Post-Implementation Challenges of the Model Audit Rule Research Paper

Post-Implementation Challenges of the Model Audit Rule - Research Paper Example Audit theory and practice also covers other areas that include the basis of audit opinion, legal liability of the auditors, and examination of frauds, audit evidence, and audit programs. For an audit to be successful, the above factors have to be analyzed critically so that the auditors achieve clarity (Reed, Shedd, Morehead, and Pagnattaro, 2009, p. 39). The auditors have to ensure that they carry out the work professionally in accordance with the laid down policies and procedures. They have to ensure that they follow the guidelines which include the auditing standards that guide them during the process of the audit. The client entrusts the auditors with the responsibility of carrying out a substantive test meant to evaluate the subject matter to provide an assurance to the intended user concerning the subject matter. The auditor faces many challenges before the audit process, during the auditing process, or after the process (Moeller, 2004, p. 39). Auditing relies on sampling and e stimation of values which makes the credibility of the process doubtful. Lack of sufficient information is one of the challenges that auditors face during the process hence making the process difficult to accomplish within the given time. International Auditing Standards requires that auditors obtain a lucid understanding of the company being audited and its environment. This understanding of the internal control system will help them identify misstatements that are material in the statements that may arise due to fraud or error. To avoid post audit problems that may arise, the auditors have to analyze the process that the company adopts critically to identify business risks. Post audit challenges are the challenges that auditors face after completion of the audit process. These challenges make the process an excellent training for the executives. The Model Audit Rule is a collection of accounting standards that govern the audit process. It ensures that auditors ensure financial sta bility and proper governance to the various companies who consult them for their services. An internal control financial report is a basic requirement in the Module Audit Rule to ensure that professionals formulate controls. It also ensures that controls are operating as intended (Vasarhelyi, 2005, p. 77). The main role of this rule is to enhance oversight of financial stability of various insurance companies. It has the responsibility of setting the guidelines that govern auditor’s independence and create rules for the audit committee. Influence of legal, regulatory, and social environments on audit theory and practice Legal, regulatory, and social environments have absolute impact on audit theory and practice. The legal environment entails criminal liabilities for auditors, auditor’s liability to clients and third parties, and their responsibility to detect frauds and errors. This is a tremendously vital part during the audit process since it governs the conduct of t he auditor during performance of the audit. The legal environment is particularly vital in reduction of post implementation challenges that will arise after the Model Audit Rule is introduces (Cheeseman, 1997, p. 79). A detailed analysis of the legal environment concerning the Model Audit Rule is necessary to ensure that companies and auditors understand the requirements of the rule. This will cut the cost of the companies and reduce

You can choose Essay Example | Topics and Well Written Essays - 2000 words

You can choose - Essay Example Equally important, there are several moral codes and ethical conduct that are taught by the religious traditions. The link between law and religion is manifested in the Islamic sharia, Christian canon law, Hindu law, and Jewish among others. Therefore, drawing on a variety of sources the paper will discuss the links between law and religion. Both in substance and origin, the link between law and religion have always been assumed to exist, even though they are two different concepts. The connecting component between these two is the human being. Both law and religion contribute to the social order. On one hand, law is considered as a set of rules of conduct that is aimed at guiding human behavior in order to differentiate good from bad (Howard 79). Law is used to advance the general good by developing legal rights of which it is mandatory to abide by. On the other hand, Edge (29) notes that religion has numerous definitions and anti-definitions of which none have attained dominance. In a view shared by Matadi, religion is a normative system that affects people’s lives and also determines their conduct. Also, religion established the relationship between a person and the Supreme Being. For Muslims, the source of religion lies in the Quran, for Christians it lies in the Bible, and for the native religions, it lies i n the customs, rituals, and object passed on from the ancestor’s or gods. Hagedorn, Kratz, and Kratz (365) posit that there exists a complex relationship between law as a set of rules that govern the social and political existence of mankind, and religion, which is a body of spiritual doctrines and a system of rituals and norms of behavior.† Law is accepted as a natural product of the informal interaction rules in the society. Therefore, religion can also be accepted as a crucial source of law considering that social rules and norms are usually influenced by the religious values of societies. Correspondingly, religion also provides a set of

Summary and Impact Essay Example | Topics and Well Written Essays - 250 words - 3

Summary and Impact - Essay Example Scientists demonstrated that start time of treatment affects the response of B cells to the virus. Moreover, they have shown that the response of the same B cells to the HIV differs from that to other pathogens such as tetanus or influenza. In summary, these studies provide evidence of the fact that earlier treatment of HIV is better for the health of infected people. HIV infection can affect anyone of us. The biggest problem for HIV-infected people is the fact that this infection is extremely difficult to treat and complete cure is not possible at all. Therefore, knowledge of basic features of HIV infection greatly interested me. Especially useful information is the fact that early treatment improves resistance and is more useful for our body. This fact raises questions about the periodic inspection your body for HIV infection, because in case of early identification, quality of treatment will be much higher. Thus, the annual check for infection will increase the quality of further treatment because of early detection of infection. So we should not give problems the chance to become a significant and solve it at the

