THE SAVINGS AND LOAN DEBACLE: THE CULMINATION OF THREE DECADES OF CONFLICTING REGULATION, DEREGULATION, AND RE-REGULATION

1993 ◽  
Vol 20 (1) ◽  
pp. 1-32 ◽  
Author(s):  
Geanie W. Margavio
Keyword(s):  
Regulatory Environment ◽  
Accounting Profession ◽  
Savings And Loans ◽  
Net Worth ◽  
The Public ◽  
Savings And Loan ◽  
Savings And Loan Industry ◽  
The Subject

The role of the public accounting profession in the savings and loan debacle of the 1980s has recently been the subject of Congressional inquiry and extensive litigation by government agencies, and by angry stockholders and bondholders. These efforts suggest a broad misunderstanding by the public of the causes of the disaster. this paper illustrates that the difficulties which precipitated the crisis were a result of the historical development of the regulatory environment of the savings and loan industry. Examining this regulatory environment helps in understanding the current problems and crises of savings and loans as well as the situation in which the accounting profession now finds itself. The paper illustrates that the manner in which the industry was regulated, including piecemeal and often conflicting legislation, locked the industry into long-term mortgage commitments and then urged diversification from these commitments. The paper illustrates that, over the years, industry responses to this legislation created a net worth crisis. The extent of the crisis was obscured by accounting principles developed by regulators, and which ran contrary to GAAP. Finally, the paper discusses recent legislation designed to correct the regulatory and accounting inconsistencies, and the anticipated effect of this legislation on the future of the savings and loan industry.

scholarly journals The Link Between Monetary Policy And Savings And Loans

2011 ◽  
Vol 4 (2) ◽  
pp. 71
Author(s):  
Anthony Chan ◽  
Carl R. Chen
Keyword(s):  
Monetary Policy ◽  
Money Supply ◽  
Economic Indicator ◽  
Future Health ◽  
Savings And Loans ◽  
Net Worth ◽  
Empirical Results ◽  
Savings And Loan ◽  
The Future ◽  
Savings And Loan Industry

This paper examines the effects of monetary policy on the Savings and Loan industry as measured by several accounting proxies of net worth. To accomplish this task, the paper employs two monetary measures along with four accounting measures of capital. The empirical results suggest that the growth of the money supply is a good leading economic indicator of the future health of the industry as measured by several net worth accounting measures.

A Proposed Framework Emphasizing Auditor Reliability over Auditor Independence

2003 ◽  
Vol 17 (3) ◽  
pp. 257-266 ◽  
Author(s):  
Mark H. Taylor ◽  
F. Todd DeZoort ◽  
Edward Munn ◽  
Martha Wetterhall Thomas
Keyword(s):  
Public Interest ◽  
Auditor Independence ◽  
Public Confidence ◽  
Sufficient Condition ◽  
Necessary And Sufficient Condition ◽  
Accounting Profession ◽  
The Public ◽  
Necessary And Sufficient

This paper introduces an auditor reliability framework that repositions the role of auditor independence in the accounting profession. The framework is motivated in part by widespread confusion about independence and the auditing profession's continuing problems with managing independence and inspiring public confidence. We use philosophical, theoretical, and professional arguments to argue that the public interest will be best served by reprioritizing professional and ethical objectives to establish reliability in fact and appearance as the cornerstone of the profession, rather than relationship-based independence in fact and appearance. This revised framework requires three foundation elements to control subjectivity in auditors' judgments and decisions: independence, integrity, and expertise. Each element is a necessary but not sufficient condition for maximizing objectivity. Objectivity, in turn, is a necessary and sufficient condition for achieving and maintaining reliability in fact and appearance.

