Melina Manochin

The UK's Prudential borrowing framework:a retrograde step in managing risk?

The contemporary understanding of public sector risk management entails a broadening of the traditional bureaucratic approach to risk beyond the boundaries of purely financial risks. However, evidence suggests that in reality public sector risk management does not always match the rhetoric. This paper focuses on the apparent inadequacy of any risk framework in the current Prudential Borrowing Framework (PBF) guidance in relation to that which was developed under Public Private Partnerships and Private Finance Initiative (PFI). Our analysis shows that the PBF and its associated indicators for local authorities adopt a narrow financial approach and fail to account for the full range of potential risks associated with capital projects. The PBF does not provide a framework for local authorities to consider long‐term risk and fails to encourage understanding of the generic nature of risk. The introduction of the PBF appears to represent a retrograde step from PPP/PFI as regards risk and risk management.

An exploratory study of the utilisation of the UK's Prudential Borrowing Framework

This article considers the utilisation of the UK’s Prudential Borrowing Framework (PBF) and the associated Prudential Code for local government capital finance. It finds that the increased flexibility and local freedom are at the cost of less financial certainty in terms of the risks borne by local authorities and local tax payers. The PBF seems to encourage a less formal approach to risk, being considered inevitable and handled if and when adverse risk outcomes occur. Consequently capital projects may lack affordability, sustainability and prudence. The Prudential Indicators required by the Code are not easily understood by non-specialists and their calculation cannot be used to replace sound judgement or to identify the best financing option.

The Boundaries of Reporting Sustainable Development in Social Housing

The Registered Social Landlord (an independent housing association in the UK) examined here was widely recognized as providing an example of good governance. The organization was using extensive internal reporting, both corporate and quasi-governmental in language, to try to accurately capture different aspects of performance. This article reveals that reporting sustainable development has boundaries to be overcome, particularly in measuring performance of environmental and community activities.

Enhancing the transparency of accounting research: the case of narrative analysis

Purpose - – This paper aims to clarify what ‘narrative analysis’ may entail when it is assumed that interview accounts can be treated as (collections of) narratives. What is considered a narrative and how these may be analyzed is open to debate. After suggesting an approach of how to deal with narrative analysis, the authors critically discuss how far it might offer insights into a particular accounting case. Design/methodology/approach - – After having explained what the authors’ view on narrative analysis is, and how this is linked with the extant literature, the authors examine the socialisation processes of two early career accountants that have been articulated in an interview context. Findings - – The approach to narrative analysis set out in this paper could help to clarify how and why certain interpretations from an interview are generated by a researcher. The authors emphasise the importance of discussing a researcher’s process of discovery when an interpretive approach to research is adopted. Research limitations/implications - – The application of any method, and what a researcher thinks can be distilled from this, depends on the research outlook he/she has. As the authors adopt an interpretive approach to research in this paper, they acknowledge that the interpretations of narratives, and what they deem to be narratives, will be infused by their own perceptions. Practical implications - – The authors believe that the writing-up of qualitative research from an interpretive stance would benefit from an explicit acceptance of the equivocal nature of interpretation. The way in which they present and discuss the narrative analyses in this paper intends to bring this to the fore. Originality/value - – Whenever someone says he/she engages in narrative analysis, both the “narrative” and “analysis” part of “narrative analysis” need to be explicated. The authors believe that this only happens every so often. This paper puts forward an approach of how more clarity on this might be achieved by combining two frameworks in the extant literature, so that the transparency of the research is enhanced.

Audit Committees in Scottish Local Authorities 1998—2005:

During the last 15 years corporate governance has become increasingly prominent in the public sector. The Audit Commissions 1993 report on probity in local government recommended the establishment of audit committees. However, progress on this was slow, as demonstrated by a survey of Scottish local authorities by the authors in 1998. Recent major changes in government in Scotland at both a local and national level have prompted councils to improve the accountability, openness and integrity of their operations. One major aspect of this exercise was the formation of scrutiny committees to provide objective scrutiny of the process and audit committees were the most common vehicle for this. This article explores recent developments in Scottish local government and their impact on audit committees. The article also reports the results of a 2005 survey of Scottish local authorities and compares these with the 1998 survey. This indicates a significant growth in the number of audit committees in Scottish councils and although the level of their perceived effectiveness is patchy, they are a more important feature of local government than they were in 1998.

Engaging junior doctors:evidence from "open spaces" in England

PURPOSE This paper aims to report on a project undertaken in order to identify, develop and reflect on the leadership and managerial skills of clinicians. The main aim of the project was to design, plan, organise and deliver a learning session for Foundation Year 2 Doctors within the premises of one of the largest NHS Foundation Trusts in the UK. The key theme of the learning session was the introduction of the notion of competent medical leadership in the NHS. A leadership role has been traditionally seen as the task of managers and as such clinicians have seemed reluctant to engage. DESIGN/METHODOLOGY/APPROACH A two hour workshop was designed and delivered with the use of Open Space Technology. Foundation Year 2 doctors were invited to consider the importance of leadership in their everyday roles. An awareness of the Medical Leadership Competency Framework had been a key aspect of the learning session. FINDINGS The projects outcome can be identified as being the encouragement of Foundation Year 2 doctors in considering their roles as leaders in their everyday tasks. ORIGINALITY/VALUE Design, planning, organisation and delivery of a two hour Open Space learning session with the Foundation Year 2 doctors portrays the sessions learning potentials and the potential for such sessions to provide a platform for difficult discussions in the NHS. This is particularly beneficial where a cultural shift is needed in order to see a way forward, notably when facing significant change.