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Papers by philomena Leung
Journal of Public Budgeting, Accounting & Financial Management, Mar 1, 2017
This paper examines whether public sector reforms in a developing country is consistent with the ... more This paper examines whether public sector reforms in a developing country is consistent with the principles of new public management (NPM). It examines whether Indonesian public sector reforms from the late 1990s to 2015, specifically the adoption of accrual accounting, are motivated by NPM philosophy. Reviewing and analysing Government regulations and reports, the study finds that the reforms are an attempt to implement NPM, specifically in relation to five financial management aspects (i.e. market-oriented, budgeting, performance management, financial reporting and auditing systems). However, the reforms are inconsistent with the NPM philosophy of efficiency and effectiveness in public service provisions. By requiring the use of the existing system, the reforms actually created inefficiency. This research is novel in investigating the gap between 'ideal concepts' and examining practices in an emerging country context.
Social Science Research Network, 2015
Purpose-This paper aims to explore the changing rationale of voluntary GHG disclosure by non-GHG ... more Purpose-This paper aims to explore the changing rationale of voluntary GHG disclosure by non-GHG registered companies over time and among industry sectors. Design/methodology/approach-A GHG disclosure index is used to evaluate the levels of GHG disclosure in 2009 and 2011 annual reports of non-registered companies. Various specific categories based on the nature of GHG disclosure and consistent with prior GHG disclosure studies are defined to distinguish "hard" to mimic disclosure items and "soft talk" disclosure items. Findings-This research highlights that the average level of GHG disclosure from "hard" to mimic disclosure items increased by non-GHG registered companies in less carbon-intensive industries and over time. In General, non-GHG registered companies seem to improve their disclosure by incorporating more "behavioural management" actions rather than "symbolic" actions. Consistent with voluntary disclosure and signalling theories, companies having good news to tell disclose their superior GHG information to promote their superior environmental performance.
Afro-Asian J. of Finance and Accounting, 2018
Based on agency theory, this study investigates the consequences of carbon disclosure by non-gree... more Based on agency theory, this study investigates the consequences of carbon disclosure by non-greenhouse gas registered Australian companies on information asymmetry measures over a period after the introduction of the National Greenhouse and Energy Reporting Act 2007 and before the introduction of the Australian carbon tax. The level of carbon disclosure is scored through the content analysis of the annual reports. The findings support that carbon disclosure is negatively related to information asymmetry measures: the bid-ask spread and stock return volatility, in the year following disclosure. Overall, the research results are consistent with predictions of the agency theory and indicate that companies bear the extra voluntary reporting costs to achieve the perceived benefits of disclosure. The findings should be useful for corporate and stakeholders who are concerned about the value relevance of carbon disclosure in financial markets. For accounting standard setters, it highlights the urgency of carbon reporting guidelines.
Editorial for the reading list "Ethics and governance in accounting and auditing" compi... more Editorial for the reading list "Ethics and governance in accounting and auditing" compiled by Andrew McNeill for Emerald Reading Listassist.5 page(s
Advances in Human Resources Management and Organizational Development
This chapter provides evidence of the practical implementation of an aspect of ‘new ways of worki... more This chapter provides evidence of the practical implementation of an aspect of ‘new ways of working', that is, flexible work arrangements (FWA) in the Australian accounting profession. It reports and analyses the results of interviews of twenty accounting professionals conducted in 2014. FWA refers to the interrelationship between temporal and spatial flexibility which are facilitated by technology. In this chapter, evidence is provided of the public rhetoric regarding FWA by accounting firms, particularly the Big Four firms. This is contrasted with anecdotal testimony from the interviews to reveal the success with which these goals have been adopted and implemented across the accounting profession, and the impact they have on work-life balance (WLB). The findings reveal inconsistencies and prejudices still in place in Australian accounting firms and suggest that, although there has been some success in this area, some conservative views still need challenging.
