The Existence of Audit Expectation Gap Essay Example

The Existence of Audit Expectation Gap Essay The study investigates the existence of audit expectation gap in relation to society’s unreasonable expectations out of auditing in Bangladesh. This also identified the effects of auditing knowledge on the gap. Among all the classes of our society the accounting graduates are expected to have more knowledge on auditing, who represented 60% proxy of the users.For the purpose of the study, the four groups who are chosen as sample users are: (1) General investors (naive) (2) Students not completing any audit course (3) Students completing two (2) courses (Audits III) (IV) Articled students either level I or level II. The questionnaire comprised of two parts, were sent regarding three aspects: audit liability, audit reliability and materiality of audit opinion. It is found that the respondent who are closer to auditing concepts expect reasonably out of the auditors than the others. The knowledge in the respective fields affected the expectations both positively and negatively.Keyw ords: Expectation gap; audit liability; audit reliability; materiality of audit opinion; audit knowledge. Introduction: â€Å"Auditing is the accumulation and evaluation of evidence about information to determine and report on the degree of correspondence between the information and established criteria: Auditing should be done by a competent and independent third person† (Arens and Loebbecke 1988). The auditor in an audit opinion, certifies that the financial statements represent a true and fair view and are prepared in accordance with GAAP (Generally Accepted Accounting Principle) followed by the industry.The collapse of Lehman Brothers, an American bank with $691 billion in 15th September of 2008 along with subsequent bankruptcy of Washington Mutual Bank [$327. 9 billion] in September 26, 2008; General Motor [$91 billion] and CIT Group [$71 billion] in 2009 put the auditing profession and auditing itself into a severe challenge. Auditors’ prudent person concept or u nderperformance of the auditors and society’s over expectation individually or simultaneously result into audit expectation gap. Objectives of the Study Regarding Perpetual Expectation Gap: Expectation Gap was termed by Liggio in 1974 for the first time.Since then it is the significant differences regarding perceived materiality level between auditors and users of financial statements. The AICPA acknowledged the fact that -‘after considerable study of available evidence’ that ‘such a gap does exist’ (Cohen commission Report, AICPA 1978). From the subsequent definition provided by Arrington et al (1983), Monroe and Woodcliff 1993, the two major component was identified by Porter (1983 and 1993): (i)’reasonableness gap’ and (ii)’performance gap’.Reasonableness gap is the difference between what the society does expect the auditors to achieve and what they can reasonably expect to accomplish. Thus point of unreasonable expect ation comes. Performance gap is the difference between the responsibilities society reasonably expects out of audit and auditors’ performance. These gap widens as the role of audit increases. Now this study proceeds to answer the questions- who are the users feeling their expectations are not met and are those expectations reasonable in Bangladesh perspective? The study further tended to discover the impact of audit knowledge in reducing or increasing the gap.It is evident that more knowledgeable the users the closer gap. Reasonably naive investors are expected to seek more from audit report. Literature Review: From the birth of expectation gap, several studies have been conducted by the concerned specialists around the world. The findings were also centered to perpetual expectation gap however this was wider in some cases. In 1977, Baron et al investigated the differences in perceptions between auditors users of financial statement regarding auditor’s fraud detection duties revealed significant differences.In 1988, low et al conducted a study on audit expectation gap found difference in the area of fraud prevention, guaranteeing the accuracy of the financial statements, effective use of government funds management efficiency. In1992 1993, Humphery et al conducted a study regarding auditors’ role through a series of unstructured interviews, questionnaires mini case studies revealed insignificant differences audit functions but significant differences in regard to role of auditors.In June 2004, Javed Siddiqui Taslima Nasreen conducted a study â€Å"Audit expectation gap in Bangladesh: Perceptual differences between Accounting professionals students† and found a significant audit expectation gap. (Journal of Business Studies, University of Dhaka) In December 2004 the above specialist along with Al-amin conducted another study named â€Å"The Presence of a Reasonableness Gap? Students’ Perceptions Regarding Audit and t he Role of Audit Education in Bangladesh† (Journal of Business Studies,Vol. xxv, No. 2, December2004) and concluded somehow differently like –Knowledgeable students expected more unreasonably out of auditing.Methodology of the study: For the purpose of the study, the questionnaire method was applied . The questionnaire method despite its inherent shortcomings chosen appropriate for this study. Here four groups were selected. 20 questionnaires were sent to investors who are in general naive. Similar questionnaires were sent to 10 professionals who are under knowledge or Application level, to 10 students of Dept. of Accounting Information Systems (AIS), University of Dhaka (DU) who have just completed two Audit courses and another 10 questionnaires were sent to students who have no idea under same discipline.The issue of perceptions regarding audit is about measuring attitudes. For the purpose of this study, the seven-point Likert scale was used. Prior studies have used t he Likert scale for measuring the audit expectation gap in different countries (for example Schelluch 1996; Best et al 2001 etc. ) The response scale used for this study was- 1. Strongly agree 2. Moderately agree 3. Slightly agree 4. No opinion 5. Slightly disagree 6. Moderately disagree 7. Strongly disagree Strongly agree Strongly disagree 1. An auditor is a watchdog, not a bloodhound. 