Issue in contemporary auditing Essay Example | Topics and Well Written Essays - 3000 words

Issue in contemporary auditing - Essay Example Governance Reporting Reporting is a vital way of sharing financial information. Therefore, it will be our responsibility to report to you on whether the financial accounts have been arranged according to the accounting strategies as stated by you. Furthermore, we would report according to auditing process undertaken by us, on whether anything has emerged to our consideration for specifying that the revenue figure described in financial reports has not been appropriately extracted from book of records, or book of records do not record and clarify the transactions, with respect to the understanding of activity. Scope of Work Our auditing process will include those activities we consider essential to allow us to report on the aspects of financial reporting and will comprise evaluating information and descriptions provided to us for conducting such investigations about the managers as we believe essential. It is to clarify you that we are not liable for the maintenance of bookkeeping rec ords of the business, however we shall be pleased to advise on these aspects if required. The financial statements will have a declaration for your approval for having every relevant accounting record. As a consequence of our tasks, we can be capable of providing suggestions on improvements that can be made to the accounting records. Nevertheless, our work must not be dependent on the disclosure of misdeeds. However, if an examination is required particularly to detect misdeeds, it can be independently conducted on request (The Institute of Certified Public Accountants in Ireland, 2003). Applicable Legislation The engagement letter will be administered by and construed according to International Standards on Auditing (ISA) 540 and pertinent national standards and practices. ISA deals in duties of auditors with respect to fair value bookkeeping and associated financial disclosures. These standards necessitate that we plan and perform the audit in order to attain practical assurance r egarding if the prepared financial statements determined to be are free from misstatements or not. Restriction on Audit Liability Due to the characteristics of audit and other inherent restrictions, there is always inevitable risk of financial mistreatments to remain undiscovered (Financial Reporting Council, 2012). Agreement on Terms We will look forward towards complete collaboration with your employees and we believe that they will provide us whatever we require to accomplish our tasks. The fees will be based on the time required for addressing the required tasks along with other additional expenses. Once these terms are agreed, the letter would be effective until it is changed. Please confirm us about your agreement with the provided terms by signing this letter and returning to us. Yours Sincerely, Loughran and Shrives Chartered Accountants Acknowledged on behalf of Land Securities Group Plc by Signature: Date: Ethical Issues Leaflet The leaflet deals in legal and ethical impli cations of audit. It provides the standards to which we are committed to maintain utmost professional and ethical standards in order to assist our clients about quality auditing. Integrity The first ethical issue is integrity. It states that we will undertake the auditing tasks and responsibilities with the utmost level of intelligence and integrity. Our work will be

How does the Christian communal meal arise from Jewish and Greco-Roman Assignment

How does the Christian communal meal arise from Jewish and Greco-Roman conceptions of sacrifice and what makes the Christian sacrificial meal different from its Jewish and Greco-Roman forerunners - Assignment Example The second one the members performed dances, made choirs, sang sacred songs and remained sober until dawn. Another example of Jewish communal meal is the gathering meal where the community rule in the Qumran script provides direction: it says that they will eat and pray in common. Additionally, the eating’s started by blessing the wine and bread while praying involved the discussion and study of law among others. This communal suppers took place daily (Alikin, 16). In Graeco-Roman world cult, associations and mystery cults were effective. They are considered as a subcategory of voluntary associations. The utmost mystery cults were the Mithras cult, sibylline cult at Rome, Eleusis cult and lastly the Serapis and Isis cult. All these cults has one similar thing: their supporters gathered at agreed times with a lavish meal. These common suppers are well indicated, for example, the cults of Serapis and Isis. Supporters of these cults gathered from time to time in temples or houses and sat on couches. This coaches were only set up for ceremonial drinking and eating occasions. In Christians, gatherings were dual. The first one comprised of a meal proper and after the meal a session with various activities like teaching, singing and preaching followed. These activities resembled what happened at feasts in the Graeco-Roman world. Precisely the gatherings of Christians was that some fell into a frenzy: they spoke streams of incoherent and inexplicable sounds. Additionally, other members produced understandable sounds in the form of preaching’s, revelations, teaching, hymns and lastly passing on of knowledge and wisdom. The above oral contributions were offered and bartered in the same assembly as the common meal but took place in the second fold once the meal had been finished. The Christian dual structure of gathering is also similar to the Jewish assembly. This so for because when the meal is over, a person who is

