Australian corporate collapse: The case of HIH Insurance

Mirshekary, Soheila; Yaftian, Ali; Cross, Damien

doi:10.1057/palgrave.fsm.4770157

Cited by 7 publications

(6 citation statements)

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“…After going public in 1992, the company expanded by aggressively acquiring other firms. In particular, HIH purchased CIC in the mid-1990s (Mirshekary et al , 2005). As a result, Winterthur, a large Swiss insurance firm, became a major shareholder of HHI from the CIC takeover.…”

Section: Section 1: a Review Of Corporate Fraud Casesmentioning

confidence: 99%

Blockchain and corporate fraud

Benedetti

Nikbakht

Sarkar

et al. 2020

JFC

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Purpose The purpose of this paper is to develop conceptual designs for blockchain implementations aimed at reducing corporate fraud. The proposed framework consists of different levels of implementation with specific examples for each level. Design/methodology/approach The paper uses a multi-level framework to highlight the properties of blockchain technology as suitable for reducing corporate fraud. The five levels of technological complexity designed for this research include information storage, information flow, information processing, information enhancement and information and financial integration. Specific cases of corporate fraud are discussed to complement the proposed methodology. Findings The potential ability to limit fraud and increase transparency could greatly improve faith in financial reporting. These benefits accrue to all capital market participants. The blockchain infrastructure can significantly improve the existing monitoring system and provide value added in detecting, deterring, and documenting possible fraud. Originality/value The paper contributes to the growing field on corporate fraud and blockchain technology. The paper is novel in the implementation of the nascent blockchain methods to detect and deter fraud at the organizational level. The proposed five conceptual levels provide practical use.

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Section: Section 1: a Review Of Corporate Fraud Casesmentioning

confidence: 99%

Blockchain and corporate fraud

Benedetti

Nikbakht

Sarkar

et al. 2020

JFC

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“…Also in the auditor setting is Mirshekary, Yaftian and Cross" (2005) Similarly, in the academic literature Boughton, Nowak, and Washburn (1996) At this point it is important to discuss the influence time is believed to have on the relationships between the relational variables and the dark side constructs discussed below. Time or length of the relationship is believed to moderate these relationships.…”

Section: Shared Values and Relational Myopiamentioning

confidence: 99%

An empirical examination of the dark side of relationship marketing within a business-to-business context

Baker¹

2019

Handbook of Research on Distribution Channels

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“…The Institute of Chartered Accountants in Australia (ICAA) and CPA Australia (CPAAust) issue a Joint Code of Professional Conduct which applies equally to accountants and auditors. According to Mirshekary S, Yaftian A [11], recently, it has been found auditors to owe a duty of care to general public in particular situations. It could be argued whether the auditor's twofold roles at Harris Scarfe observed with this assertion being regarded.…”

Section: H Ethical Issuesmentioning

confidence: 99%

“…Legislation comprises 41 clauses which mention about the independence of auditors, rotation of auditors, quality of audit, liabilities of auditor, requirements of the financial report disclosures. CLERP 9 enhanced the transparency, accountability and shareholder rights [11].…”

Section: A Reactions Of Corporate Collapses In Australiamentioning

confidence: 99%

Corporate Collapses in Australia: Case of Harris Scarfe

Kavrar¹,

Yılmaz²

2017

JOEBM

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The corporate collapses in the early years of 2000 in Australia showed that accounting and auditing professions have noticeably been less good than how they are supposed to be. As a result of the previous downfalls, there is no doubt that auditors grab most of the attention. There are a number of issues regarding auditors/audits that will be examined to discover where the irregularities came up from, such as management responsibilities, internal control, audit committee, ethics, and the auditor's legal liability. This paper aims to explore the implications of the previous corporate collapses on Accounting and Australian business and the Auditing profession in Australia by focusing on the case of Harris Scarfe which was collapsed with a debt of $265 million dollars in 2001. A number of scholarly articles and journals related to this area have been reviewed. This study also confirms the strong relationship between corporate failures and the role of auditors.

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Australian corporate collapse: The case of HIH Insurance

Cited by 7 publications

References 0 publications

Blockchain and corporate fraud

Blockchain and corporate fraud

An empirical examination of the dark side of relationship marketing within a business-to-business context

Corporate Collapses in Australia: Case of Harris Scarfe

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