A point that is created when two or more parties reach an agreement that is legally enforceable and is executed in accordance with the legal requirements. Contracts are an important part of every business and therefore it is very important that the parties to contract understand the terms of the contract and also their rights and responsibilities under the contract. In this way the contract should reflect the agreement between the parties as the rights and obligations of the parties are decided by
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What role did the accounting profession play in the recent subprime mortgage crisis? What could they have done differently? An independent auditor has a duty is to: identify‚ measure‚ and communicate financial information about an entity for decision making purposes. They are also responsible for generating the financial statements/reports for an organization. (Marshall‚ McManus‚ Viele‚ 2008) The subprime mortgage crisis is the result of contract laws allowing lenders the securitization of subprime
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duping the auditors. As for analytical procedures performed‚ this can be a problem at times because sometimes there is a lack of comparability among companies and there can also be an inability to obtain current industry data. Question 3: In testimony before Congress‚ George Greenspan reported that one means he used to audit the insurance restoration contracts was to verify that his client actually received payment on those jobs. How can such apparently reliable evidence lead an auditor to an improper
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external auditors to be independent? Relate your answer to the primary role of external auditors? By Zachariah Godfrey-Plews This essay has asked me to look at the importance of external auditors and why it is vital for them to remain independent. I will try and look at the many ways of the advantages of independent auditing from different perspectives for example the company itself‚ the general public and the state. I think it is important to first define what an audit and an external auditor to be
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APPLIED FINANCIAL MANAGEMENT TUTORIAL SOLUTIONS Question 1 (a) Define expropriation The taking of foreign property‚ with or without compensation‚ by a government. (b ) When expropriation does occur – how can a company respond? Broadly the company can offer to allow more local involvement in the project‚ offer to support the local government (legal issues?)‚ work in political opposition to the local government‚ try to use local (due to sovereign immunity) legal solutions‚ lobby the firm’s
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Theories‚ p.2) Also‚ the principle of utility applied to it is generally expressed as “Always act to produce greatest happiness for the greatest number of people. “ (Chan Chun Fai’s Power Point) For example‚ Betty has made a false promise to Peter. She borrowed some money from Tom as to travel to Taiwan with her friends and promised him that she would return money to him after one week. So‚ Tom was glad to lean her money. Betty made a false promise to have enough money travelling with their friends
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THE ROLE OF AUDITORS IN THE CONTEXT OF CORPORATE GOVERNANCE Asst. Prof. Loganathan Krishnan Abstract Auditors examine company’s accounts and report to the company on the accounts. Fundamentally‚ the concern is how auditors carry out these duties effectively. Legislations namely Companies Act 1965‚ Securities Industry Act 1983 which has been consolidated as Capital Market and Services Act 2007 have made major inroads to ensure that auditors carry out their duties and obligations effectively. Additionally
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so much in paraphrase or translation. However‚ despite this importance of precise wording‚ the meanings of literary works are often disturbingly imprecise. Apparently‚ the linguistics choices in literature are not the concern of applied linguistics. It does not have the same kind of direct social and economic consequences as language education policy‚ or the spread of English as lingua franca. Yet‚ it is wrong to decrease the value of the impact and importance of literature. It reflects our individual
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Applied Management Project (BSS000-6) NEW COMMUNICATION TECHNOLOGY AND SELLING CHANNELS AND THEIR APPROPRIATENESS FOR FMCG BUSINESS Name: Umar Farooq Faisal ID : 0916922 Table of Contents Serial no: | Topic | Page no: | | Executive Summary | 3 | | Aims & objectives | 4 | 1 | Advertising | 5 | 2 | FMCG Introduction | 6 | 3 | Advertising of FMCG | 7 | 4 | Conventional Advertising of FMCG | 7 | 4.14.24.34.44.5 | Radio Based Advertising | 8 | | Television
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“yes‚ surely it is important but it is no longer new.”.” –Michel De Montaigne‚ 16th century. Kinesiology is defined as the study of muscle and body movements; whereas‚ applied kinesiology is defined as the diagnostic phenomenon of a muscle weakening when a person experienced anxiety or when they make a false statement. The art of applied kinesiology was founded in 1964 by a chiropractor in Detroit by the name of Dr. George J. Goodheart Jr. today. Kinesiology is based on the theory
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