Putting the house in order

Article Abstract:

Committee members and senior officers of housing associations must be aware of their responsibilities and liabilities according to the laws that govern these associations. Committee members derive their responsibilities from the association's by-laws, the Industrial and Provident Societies Act, the Companies Act, the Housing Act, and Scottish Homes regulations. Management committees cannot make any decision that is outside the rules of the association. Committee members and officers may be held liable if they go against the advice of Scottish Homes when it has the authority to give direction. Officers and members may also incur liability if they offer negligent professional advice to the association. Likewise, liability for part of the association's debts may be incurred if committee members and officers persist in trading when it is clear that the association is headed toward insolvency.

Laws, regulations and rules, Associations, institutions, etc., Associations, Powers and duties, Housing authorities

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Questions of values

Article Abstract:

Alan Malcolm, corporate finance partner of KPMG Peat Marwick in Scotland, comments on Professor Simon Keane's study 'A Survey of the Valuation Practices of Professional Accounting Firms in Scotland.' Malcolm raises some questions regarding Keane's views on the application of the Capital Average Pricing Model to unquoted valuations, double counting, the risk model and adjustment for lack of marketability, the treatment of risk in unlisted and quoted company shares, the influence of investment decisions on investment decisions, and how the existing valuation process operates. Keane's responses to some of the more significant points raised by Malcolm are also included.

Analysis, Evaluation, Criticism and interpretation, Valuation, Keane, Simon, Malcolm, Alan

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Putting money values in perspective

Article Abstract:

Accountants should actively discourage the misuse of statistics often seen in the news media and in political debates. Accountants are often guilty of presenting debased figures as facts. The practice of inflating profits has become especially prevalent during contested corporate acquisitions. If financial reports and accountants are to retain credibility, creative accounting practices should be discouraged.

Usage, Accounting, Ethical aspects, Statistics, Statistics (Data), Corporation reports, Company reports

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