Accounting and accountability in Fiji: A review and synthesis

This paper reviews accounting and accountability research in Fiji. The review is based on 41 papers which were published in accounting refereed journals, professional journals, edited book chapters and thesis and other refereed journals outside accounting. The reviews are over the years 1978 and onwards. In addition to categorization of the reviewed papers according to accounting topics, theories and methods of data collection, some themes to which the papers could be related are discussed. Financial reporting/ accountability research is the most popular research in Fiji followed by the new public management. Corporate governance research treads third. The paper findings suggest some directions for future accounting history research in Fiji and where the data can possibly be sourced for such research. We conclude that more future work is needed in the areas of accounting history which entails topics such as accounting and the state, performance auditing, indigenous accounting, financial reporting, SMEs and accountability in general

University accounting and business curricula on sustainability: Perceptions of undergraduate students

The challenge to embed sustainability in the formal curriculum has been troublesome for accounting academics. This study investigates sustainability in the accounting curriculum at a regional university in New Zealand. Sustainability practices are becoming an important issue given that many business activity problems have arisen over the years, unsustainable practices have resulted in societal and environmental damages. There has been an increasing recognition of the need for sustainability teaching in tertiary education. Education plays an important role in equipping graduates with the relevant sustainability skills to make informed decisions towards a more sustainable world. There is a need to examine how students respond to the teaching of sustainability in their courses. This will allow education providers to find out how student perceive sustainability education, and make changes to improve the teaching of sustainability. Literatures have claimed that students have positive attitudes towards sustainability; however, this does not mean that students are familiar with the concept of sustainability. There are business students who seem to perceive the study of sustainability to be less important when compared to other subjects. There still seems to be a shortage of research done on how students perceive sustainability. This paper contributes to the discussion needed to understand what sustainability skills are required by managers and how tertiary education programs in accounting may need to incorporate sustainability. The role of accounting schools in leading and managing change towards sustainability must be further informed

Data-driven Identification and Prediction of Power System Dynamics Using Linear Operators

In this paper, we propose linear operator theoretic framework involving Koopman operator for the data-driven identification of power system dynamics. We explicitly account for noise in the time series measurement data and propose robust approach for data-driven approximation of Koopman operator for the identification of nonlinear power system dynamics. The identified model is used for the prediction of state trajectories in the power system. The application of the framework is illustrated using an IEEE nine bus test system.Comment: Accepted for publication in IEEE Power and Energy System General Meeting 201

New public management and employee share ownership plan in Fiji’s public sector

This article provides insights into the implementation of new public management (NPM) practices in Fiji Telecom and whether the use of the employee share ownership scheme was helpful in the organisational change process. The NPM practices were influenced by the World Bank and International Monetary Fund who were the lenders to Fiji government. The adoption of NPM practices was part of a political, economic and public sector reforms introduced after 1989. The paper discusses the background and obstacles of the reform and how the employee share ownership scheme practice at a privatised Telecom Company assists employees to assimilate commercial business norms. The authors finally make recommendations for policy-makers in Fiji and other developing nations

Corporate governance practices in Fiji: An empirical investigation

This study investigates the nature and extent of compliance to the principle-based corporate governance initiatives by the listed companies in the South Pacific Stock Exchange (SPSE) in Fiji. Three important questions are addressed: (i) whether listed companies in Fiji have complied with the principle-based governance practices: (ii) did compliance with principle based recommendations lead to an improvement in the listed company‟s financial performance? and (iii) how the institutional factors have contributed towards corporate governance practices in Fiji? Panel data for the SPSE companies over the period 2008-2010 are analysed using ordinary least squares (OLS) regression. Tobin‟s Q, Return on Assets (ROA), Return on Equity (ROE) and Earnings Before Interest, Tax, Depreciation and Amortisation to Total Revenue (EBITDA2REV) metrics are used as dependent variables. Findings indicate that listed companies have adopted the Capital Market Development Authority‟s (CMDA) recommendations, establishing subcommittees for audit and remuneration, and having nonexecutive/ independent directors on the board. The result supports the view that the CMDA recommendations of board sub-committees (Audit and Remuneration) have had positive influence on company performance measured by Tobin‟s Q. The findings of this study give support to the principle-based corporate governance practices adopted in Fiji. The results of this study provide useful insights to both regulators and policy analysts (in Fiji and internationally) seeking to enhance both governance and firm performance in their own jurisdiction

