Ian Fillis, Boram Lee and Ian Fraser
The authors consider the role of institutional relationships in providing an exhibition as a launching platform for emerging artists to develop their careers, as well as…
Abstract
Purpose
The authors consider the role of institutional relationships in providing an exhibition as a launching platform for emerging artists to develop their careers, as well as contributing to the broader creative economy. The authors view this as an entrepreneurial intervention in challenging the status quo through its potential to stimulate artist career development.
Design/methodology/approach
Data were collected using a case study approach in order to understand the complex inter-relationships between stakeholders of an emerging artists' exhibition at a well-known art institution. A total of 26 interviews were held with a selection of the exhibiting artists, artists from previous years' exhibitions, institution staff, the exhibition selection panel and major prize givers.
Findings
The main relationship value created by the institution as perceived by the exhibiting artists was high-level publicity and exposure of their work. Related benefits such as the potential to build career-enhancing networks were also emphasised. Some of the artists interviewed were aware of the art market structure and how they could create and sustain value within it. Others expressed a lack of awareness of and interest in its operationalisation where more assistance from the institution could help.
Research limitations/implications
This research focussed on the institutional relationships relating to one organisation, albeit one which leads the way in terms of helping to accelerate emerging artist careers. However, best practice lessons emerge from the research in terms of informing similar institutions elsewhere. The authors move beyond quantitative measurement of cultural value activities in developing in-depth qualitative insight into these relationships so that more nuanced understanding is revealed.
Practical implications
There is a need to develop pathways to assist new graduates and for a more strategic focus by art institutions to help develop their careers by creating and sustaining impact and engagement in the marketplace. This will be of interest to policy makers in helping to shape programmes of assistance in the future beyond the art institution. The authors also uncover broader cultural value impacts beyond the exhibition site where these institutional relationships can contribute positively to health and well-being.
Originality/value
The exhibition is one of only a very limited number of similar events throughout the UK and can be viewed as a successful entrepreneurial intervention.
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The purpose of this paper is to offer a critique of Sen’s utilisation of aspects of Marx’s thought that inform his idea of justice. Marx’s ideas appear in four main areas of…
Abstract
Purpose
The purpose of this paper is to offer a critique of Sen’s utilisation of aspects of Marx’s thought that inform his idea of justice. Marx’s ideas appear in four main areas of discussion: Sen’s positioning of Marx in relation to the other thinkers in his approach to justice; Marx’s fluid notion of identity and its relation to social choice; the problem of going beyond a subjective perspective to consider objective concerns by considering the impact of what Sen calls “objective illusion”; and the issue of just redistribution.
Design/methodology/approach
The author utilises a Marxian framework of analysis that engages in immanent critique of Sen’s use of Marx in relation to his theory of justice. This is accomplished through textual analysis and by critical assessment of the analytical Marxist tradition that Sen can be seen as using in his own theories with all their inherent weaknesses.
Findings
Sen’s attempt to use Marx’s ideas to inform his theory of justice founder because: he groups Marx with thinkers that would not accept his desire for the abolition of capitalism and a more just society beyond it. He reduces Marx to the analytical tradition with all its inherent weaknesses. He resorts to a methodological individualist approach of choice that Marx rejects. His search for positional objectivity is undermined by the power of capitalist ideology and ruling class interest. His discussion of just redistribution ignores how Marx’s approach can overcome the arbitrariness that Sen thinks is inevitable when making just decisions.
Research limitations/implications
Theoretically, the paper suggests that, based on immanent critique and textual analysis, Sen’s use of Marx’s idea of justice is problematic most notably because Sen keeps his analysis within the framework of capitalism that Marx would reject. The implication for further research is the development of Marx’s own arguments on what constitutes a just society.
Practical implications
Practically, the paper raises questions about the capacity for justice to be achieved within the capitalist system for the reasons discussed in relation to Sen.
Social implications
Socially, the paper implies that far greater measures to tackle the injustices of the world are necessary than seem to be admitted to by justice theorists such as Sen.
Originality/value
The author shows that the use of Marx’s theories to inform Sen’s notion of justice, while to be welcomed, lose their efficacious power to expose the full injustice of capitalism and the need for its transcendence.
Ian Fraser and Chris Pong
The purpose of this paper is to provide an overview of the challenges and opportunities currently facing external auditors at a time of economic and financial crisis.
Abstract
Purpose
The purpose of this paper is to provide an overview of the challenges and opportunities currently facing external auditors at a time of economic and financial crisis.
Design/methodology/approach
The paper has a particular focus on the other contributions to this special issue of Managerial Auditing Journal and provides a reflective synthesis of these while making reference to other relevant literature as appropriate.
Findings
The paper puts forward various suggestions for future academic research that might improve auditing practice. Also, the principal aim of this special issue has been to spotlight differing perspectives on some of the perennial problems which have plagued auditing for generations and to suggest possible ways forward.
Practical implications
Various suggestions for future academic research that might improve auditing practice are put forward in the paper.
Originality/value
Major contemporary issues facing the auditing profession (or industry) are summarized. The paper highlights the diversity of value stances that exists in the audit academy and may (together with the other papers forming part of this special issue) be useful for introducing university students studying auditing at intermediate or advanced levels to a variety of current auditing issues and debates.
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Ian Frazer rejects the claim that banks and pension funds have ‘boycotted’ investment in industry. The reason that the lending institutions have a surplus of investment cash, he…
Abstract
Ian Frazer rejects the claim that banks and pension funds have ‘boycotted’ investment in industry. The reason that the lending institutions have a surplus of investment cash, he says, is that industry itself lacks the confidence to borrow.
