Audit Risk in the Brave New World - 3187 Words

Audit amp; taxation | Audit Risk in the Brave New World | Audit Risk Model | | | 6/27/2010 | Submitted To: MR. Asim Khan Submitted By Bilal Khalid INTRODUCTION The audit risk model has provided a conceptual framework for auditing practice for more than 40 years. Despite practical difficulties in implementation and criticisms of its theoretical foundation, the model has been fairly effective in helping auditors analyze risks and use that analysis to determine the nature, timing, and extent of audit procedures (especially substantive procedures) in audits of financial statements. The audit risk model provides a conceptual framework for the risk assessment standards. In recent years, auditors have tried to apply the†¦show more content†¦These are: * ISA 315, Understanding the Entity and its Environment and Assessing the Risks of Material Misstatements * ISA 330, The Auditor s Procedures in Response to Assessed Risks * ISA 500 (Revised), Audit Evidence. The requirements in these newly-issued risk standards represent significant changes to the standards governing audits of financial statements. They enable the auditors to focus more clearly on areas where there is a greater risk of misstatement of the financial statements. The belief is that these risk standards will increase audit quality. This is as a result of better risk assessments through a more detailed understanding of the entity and its environment, including internal control, and improved design and performance of audit procedures to respond to assessed risks of material misstatements. The improved linkage of audit procedures and assessed risks is expected to result in a greater concentration of audit effort on areas where there is a greater risk of material misstatements. The scope of each of the risk standards is reflected in the introduction to the standards, and can be summarized as follows. ISA 315 This standard provides guidance on performing audit procedures to obtain a broader understanding of the entity and its environment, including its internal control, and on assessing risks of material misstatement. The IAASB recognises that there may be specific considerations relevant to the audit of smallShow MoreRelatedManaging Innovation2575 Words   |  11 Pagesother similar terminologies: 3 Benefits and limitations of Innovation: 3 Innovation Audit: 4 Benefits of being more innovative: 5 Managerial Style for Innovation: 6 Climate of Innovative Organization: 8 REFERENCES 9 Introduction: Innovation is a common phenomenon among the organizations around the world in the current business scenarios. Finding a new solution to an existing product, process, services, technologies or ideas and meet the newerRead MoreAccountants Liability to Third Parties7127 Words   |  29 Pageshold an accountant liable for the accountants negligence. 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What Is Chemical Engineering

Chemical engineering sits at the nexus between science and technology. Its one of the major engineering disciplines. Take a look at what exactly chemical engineering is, what chemical engineers do, and how to become a chemical engineer. What Is Chemical Engineering? Chemical engineering is applied chemistry. It is the branch of engineering concerned with the design, construction, and operation of machines and plants that perform chemical reactions to solve practical problems or make useful products. It starts in the lab, much like science, yet progresses through the design and implementation of a full-scale process, its maintenance, and methods of testing and improving it. What Is a Chemical Engineer? Like all engineers, chemical engineers use math, physics, and economics to solve technical problems. The difference between chemical engineers and other types of engineers is that they apply knowledge of chemistry in addition to other engineering disciplines. Chemical engineers sometimes are called universal engineers because their scientific and technical mastery is so broad. You could consider a chemical engineer to be a type of engineer who knows a lot of science. Another perspective is that a chemical engineer is a practical chemist. What Do Chemical Engineers Do? Some chemical engineers make designs and invent new processes. Some construct instruments and facilities. Some plan and operate facilities. Chemical engineers also make chemicals. Chemical engineers have helped develop atomic science, polymers, paper, dyes, drugs, plastics, fertilizers, foods, petrochemicals, pretty much everything you can imagine. They devise ways to make products from raw materials and ways to convert one material into another useful form. Chemical engineers can make processes more cost-effective or more environmentally friendly or more efficient. Chemical engineers also teach, work with the law, write, create new companies, and perform research. As you can see, a chemical engineer can find a niche in any scientific or engineering field. While the engineer often works in a plant or lab, shes also found in the boardroom, office, classroom, and out at field locations. Chemical engineers are in high demand, so they typically command higher salaries than chemists or other types of engineers. What Skills Does a Chemical Engineer Need? Chemical engineers work in teams, so an engineer needs to be able to work and communicate  with others. Chemical engineers study mathematics, energy and mass transfer, thermodynamics, fluid mechanics, separation technology, matter and energy balances, and other topics of engineering, plus they study chemical reaction kinetics, process design, and reactor design. A chemical engineer needs to be analytical and meticulous. Someone who is great at chemistry and math and loves solving problems would enjoy the discipline. Typically chemical engineering progresses to a masters degree because theres so much to learn. More About Chemical Engineering If youd like to learn more about chemical engineering, start with reasons to study it. View the chemical engineer job profile and learn how much money an engineer makes. Theres also a handy list of types of jobs in chemical engineering.

