practical guidance for teachers and children should be designed to support information use within the IUE. Originality/value As far as the authors are aware, this is the first study to consider the influence of the IUE on how search is enacted within primary schools.

scholarly journals Practitioner perspectives of multi-agency safeguarding hubs (MASH)

2019 ◽  
Vol 22 (1) ◽  
pp. 9-20
Author(s):  
Sarah Shorrock ◽  
Michelle M. McManus ◽  
Stuart Kirby
Keyword(s):  
Design Methodology ◽  
Best Practice ◽  
Governance Structure ◽  
Structured Interviews ◽  
Content Type ◽  
The North ◽  
Everyday Practices ◽  
Agency Practices ◽  
Practical Implications ◽  
Insight Into

Purpose The challenges of transferring the theoretical requirements of an effective multi-agency partnership into everyday practices are often overlooked, particularly within safeguarding practices. Therefore, the purpose of this paper is to explore practitioner perspectives of working within a multi-agency safeguarding hub (MASH) and those factors that encourage or hinder a multi-agency approach to safeguarding vulnerable individuals. Design/methodology/approach Semi-structured interviews with 23 practitioners from one MASH location in the North of England were conducted, with a thematic analysis being used to analyse findings. Findings The interviews with practitioners illustrated the complexity of establishing a multi-agency approach to safeguarding. It was inferred that whilst information sharing and trust between agencies had improved, the absence of a common governance structure, unified management system, formalisation of practices and procedures and shared pool of resources limited the degree to which MASH could be considered a multi-agency approach to safeguarding. Practical implications Establishing a multi-agency approach to safeguarding is complex and does not occur automatically. Rather, the transition to collaborative practices needs to be planned, with agreed practices and processes implemented from the beginning and reviewed regularly. Originality/value Few studies have investigated the implementation of MASH into safeguarding practices, with this paper providing a unique insight into practitioner opinions regarding the transition to multi-agency practices. Whilst there is a focus on MASH, the challenges to arise from the research may be reflective of other multi-agency partnerships, providing a foundation for best practice to emerge.

Financial reporting for commercial service charges in the retail sector

2015 ◽  
Vol 33 (2) ◽  
pp. 152-172 ◽  
Author(s):  
Andrew Holt ◽  
Timothy Eccles
Keyword(s):  
Financial Reporting ◽  
Third Party ◽  
Retail Sector ◽  
Content Type ◽  
Reporting Practices ◽  
Code Of Practice ◽  
Reporting Requirements ◽  
Service Charge ◽  
Shopping Centres ◽  
Retail Shopping

Purpose – The purpose of this paper is to assess whether financial reporting practices for commercial service charges in the UK retail sector match the best practice requirements of the Royal Institution of Chartered Surveyors (RICS) Code of practice for commercial service charges. This assessment was performed by benchmarking commercial service charge documents provided to retail occupiers at UK shopping centres against the RICS Code’s financial reporting requirements. Design/methodology/approach – Data were generated from direct analysis of actual service charge documents supplied to commercial retail occupiers. This ensures authenticity by removing reliance upon third party reporting of said data. The paper uses a sample size that is representative of the financial reporting practices for commercial service charges at UK shopping centres. Findings – Levels of compliance with the financial reporting requirements of the RICS Code of Practice for commercial service charges are found to be poor, especially in terms of the disclosure of the accounting policies used during the preparation of the service charge accounts. These results contrast with claims by the professional body. Research limitations/implications – The work analyses service charge documents prepared during 2010-2012 by 44 managing agents and 87 landlords at 126 UK retail shopping centres located in Great Britain. Content analysis was utilised to interpret the data and required some subjective judgement by the researchers. Originality/value – Data are original and the paper provides a unique benchmarking test for assessing Code compliance. This contrasts markedly with the anecdotal evidence offered by the profession in defending current standards of practice and whilst the paper has limitations, it is the largest and most in-depth study of commercial service charge practices at UK retail shopping centres.

Library graphic design best practices and approval processes

2016 ◽  
Vol 117 (1/2) ◽  
pp. 63-73 ◽  
Author(s):  
Diana K Wakimoto
Keyword(s):  
Best Practices ◽  
Graphic Design ◽  
Design Methodology ◽  
Best Practice ◽  
Library Science ◽  
Science Literature ◽  
Design Processes ◽  
Content Type ◽  
Qualitative Survey ◽  
Practical Implications

Purpose – The purpose of this paper is to explore graphic design best practices and approval processes used by librarians. Design/methodology/approach – This paper used an online, qualitative survey to collect data on librarians’ design processes and best practices. The responses were reviewed to determine categories and themes of librarians’ design processes and best practices to gain an understanding of the state of graphic design in libraries. Findings – The majority of the respondents reported that there were no formal guidelines, design committees or approval processes at their libraries. While some librarians were aware of and used graphic design best practices, many respondents were unsure of what constituted a best practice in graphic design. Research limitations/implications – The paper was exploratory and the respondents cannot be said to be representative of all librarians and, therefore, generalizations to all librarians are not possible. Practical implications – Findings may help librarians who assume design duties in their libraries in exploring best practices and discussing design approval processes. Originality/value – This paper is one of the few papers in the library science literature on graphic design as applied specifically to librarians. It increases our understanding of graphic design in libraries.