EU Economy Essay Example | Topics and Well Written Essays - 3250 words

EU Economy - Essay Example ..5 4.2 Pillar 2†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...5 5.0 Past Reforms†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5 5.1 CAP Expenditure and CAP Reform Path†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6 6.0 Various Perspectives on Proposed Reforms†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.6 6.1 Farmers View point†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...6 6.2 NGOs Perspective†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..7 6.3 Research Institutes and Experts’ Opinions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 7.0 Does the CAP Defy Trade Theory?........................................................9 8.0 Ricardo's Comparative Advantage Theory and the CAP†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 9.0 Heckscher and Ohlin Theory and the CAP†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦10 10.0 Ground for Choices †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦10 11.0 Guiding Principles for Reforms†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..11 11.1 Global Food Security†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..12 11.2 Environment Initiatives†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. ... Initially, during ‘60s, it was formulated to increase the agricultural production and achieve food security. Since then much has changed at the global level and the world has progressed to trading in a tariff-free regime under the auspices of World Trade Organization. It has been agreed that resources are scarce and must be harnessed efficiently to enhance economic wealth of the nations within EU. The existing CAP within EU with direct payments on per hectare basis does not make any sense. The agricultural subsidies cost huge proportion of the EU budget. Providing export subsidies to produce surplus to dump it in the international market at the cost of developing countries, especially poor African countries, defy the basic probity and economic sense. Sweeping reforms are needed that can take care of environmental issues, climate mitigation, reduce water pollution, support efficient farming and rural development, provide fair international competition and encourage innovation in agriculture increasing productivity levels. Introduction This policy paper is for the attention of the Agricultural Commissioner, EU and is designed to explore whether the CAP should be reformed, and if so then in what way it should be modified to address the current issues. The paper is structured around understanding existing CAP and its relevance in reference to various economic theories that economists have proposed in last few decades to enhance the global wealth. It will look into various perspectives on proposed reforms and the available choices to address environmental issues. The paper finally provides concrete recommendations on the future CAP. Historical Account The Common Agricultural Policy (CAP) had its modest beginning in 1962. Since

Industrial Biotechnology Essay Example | Topics and Well Written Essays - 2000 words

Industrial Biotechnology - Essay Example Transgenic plants, like Bt corn and herbicide resistant soybeans, were designed to improve agronomic performance, although these are also used in biopharming (pharmaceuticals from plants). Transgenic animals are currently used to express drugs in milk. Biotechnological approaches have been used to enhance the yield and diversity of the important compounds amino acids, vitamins, antibiotics and biofuels. Amino acids Amino acids are the building blocks of proteins. Humans and animals alike can synthesize amino acids, except for eight that have to be supplemented by the diet. Aside from their roles in nutrition, amino acids are also used as food flavour enhancers, for medical uses such as transfusion of proteinaceous food and ammonia detoxification, and in the manufacture of synthetic raw materials in the chemical industry (Okafor, 2007). Globally, glutamic acid, lysine and methionine are produced in the highest amounts, although all amino acids can be and are being synthesized. The fla vour enhancer monosodium glutamate is the number one product in terms of tonnage (Demain, 2007). Okafor (2007) reviewed the different methods used to manufacture amino acids. Hydrolysis of high protein products like hair, keratin and feathers is the oldest means of manufacturing amino acids. However, this procedure is highly dependent on the amount of raw material that is available. Amino acids are also chemically synthesized, but the end-products are a mixture of D and L forms which necessitate an additional expensive step to produce the biologically active L-form. Fermentation of carbon and nitrogen materials through the action of different bacterial species is the most economical and feasible to large-scale process. Enzymatic process converts specific substrates to amino acids through specific enzyme catalysis. The most important method for microbiological production of amino acids is through direct fermentation and this is where biotechnological approaches have been utilized the most. The discovery that microorganisms like bacteria, moulds and yeast express amino acids was the stimulus for advancement in this field. Corynebacterium, Brevibacterium, Microbacterium and Arthrobacter are the most common bacterial genera employed for direct fermentation. To induce expression of amino acids, media and culture conditions are modified. However, bacteria will produce the amino acids only to a certain extent because they have this innate control of production to prevent toxic effects. Thus, bacteria have been engineered that do not have the control mechanisms for inhibiting amino acid production. Auxotrophic mutants have increased production of L-glutamic acid (Nakamura, et al., 2007; Asakura, et al., 2007). Regulatory mutants for amino acid production have also been developed. These mutants possess an enzyme that is insensitive to feedback inhibition, and thus continues to overproduce a certain amino acid. For example the bacterium Brevibacterium flavum was enginee red to be insensitive to increased lysine concentration which has an inhibitory effect on aspartate kinase activity (Fernandez-Gonzalez, et al., 1996). Aspartate kinase is the only system in the lysine biosynthesis pathway that is sensitive to increased lysine levels. Recombinant DNA technology has greatly enhanced the introduction of genes into current

Should Japanese Yen be appreciated or depreciated against U.S. Dollar Research Paper