The Role of Climate Change on Our Nation’s Infrastructure System Free Essays

string(66) " swerve our oil use, co2 emanations, and increase productiveness\." The Role of Climate Change on Our Nation’s Infrastructure System Introduction: Infrastructure plays a critical function in everybody’s day-to-day life, but most people don’t recognize merely how extended that function truly is. Whether it’s going from one topographic point to another, utilizing power, imbibing tap H2O, or blushing a lavatory substructure helps us populate our lives to the criterion that we have become used to and maintain our economic system traveling. There are many factors that need to be considered when measuring the current and future province of substructure wellness. We will write a custom essay sample on The Role of Climate Change on Our Nation’s Infrastructure System or any similar topic only for you Order Now One factor is the consequence of a altering clime, but it is hard to gauge merely how it will impact our substructure system since its hereafter impacts can merely be loosely anticipated. In this paper I will look into the function substructure plays in the aiding and deterring of clime alteration, the current and future province of our substructure and how climate alteration can impact it, and possible solutions through invention in policy and support to assist minimise the effects. History of Support: Ever since President Woodrow Wilson signed the Federal-Aid Road Act in 1916, the nature and extent of the federal authorities in the edifice, maintaining, and support of the corporate states surface substructure system has been broad ranging. The 1916 act launched the Federal-Aid Highway Program, every bit good as presenting the States with grants to assist in the building of roads that would be used in mail bringing. The mandate of the National System of Interstate and Defense Highways and the creative activity of the Federal Highway Trust Fund in 1956 marked a dramatic heightening of the Federal governments’ impact in the creative activity of the nation’s roadways by making the model for a national route system and a support system for roads to be created [ 1 ] . The basic construction for federal support of substructure was set up so that federal financess could be granted to the States by undertakings submitted for blessing, and so if the programs were approved for the financess they would have a part of cost, and the remainder of the support is required by the State and local authoritiess that need the undertaking completed [ 2 ] . Since so most federal support has been granted though extensions of old Acts of the Apostless and the procedure of how assistance is given has remained largely unchanged over this clip. A cardinal ground for the age of many substructure systems is due to the aggressive disbursement on substructure that was initialized in the late 1930’s through the early 1940’s by President Roosevelt, normally referred to as the New Deal Programs, which used big sums of federal financess to make the footing of many of our roadway and electrical systems. Much of the substructure built during this clip has non been undated since it was originally built. The sum of support for substructure has varied over clip but it has been at a degree under what it needed to be at to supply a strong and efficient system. Through history there has been a spread between what was needed for substructure and what was really spent. On mean merely about 2.4 % of our GDP is spent on substructure in America. To compare, Europe spends about 5 % and China spends about 9 % of their GPD on their substructure. This deficiency of disbursement and development in substructure has led to our current ranking of 15Thursday, out of the 32 OECD states, in footings of our overall satisfaction of our roads and main roads [ 2 ] . Current province of Infrastructure: The systems of substructure in America are presently in one of the poorest provinces in the country’s history. The American Society of Civil Engineers ( ASCE ) release a study card rating at least 12 of the country’s substructure systems every four old ages traveling back to 1998, in that clip they have released 5 study cards with the most recent being in 2013. The overall GPA of our country’s substructure has been given a class of D three times and a D+ two times, with the 2013 study card giving a D+ . A hapless and inefficient substructure system is non merely insecure, but it besides exacerbates fuel and energy ingestion, creates extra injury to the environment through pollution and taint, and besides wastes people’s clip and money. ASCE estimates that the sum of support needed to increase each class to a class of a B, considered to be in a ‘good’ province, by 2020 is $ 3.6 trillion. However, the estimated support by 