Unintended consequences of changes in the regulatory landscape on the statutory audit processNie

We examine the effect of changes in the regulatory environment on the conduct of financial statement audits in a European setting. These changes include the adoption of risk-based auditing, new Audit Risk Standards and increased scrutiny of audit quality by a new, co-ordinated oversight body in each Member State. We investigate this by analysing the audit hours and fees and their determinants for clients of Big N audit firms in Finland in 1996 and 2010. Our results show that audit fees and audit effort by senior auditors were generally higher for high risk clients in 2010 than in 1996. Second, we find that the relationship in 1996 between the client being owner-managed and lower audit hours for both senior and junior auditors is absent in 2010. This supports our argument that the increased auditor scepticism has increased audit effort for owner-managed firms. Third, we find that the average number of junior staff hours increased between 1996 and 2010, but the variance across engagements declined. In contrast, senior auditor hours (and total audit hours) decreased, but the variance across engagements increased. This supports the view that risk-based auditing has increased the efficiency of audits. However, it suggests that the general increase in regulation and the tightening of audit standards, reinforced by the new quality inspections, have led to less emphasis on processes requiring professional judgment and more emphasis on compliance with rules. These unintended consequences should be of interest to the auditing profession and policy makers

Maximising Social Interactions and Effectiveness within Distance Learning Courses: Cases from Construction

Advanced Internet technologies have revolutionised the delivery of distance learning education. As a result, the physical proximity between learners and the learning providers has become less important. However, whilst the pervasiveness of these technological developments has reached unprecedented levels, critics argue that the student learning experience is still not as effective as conventional face-to-face delivery. In this regard, surveys of distance learning courses reveal that there is often a lack of social interaction attributed to this method of delivery, which tends to leave learners feeling isolated due to a lack of engagement, direction, guidance and support by the tutor. This paper defines and conceptualises this phenomenon by investigating the extent to which distance-learning programmes provide the social interactions of an equivalent traditional classroom setting. In this respect, two distance learning case studies were investigated, covering the UK and Slovenian markets respectively. Research findings identified that delivery success is strongly dependent on the particular context to which the specific distance learning course is designed, structured and augmented. It is therefore recommended that designers of distance learning courses should balance the tensions and nuances associated with commercial viability and pedagogic effectiveness

Platelet count and transfusion requirements during moderate or severe postpartum haemorrhage

Limited data exist on platelet transfusion during postpartum haemorrhage. We retrospectively analysed a consecutive cohort from a single centre of 347 women with moderate or severe postpartum haemorrhage, transfused according to national guidelines. Twelve (3%) women required a platelet transfusion. There were no differences between women who did and did not receive platelets with respect to age, mode of initiation of labour or mode of delivery. Women receiving a platelet transfusion had a lower median (IQR [range]) platelet count at study entry than women who did not receive platelets before haemorrhage (135 (97–175 [26–259])×109.l−1 vs 224 (186–274 [91–1006])×109.l−1), respectively), and at diagnosis of postpartum haemorrhage (median 114 (78–153 [58–238])×109.l−1 vs 193 (155–243 [78–762])×109.l−1 respectively). Six women were thrombocytopenic pre-delivery. The cause of haemorrhage that was associated with the highest rate of platelet transfusion was placental abruption, with three of 14 women being transfused. If antenatal thrombocytopenia or consumptive coagulopathy were not present, platelets were only required for haemorrhage > 5000 ml. Early formulaic platelet transfusion would have resulted in many women receiving platelets unnecessarily. Using current guidelines, the need for platelet transfusion is uncommon without antenatal thrombocytopenia, consumptive coagulopathy or haemorrhage > 5000 ml. We found no evidence to support early fixed-ratio platelet transfusion

Adverse prognostic and predictive significance of low DNA-dependent protein kinase catalytic subunit (DNA-PKcs) expression in early-stage breast cancers

Background: DNA-dependent protein kinase catalytic subunit (DNA-PKcs), a serine threonine kinase belonging to the PIKK family (phosphoinositide 3-kinase-like-family of protein kinase), is a critical component of the non-homologous end joining (NHEJ) pathway required for the repair of DNA double strand breaks. DNA-PKcs may be involved in breast cancer pathogenesis. Methods: We evaluated clinicopathological significance of DNA-PKcs protein expression in 1161 tumours and DNA-PKcs mRNA expression in 1950 tumours. We correlated DNA-PKcs to other markers of aggressive phenotypes, DNA repair, apoptosis and cell cycle regulation. Results: Low DNA-PKcs protein expression was associated with higher tumour grade, higher mitotic index, tumour de-differentiation and tumour type (ps<0.05). Absence of BRCA1, low XRCC1/SMUG1/APE1/Polβ were also more likely in low DNA-PKcs expressing tumours (ps<0.05). Low DNA-PKcs protein expression was significantly associated with worse breast cancer specific survival (BCCS) in univariate and multivariate analysis (ps<0.01). At the mRNA level, low DNA-PKcs was associated with PAM50.Her2 and PAM50.LumA molecular phenotypes (ps<0.01) and poor BCSS. In patients with ER positive tumours who received endocrine therapy, low DNA-PKcs (protein and mRNA) was associated with poor survival. In ER negative patients, low DNA-PKcs mRNA remains significantly associated with adverse outcome. Conclusions: Our study suggests that low DNA-PKcs expression may have prognostic and predictive significance in breast cancers

Post-Disaster Housing Reconstruction in Sri Lanka: What Methodology?

