place your trust in certain key personnel" Introduction Within any organisation a high level of trust has traditionally been placed in management and key personnel. This has led to some quite public failures in corporate governance and internal controls Enron‚ WorldCom‚ HIH insurance etc A lack of effective personnel controls can lead to a multitude of organisation problems such as fraud‚ theft‚ excessive costs and poor management decisions. The solution therefore is not to trust the key
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existed at the when the gift was made but ceased on the date it is to be executed. * Eg : A make a will to give RM1million to XXX charity in 1995 . A died in 2002. XXX charity ceased in 2000. a) Width of charitable intent * Where a charitable trust fails as being effective on the date of the gift‚ the gift will lapse of the property will apply cy pres * Only if the court finds a wider intent‚ cy pres will be applicable. RE RYMER [1984] 1 Ch 143 * A legacy to the rector for
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Friendship is a necessary aspect of every human ’s life‚ as we are not self sufficient in and of ourselves (Other Selves‚ pg. 30). Despite its necessity‚ in some cases we are either forced or morally required to end these relationships. When the trust between two parties has been broken‚ the loyalty of the friendship is soiled‚ and it is therefore a true and just action to end the friendship. First‚ let ’s define what it means to be a friend. Friends can be described as: "an intimate associate
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Instructions 1. This assignment will constitute 20% of your total final mark. 2. Your Assignment‚ excluding footnotes‚ must not exceed 5‚000 words. One mark will be deducted for every word exceeding the maximum word count. 3. Your answer must be printed in 12 point Times New Roman or Roman font‚ with 1.5 spacing‚ on single-sided sheets with a one-inch margin all around. 4. Marks will be awarded for judicious use of headings and proper citation style. Conversely‚ marks will be deducted
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Clare Rapeseed Oil Ltd wishes to launch a new value-add product to the Irish food market. Golden Rapeseed Oil with added vitamin D is fortified cooking oil which has been enriched with vitamin D an essential micronutrient. This product is available to purchase in the main Irish supermarkets at €4.75 (€0.95 per 100ml) in 500ml plastic bottles. Value-Add Being Proposed: Rapeseed oil is a natural source of essential polyunsaturated fatty acids omega 3‚ 6 and 9 (1). These fatty acids lower cholesterol
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concepts from this course by writing a clear and thoughtful report to an executive-level audience. Please choose EITHER the Delta Oil Diversity Case (see pg. 1) OR the Eclipse Airlines Ethics Case (see pg. 4). Detailed instructions for completing each case assignment are below. Delta Oil Diversity Case You have been hired as a consultant to help Delta Oil improve the management of diversity within their organization. The petroleum industry tends to be heavily male dominated and Delta is
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The importance of accounting standards A PricewaterhouseCoopers Case Study Introduction PricewaterhouseCoopers was created in July 1998 by the merger of two firms - Price Waterhouse and Coopers & Lybrand - each with historical roots going back some 150 years and originating in London. PricewaterhouseCoopers‚ the world’s largest professional services organization‚ helps its clients build value‚ manage risk and improve their performance. Drawing on the talents of more than 140‚000 people in 152
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VARIATION OF TRUST 9.1 Introduction It means in what circumstances changes can be made in the terms of the trust. After a trust has been validly created‚ it becomes apparent that it might be better that original terms were altered. Hence‚ variation of trust allows the trustees to do things beyond their powers. CASE LAW: Saunders v/s Gautier: It states that changes can be made in the Trust. Hence‚ the general rule is that the original trust probate must be obtained and a breach of trust will be committed
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direction of courts when imposing a constructive trust upon a trustee de son tort. Constructive Trustee Constructive trusts are not confined to one definition. They are comprised of all trusts recognized and enforced by the courts that either resulting or express trusts. Express trusts are trusts are a design of the real intention of the parties however constructive trusts are ‘invitum’ (against the will or consent of the party) Constructive trusts are usually the result of gross violation of a
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a) In your opinion‚ why do standard setters require measurement methods other than traditional historical cost accounting? At the beginning‚ traditional historical cost accounting practice were designed to allocate financial results across reporting periods and record the outcome of transactions. Under this approach‚ revenue is recorded when it is realized while expenses are matched in the same reporting period as revenue. However‚ in 1980s accounting standard setters began to shift away from this
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