EandB Connect : Issue 12 Oct 2010
ALUMNI MAGAZINE 2010 THE FACULTY OF ECONOMICS AND BUSINESS 9 ACCOUNTING RESEARCH AT THE FACULTY'S regular Powered by Research breakfast forum in July the Chair of the Accounting Discipline, Professor Graeme Dean (BEc '73 MEc '76), drew on his latest research about deficiencies in accounting generally. More specifically, he discussed the proposed new federal regulations about determining new constraints on paying company's dividend payments. For nearly 35 years, Professor Dean's research has comprised three main areas: an analysis of corporate failures and the role of accounting in those failures - as well as an analysis of optimal distributions in liquidations, public sector accounting and accounting for inflation. His latest major work (with Emeritus Professor Frank Clarke (BEc '70 PhD '82)) Indecent Disclosure: Gilding the Corporate Lily (CUP 2007) was short listed for the prestigious Blake Dawson Business Literature Prize for 2007. At the breakfast, Professor Dean focussed on the proposed legislative amendments which he believes will result in significant changes in the way data is reported. This, he says, has significant implications for interested parties - shareholders, creditors and employees. By highlighting recent business catastrophes such as AIG's alleged capers; Lehmann's repos; Melbourne Storm's alleged salary cap rort; the solvency dilemmas at One.Tel and the James Hardie asbestos conundrum, Professor Graeme Dean, emphasised the need for commerce to have 'trust' in audited accounting information and, how without it, there is a fine line between order and chaos. A panel of leading industry experts, including a number of the faculty's own alumni, joined the discussion at the event: • Joycelyn Morton (BEc '80) - Non-Executive Director, Noni-B and Count Financial Ltd. • Charles Littrell (MEc '98) - Executive General Manager, Policy, Research and Statistics, at the Australian Prudential Regulation Authority (APRA); • Stuart Washington - Fairfax Business Journalist • Sandra van der Laan (PhD '09)- Senior Lecturer, Discipline of Accounting, Faculty of Economics and Business A short video featuring an interview with Professor Graeme Dean and excerpts from July's breakfast can be viewed at sydney.edu.au/business/news/forum_ corporate_reporting_networks or by clicking on the screen below. See page 12 for further details about the next Powered by Research breakfast being hosted by the faculty's Business Information Systems Discipline on Wednesday 10 November 2010. During its 50th Anniversary year, the Accounting Discipline hosted a research forum highlighting the need for more thoughtful structuring and auditing processes of Australian corporate groups MISSION impossible?
Issue 13 Nov 2010