Pierre Berthon, Colin Campbell, Leyland Pitt and Ian McCarthy
This paper aims to report on the construction of a scale to measure a firm's stance towards creative consumers; that is, customers who adapt, modify or transform a proprietary…
Abstract
Purpose
This paper aims to report on the construction of a scale to measure a firm's stance towards creative consumers; that is, customers who adapt, modify or transform a proprietary offering.
Design/methodology/approach
A measurement instrument, called the 3As, is developed to assess the extent to which an organization is aware of its creative customers, its attitude towards its creative customers, and finally the action it takes in response to its creative customers. A total of 178 Executive MBA students were used to fine‐tune a set of items using exploratory factor analysis (EFA).
Findings
An empirical test of reliability and validity resulted in three clearly defined factors or dimensions, which correspond to the three constructs of awareness, attitude and action. The relationship between the scales' prediction of stances and a manager's self typing of the organization is assessed, and the relationship between firm stance, environmental turbulence, and performance explored.
Originality/value
This paper provides the first scale for measuring a firm's stance toward creative consumers.
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Imad Kutum, Ian Fraser and Khaled Hussainey
This paper aims to explore the application of the business risk audit (BRA) approach within non-Big-4 audit firms in the USA, the UK and Canada. This paper focuses on the…
Abstract
Purpose
This paper aims to explore the application of the business risk audit (BRA) approach within non-Big-4 audit firms in the USA, the UK and Canada. This paper focuses on the motivation for adopting this approach for non-Big-4 audit firms in the three countries, and the advantages, disadvantages and aftermath of applying this method.
Design/methodology/approach
A combination of qualitative and quantitative methods to obtain the data necessary to address the research questions was used.
Findings
It is found that non-Big-4 audit firms in the three countries have adopted BRA; their motivation was primarily to follow the standards in each country, and the general trend in the industry. The advantages identified are consistent with previous research; a direct benefit was noted for audit effectiveness and risk management for both clients and auditors. One major disadvantage of applying BRA is the cost burden to both the audit firm and their clients. Some of the interviewees claimed that this method is better suited to large firms and large audits.
Originality/value
This is an innovative study that addresses a contemporary auditing issue. The majority of the audit research studies concentrate on the big audit firm practices; this study is the first to examine the application of audit practices within smaller audit firms.
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The purpose of this paper is to challenge the conceptual basis upon which the current auditing standards are based.
Abstract
Purpose
The purpose of this paper is to challenge the conceptual basis upon which the current auditing standards are based.
Design/methodology/approach
The paper critically appraises the Auditors' Code published by the Auditing Practices Board and containing the nine fundamental and enduring principles upon which current auditing standards are based.
Findings
It is argued that the nine enduring principles should be replaced by seven enduring tensions – the fault lines of auditing – so as to rethink the conceptual basis of auditing standards. Five of these are drawn from the paper's analysis of the Auditors' Code and two are based upon the author's experience of the issues arising in the preparation of the Code and the ensuing debate.
Research limitations/implications
Further research should be carried out to test the robustness of the seven enduring tensions as the basis for standard setting. A first step might be to map the existing standards onto the new conceptual basis.
Practical implications
Standard setters can deploy a new architecture for auditing standards and one that addresses the tensions inherent in auditing. Standard setting should be recognised as an activity dominated by ethical choices and concerns.
Originality/value
The new conceptual basis should provide us with a much closer reading of what auditing is, and its potential for development without expectation gaps.
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The paper aims to report research into ways by which companies identify risks and embed risk management and control procedures and also to report on interactions between internal…
Abstract
Purpose
The paper aims to report research into ways by which companies identify risks and embed risk management and control procedures and also to report on interactions between internal audit and audit committees and their contributions to risk management.
Design/methodology/approach
The first section of the paper comprises a review of the literature on risk management and the roles played by internal audit and audit committees. The paper then reports the results of a series of interviews with officers in UK plcs and external auditors on the issues identified from the literature.
Findings
There was agreement that, while parent boards have ultimate responsibility, the ownership of risks must reside with management at lower levels. Companies tended to adopt a multi‐procedural approach to developing consistent risk management procedures. Internal auditors were believed to have a role to play but concerns were expressed about expertise and independence. The paper recommends a split of the internal audit and risk management functions to preserve internal audit independence and clarify internal audit roles. Audit committees are increasingly involved in risk management but there are doubts as to whether they have the time and expertise to undertake more than high level risk reviews. The paper, therefore, recommends that separate risk committees should be established to direct risk management, with audit committees adopting a watching brief over the process.
Originality/value
The Turnbull Report emerged against a background of growing demand for assurance on risk management and control effectiveness and the approach adopted has been endorsed by the Turnbull Review Group. This paper is a timely evaluation of the work being done by UK plcs in this area and indicates that there are issues to be resolved before risk management is fully embedded in company operations.
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Prem Sikka, Steven Filling and Pik Liew
The purpose of this paper is to stimulate debates about contemporary auditing practices.
Abstract
Purpose
The purpose of this paper is to stimulate debates about contemporary auditing practices.
Design/methodology/approach
The paper builds a generalised theory of auditing to pose some questions about the basic auditing model, notions of audit quality and the possibility that some transactions cannot be audited in the traditional way.
Findings
It is argued that the basic auditing model is flawed since it makes auditors financially dependent on companies. The conventional approach to “audit quality” is also incomplete as it pays little attention to the organisational and social context of auditing. It also argues that as companies have diversified into new forms of investment and complex financial instruments, some transactions may be not be capable of being audited in the traditional way.
Research limitations/implications
The paper does not offer a comprehensive critique of contemporary auditing issues. Rather it is a focus on some selected issues.
Practical implications
The paper encourages reflections on contemporary practices and offers some suggestions for reforms.
Originality/value
The paper is a combination of theory, evidence and speculation on contemporary issues.