scholarly journals Information security behaviour of smartphone users

2018 ◽  
Vol 119 (7/8) ◽  
pp. 444-455 ◽  
Author(s):  
Shohana Nowrin ◽  
David Bawden
Keyword(s):  
Information Security ◽  
Design Methodology ◽  
Best Practice ◽  
Survey Method ◽  
Security Risks ◽  
Content Type ◽  
Security Issues ◽  
University Library ◽  
Smartphone Use ◽  
The University

Purpose The purpose of this study is to understand the information security behaviour of the students of the University of Dhaka, Bangladesh in the use of smartphones. Bangladesh is well-known as one of the largest and fastest growing mobile phone market of the world, and the University of Dhaka is also the largest student’s assembly in the country in terms of using smartphones. Besides, the rising use of smartphones is also likely to be typical of other sub-continent countries. Design/methodology/approach To gain an understanding of the information security behaviours of the students of University of Dhaka, Bangladesh, a quantitative survey method was deployed in revealing the approaches of the students towards avoidance of various security risks. A total of 356 students participated in the study, although eight of the participants did not carry out the full survey because they do not use smartphones. The collected data were analysed with suitable statistical methods. Findings The findings of the study reveal that students of University of Dhaka possess a moderately secure behaviour in terms of avoiding harmful behaviours, using useful phone settings and add-on utilities and disaster recovery. This study also shows that the students do not behave securely in all aspects of using different security features in the same way, and it also varies somewhat according to gender, and between faculties and institutions. The university library is recommended as the focus for instruction and guidance on the best practice in smartphone use by students. Research limitations/implications The study does not include any other universities of Bangladesh except University of Dhaka due to the shortage of time. A further study can be conducted to gain an understanding in a greater extent by including students of the other universities and perhaps also other countries. Originality/value This is the first paper in Bangladesh related to the study of information security behaviour regarding the use of smartphone among the student of University of Dhaka. This study will help to raise information security awareness among the students and encourage the authorities to adopt appropriate strategies and policies to resolve information security risks in the use of smartphones. Specially, the university library can take some initiatives in this case, such as providing advice, seminars, workshops and lectures to make the students aware about security issues.

A qualitative investigation of benchmarking barriers in Nigeria

2016 ◽  
Vol 23 (7) ◽  
pp. 1677-1696 ◽  
Author(s):  
Yewande Adetoro Adewunmi ◽  
Hikmot Koleoso ◽  
Modupe Omirin
Keyword(s):  
Design Methodology ◽  
Best Practice ◽  
Computer Software ◽  
Facilities Management ◽  
Structured Interviews ◽  
Quality Of Data ◽  
Content Type ◽  
Port Harcourt ◽  
Practical Implications

Purpose The purpose of this paper is to examine benchmarking barriers among Nigerian facilities management (FM) practitioners. Design/methodology/approach Data collection were through semi-structured interviews with 34 FM heads from three selected cities in Nigeria. Out of this number, 16 were from Lagos, ten from Abuja while eight managers were from Port Harcourt, respectively. These managers were selected using purposive sampling based on their experience in the field of FM across the various sectors of the economy. The interviews were analysed with Nvivo 10 software qualitative computer software. Findings Those that do informal benchmarking face challenges with data, employees lack of confidence in new initiatives and poor support of senior management, the companies that use best practice benchmarking face constraints of access to information and employees unwillingness to change and comply to company set standards, unwillingness of benchmarking partners to understand the usefulness of the project, and problems that emanate from the quality of data obtained. Practical implications The results therefore suggest that to improve the practice of best practice benchmarking there is need to improve both quantity and quality of data for the exercise and enhance standard practice. Originality/value The study established a new category of benchmarking barriers called the market category of benchmarking barriers and further distinguished benchmarking barriers based on two forms of benchmarking which is informal and formal benchmarking. Also there are limited studies on benchmarking barriers in developing countries.

Choice of governance structure and earnings quality

2016 ◽  
Vol 29 (4) ◽  
pp. 372-390 ◽  
Author(s):  
Pamela Kent ◽  
Richard Anthony Kent ◽  
James Routledge ◽  
Jenny Stewart
Keyword(s):  
Cluster Analysis ◽  
Corporate Governance ◽  
Firm Size ◽  
Design Methodology ◽  
Best Practice ◽  
Earnings Quality ◽  
Governance Structure ◽  
Governance Mechanisms ◽  
Content Type

Purpose The purpose of this paper is to examine the effectiveness of voluntary governance mechanisms in Australia. Design/methodology/approach This study identifies similar choices of corporate governance by Australian firms and tests the effectiveness of the choices made based on the earnings quality of reported firms. Cluster analysis is conducted using governance best practice variables, firm size and an earnings quality variable. Findings This paper’s results support the voluntary governance approach for smaller firms, but suggest that mandatory governance requirements could be beneficial for larger firms. Evidence suggests that a benefit accrues for larger firms with the adoption of governance best practice. Cluster analysis indicates that larger firms tend to exhibit higher levels of adoption of governance best practice than smaller firms. Originality/value This paper adds to the literature by providing important information regarding the suitability of adoption of voluntary governance mechanisms in Australia.

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