Bankers fail to tell, or get, the message

Article Abstract:

The Australian Bankers Association (ABA) mostly ignored the recommendations of a 1997 Andrew Robb report on its effectiveness and is now being criticized for its ineffectiveness in promoting the image of the banking industry to the government and community. ABA has also failed to address the treatment of banks under the goods and services tax. ABA's $1.2 million contract with radio broadcaster John Laws to promote the image of banking has come under government investigation. However, ABA's role has become more difficult with increased banking competition and regulatory laws.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Banking industry, Reports, Contracts, Public relations, Banking law, Australian Bankers Association, Robb, Andrew, Laws, John (broadcaster)

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Lies, damn lies and annual reports: some big companies are being taken to task over loose accounting in their financial reports

Article Abstract:

The Australian Securities and Investments Commission (ASIC) launched a campaign to encourage companies to observe accounting standards and communicate proper financial information to shareholders. During 1998, ASIC examined more than 180 company financial reports. Certain companies did not amortize intangible assets and others classified losses as abnormal items on their profit and loss statements. ASIC publicly requested that three companies amend their financial statements or make additional disclosures.

Television Broadcasting, Advertising agencies, Pharmaceutical Preparation Manufacturing, Television broadcasting stations, Pharmaceutical preparations, TV Networks, Mining & Extractive Industries, Mining, Standards, Statistical Data Included, Management, Pharmaceutical industry, Drugs, Television broadcasting industry, Mining industry, Accounting and auditing, Television networks, Seven Network Ltd., PricewaterhouseCoopers L.L.P. (New York, New York), Normandy Mining Ltd., Australia. Securities and Investments Commission, NDY, Novogen Ltd., NRT, McCahey, Jan, Lonergan, Wayne, Media Entertainment Group

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Tower goes back for a future

Article Abstract:

New Zealand based insurance giant Tower has announced its plans to wind up its wealth management activities in Australia carried out under Bridges Financial Services and Tower Trust. The mismanagement of the units is discussed. Jim Minto, Tower AustraliaEs chief executive is of the opinion that the company has a better future as a specialist risk insurer.

Strategy & planning, Plant shutdown, INSURANCE CARRIERS, New Zealand, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Planning, Insurance industry, Company business planning, Subsidiaries, divisions and units, Facility closures, Tower Corp.

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