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One of the most significant recent developments in the risk measurement and management area has been the emergence of value at risk (VaR). The VaR of a portfolio is the maximum loss that the portfolio will suffer over a defined time horizon, at a specified level of probability known as the VaR confidence level. The VaR has proven to be a very useful measure of market risk, and is widely used in the securities and derivatives sectors: a good example is the RiskMetrics system developed by J.P. Morgan. VaR measures based on systems such as RiskMetrics' sister, CreditMetrics, have also shown their worth as measures of credit risk, and for dealing with credit‐related derivatives. In addition, VaR can be used to measure cashflow risks and even operational risks. However, these areas are mainly concerned with risks over a relatively short time horizon, and VaR has had a more limited impact so far on the insurance and pensions literatures that are mainly concerned with longer‐term risks.

Securing ethical approval can be a frustrating and opaque experience for some creative practice research students who may find the processes required of them not well suited to their specific inquiry. This can lead to an erosion of trust between students and their institutions. This paper aims to synthesize perspectives representing both creative practice research supervisors and Institutional Review Boards (IRBs) to develop recommendations for improving processes and supporting creative practice research training.

The authors used dialogical inquiry (Wells et al., 2021) to facilitate a dialogue between the authors, who represent different stakeholders in the ethical review process for creative arts research students. Focus topics for the dialogue were developed collaboratively based on existing literature.

Based on the dialogue, the authors make the following recommendations: frame ethics as part of project design alongside aims and methodology rather than as project logistics; structure ethics review processes to ensure ongoing engagement between research students and IRBs; and share exemplars and templates as part of research training. Additionally, the authors advocate for the need to create continuing opportunities for dialogue.

Previous work interrogating ethical review processes for creative practice research has adopted a clear position from either a creative practice researcher or an IRB member perspective. This dialogue facilitates a novel synthesis of these positions, ensuring the recommendations support the objectives of both IRBs and creative practice researchers.

The purpose of this paper is to assess the behavioural and psychological effects on people with intellectual disabilities of transferring to an environment influenced by patient choice and low secure standards.

Patients and staff transferring from a non-optimal environment to one driven by low secure standards compared the homeliness, ward climate and satisfaction with the two wards. Comparisons were made between the occurrences of risk behaviours on the two wards.

The new environment was rated by staff as more homely while patients’ increased satisfaction with the new ward was reflected in social climate ratings of patient cohesion and experienced safety. The latter findings were reinforced by an objective reduction in risk behaviours in the new environment.

Treatment interventions need to optimise research findings that attest to the influence of the environment on the behaviour of patients with intellectual disabilities.

Findings highlight need to increase the focus on aspects of the built environment in planning the treatment of women in secure care.

Over the last decade, international accounting harmonization and convergence and the increasing adoption of IFRS as national standards have become dominant topics in international accounting research (Alp & Ustundag, 2009; Ashbaugh & Pincus, 2001; Cairns, Massoudi, Taplin, & Tarca, 2011; Christensen et al., 2007; Daske, 2006; Daske & Gebhardt, 2006; Daske et al., 2008; Ding et al., 2007; Gastón, García, Jarne, & Laínez Gadea, 2010; Haverals, 2007; Hellmann, Perera, & Patel, 2010; Lantto & Sahlström, 2008; Othman & Zeghal, 2006; Peng & van der Laan Smith, 2010; Schleicher, Tahoun, & Walker, 2010; Tyrrall et al., 2007). In this move toward convergence, the politics associated with IAS setting by the IASB has become an important and controversial topic in international accounting research. Although previous studies have aimed to examine political issues and stakeholder's perception toward the standard-setting process of the IASB (Alali & Cao, 2010; Chiapello & Medjad, 2009; de Lange & Howieson, 2006), no study has critically examined the complexity of factors influencing attitudes and public opinion toward this standard-setting process. Given that attitudes are likely to guide behavior and lead stakeholders to either advance the work of the IASB or create obstacles, it is timely and relevant to analyze attitudes toward this issue. A recent study has provided evidence that stakeholders’ acceptance of IFRS and preparers’ overall perception of IFRS may influence compliance and the quality of financial reports (Navarro-García & Bastida, 2010). As such, it is the objective of this chapter to provide insights into determinants of attitudes toward the IASB's standard setting and critically examine the influence of power structures and perceived legitimacy on individual attitudes and public opinion.¹ Specifically, this study examines German attitudes toward the promotion of professional judgment by the IASB since the adoption of IFRS in the EU in 2005.

This chapter provides insights into young peoples’ perceptions of intercultural relationships. Intercultural relationships consist of partners with different racial, ethnic or religious backgrounds. Increasing migration rates, multicultural societies and supportive societal attitudes have created more opportunities for intercultural relationships to form. These factors have contributed to the growing rates of intercultural couples in Australia. It is important to note that some intercultural partners face social barriers that are less common among non-intercultural partners. Young people are of particular interest since intercultural relationship rates are higher in younger generations and education settings are becoming more multicultural. Nonetheless, the complexities of contemporary intercultural relationships and how they may render young people vulnerable has been often overlooked. This chapter is based on a case study that responds to an overarching question: How do young people perceive intercultural relationships? The study involved semi-structured interviews with eight participants between 20 and 26 years of age. The participants had diverse backgrounds and lived in Melbourne. The findings reveal perceptions of significance and acceptance of intercultural relationships. Also revealed are perceptions of social factors that perpetuate vulnerability relating to intercultural relationships in terms of stereotyping, racism and people’s reactions more generally.

This paper is concerned with International Accounting Standards (IAS) and their impact upon existing accounting practices for property within the UK. It also anticipates the wider international and European demands for IAS. There are two primary points to consider. First, the European Union (EU) has stated that it expects publicly listed companies quoted on the stock exchanges of EU member states to adopt International Accounting Standards by 2005. Others are encouraged to do so, with an implication that this will become mandatory at some future date. In earlier papers, the authors examined the recent changes within property accounting and the role played by property professionals within that process. This paper examines the requirements of international standards within the context of the British position as explained earlier. Differences are noted, the contrasting debates analysed and suggestions offered for corporate real estate professionals to consider. Secondly, unlike British Accounting Standards, IAS do not recognise property professionals or any professional organisation representing them, such as the International Valuation Standards Committee (IVSC), and none of their regulations are represented within the standards. This situation is examined, and commentary provided upon the repercussions and possible solutions.

Knight's Industrial Law Reports goes into a new style and format as Managerial Law This issue of KILR is restyled Managerial Law and it now appears on a continuous updating basis rather than as a monthly routine affair.