2020 for all the classs is estimated to be merely about $ 2 trillion, go forthing a $ 1.6 trillion support spread which will surly take to an substructure province that is at a comparable degree that we see now [ 3 ] . With an expected substructure province to stay in hapless conditions, an added challenge in the appraisal of future impacts by clime alteration on substructure arise when finding how pieces and parts that are already stressed and aged will react to climate alteration. We can analyze how new parts will respond by preforming trial in labs to imitate clime alteration effects on them to see how the rates of impairment could perchance play out over clip, but seeking to detect how fast the altering rates of parts that have been used over the past decennaries is difficult to precisely quantify. Infrastructure and Climate Change: Infrastructure plays a big function in our nursery gas emanations and depending on the conditions of the system it can either assist us in the chase of diminishing emanations or it can be an added releaser of emanations. Many of the solutions to the jobs in our substructure system besides have the potency to assist out other jobs in the system every bit good as to assist diminish our usage of fossil fuels. An efficient transit substructure system is critical to assist swerve our oil use, co2 emanations, and increase productiveness. You read "The Role of Climate Change on Our Nation’s Infrastructure System" in category "Essay examples" Traffic congestion on roads consequences in 1.9 billion gallons of gasolene to be burned per twelvemonth, and the costs to drivers is over $ 100 billion in wasted fuel and lost clip. A new and efficient air traffic control systems we would salvage around 3 billion gallons of jet fuel a twelvemonth from being wasted [ 1 ] . On the other manus if w e increase people’s ability to use public transit and mass transit services the positive effects could ruffle through many countries of transit and public wellness. Increased usage of public and aggregate transit would assist to maintain autos off the route, particularly during peak transposing times. This would hold the consequence of non merely cut downing traffic conditions, which would assist to relieve some of the otiose gasolene that’s burned while waiting in traffic, but to besides halt the combustion of gasolene by all the people who normally drive a auto. With less people really on the roads, the conditions of the roadways will be maintained for a longer clip, which once more has the consequence of cut downing traffic and wasted gas burned while waiting in traffic. Plus, taking more autos off the route during the early hours should assist to cut down the sum of smog formation in some high-dense metropoliss. Most of the effects of clime alteration will hold some impacts on different countries of the substructure system. A big factor to the substructure system is the addition in big precipitation events, an addition in planetary sea degrees, and the addition in utmost conditions events [ 4 ] . With increasing events of big precipitation our dikes, imbibing and waste H2O systems, and levees will all be subjected to new stressors that can worsen the procedure of early weakness and pre-mature impairment [ 5 ] . Sing the mean age of all the states dams to be 52 old ages old, and that approximately 17 % of them are considered high risky, the emphasis from the addition of flows coming in from affiliated H2O ways added to the addition of heavy deposits that big precipitation events bring into the H2O system which hurt the overall wellness of a dike, their length of service is expected to diminish. The imbibing and waste H2O systems is expected to endure from many of the same emphasis as dike wil l, except the excess H2O will besides be coming from our sewerage system so that big urban countries will see big impacts from the high sum of paving that helps funnel excess sums of H2O into the system. Large sums of precipitation and the addition of the sea degree will stretch our levee system with added stressors that can give a possible harmful failure that could be every bit annihilating as a dam failure. Both dikes and levees hold back H2O that could potentially deluge most of the coastal and low lying countries. Extreme conditions events are the chief causes for many of the energy grid power breaks. Breaks can be caused from knocked over tree limbs on power lines, implosion therapy of transmittal Stationss, to the devastation of grapevine subdivisions [ 3 ] . In America, our substructure is presently in an abysmal province, and with support for the hereafter projected to hardly cover half of what it will take to convey it into a good province it is safe to state that it will go on to let down. Decision and How to Continue: The chief