Research methodology is the procedural framework within which the research is conducted. This includes the overall approach to a problem that could be put into practice in a research process, from the theoretical underpinning to the collection and analysis of data. Choice of methodology depends on the primary drivers: topic to be researched and the specific research questions. Hence, methodological perspectives of managing stakeholder expectations of PDHR context are composed of research philosophies, research strategy, research design, and research techniques. This research belonged to social constructivism or interpretivism within a philosophical continuum. The nature of the study was more toward subjectivism where human behavior favored voluntary stance. Ontological, methodological, epistemological, and axiological positioning carried the characteristics of idealism, ideographic, anti-positivism, and value laden, respectively. Data collection comprises two phases, preliminary and secondary. Exploratory interviews with construction experts in the United Kingdom and Sri Lanka were carried out to refine the interview questions and identify the case studies. Case study interviews during the secondary phase took place in Sri Lanka. Data collected at the preliminary stage were used to assess the attributes of power, legitimacy/proximity, and urgency of stakeholders to the project using Stakeholder Circle™ software. Moreover, the data collected at secondary phase via case studies will be analyzed with NVivo 8. This article aims to discuss these methodological underpinnings in detail applied in a post-disaster housing reconstruction context in Sri Lanka

Universal Rights and Wrongs

This paper argues for the important role of customers as a source of competitive advantage and firm growth, an issue which has been largely neglected in the resource-based view of the firm. It conceptualizes Penrose’s (1959) notion of an ‘inside track’ and illustrates how in-depth knowledge about established customers combines with joint problem-solving activities and the rapid assimilation of new and previously unexploited skills and resources. It is suggested that the inside track represents a distinct and perhaps underestimated way of generating rents and securing long-term growth. This also implies that the sources of sustainable competitive advantage in important respects can be sought in idiosyncratic interfirm relationships rather than within the firm itself

Numerical Evaluation of P-Multigrid Method for the Solution of Discontinuous Galerkin Discretizations of Diffusive Equations

This paper describes numerical experiments with P-multigrid to corroborate analysis, validate the present implementation, and to examine issues that arise in the implementations of the various combinations of relaxation schemes, discretizations and P-multigrid methods. The two approaches to implement P-multigrid presented here are equivalent for most high-order discretization methods such as spectral element, SUPG, and discontinuous Galerkin applied to advection; however it is discovered that the approach that mimics the common geometric multigrid implementation is less robust, and frequently unstable when applied to discontinuous Galerkin discretizations of di usion. Gauss-Seidel relaxation converges 40% faster than block Jacobi, as predicted by analysis; however, the implementation of Gauss-Seidel is considerably more expensive that one would expect because gradients in most neighboring elements must be updated. A compromise quasi Gauss-Seidel relaxation method that evaluates the gradient in each element twice per iteration converges at rates similar to those predicted for true Gauss-Seidel

Content and Feedback Analysis of YouTube Videos: Football Clubs and Fans as Brand Communities

The use of Web 2.0 tools has been transforming the interaction between companies and their clients, especially for those that are selling emotional products. Consumers are generating and sharing contents concerning their favourite products on the web. Even if this process has been widely acknowledged, only a few studies have been specifically devoted to the analysis of both the contents and the feedback the consumers receive from other users. This article analyzes the online presence of sport brands through contents that are generated by sport clubs (official contents) and their fans (User Generated Content, UGC) on YouTube. After a description and classification of video contents, it examines the factors that influence the performance of the videos in terms of passive (videos views) and active behaviour (any kinds of interaction with videos) among the viewers. In order to carry out this analysis, 125 YouTube channels were considered thereby accounting for a total of 375 videos. Results show that official contents are those preferred by the users/consumers and that if the video displays a passive/purely informative content, the chance of getting an active behaviour from the users tends to decrease. These findings may help companies manage their online presence, creating awareness about contents and information that should be spread and shared on the web

An integrative framework of preemption strategies

Pre-print; author's draftThis paper performs a review of the various pre-emption strategies prescribed in the economics literature. These are cost superiority, consumers' switching cost, channel exclusivity, environmental barriers of entry and credible commitment to react aggressively. Through our analysis, we develop an integrative framework of the pre-emption strategies that will result in long-term payoffs to the firm. The framework proposes that there are two key dimensions—strategic advantage and strategic focus—and identify five generic types of pre-emption strategies for market incumbents. These are the switching cost, blockade, credible commitment, tie-up, and cost leadership strategies. The pre-emption strategies and the framework presented can assist managerial decision-making for the successful pre-emption of potential competition to complement their existing efforts

Learning from peer feedback on student-generated multiple choice questions: Views of introductory physics students

PeerWise is an online application where students are encouraged to generate a bank of multiple choice questions for their classmates to answer. After answering a question, students can provide feedback to the question author about the quality of the question and the question author can respond to this. Student use of, and attitudes to, this online community within PeerWise was investigated in two large first year undergraduate physics courses, across three academic years, to explore how students interact with the system and the extent to which they believe PeerWise to be useful to their learning. Most students recognized that there is value in engaging with PeerWise, and many students engaged deeply with the system, thinking critically about the quality of their submissions and reflecting on feedback provided to them. Students also valued the breadth of topics and level of difficulty offered by the questions, recognized the revision benefits afforded by the resource, and were often willing to contribute to the community by providing additional explanations and engaging in discussion