1234567 2.Auditor is responsible for audit failure, not for audit risk. 1234567 3. Auditor is responsible for detecting all fraud. 1234567 4. Auditing exists only because of legal binding. 1234567 5. The auditor is responsible for soundness in internal control1234567 6. The auditor is liable for maintaining accounting records. 1234567 7. The auditor is unbiased and objective. 1234567 8. Auditor should provide absolute assurance about the material misstatements in financial statements. 1234567 9. The audit report provides assurance about the entity’s future performance. 234567 10. The auditor a grees with the accounting policies of the entity. 1234567 Analysis and Findings: Survey Analysis: Assessment Point-1: â€Å"The auditor is a watchdog, not a bloodhound† ‘Watchdog means a person or a group of people whose job is to check that companies are not doing anything illegal or ignoring people’s rights’ (www. oup. com) Bloodhound means person or group of people who find any inconsistency regarding the concerned areas. The BSAs contain objectives, requirements application and other explanatory material that are designed to support the auditor in obtaining reasonable assurance.The BSAs require that the auditor exercise professional judgment and maintain professional skepticism throughout the planning and performance of the audit among other things: ? Identify and assess risks of material misstatement, whether due to fraud error, based on an understanding of the entity its environment, including the entity’s internal control. ?Obtain suffici ent appropriate audit evidence about whether material misstatement exists, through designing and implementing appropriate responses to the assessed risks. From an opinion on the financial statements based on conclusions drawn from the audit evidence obtained. (BSA 200; Para-7) Therefore it is evident that this statement contributes to gap between auditors users of financial statement. Assessment Point-2: The Auditors are responsible for Audit failure, not for audit risk. Audit failure occurs when the auditor issues an erroneous audit opinion as the result of an underlying failure to comply with the requirements of generally accepted auditing standards (GAAS).Audit risk represents the risk that the auditor will conclude that the financial statements are fairly stated and an unqualified opinion can be issued when, in fact, they are materially misstated. Because auditors are able to gather evidence only on a test basis detecting well-concealed frauds can be extremely difficult, there is always some risk that the auditor will not uncover a uncover a material fraud even though the auditor complied with GAAS. (Arens Loebbecke) So, the statement affects audit expectations gap. Assessment Point-3: ‘The auditor is responsible for detecting all the fraud’.BSA 200, â€Å"Objective and General Principles Governing and Audit of Financial Statements,† clearly states the objectives of an audit- The objective of an audit of financial statements is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in accordance with an identified financial reporting framework. An audit conducted in accordance with BSAs is designed to provide reasonable assurance that the financial statements taken as a whole are free from material misstatement, whether caused by fraud or error. (Paragraph 2, BSA 200)Assessment Point-4: â€Å"Audit exists only because of legal bindings†. Section 210 of the Company A ct, 1994 describes- ‘Every company shall, at each annual general meeting appoint an auditor or auditors to hold office from the conclusion of that meeting until the next annual general meeting and shall within seven days of the appointment, give intimation thereof to every auditor so appointed: Provided that, no person can be appointed auditor of any company unless his written consent has been obtained prior to such appointment or re-appointment. ’ The section seeks for statutory audit that must be complied.A twenty four (24) years study of Wanda A. Wallace on â€Å"The economic role of the Audit in free regulated market: A look back A look forward†, revealed that beyond legal requirement, the audit is very much significant. She clarified her argument from three (3) points of view- i) Stewardship hypothesis or Agency theory ii) Information Hypothesis iii) Insurance Hypothesis. Still 77% of the companies audit their financial statements. So it is expected to au dit financial statements beyond legal bindings. Assessment Point-5: ‘The auditor is responsible for soundness in internal control structure of the entity. â€Å"Internal control system† means all the policies and procedures (internal controls) adopted by the management of an entity to assist in achieving management’s objective of ensuring, as far as practicable, the orderly and efficient conduct of its business, including adherence to management policies, the safeguarding of asset , the prevention and detection of fraud and error ,the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information (BSA 400). However, during the course of the audit, the auditor has to assess the entity’s internal control system in order to identify audit risk.Assessment Point-6: ‘The auditor is liable for maintaining accounting records. ’ It has been made clear that it is not the responsibility of the auditor to prepare or to maintain the clients’ accounts. The audit report is also required to contain a paragraph specifying the responsibilities of the auditors-The report should include a statement that the financial statements are the responsibility of the entity’s management and a statement that the responsibility of the auditor is to express an opinion on the financial statements based on the audit (BSA700).Therefore, it affects the expectation gap as from naive point of view the statement seems accurate. Assessment Point-7: ‘The auditor is unbiased and objective. ’ Paragraph 1. 