stressors associated with substructure development are from the continual lacking of support and an overall absence of a big scale leading function in footings of establishing when and what undertakings are taken on so to most expeditiously finish staying undertakings so that their benefits will assist other unfinished undertakings or won’t be negated because of unfinished undertakings. All of the systems of substructure are connected ; the quality of H2O downstream of a river is effected by the quality that has been put out upstream and if a main road outside a metropolis has awful route conditions people and concern are less likely to go and devour in that metropolis even if the city’s roads have all merely been repaved. With this in head, the manner we choose the following set of undertakings to undergo demand to be picked with careful consideration to how its betterments will impact other undertakings still necessitating completed. The ability to implement this sort of planning is presently really hard though, because support is progressively being moved from big supervising body’s to smaller and smaller 1s. Federal support for substructure investings have been continuously shriveling over the past twosome decennaries which has led to the States, and progressively even more so the local and municipality authoritiess that are forced to come up with the support spread. With a lessening in centralisation of undertaking planning, along with an addition of undertakings that have to be delayed due to miss of financess that need to come from the fighting provinces budgets or till adequate financess can be raised by a local or municipality authorities, the ability now to integrate a program for phasing in different undertakings is acquiring progressively harder. When be aftering the range and particulars of a given undertaking factors such as sustainability, resilience, and the continual care and up-keep demand to be primary for any planning of substructure. The transit systems, H2O intervention systems, and flood control systems being built today must be able to account for both current and future challenges that are likely to be confronting them. Infrastructure needs to be built with future population motion in head as good, so when new systems are built or betterments are made to the bing substructure it needs to be able to manage tonss much greater than what it presently needed or a design for a system needs to be scaled so it’s merely responsible for a smaller population denseness. In add-on, funding for research and development at all degrees need to be implemented so the development of new and of all time more efficient methods and stuffs for the edifice and maintaining of substructure can go on. Future development besides needs to let for easier and cheaper betterments and ascents over the clip of its usage. Future care can be done more easy if they are built to let replacing over different clip intervals so that when it comes clip for the necessary betterments to be made it doesn’t demand to be all at the same clip. While funding demands to be increased from both private and public sectors, the users of the substructure demand to larn and besides pay the appropriate monetary value for them to utilize it. Mentions [ 1 ] ( 2012 ) â€Å"Highway Funding.† Congressional Digest. Volume 91, Issue 7, pp. 194, 195, 224. [ 2 ] ( 2012 ) â€Å"Surface Transportation Policy.† Congressional Digest. Volume 91, Issue 7, pp. 196-199. [ 3 ] ( 2013 ) â€Å"2013 Report Card for America’s Infrastructure.† [ 4 ] IPCC, 2007: Summary for Policymakers. In: Climate Change 2007: Impacts, Adaptation and Vulnerability. Contribution of Working. Group II to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change, M.L. Parry, O.F. Canziani, J.P. Palutikof, P.J. new wave der Linden and C.E. Hanson, Eds. , Cambridge University Press, Cambridge, UK, 7-22. [ 5 ] Hall, David. â€Å" Corps of Engineers ‘ Studies Will Inform Response to Climate Change. †Civil EngineeringJuly-Aug. 2013: 20-23. Print [ 6 ] IPCC, 2007: Summary for Policymakers. In: Climate Change 2007: Extenuation. Contribution of Working Group III to the Fourth Assessment. Report of the Intergovernmental Panel on Climate Change [ B. Metz, O.R. Davidson, P.R. Bosch, R. Dave, L.A. Meyer ( explosive detection systems ) ] , Cambridge University Press, Cambridge, United Kingdom and New York, NY, USA. [ 7 ] IPCC, 2013: Summary for Policymakers. In: Climate Change 2013: The Physical Science Basis. Contribution of Working Group I to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change [ Stocker, T.F. , D. Qin, G.-K. Plattner, M. Tignor, S. K. Allen, J. Boschung, A. Nauels, Y. Xia, V. Bex and P.M. Midgley ( eds. ) ] . Cambridge University Press, Cambridge, United Kingdom and New York, NY, USA. [ 8 ] ( 2011 ) â€Å"Failure to Act: The Impact of Current Infrastructure Investment On America’s Economic Future.† How to cite The Role of Climate Change on Our Nation’s Infrastructure System, Essay examples

