company was in bankruptcy. Enron was created in 1985 out of a merger of two gas pipelines‚ and was a pioneer in trading natural gas and electricity in the newly deregulated utilities markets. In its earlier years‚ Enron made its money from hard assets like pipelines. However‚ by the end of the 1990s‚ 80% of Enron’s earnings came from a more vague business known as “wholesale energy operations and services.” Enron had built new markets‚ such as trading of weather securities. In early 2001‚ speculation
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i) Outline the important concepts of either situation ethics or utilitarianism ii) To what extent are these important concepts undermined by relevant criticisms? Situation Ethics is a normative‚ relative ethical theory. It emerged at a time when the Church and society were changing‚ women were given a more prominent status in the workplace and the paternalism of society was decreasing. Thee main factor of change was the sexual revolution of the 1960’s‚ people were beginning to express their individualism
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ethical issues and dilemmas. Resolving these ethical issues can often be complicated due to the lack of guidance provided by the Code of Ethics for Professional Accountants. Ethical theories present frameworks to assist in the decision making process. The 6-Step Ethical Framework outlines an approach to take towards the ethical issues not addressed by the Code of Ethics. The 6-Step framework is demonstrated with the following. Step 1: Relevant Facts The relevant facts can be obtained from the case
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Freneau wrote “To Sir Toby” (Freneau 759-760) he wanted to paint a horrible picture of what was happening to slaves that were in the sugar plantations of Jamaica so his readers could get a plain view of their treatment. In this essay I will explain what Freneau wanted you to know what life would be like as a slave in Jamaica. Also‚ I will discuss how slaves were treated and punished. Lastly‚ I will tell you what could happen even if a slave was able to get their freedom. I hope by the end of this
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structure of financial reporting in Australia had many levels. CALDB is part of which level? a. regulation by the profession b. regulation by the firm. c. self or peer regulation. d. government regulation. 4. Investors shift financial responsibility for audited financial information to the auditor in order to lower the expected loss from litigation or related settlements. This describes which theory of auditing? a. explanatory. b. agency.
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What Is Ethics? Ethics is the part of philosophy that deals with good and evil. Ethics tries to answer questions like: • What actions are good? What actions are evil? • How can we tell the difference? • Are good and evil the same for everyone? • How should we make hard decisions that might help or hurt other people? The Four main studies of ethics are; • Meta-ethics‚ about the theoretical meaning of moral propositions and ethical opinions; • Normative ethics‚ an abstract set of principles
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NIKE Part 1: Organizational Analysis 2/6/2013 NIKE Part 1: Organizational Analysis Table of Contents Executive Summary 3 Overview and History 4 Organizational Strategies and Innovation 5 Organizational Design and Effectiveness 6 Competitors 7 Organizational Structure 7 Board of Directors: 8 External Environment 9 Opportunities 9 Threats 9 Internal Environment 10 Strengths 10 Weaknesses 11 Competitors 11 Nike Products and Services 12 Information Technology
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Chapter 1 1.21 What is an audit? Required If an audit is none of the above‚ what is an audit designed to achieve? The primary objective of an audit is to express an opinion as to whether the financial report is prepared‚ in all material respects‚ in accordance with an identified financial reporting framework. An auditor is setting out to achieve enhanced credibility of information disclosed to increase reliability for the users of the financial statements. A definition from the Committee on Basic
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Week 5 Assignment What is the correct relationship of internal audit to senior management? The correct relationship to exist between internal auditors to senior management is one that meets the risk areas as defined by importance to senior management; this includes assurance and consultative reporting result. The same premise is also true for creating a correct relationship with operational management and the audit committee; under these cases‚ operational management desires consultative results
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Q1 (a) Highlight four control objectives that would be essential in a sales cycle (b) Outline three tests of control that should be performed by an auditor in each of the following areas: i. Cash receipts ii. Cash payments iii. Bank reconciliations (c) Summarize seven sources of internal control risks that have an impact on the financial reporting framework in an organization. Q2 (a) Outline four audit procedures you would carry out to verify the following items: i. Leased property
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