Commonwealth convergence toward a narrower scope of auditor liability to third parties for negligent misstatements

There have been fundamental shifts in the legal liabilities of auditors in the twentieth century. The article analyses myriad cases. It reveals that case rulings in the later decades moderated previous decisions that had resulted in an expansion of the scope of auditor liability. It shows that there has been a convergence in approach within Commonwealth nations in respect of auditor liability for negligent misstatements. Numerous factors are identified that explain, first the expansion of auditor liability in the early to middle decades of the twentieth century, and also its subsequent reversal in letter decades. The article concludes by arguing that the current positions not likely to remain. The decisions of the courts are shown to be the products of continual struggle to balance the respective rights and interest of auditors, investors (both current and prospective) and the wider community

Actuaries, Conflicts of Interest and Professional Independence: The Case of James Hardie Industries Limited

conflicts of interest, actuaries, professional independence, virtue ethics, James Hardie Industries Limited,

Testing times: in-house counsel and independence

Independence has long been seen as a key to ethical lawyering. It is associated with improving the quality of legal work, and promoting advice that aligns the client's interests with the 'set of general social norms'. It is seen as so important that it 'defines the lawyer as a professional'. Yet lawyers' independence also presents some difficulties. Despite the exhortations in its favour over many years, the term remains vague and under-developed. Without a clear concept of what is being sought, it is difficult to ascertain what value can be given to it, and what techniques of regulation can be used to encourage it. The process becomes a fairly unproductive one of examining lawyers for traits of independence and failing to find any. This has led more than one commentator to doubt the value of independence as a way of considering legal practiceSuzanne Le Mirehttp://search.informit.com.au/documentSummary;dn=244925702612925;res=IELHS

Colliding Interests – Age as an Automobile Insurance Rating Variable: Equitable Rate-Making or Unfair Discrimination?

Many private business relationships are increasingly characterized by claims that certain actions should not be permitted since particular right claims are involved. Such claims should be taken seriously, but are they always ethically legitimate? This paper analyzes one context, the use of age as a rating variable in the pricing of automobile insurance, where such claims are made. By identifying, evaluating and assessing the relevant basis for the differentiation, actuarial equity, it is concluded that there is an ethical basis for such a practice. The analysis also provides an equivalent means for considering other such analogous claims where actuarial equity is involved. Copyright Springer Science+Business Media, Inc. 2007actuarial equity, age as an insurance rating variable, age discrimination, risk classification,