Cultural Conservation Essay Example For Students

Cultural Conservation Essay One problem with Cultural Conservation Essay: To put it simply, and its not a problems that only conservatives very often confuse (or conflate ethics and aesthetics. When Gertrude Himmererfarf lambastes out (as she perceives it) amoral, sexually deviant and polymorpously perverse culture she is primarily responding to something that she finds culturally foreign and aesthetically threatening. I agree with her that values are oftentimes a good thing, but only when they are born of an ethical and pragmatic perspective, not an aesthetic one. The conservatives want a seemingly neat and compartment society wherein stable appearances are maintained and archaic cultural archetypes are adhered to religiously. I grew up in a world of cultural archetypes. I grew up with white businessmen going to office buildings while their wives stayed at home and their kids went to school. or , more accurately, I grew up with alcoholic, adulterous business men who lives culturally insular lives while their wives took sedatives and smoked cigarettes and vented their frustrations on there kids, and these same kids took reams of drugs, got abortions, drove drunk, and victimized the weaklings. I grew up in what most conservatives would consider a utopia; lots of money, prestige, cultural cohesion, and good conservative values. But their values were in fact aesthetics, and maintaining these aesthetics ruled and ruined their lives. Almost everyone in this suburban bourgeoisie system hated their lives, but because they had been brought up to worship aesthetic myths they felt that to question them was an admission of personal failure. What are these myths? theyre old and platitudinal but Ill trot on them again: thats money makes you happy, that society is right and that poverty is bad, that maintaining convention in every aspect of your life is the ultimate good, that aberrance from these ideas is sin. ect. Im not going to say that the polar opposites of the clich;s is true, that would be one of the failings of the radical left. I believe that for the most part these criteria are irrelevant. Money can make life easier, but it also can make life miserable. Poverty can be bad but it can also be fine. Convention has some good points and some bad points. What it all comes down to is flexibility that should allow for the well being of the individual without compromising the rights of other individuals. When conservatives trot out their litany of evils-homosexuality, single parent families, multiculturalism, ect. Im always asking why?. If people are happy being gay then whets wrong with that? it may be a lifestyle thats aesthetically different from what weve been brought up with, but so what? and single parent families? better a loving single parent family than a conventional family wherein the parents hate each other and the father is a demagogue. One reason that we have such a wide variety of alternative lifestyles is that the conventional lifestyles that the conservatives champion are often quite flawed and restrictive. Restrictive mores can be terrific when applied to peoples violent impulses, but restrictiveness is terribly unhealthy when its used to get people to conform to arbitrate social archetypes. This restrictiveness can make people feel inadequate and inferior and it needs to be done away with. If someones gay, let them be gay. If your son wants to marry a black woman (or white or yellow or Muslim) then let the,. We need to love each other and support each other even if we choose to live in alternatives but harmless ways. Obviously if your son is a rapist or a wifebeater or a child molester then you need to question your support of his actions and values. Im not championing a retreat for responsibility. PRO-GAY MARRIAGE IN AMERICA Essay I believe that personal and social well being is built upon and foundation of hard work, loyalty, honesty, diligence, respect, tolerance, and other good values. But it doesnt matter what the cultural manifestation of the values looks like. It can be straight or gay or male or female or black or white or anything as long as its respectful and makes the practitioner feel well. So my advise to cultural conservatives (and others) would be to cultivate an approach to values based on principles rather than aesthetics. I would also like to say that any pronouncements on the values of others, especially pronouncements veering into the pre-scriptive realm, need to be cautious, pragmatic, logical and not just the typically hateful and reactionary vacuities that weve grown so accustomed to. .