Approaches to Supporting Local and Community Development

2018 ◽  
Author(s):  
Liesel Mack Filgueiras ◽  
Andreia Rabetim ◽  
Isabel Aché Pillar
Keyword(s):  
Large Scale ◽  
Mining Company ◽  
The Sustainable Development ◽  
Social Partnership ◽  
The Public ◽  
Mining Investment ◽  
The Social ◽  
Corporate Social

Reflection about the role of community engagement and corporate social investment in Brazil, associated with the presence of a large economic enterprise, is the major stimulus of this chapter. It seeks to present how cross-sector governance can contribute to the social development of a city and how this process can be led by a partnership comprising a corporate foundation, government, and civil society. The concept of the public–private social partnership (PPSP) is explored: a strategy for building a series of inter-sectoral alliances aimed at promoting the sustainable development of territories where the company has large-scale enterprises, through joint efforts towards integrated long-term strategic planning, around a common agenda. To this end, the case of Canaã dos Carajás is introduced, a municipality in the State of Pará, in the Amazon region, where large-scale mining investment is being carried out by the mining company Vale SA.

The 2016 Police and Crime Commissioner elections

2017 ◽  
Vol 16 (2) ◽  
pp. 41-54 ◽  
Author(s):  
Peter Joyce
Keyword(s):  
Public Awareness ◽  
Primary Source ◽  
Source Material ◽  
Content Type ◽  
The Public ◽  
The Social ◽  
Key Issues ◽  
The Subject ◽  
The Government

Purpose The purpose of this paper is to analyse the 2016 elections for Police and Crime Commissioners (PCCs) and to compare them with those that took place in 2012. It seeks to evaluate the background of the candidates who stood for office in 2016, the policies that they put forward, the results of the contests and the implications of the 2016 experience for future PCC elections. Design/methodology/approach This paper is based around several key themes – the profile of candidates who stood for election, preparations conducted prior to the contests taking place, the election campaign and issues raised during the contests, the results and the profile of elected candidates. The paper is based upon documentary research, making particular use of primary source material. Findings The research establishes that affiliation to a political party became the main route for successful candidates in 2016 and that local issues related to low-level criminality will dominate the future policing agenda. It establishes that although turnout was higher than in 2012, it remains low and that further consideration needs to be devoted to initiatives to address this for future PCC election contests. Research limitations/implications The research focusses on the 2016 elections and identifies a number of key issues that emerged during the campaign affecting the conduct of the contests which have a bearing on future PCC elections. It treats these elections as a bespoke topic and does not seek to place them within the broader context of the development of the office of PCC. Practical implications The research suggests that in order to boost voter participation in future PCC election contests, PCCs need to consider further means to advertise the importance of the role they perform and that the government should play a larger financial role in funding publicity for these elections and consider changing the method of election. Social implications The rationale for introducing PCCs was to empower the public in each police force area. However, issues that include the enhanced importance of political affiliation as a criteria for election in 2016 and the social unrepresentative nature of those who stood for election and those who secured election to this office in these contests coupled with shortcomings related to public awareness of both the role of PCCs and the timing of election contests threaten to undermine this objective. Originality/value The extensive use of primary source material ensures that the subject matter is original and its interpretation is informed by an academic perspective.

An International Relations Perspective on the Reform Needs of the Human Rights Council

2021 ◽  
Vol 62 (1) ◽  
pp. 43-80
Author(s):  
Wolfgang S. Heinz
Keyword(s):  
Human Rights ◽  
International Relations ◽  
International Law ◽  
Structure And Dynamics ◽  
Human Rights Council ◽  
Local Actors ◽  
Protection Of Human Rights ◽  
The Subject

