Truth in Financial Statements: An Introduction

When used in relation to a periodical, the word symposium refers to a collection of opinions on a subject. The word derives from the Greek sympinein, to drink together, and originally was applied to a drinking party in which conversation and intellectual entertainment played a vital part. To our party we have invited a distinguished group of authors representing in some cases widely differing points of view. They have contributed articles dealing with various aspects of these problems of financial reporting and auditing. We leave to you, the reader, and to those engaged in the continuing debate the final judgment on what constitutes truth in financial statements, what is the best method of achieving the desideratum and what is the role of the independent accountant in that process... This Introduction is not intended as a review of the articles in the Symposium. Accordingly, no verbal applause will be offered individually for each author. The Symposium does, however, represent an unusually fine collection of articles on a subject of enormous importance in the corporate securities field today. Not only is the quality of the contribution high, but the authors represent a distinguished cross-section of experts

Sparse Array Design for Wideband Beamforming with Reduced Complexity in Tapped Delay-lines

Sparse wideband array design for sensor location optimization is highly nonlinear and it is traditionally solved by genetic algorithms (GAs) or other similar optimization methods. This is an extremely time-consuming process and an optimum solution is not always guaranteed. In this work, this problem is studied from the viewpoint of compressive sensing (CS). Although there have been CS-based methods proposed for the design of sparse narrowband arrays, its extension to the wideband case is not straightforward, as there are multiple coefficients associated with each sensor and they have to be simultaneously minimized in order to discard the corresponding sensor locations. At first, sensor location optimization for both general wideband beamforming and frequency invariant beamforming is considered. Then, sparsity in the tapped delay-line (TDL) coefficients associated with each sensor is considered in order to reduce the implementation complexity of each TDL. Finally, design of robust wideband arrays against norm-bounded steering vector errors is addressed. Design examples are provided to verify the effectiveness of the proposed methods, with comparisons drawn with a GA-based design method

Location and Orientation Optimisation for Spatially Stretched Tripole Arrays Based on Compressive Sensing

The design of sparse spatially stretched tripole arrays is an important but also challenging task and this paper proposes for the very first time efficient solutions to this problem. Unlike for the design of traditional sparse antenna arrays, the developed approaches optimise both the dipole locations and orientations. The novelty of the paper consists in formulating these optimisation problems into a form that can be solved by the proposed compressive sensing and Bayesian compressive sensing based approaches. The performance of the developed approaches is validated and it is shown that accurate approximation of a reference response can be achieved with a 67% reduction in the number of dipoles required as compared to an equivalent uniform spatially stretched tripole array, leading to a significant reduction in the cost associated with the resulting arrays

Morelli v. Cedel: Ignoring Jurisdictional Limits and Outflanking Congress Towards the Internationalization of the ADEA

Throughout the Twentieth Century, legislatures at all levels of American government have sought admirably to protect workers from a host of economic and societal ills by enacting broad-based remedial legislation. At times, these same legislatures have abdicated responsibility to the executive bureaucracy for further regulatory development. Without ensuring the attendant transfer of political accountability commensurate with the authority of the regulatory state, the delicate balance of powers crafted by the founders becomes skewed. Armed with the combined might of legislative fiat and unfettered enforcement power, the heavy hand of an over-zealous executive bureaucracy extends itself beyond the bounds initially established by the legislature in what is known as “mission creep.” And, in the modern economy, the ramifications of mission creep are global.\u