Accounting Headline 3.7 concerns about regulatory captureChief scientists dual roles damaging to office, committee findsORIETTA GUERRERAThe position of the Federal Governments chief scientist should be full-time, a Senate committee has recommended after it found there was a conflict between Robin Batterhams duties in the role and his role as chief technologist for mining giant Rio Tinto.The committee, which has been investigating the potential for a conflict between Dr Batterhams two part-time positions, said the publics faith in the office had been eroded because of his dual roles. Document Preview: Accounting Headline 3.7 concerns about regulatory captureChief scientists dual roles damaging to office, committee findsORIETTA GUERRERAThe position of the Federal Governments chief scientist should be full-time, a Senate committee has recommended after it found there was a conflict between Robin Batterhams duties in the role and his role as chief technologist for mining giant Rio Tinto.The committee, which has been investigating the potential for a conflict between Dr Batterhams two part-time positions, said the publics faith in the office had been eroded because of his dual roles. However, it concluded there was no evidence that Dr Batterham had behaved inappropriately or improperly.The committee initiated the inquiry after the Government did not allow Dr Batterham to appear before a Senate Estimates Committee to answer conflict of interest allegations.Greens leader Bob Brown has raised concerns about Dr Batterhams advice on the largely untested process of burying greenhouse gas emissions, which is favoured by the coal mining industry. Yesterday Senator Brown called for Dr Batterhams resignation which the report did not recommend.The majority report, supported by Labor, the Democrats and Greens, made four recommendations, including that the position be made full-time and that it be subject to the same accountability measures as other senior public servant offices. The committee said that potential and apparent conflicts of interests which arose from Dr Batterhams dual roles were as damaging to the Office of Chief Scientist as any real conflict of interest. However, in a dissenting report, Government senators rejected that there was a conflict.Accounting Headline 7.7 implications of the release of new accounting standardsFosters: less goodwill, higher earningsANTHONY HUGHESThe challenges facing investors seeking a true picture of a companys earnings during the impending profit reporting season were underlined again on Friday when Fosters flagged Attachments: acctg-theory-.docx
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