Abstract: This article approaches the matter of institutional reform of the United Nations Human Rights Council from an international relations perspective. A well-known tension exists between State representatives acting for their governments in international organisations, but whose decisions are presented as UN policies. The latter should be guided primarily by the UN Charter and public international law. However, in reality, different worldviews and foreign policy considerations play a more significant role. In a comprehensive stock-take, the article looks at four major dimensions of the Council, starting with structure and dynamics and major trends, followed by its country and thematic activities, and the role of key actors. Council reform proposals from both States and civil society are explored. Whilst the intergovernmental body remains the most important authority responsible for the protection of human rights in the international sphere, it has also been the subject of considerable criticism. Although it has made considerable progress towards enlarging its coverage and taking on more challenging human rights crises, among some of its major weaknesses are the election of human rights-unfriendly countries into its ranks, the failure to apply stronger sanctions on large, politically influential countries in the South and North, and lack of influence on human rights crises and chronic human rights problems in certain countries. Whilst various reform proposals have emerged from States and NGOs, other more far reaching propositions are under sometimes difficult negotiations. In the mid- to long-term, the UN human rights machinery can only have a stronger and more lasting impact if support from national/local actors and coalitions in politics and society can be strengthened.

Rethinking the Future оf the Accounting Profession

2020 ◽  
Vol 12 (1) ◽  
Author(s):  
Mariya Pavlova ◽  
◽  
◽  
Keyword(s):  
Public Sector ◽  
Business Partner ◽  
Accounting Profession ◽  
The Public ◽  
The Future

The question regarding the future of the accounting profession is being raised more and more often. The most powerful professional accounting organizations are directing all their resources to study the problems of the future of accounting. The issues regard accounting as a whole, the profession, what types of personnel will be needed for business and the public sector, and possible effects of digitalization. It is argued that the role of the professional accountant is undergoing a dramatic transformation, that in the future she will assume the role of a strategic business partner in the organization and must therefore acquire new competencies. This paper outlines what these competences should be and how to gain them.

THE ROLE OF ACCOUNTING AND CONTROL IN THE MANAGEMENT OF ECONOMIC SECURITY OF AN ORGANIZATION

2021 ◽  
Vol 7 (2) ◽  
pp. 165-178
Author(s):  
Nicolay T. Labyntsev ◽  
Lyubov F. SHILOVA ◽  
Ocsana V. Chukhrova
Keyword(s):  
Economic Security ◽  
Accounting Profession ◽  
Economic Management ◽  
Economic Interests ◽  
Doing Business ◽  
The Subject ◽  
The Stability ◽  
High Level ◽  
And Control

This article revises the mission and the name of the accounting profession in the context of strengthening the economic security of enterprises under the conditions of digitalization of the economy. The authors note that in the contemporary conditions of economic management, enterprises should form and ensure the functioning of the economic security of the enterprise at the proper level. The necessity of in-depth research of economic security at microlevel was considered, the factors influencing the stability of the enterprise were highlighted. High level of economic security of the subject of management consists in guaranteeing him maximum effective and stable functioning now and in future. Subjects of economic security were individual enterprises, and objects — their economic interests. The main goals of ensuring economic security of the enterprise in the part of accounting were singled out, the tasks of accounting policy, aimed at ensuring economic security, were determined. The prospects of the accounting profession in the process of ensuring economic security and reliable safe presentation of the results of doing business in reporting are substantiated. The study contains proposals on the revision of requirements for the qualifications of accountants in order to emphasize their activities aimed at strengthening the economic security of the enterprise.

The Role of ECT in Schizophrenia

2002 ◽  
Vol 10 (4) ◽  
pp. 385-388 ◽  
Author(s):  
Richard Keuneman ◽  
Rajiv Weerasundera ◽  
David Castle
Keyword(s):  
Acute Onset ◽  
Clinical Settings ◽  
Limited Data ◽  
Term Outcome ◽  
Long Term Outcome ◽  
Affective Symptoms ◽  
Maintenance Ect ◽  
The Subject

