the firm violated the independence principles of the SEC. While providing the audit service‚ KPMG provided accounting services like bookkeeping‚ payroll for the audit client. That creates the self-review threat and impairs auditor’s independence which is stated in the second principle of the general standard of independence of the SEC “places an accountant in the position of auditing her own work.” KPMG also provided management service through sending the staff to work on senior position for its
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to owners 301 XII Example disclosures for government-related entities under IAS 24 Related Party Disclosures 303 XIII Example disclosures for entities with a service concession arrangement 307 Technical guide 310 Other ways KPMG member
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Olympus Corporation‚ a major Japanese manufacturer of optical equipment listed on the Tokyo Stock Exchange‚ was reported to have a 10-year loss-hiding scandal in Oct 14‚ 2011. The scandal came to light when the then Olympus chief executive Michael Woodford went public with concerns over huge payments the company had made. Olympus invested in financial derivatives and other risky investments to boost profits during 1980s. But its investment portfolio had a loss in value of $2.1 billion in 1991. In
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leleDor Biran [2012843469] Case #5 -‐ Double Deal Making 1.1. Netscape Interests – Netscape is in pursuit for market shares‚ their main concern is keeping their shares in the rising market and blocking their main competitor – Microsoft. Beside all that‚ enlarging the revenues is always an
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extending over millions of years is called carbonization. Ø TYPES OF COAL Coal formation is a continuing process. Depending on carbon content‚ moisture and volatile compounds‚ coal is classified into four categories: Peat‚ Lignite‚ Bituminous and Anthracite. Type of coal Peat(youngest variety)-light brown Lignite Bituminous(the common variety of coal)-grey black Anthracite(best variety of coal)hard coal % of carbon content 50-60 Uses 60-70 70-80 In thermal power plants Household
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Soil is the layer of broken rock particles and decaying organic matter on the surface of earth‚ which is essential for the growth of plants. It comprises of all the necessary nutrients that aid the growth and development of plants and trees. There are different types of soils‚ each one of them varying in its nature and texture. While some soils are deep rooted‚ the others are present on the margin. They also differentiate in their color‚ as some may be red while others are black. There are various
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Introduction Mangrove swamps are a type of coastal wetland found on five out of seven continents between the latitudes 30ºN and 30ºS. Mangrove swamps are rich communities of both vegetative and animal species. The swamps are unique in the fact that they are a highly vegetated area found on the edge of marine coasts. The major vegetation in this area has adapted to absorb its water from the sea‚ and its oxygen from the air as opposed to the soil. This environment serves as home to many animal species
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s t r at eg i c & c o m m e r c i a l i n t e l l i g e n c e grocery retailing in asia Pacific a D V i s o rY Contents Introduction 1 Executive summary 2 Australia 4 China 8 Hong Kong 11 India 14 Indonesia 17
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Business Law Lecture 1: Separation of powers: Sources of Law: Common Law judge made law / case law Statutory Law Parliament Parliament: Government Parliament Bi-cameral < State Parliament Government Parliament Upper = Senate Lower = House of Reps State Parliament Upper = Legislative Council Lower = Legislative Assembly Interpretation Of Law: 1. Literal approach (gives literal interpretation to statute’s words) 2. Golden Rule (avoids interpretations that cause absurdities)
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sketch‚ one can see how the heavy external walls were constructed in an inner and outer layer of stone blocks; insulated with a core of peat and earth and waterproofed with clay. Turf was also used to absorb any excess retained moisture. The roof was based on a structural frame built using driftwood or whale bone‚ clad with timber coursing. Over the wood‚ layers of peat‚ grass and straw thatch were used for thermal insulation and waterproofing. The roofing materials were secured with a rope netting and
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