Accounting Ethics Education, 2020
New public financial management (NPFM) has been rec ognised as a global movement (Olson et al., 1... more New public financial management (NPFM) has been rec ognised as a global movement (Olson et al., 1998a; Olson et al., 1998b). Many co untries have implemented NPFM reforms, such as Australia, New Zealand, Spain, Sweden, the United Kingdom, and United States, Canada, Ireland, Italy, the Netherlands, and Easter n European countries, such as Bulgaria, Lithuania, and Romania (Olson et al., 1998b; Humphr ey et al., 2005).
Editorial for the reading list "The financial report audit - a global perspective" comp... more Editorial for the reading list "The financial report audit - a global perspective" compiled by Nicole Chen for Emerald Reading Listassist.5 page(s
This 2013 work conditions, balance and gender study builds on previous studies conducted for the ... more This 2013 work conditions, balance and gender study builds on previous studies conducted for the then Institute of Chartered Accountants in Australia (ICAA), which is now Chartered Accountants Australia and New Zealand (CA ANZ). The current study aims to review the latest work conditions of Chartered Accountants (CAs) in Australia and to identify any relevant trends with the aim of further improving the work-life balance of CAs in Australia
The purpose of this paper is to propose a framework of ethics education that promotes the structu... more The purpose of this paper is to propose a framework of ethics education that promotes the structured learning of ethics in the accounting discipline. The Ethics Education Framework (EEF) is based on three key inter-related components that include: Rest’s (1986) Four-Component Model of ethical decision-making and behaviour; the key cognitive and behavioural objectives of ethics education; and the discrete and pervasive approaches to delivering content. The EEF provides university students and professional accountants a structure to learn to identify, analyse and resolve ethical issues, to the point of action. The EEF is a four-stage learning continuum represented as a set of building blocks which introduces ethical concepts and then reinforces and develops new levels of understanding with progressive stages. This paper describes the EEF, and includes a discussion of how it compares with other ethics education models, and an analysis of the support through responses by professional organisations (based on an Exposure Draft issued by the International Federation of Accountants (IFAC), as the initial International Education Practice Statement). The IFAC has now revised its International Education Standard (IES 4) in relation to ethics, with a commentary period till July 2011.20 page(s
Eea 2006 29th Annual Congress Programe and Collected Abstracts, 2006
Australian Accounting Review
Independent financial statement auditors are appointed by shareholders to provide reasonable assu... more Independent financial statement auditors are appointed by shareholders to provide reasonable assurance on the reliability of financial statements published by management of reporting entities. However, in the last two decades questions have been raised concerning the credibility of external audits due to their apparent failure, especially following the spate of corporate collapses. This paper applies a critical review of literature and a multi-theoretical governance perspective to examine the inherent limitation of independent external audits and argues that employees can contribute to reducing the limitation gap by strengthening governance through a structure that incorporates a board and employee management representation. It is argued that through this arrangement, auditors can benefit as they will be privy to additional information from employees about issues such as irregular matters that impact upon shareholders and other stakeholders, and control weaknesses across governance levels, allowing auditors to establish a broader understanding of organisational information that may otherwise be less readily available. Thus auditors can base their judgements in terms of audit risks, and develop audit plans based on more reliable information. The theoretical proposition emerging from these findings is that the traditional governance model should be refined to include employees as an additional component of governance.
This chapter provides evidence of the practical implementation of an aspect of ‘new ways of worki... more This chapter provides evidence of the practical implementation of an aspect of ‘new ways of working’, that is, flexible work arrangements (FWA) in the Australian accounting profession. It reports and analyses the results of interviews of twenty accounting professionals conducted in 2014. FWA refers to the interrelationship between temporal and spatial flexibility which are facilitated by technology. In this chapter, evidence is provided of the public rhetoric regarding FWA by accounting firms, particularly the Big Four firms. This is contrasted with anecdotal testimony from the interviews to reveal the success with which these goals have been adopted and implemented across the accounting profession, and the impact they have on work-life balance (WLB). The findings reveal inconsistencies and prejudices still in place in Australian accounting firms and suggest that, although there has been some success in this area, some conservative views still need challenging.