Objective: To review the place of electroconvulsive therapy (ECT) in the treatment of schizophrenia. Conclusions: ECT is as effective, if not more so, than the antipsychotic drugs in certain clinical settings. It can be rapidly effective in acute episodes. When used alone, antipsychotics have comparable or superior efficacy to ECT alone in the short term. However, ECT possibly confers better long-term outcome. Combination treatment with antipsychotic medications and ECT is superior to either treatment alone, and is safe and effective, notably in medication resistant schizophrenia. Benefits of acute courses of ECT may be short-lived unless maintenance ECT is instituted, although there are limited data on the subject. Clinically, patients with acute onset, shorter episodes are more likely to respond to ECT. Catatonia, preoccupation with delusions and hallucinations, and a relative absence of premorbid schizoid and paranoid personality traits, are other clinical factors less strongly predictive of positive response. The presence of affective symptoms is often thought to be predictive of clinical response. However, there is little research evidence for this. While medications remain the mainstay of treatment in schizophrenia, ECT does have a clear and increasingly recognised role which requires further evaluation.

scholarly journals How are Kawaii (Cute) Fictional Characters Used in Japanese Advertising

2021 ◽  
Vol 14 (1 (39)) ◽  
pp. 55-78
Author(s):  
Oana-Maria BÎRLEA
Keyword(s):  
Egg Yolk ◽  
Cultural Dimensions ◽  
Fictional Characters ◽  
Japanese Company ◽  
The Public ◽  
Different Types ◽  
The Government ◽  
Commercial Advertising

This article aims to explain the use and role of cute, adora- ble characters in Japanese advertising. Kawaii culture or the “culture of cute” has become known worldwide mainly because of Hello Kitty, the cat which led the “pink globalization”, as Yano (2013) states. In this paper we have attempted to reveal the symbolism of these apparent meaning- less cute signs and characters. Starting from Hofstede’s theory of cultural dimensions (2001, 2003, 2010), which shows how a society’s culture influ- ences the values of its members, we intended to show how are these kawaii characters used in Japanese advertising and how they fit cultural specif- ics. Used either in non-commercial, educational or commercial advertising, cute personae can make the target audience feel more comfortable, secure and cooperating (Murakami, 2005). In this paper we have discussed the role of three iconic characters: the emblematic Hello Kitty, Kumamon, the lovely bear created by the government of Kumamoto Prefecture (Japan) and Gudetama, a lazy egg yolk produced by the Japanese company Sanrio in 2014. The selected characters reflect different types and personalities and each of them serves a specific purpose, but via the analysis conveyed we conclude that perhaps their main aim is to persuade and create a long-term relationship with the public.

scholarly journals APPLYING THE PRINCIPLES OF NEW PUBLIC MANAGEMENT TO MEASURE THE PERFORMANCE IN EDUCATION – VALUE FOR MONEY

2019 ◽  
Vol 2 (1) ◽  
pp. 50-57
Author(s):  
Jana Štrangfeldová ◽  
Štefan Hronec ◽  
Jana Hroncová Vicianová ◽  
Nikola Štefanišinová
Keyword(s):  
Public Management ◽  
New Public Management ◽  
Tertiary Education ◽  
Relevant Information ◽  
Value For Money ◽  
The Public ◽  
New Public ◽  
Comprehensive Measurement

Education is a key area, the results of which play an important role in the development of each society. The role of education focused on the inclusion of children into school groups, to prepare students to enter the labour market or continue their studies in the context of tertiary education is a sufficient argument to enable beginning to look for answers and possible solutions to the difficult question of the quality of schools. Constant pressure from the public forces them to monitor and improve the provision of public services, and continually enhance their own performance in order to achieve long-term existential security. These facts consequently require a comprehensive measurement of their performance. This opens up opportunities for applying the concept of Value For Money based on the principles of New Public Management. The purpose of the scientific study is to show the potential uses of Value for Money on the example of education. The suggestion of methodology of VFM to measure the performance in education presented in this study shows possibilities to measure, evaluate, monitor and achieve necessary and especially relevant information about the situation of education and subsequent decision-making not only for public forces, but also, it can be the suitable tool for public grammar schools themselves. The article is co-financed by the project VEGA 1/0651/17.

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