THE ROLE OF AUDITORS IN FINANCIAL CRISIS Submitted by Syed Ijtaba Ali Bukhari In the Fulfillment for the Degree of B.Com Honors LAHORE SCHOOL OF ACCOUNTANCY & FINANCE THE UNIVERSITY OF LAHORE (2013) The University of Lahore ------------------------------------------------- Lahore School of Accountancy & Finance Supervisory Committee We the Supervisory Committee‚ certify that the contents and the form of thesis submitted by Syed Ijtaba Ali Bukhari have been found satisfactory and recommend
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dramatic run-up in asset prices. At the same time‚ the regional economies of Thailand‚ Malaysia‚ Indonesia‚ Singapore‚ and South Korea experienced high growth rates‚ 8–12% GDP‚ in the late 1980s and early 1990s. This achievement was widely acclaimed by financial institutions including the IMF and World Bank‚ and was known as part of the "Asian economic miracle". In 1994‚ noted economist Paul Krugman published an article attacking the idea of an "Asian economic miracle".[4] He argued that East Asia’s economic
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To what extent can the economic and financial crisis starting in 2007-8 be attributed to the flaws of the shareholder value principle of corporate governance? Intro Corporate governance is a critical concept in the commercial world of today with the idea originating initially from the U.S. The importance of corporate governance is made more considerable due to the increasing influence and consequences companies have on the daily lives of individuals and making up a large proportion of economic
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kistan is most likely to face a major energy crisis in natural gas‚ power and oil in the next three to four years that could choke the economic growth for many years to come‚ official estimates and energy experts suggest. Pakistan’s total energy requirement would increase by about 48 per cent to 80 million tons of oil equivalent (MTOE) in year 2010 from about 54 MTOE currently‚ but major initiatives of meeting this gap are far from turning into reality‚ said a former petroleum minister on condition
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History of Financial Panics and Crisis in the United States Panics and Depressions | Dates | Duration | Prime area of collapse | Panic of 1792 | 1792-1800 | 8 years | Commerce and real estate | Panic of 1819 | 1819-1824 | 5 years | Bank failures | Panic of 1837 | 1837-1843 | 6 years | Bank failures‚ currency collapse | Panic of 1857 | 1857-1860 | 3 years | Railroads and real estate | Panic of 1873 | 1873-1879 | 6 years | Bank failures | Depression | 1873-1896 | 23 years | Global depression
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review 1 The 2008 global financial crisis The effects on the U.S. economy have by now been widely analysed and dissected‚ so several economists have focused on the influences of other countries. Mishkin (2011) pointed out that the inner link between countries’ financial systems was tighter than previously realized. Naudé (2009) studied the correlation between the 2008 financial crisis and the developing countries and proposed that some developing countries were less affected and they had the
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I. Introduction Financial crises had repeated several times such as the great depression in 1920‚ saving and loan crisis in 1986 and Asian crisis in 1997 before the 2007-08 financial crisis. There are a considerable number of articles about the causes of financial crises. Based on the traditional view‚ the causes of the financial crisis are the government budget imbalances‚ high inflation‚ low investment‚ low savings and low growth rate (Esquivel and Larrain‚ 1998). Specifically‚ the causes for
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ANALYSIS AND PORTFOLIO MANAGEMENT TERM PAPER IMPACT OF 2008 RECESSION ON THE INDIAN REAL ESTATE SECTOR Abstract This paper attempts to analyse the impact of the 2008 recession on the Indian real estate sector through fundamental analysis and also to suggest the future scope of this sector in terms of investment opportunities. It is found that the real estate sector was one of the worst affected sectors in 2008 and that the current fundamentals of this sector are decent and
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Federal Reserve and the Financial Crisis March 28th‚ 2015 Elizabeth Turra Brouwer 11-1175 Macroeconomics The Federal Reserve and the financial crisis The book "The Federal Reserve and the Financial Crisis” contains 4 lectures given by Ben Bernanke‚ chairman of the U.S. Federal Reserve at George Washington University in March 2012. In this book he explains the type of actions taken by the Fed during the worst financial crisis since the Great Depression‚ the crisis of 2008-2009. The main idea
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Globalization and the Asian Financial Crisis The Asian financial crisis is a prime example of an economic meltdown and it exemplifies the effects globalization has during times of widespread economic downturn. According to the Oxford English Dictionary‚ globalization is “the integration of national economies into the international economy through trade‚ foreign direct investment (FDI)‚ capital flows‚ migration and the spread of technology.” The global economy is becoming further inter-twined
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