A Transfer Operator Methodology for Optimal Sensor Placement Accounting for Uncertainty

Sensors in buildings are used for a wide variety of applications such as monitoring air quality, contaminants, indoor temperature, and relative humidity. These are used for accessing and ensuring indoor air quality, and also for ensuring safety in the event of chemical and biological attacks. It follows that optimal placement of sensors become important to accurately monitor contaminant levels in the indoor environment. However, contaminant transport inside the indoor environment is governed by the indoor flow conditions which are affected by various uncertainties associated with the building systems including occupancy and boundary fluxes. Therefore, it is important to account for all associated uncertainties while designing the sensor layout. The transfer operator based framework provides an effective way to identify optimal placement of sensors. Previous work has been limited to sensor placements under deterministic scenarios. In this work we extend the transfer operator based approach for optimal sensor placement while accounting for building systems uncertainties. The methodology provides a probabilistic metric to gauge coverage under uncertain conditions. We illustrate the capabilities of the framework with examples exhibiting boundary flux uncertainty

Power relations, ethnicity and privatisation: A tale of a telecommunications company

The purpose of this paper is to demonstrate the confluence of political and economic interests of the Fijian elite in transforming state assets into private property and financial gain. Drawing on a Habermasian theoretical framework applied to a privatised state monopoly (Telecom Fiji), it is demonstrated how an implementation of privatisation concealed social and political interests. Thus privatisation provided a convenient rhetoric and tool of implementation for social and political gain by a ruling elite. For those inside the Telecom company, the ethos of public service could not withstand the messengers of capitalism with their rhetoric of the need for greater efficiency, effectiveness and consumer awareness. However, as for many other privatisation programmes around the world, the results are not reflected in the improved organisational performance or wellbeing of the ordinary citizen when state monopolies are privatised

Developments in non-mandatory disclosures in annual reports of companies: A case study

The paper investigates the extent of non-mandatory disclosure of information (NMD) in the annual reports of the 17 companies listed on the South Pacific Stock Exchange (SPSE) in Fiji, a developing country, and whether NMD by these companies has changed over time providing additional and useful information to stakeholders. The empirical data was gathered from the years 2008 to 2010 to provide a clear picture of the change in the level and extent of NMD, and its influences over the periods 2008 to 2010. It can be seen from the Fiji perspective that the mandatory requirements tend to have a financial focus. However, it would be expected that the level of company disclosures would have changed over time, with not only global market forces but through differing societal values which have increased the frequency and demand of non-mandatory reporting by companies. All companies showed some degree of NMD, and on average this demonstrates an increasing trend. The stakeholders are receiving more information about a company’s activities. The companies were analysed in light of recent developments in corporate governance by the Capital Markets Development Authority (CMDA) implementing their 10 corporate governance principles. This became a major driver of the increase in NMD levels of the disclosures in the annual reports of the listed companies. However, a large variation still exists between the level and extent of the NMD and the different listed companies. The minimum disclosure level found over the three years was 9.09 percent, which has increased to a minimum of 13.66 percent in 2010, and the maximum disclosure level over the three years was 81.82 percent. The findings for the extent of NMD was also similar where the minimum words used in NMDs was 114, increasing to 854 in 2010, and the maximum disclosure extent over the three years was 21,414 words. However, it was found that the measurement of counting words tended to fluctuate over different periods where significant events took place that affected the company. Therefore, it was established that disclosure is impacted by what happens in the reporting period, and can explain why one period may have greater disclosure than another. The paper aims to extend earlier work of Sharma & Davey (2013) on the extent of NMD in Fijian context. While Sharma & Davey (2013) considered voluntary disclosure from 1999-2005, our study reviews NMD over 2008-2010. The study has shown that corporate governance code issued in 2009 by Capital Market Development Authority has influenced the level of NMD

Superspace formulation and correlation functions of 3d superconformal field theories

We study $3d$ SCFTs in the superspace formalism and discuss superfields and on-shell higher spin current multiplets in free $3d$ SCFTs with $\mathcal{N}= 1,2,3,4$ and $6$ superconformal symmetry. For $\mathcal{N}=1$ 3d SCFTs we determine the superconformal invariants in superspace needed for constructing 3-point functions of higher spin operators, find the non-linear relations between the invariants and consequently write down all the independent invariant structures, both parity even and odd, for various 3-point functions of higher spin operators.Comment: typos corrected, references added. Accepted for publication in JHE