Australasian Journal of Environmental Management
Journal of Finance and Accounting
Remote Work and Collaboration, 2000
Meditari Accountancy Research, 2016
Journal of Public Budgeting, Accounting & Financial Management, Mar 1, 2017
This paper examines whether public sector reforms in a developing country is consistent with the ... more This paper examines whether public sector reforms in a developing country is consistent with the principles of new public management (NPM). It examines whether Indonesian public sector reforms from the late 1990s to 2015, specifically the adoption of accrual accounting, are motivated by NPM philosophy. Reviewing and analysing Government regulations and reports, the study finds that the reforms are an attempt to implement NPM, specifically in relation to five financial management aspects (i.e. market-oriented, budgeting, performance management, financial reporting and auditing systems). However, the reforms are inconsistent with the NPM philosophy of efficiency and effectiveness in public service provisions. By requiring the use of the existing system, the reforms actually created inefficiency. This research is novel in investigating the gap between 'ideal concepts' and examining practices in an emerging country context.
Social Science Research Network, 2015
Purpose-This paper aims to explore the changing rationale of voluntary GHG disclosure by non-GHG ... more Purpose-This paper aims to explore the changing rationale of voluntary GHG disclosure by non-GHG registered companies over time and among industry sectors. Design/methodology/approach-A GHG disclosure index is used to evaluate the levels of GHG disclosure in 2009 and 2011 annual reports of non-registered companies. Various specific categories based on the nature of GHG disclosure and consistent with prior GHG disclosure studies are defined to distinguish "hard" to mimic disclosure items and "soft talk" disclosure items. Findings-This research highlights that the average level of GHG disclosure from "hard" to mimic disclosure items increased by non-GHG registered companies in less carbon-intensive industries and over time. In General, non-GHG registered companies seem to improve their disclosure by incorporating more "behavioural management" actions rather than "symbolic" actions. Consistent with voluntary disclosure and signalling theories, companies having good news to tell disclose their superior GHG information to promote their superior environmental performance.
Afro-Asian J. of Finance and Accounting, 2018
Based on agency theory, this study investigates the consequences of carbon disclosure by non-gree... more Based on agency theory, this study investigates the consequences of carbon disclosure by non-greenhouse gas registered Australian companies on information asymmetry measures over a period after the introduction of the National Greenhouse and Energy Reporting Act 2007 and before the introduction of the Australian carbon tax. The level of carbon disclosure is scored through the content analysis of the annual reports. The findings support that carbon disclosure is negatively related to information asymmetry measures: the bid-ask spread and stock return volatility, in the year following disclosure. Overall, the research results are consistent with predictions of the agency theory and indicate that companies bear the extra voluntary reporting costs to achieve the perceived benefits of disclosure. The findings should be useful for corporate and stakeholders who are concerned about the value relevance of carbon disclosure in financial markets. For accounting standard setters, it highlights the urgency of carbon reporting guidelines.
Editorial for the reading list "Ethics and governance in accounting and auditing" compi... more Editorial for the reading list "Ethics and governance in accounting and auditing" compiled by Andrew McNeill for Emerald Reading Listassist.5 page(s
Advances in Human Resources Management and Organizational Development
This chapter provides evidence of the practical implementation of an aspect of ‘new ways of worki... more This chapter provides evidence of the practical implementation of an aspect of ‘new ways of working', that is, flexible work arrangements (FWA) in the Australian accounting profession. It reports and analyses the results of interviews of twenty accounting professionals conducted in 2014. FWA refers to the interrelationship between temporal and spatial flexibility which are facilitated by technology. In this chapter, evidence is provided of the public rhetoric regarding FWA by accounting firms, particularly the Big Four firms. This is contrasted with anecdotal testimony from the interviews to reveal the success with which these goals have been adopted and implemented across the accounting profession, and the impact they have on work-life balance (WLB). The findings reveal inconsistencies and prejudices still in place in Australian accounting firms and suggest that, although there has been some success in this area, some conservative views still need challenging.
