Auditor-General’s Report to Parliament 2001 Volume Four 15 Collapse of HIH Insurance KEY FINDINGS The collapse of HIH Insurance (HIH) in early 2001 will significantly affect NSW Government finances: ♦ A $600 million liability (estimated) has been included in the 2001-02 NSW Budget. This amount relates to a support package set up by the NSW Government for NSW residents who have HIH Compulsory Third Party (CTP) and home-owner warranty insurance claims. NSW public sector agencies have $30.5 million
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The crisis which ultimately led to the collapse of the Weimar Republic was contributed by World War 1 and political‚ cultural and economic factors. The Weimar Republic would have continued to be a functional government far longer than achieved if not for the economic burdens imposed by the Great Depression‚ the flawed Article 48 and the rise of the Hitler and the Nazi Party. These factors eventually contributed to the downfall of Germany’s first attempt at a legitimate Democracy. The societal‚ economical
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What led to the eventual collapse of Enron under Lay and Skilling and How? Answer: All the fraud activities conducted by Lay and Skilling and bad corporate culture led to the Eventual collapse of Enron. Both were aware of the Enron Code of Ethics but they did not follow it. Kenneth Lay former CEO was indicted on 11 criminal counts of fraud and making misleading statements. Jeff Skilling was indicted on 35 counts of wire fraud‚ securities fraud‚ conspiracy‚ making false statement on financial reports
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that merge of commercial and investment banks is a better approach to achieving stability. After the global financial crisis‚ the American economy went into recession. The policy priority of American government was then to intervene into its banking system so as to mitigate the impact of the crisis. One advantage of the merger of banks is that it can improve the overall condition of the economy (Khan‚ 2012). The merger of banks unites small and weak unit banks which will then be able to provide diverse
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Collapse of Dick Smith and Audit Risks The article selected is intended to discuss the causes of the collapses of Dick Smith and also the responsibilities of associated parties. The author‚ Knight (2016)‚ provides a generic discussion on both of the issues based on public available financial information of the company as well as some preliminary findings of the investigation regarding the Dick Smith Collapse. Dick Smith was floated by Anchorage Capital Partners‚ an Australian-based private equity
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WHAT LED TO THE COLLAPSE OF CONSENSUS? The 1950’s and early 1960’s was a time of consensus in the US. By the middle of the 60’s the US experienced a series of shocks which undermined consensus. The assassination of President Kennedy in Dallas in 1963. The differences in the civil rights movement. The escalation of the Vietnam War. All of these factors undermined American confidence to change the world and improve the country. By the late 60’s‚ US society was polarised: divided between different
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Colony Collapse Disorder is the phenomenon that occurs when the majority of worker bees in a colony disappear and leave behind a queen. The crazy part of this is that there is plenty of food and a few nurse bees left to care for the remaining immature bees and the queen. There has been theory upon theory of why this is happening but no one has the for sure answer. You may be asking why is this such a big deal?! Well CCD (Colony Collapse Disorder) causes significant economic losses because many agricultural
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PRIVATISATION IN BANKS BACHELOR OF COMMERCE BANKING & INSURANCE SEMESTER V 2012-13 SUBMITTED BY TANIMA M. BANSAL SEAT No. JAI HIND COLLEGE ‘A’ ROAD‚ CHURCHGATE‚ MUMBAI - 400 020. PRIVATISATION IN BANKS BACHELOR OF COMMERCE BANKING & INSURANCE SEMESTER V 2012-13 SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF DEGREE OF BACHELOR OF COMMERCE — BANKING & INSURANCE BY TANIMA M. BANSAL SEAT No. JAI HIND COLLEGE ‘A’
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Have you ever wondered what the what the main causes for Rome’s collapse? Multiple Roman historians believe Rome’s declining empire was caused by military weakness‚ legal justice/lack of trust‚ followed by political instability. Rome began as a sparsely populated western town in 750 BCE that was rarely known by any large empire such as Greece. Then at it’s height; it expanded‚ covering most of the Mediterranean‚ a small part of Africa‚ Asia‚ and Europe. After defeating many threats; the Romans began
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The collapse of the Fargo Grain Elevator was an unfortunate event that could’ve been prevented. It has something in common with almost every other building in the world‚ it was built on soil. It is different everywhere you look and must be treated differently in every situation. Many people think that as long as there land beneath a building that it’s fine and you can put whatever you want on top of it. As years have gone by and scientists and engineers have been able to study different types of
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