TSCA definitions Essay Example | Topics and Well Written Essays - 1000 words

TSCA definitions - Essay Example he various ways in which one can be exposed to PCBs include breathing air that contain PCBs, eating food that contain PCBs, or touching anything that contains them. PCBs usually remain in the environment for long periods of time, and for this reason, therefore, people can easily be exposed to them when they come in contact with things that contain them. Due to their long stay in the environment, one can easily be exposed to them by coming into contact with the equipment or any other thing that contain them like the, electrical transformers, capacitors, fluorescent lighting fixtures, and appliances. It is recommended by NIOSH that workers should not breathe air that contains 42 or 54% chlorine, i.e. PCB levels higher than 1 microgram per cubic meter of air (à ¯Ã‚ ¿Ã‚ ½g/m3) for a 10-hour workday, 40-hour workweek. EPA demands that companies that either transport, store, or dispose of PCBs adhere to the rules and regulations of the federal hazardous waste management program. Also, EPA limits the amount of PCBs put into public waste water treatment plants. Hexavalent chromium Cr(VI) is a valence state (+6) of the element chromium; there are many more valences of the element chromium. Cr(VI) is produced through an industrial process. One of the bad effects of Cr(VI) to human beings is that Cr(VI) is known to cause cancer. Also, Cr(VI) targets the respiratory system, liver, kidneys, skin and eyes. From the OSAH website we learn that approximately 558,000 workers are potentially exposed to Cr(VI) in the United States. Employees can be exposed to hex chrome in different was including breathing in of dusts, mists or fume, ingestion, or through dermal or eye contact . Wellbeing impacts related with presentation to hex chrome can include disturbance or harm to the skin and eyes.   Direct skin contact to Hex Chrome can bring about undesirable susceptible response known as contact dermatitis. Once an anaphylaxis grows, even concise skin contact can bring about manifestations.

A Public-Private Education Controversy Essay Example | Topics and Well Written Essays - 1250 words

A Public-Private Education Controversy - Essay Example t the slight private school advantage discovered by Coleman vanished when differences in pupils’ course preference and family context were considered (Cookson, 1992). John Chubb and Terry Moe are the current sources of ‘impartial evidence’ of the superiority of private school. Numerous policymakers and opinion-editorial writers have reiterated their argument as dogma, and large numbers of people have been convinced of public assistance for private schools on their influence (Hakim et al., 1994). As analytical writers and peer analysts have emphasized, the study of Chubb and Moe of private and public high schools falls short in locating a private school lead when pupils’ course preferences and background attributes are examined. The failure of the investigation of Chubb and Moe to provide them substantiation for their arguments is not that unexpected. The proof they draw upon originates entirely from the ‘High School and Beyond Study’, the infor mation that also botched Coleman’s study (Hakim et al., 1994, 66). Furthermore, in spite of the many pages they used on justifying why their treatment of this information is superior over the methodologies of other researchers, Chubb and Moe disregard almost all that has been taught about how to ethically deal with significantly erroneous, otherwise insignificant, information (Cookson, 1992). Yet, they chose to work unconventionally. Some of their questionable methods are (Hakim et al., 1994, 66): (1) developing a school organization instrument consisting of a large number of factors, making it practically unattainable to isolate the impacts of any one factor; (2) merging private and exclusive private schools alongside Catholic ones in a manner that involuntarily awarded a private school lead in their study; (3) and... School choice could be an exceptional encouragement for schools to strive more to draw the attention of customers but it is no replacement for planning educational motivations where in there are incentives for enhancing academic performance and sanctions for failure. The notion of an accountability mechanism for education institutions that includes incentives and sanctions is contentious and unconventional. The notion of an accountability mechanism founded on private school choice is contentious and unconventional too, and the NAEP and other findings reveal that it would fail. It is quite evident that even though the people refuse to accept private school choice, it will not cope with the existing situation in public education. There are two possibilities: one, there will be a novel form of accountability process in education that the educator and the people can trust, or, second, some unwise accountability program that will only harm education will be enforced.

The relationship between unequal democracy and uneasy alliances Essay

The relationship between unequal democracy and uneasy alliances - Essay Example Scholars argue that politicians respond to the needs of all voters because of their desire to win elections. Paul contradicts this view by expounding on the economic gap that politicians create among Americans based on racial and political affiliation. He further explains that American politicians spend a great deal of resources and time on the majority who are white voters, at the expense of the minority black voters. The theory intimates that the two-party system in United States is responsible for the current state of affairs. Frymer argues that the establishment of the current party system distances the American minorities’ concerns from political agendas (Frymer 26). The system continues to limit opportunities for black Americans politically. Several American presidents facilitate this political isolation by distancing themselves from the needs of the African Americans. In addition, the Republican Party, which dominates most of the white populace, concentrates on the need s of the white voters. Frymer compares the black voters’ position in the American politics with that of minority social groups such as lesbians, gays and Christian right. According to Frymer, uneasy alliances are powerful challenges on how Americans view the relationship between democracy, black voters and political parties. The theory compares the impact of various political parties on the livelihoods of the black voters. It reveals that the Democratic Party establishes a close relationship with the African-American voters while the Republican Party relates well with the white voters.

Christianity and Islam Essay Example | Topics and Well Written Essays - 500 words

Christianity and Islam - Essay Example One should strongly uphold the values and teachings that Allah has taught them for these will serve as their guide to fulfilling a spiritually-rich life together with Allah. Since monotheism is part of the Islamic faith, Muslims is in continuous contention with the Trinitarian God that Christian faith believes. Islam would not allow anyone or any other being for that matter to be associated with Allah for they trust that Allah is incomparable and solitary. Angels are considered as the messengers of God. The existence of angels is generally acceptable as true among Muslims. Islam agrees that God has numerous angels who are good in nature. Satan is an exception to this generalization for he is the only angel who dared to refuse the fact that God has the Ultimate Power that Satan disobeyed His commands. An analogy is stated in the article to distinguish men from the angels. Angels are made of light while human beings are made out of clay. Jinns are described in this section as well. They are created by fire which is correlated with the power of speech or gift of tongues. Prophets and scriptures was the third doctrine on the article. Mohammad is named as the last descendant of the prophets who were assigned to introduce and disseminate the scriptures to the people.