Accounting Ethics Education, 2020
New public financial management (NPFM) has been rec ognised as a global movement (Olson et al., 1... more New public financial management (NPFM) has been rec ognised as a global movement (Olson et al., 1998a; Olson et al., 1998b). Many co untries have implemented NPFM reforms, such as Australia, New Zealand, Spain, Sweden, the United Kingdom, and United States, Canada, Ireland, Italy, the Netherlands, and Easter n European countries, such as Bulgaria, Lithuania, and Romania (Olson et al., 1998b; Humphr ey et al., 2005).
Editorial for the reading list "The financial report audit - a global perspective" comp... more Editorial for the reading list "The financial report audit - a global perspective" compiled by Nicole Chen for Emerald Reading Listassist.5 page(s
This 2013 work conditions, balance and gender study builds on previous studies conducted for the ... more This 2013 work conditions, balance and gender study builds on previous studies conducted for the then Institute of Chartered Accountants in Australia (ICAA), which is now Chartered Accountants Australia and New Zealand (CA ANZ). The current study aims to review the latest work conditions of Chartered Accountants (CAs) in Australia and to identify any relevant trends with the aim of further improving the work-life balance of CAs in Australia
The purpose of this paper is to propose a framework of ethics education that promotes the structu... more The purpose of this paper is to propose a framework of ethics education that promotes the structured learning of ethics in the accounting discipline. The Ethics Education Framework (EEF) is based on three key inter-related components that include: Rest’s (1986) Four-Component Model of ethical decision-making and behaviour; the key cognitive and behavioural objectives of ethics education; and the discrete and pervasive approaches to delivering content. The EEF provides university students and professional accountants a structure to learn to identify, analyse and resolve ethical issues, to the point of action. The EEF is a four-stage learning continuum represented as a set of building blocks which introduces ethical concepts and then reinforces and develops new levels of understanding with progressive stages. This paper describes the EEF, and includes a discussion of how it compares with other ethics education models, and an analysis of the support through responses by professional organisations (based on an Exposure Draft issued by the International Federation of Accountants (IFAC), as the initial International Education Practice Statement). The IFAC has now revised its International Education Standard (IES 4) in relation to ethics, with a commentary period till July 2011.20 page(s
Eea 2006 29th Annual Congress Programe and Collected Abstracts, 2006
Australian Accounting Review
Independent financial statement auditors are appointed by shareholders to provide reasonable assu... more Independent financial statement auditors are appointed by shareholders to provide reasonable assurance on the reliability of financial statements published by management of reporting entities. However, in the last two decades questions have been raised concerning the credibility of external audits due to their apparent failure, especially following the spate of corporate collapses. This paper applies a critical review of literature and a multi-theoretical governance perspective to examine the inherent limitation of independent external audits and argues that employees can contribute to reducing the limitation gap by strengthening governance through a structure that incorporates a board and employee management representation. It is argued that through this arrangement, auditors can benefit as they will be privy to additional information from employees about issues such as irregular matters that impact upon shareholders and other stakeholders, and control weaknesses across governance levels, allowing auditors to establish a broader understanding of organisational information that may otherwise be less readily available. Thus auditors can base their judgements in terms of audit risks, and develop audit plans based on more reliable information. The theoretical proposition emerging from these findings is that the traditional governance model should be refined to include employees as an additional component of governance.
This chapter provides evidence of the practical implementation of an aspect of ‘new ways of worki... more This chapter provides evidence of the practical implementation of an aspect of ‘new ways of working’, that is, flexible work arrangements (FWA) in the Australian accounting profession. It reports and analyses the results of interviews of twenty accounting professionals conducted in 2014. FWA refers to the interrelationship between temporal and spatial flexibility which are facilitated by technology. In this chapter, evidence is provided of the public rhetoric regarding FWA by accounting firms, particularly the Big Four firms. This is contrasted with anecdotal testimony from the interviews to reveal the success with which these goals have been adopted and implemented across the accounting profession, and the impact they have on work-life balance (WLB). The findings reveal inconsistencies and prejudices still in place in Australian accounting firms and suggest that, although there has been some success in this area, some conservative views still need challenging.
Australasian Journal of Environmental Management
Journal of Finance and Accounting
Remote Work and Collaboration, 2000
Meditari Accountancy Research, 2016