Should Japanese Yen be appreciated or depreciated against U.S. Dollar - Research Paper Example Over the years owing to crisis US has adopted unconvincing monetary policies as a measure for bailout and recovering from the miserable economic situation. This has made dollars almost worthless. Under such circumstances Japan has also adopted the mechanism of quantitative easing leading to appreciation of Japanese Yen. But it has not helped the Japanese economy much. Credit growth has been on the slower side (Zarathustra). Taking this as backdrop the paper intends to trace out the effective exchange rate policy for Japanese economy, whether it should be appreciation or depreciation, and citing various reasons and arguments for it. Japanese Yen is such a powerful currency that it has appreciated even under conditions of quantitative. This phenomenon has continued in Japanese economy for 10 years. In contrast there has been depreciation of Pound Sterling by almost 50 percent of Yen. Depreciation list includes many other important currencies like Euro. Japan has also maintained a low interest rate of 1.092% even in the era of debt crisis. But the ongoing recession has caused economic growth in Japan on the slower side. This has deleveraged private enterprises. This requires Japan to reconsider and frame an effective exchange rate that can lead to economic growth (Zarathustra; Japan Intervenes to Tame Soaring Yen Ahead of G20). New York has suffered a fall in recent times which had raised questions on status of US recovery. But ultimately it has been to recover to 88 yen as per the current Tokyo deals. Tokyo has brought back dollars recently and this had helped United States in overcoming recent downturns (Dollar recovers to 88 yen zone in Tokyo after sharp falls in N.Y. +). Currently Japanese Yen is going at 0.0128086 USD. Data from the months in 2011 gives the lowest value as 0.0122797 USD which was for the month of July and the highest value of 0.0131979 USD was traced for the month of October. Average has remained at 0.0129061

The Ethics of Care Essay Example | Topics and Well Written Essays - 1000 words

The Ethics of Care - Essay Example From this research, it is clear that the care ethics regards to the principles that people usually have and follow the way of dealing with every relationship in day to day life. According to â€Å"The ethics of care: Personal, Political, and Global†, written by Virginia Held, the care ethics has not limited to this but now it can be explained involving a vast area as care ethics can be seen in case of medical practice, political life, war, international relationship, organization of a society and law. These things are involved in such a manner that they are now a part of it. According to Sara Ruddick, the pioneer of care ethics, in her article â€Å"Maternal thinking† which explained the experience of mothering and the care she gives to the baby, the care for the relationship around her and also provides a unique approach to the ethics. She also targets on feminist politics which was not of much importance those days. Since there are many forms of ethics like the virtue ethics, which decides about a person by looking at their behavior and to decide be either good or bad to them according to that person. The care ethics can be considered as a form of virtue ethics in some instances but it does not completely rely on principles of virtue ethics. To promote the interest of everyone towards oneself as mentioned in â€Å"what would satisfactory moral theory be like†, which is the principle of Rachel’s utilitarianism will sometimes collide with the aspects of the care ethics. Though it consists of few principles of them, they are separate entity altogether. Features of care ethics: According to Nel Nodding, caring for those who are not related to us but need some attention is the main principle of care ethics. This can be evaluated though an example. When a child fell while playing, the care we show to him when he is our own child should never be different from the one we show to others child. This makes sense as the care might vary from o ne person to another. She also suggests caring for those who are in need for it and stress one to show some responsibility to respond for such people. This might include the aged people who are facing incurable diseases or illness of later life. These people will have the craving for care and giving care to them is worth. The care ethics has good value for emotions according to Virginia Held. Not all the emotions are entertained but some of them are handled with great care. According to this theory, the one who develops this value for emotion will also train themselves to help the one in need, who or else fail to make this happen. This is very important to make a relationship successful one. Importance The care ethics completely rely on the fact to care for everyone. This creates a limitation to act according to the behavior of the other person but it does not stop one from caring. Most of the care ethics refers to a relationship and many authors support this statement. According to Annette Baier, the care ethics depends on many character traits which include sympathy, compassion and gentleness. Sometimes agreeability also plays a major role in balancing a relationship. This not only helps one to be close to another but creates a basic relationship with everyone in turn brings harmony among individuals. Evaluation: Most of the time, the care ethics create controversies. There are many incidents where the ethics are both for and against the topic. Creating an environment where one should care for other is right but sometimes it has to be according to the act and behavior of the other person. Showing a lot of care for those who worth it is of no use. Many times we come across such situation where people don’t bother is someone is hurt or ill but in turn they seek for attention when they are not well. Helping such people might be good but not always. Expecting a bit of the same when one is not well is required is what Carol Gilligan says. Though these aspe cts like valuing emotions are

Putting Members First Essay Example for Free

Putting Members First Essay At Nationwide we want to work with people who share our values. In 200 300 words what do Nationwide’s values mean to you? And how do you exhibit these when you work with others? Nationwide’s values are clear and concise, arranged in a 5 letter acronym, PRIDE. Each letter holds impact, and the values are very clear to what Nationwide believes in. Firstly, they believe in putting members first. This reflects that it is the customers who take priority. I believe that this should be the forefront of any organisation in that there should be a good quality service in place solely based on satisfying the customer. I would regard the customer in every decision I make/input in teams. Rewarding memberships is also important to Nationwide’s culture. There has to be an incentive in place to make members feel they are seeking benefits by choosing Nationwide. I would ensure that this is done by being hardworking, and helping others achieve their targets, so the members will receive their reward. Members of Nationwide also have to have trust in the work that they do. I believe in working with integrity and exert professionalism so that the members know that their information is safe, and that they feel they are priority so they can trust that they are receiving the best reward. This links into the next value at Nationwide of doing the right thing. I understand that it is important to own up to mistakes and try to amend these rather than trying to cover them up. Pride in the company should always be ahead of my own pride. Excelling at service is what gives Nationwide its prestigious place as the largest building society in the world. I would ensure that I keep up to Nationwide’s high standards.