1 of the Code of Professional Ethics (2001) states – A professional accountant should be fair and should not allow prejudice or bias, conflict of interest or influence of others to override objectivity. Therefore, a society should reasonably expect the auditor to be unbiased objectivity. Assessment Point-8: ‘Auditor should provide absolute assurance about the material misst atement in financial statements. The primary objective of audit is to draw a conclusion on the fairness of the Financial Statements. The secondary objective is to detect errors and frauds. (BSA 200) The objective of an audit of financial statements is to enable the auditor to express an opinion as to whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework. The form the audit conclusion takes is that auditors state whether the financial statement give a true and fair view. This is an expression of reasonable assurance. ICAB Manual) BSA 200, specifying the objectives of audit clearly mentions that the auditors only provide reasonable assurance and not absolute assurance regarding the absence of material misstatements. Assessment point 9: ‘The audit report provides assurance about the entity’s future performance. ’ When the auditors express an opinion, they only guarantee the absence of material misstatements and the conformance with accepted accounting practices. However, this is not an assurance regarding the future or current performance of the entity.As stated in BSA 200 Although the auditor’s opinion enhances the credibility of the financial statements, the user cannot assume that the opinion is an assurance as to the future viability of the entity nor the efficiency or effectiveness with which management has conducted the affairs of the entity. Assessment point 10: ‘The auditor agrees with the accounting policies of the entity. ’ As auditors provide opinion regarding true and fair representation of financial statements and therefore issue four types of audit report-(i) Standard unqualified Audit Report (ii) unqualified Audit Report (iii)Adverse Audit Report and (iv) No Report.In first and second cases the auditors agree with the accounting policies of the entity. Assessment point-11: ‘What do you expect from audit report? ’ Na ive (general) investors expect:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Professional under level i and level ii expect :†¦. Findings of the study: Table-1: Responses of naive (general) investors. Assessment pointsReasonableness scoreMeanDeviation 1. An auditor is a watchdog, not a bloodhound. 7. 002. 724. 28 2. Auditor is responsible for audit failure, not for audit risk. 7. 004. 442. 56 3. Auditor is responsible for detecting all fraud. . 004. 122. 88 4. Auditing exists only because of legal binding. 7. 006. 030. 97 5. The auditor is responsible for soundness in internal control7. 005. 361. 64 6. The auditor is liable for maintaining accounting records. 7. 005. 571. 43 7. The auditor is unbiased and objective. 7. 005. 681. 32 8. Auditor should provide absolute assurance about the material misstatements in financial statements. 7. 005. 231. 77 9. The audit report provides assurance about the entity’s future performance. 7. 006. 800. 20 10.The auditor agrees with the account ing policies of the entity. 7. 004. 392. 61 The table shows significant difference in the assessment point no: 1, 2,3,10. It reveals that naive investors seek or do believe auditor makes way for their decisions, i ,e; the general investors rely much on the auditors’ decision not critically analyzing the opinion but from a naive point of view. Table 2: Responses of Students not completing any audit course. Assessment pointsReasonableness scoreMeanDeviation 1. An auditor is a watchdog not a bloodhound. 7. 004. 092. 91 2.Auditor is responsible for audit failure, not for audit risk. 7. 003. 193. 81 3. Auditor is responsible for detecting all fraud. 7. 004. 922. 08 4. Auditing exists only because of legal binding. 7. 003. 773. 33 5. The auditor is responsible for soundness in internal control7. 005. 661. 44 6. The auditor is liable for maintaining accounting records. 7. 006. 570. 43 7. The auditor is unbiased and objective. 7. 003. 923. 08 8. Auditor should provide absolute assura nce about the material misstatements in financial statements. . 002. 414. 59 9. The audit report provides assurance about the entity’s future performance. 7. 004. 492. 51 10. The auditor agrees with the accounting policies of the entity. 7. 004. 042. 96 The table shows that statistically significant differences exist from the view point of students having no audit idea in terms of the assessment point no: 2,3,4,8. It indicates that they expect unreasonably from the auditors regarding their responsibilities of detecting and preventing all frauds and also auditors’ agreement with the entity’s accounting policies.Table 3: Responses of Students completing two (2) courses (Audits III). Assessment pointsReasonableness scoreMeanDeviation 1. An auditor is a watchdog not a bloodhound. 7. 005. 641. 36 2. Auditor is responsible for audit failure, not for audit risk. 7. 004. 982. 02 3. Auditor is responsible for detecting all fraud. 7. 003. 873. 13 4. Auditing exists only b ecause of legal binding. 7. 005. 111. 89 5. The auditor is responsible for soundness in internal control7. 004. 892. 11 6. The auditor is liable for maintaining accounting records. . 006. 010. 99 7. The auditor is unbiased and objective. 7. 004. 922. 08 8. Auditor should provide absolute assurance about the material misstatements in financial statements. 7. 004. 592. 41 9. The audit report provides assurance about the entity’s future performance. 7. 002. 594. 41 10. The auditor agrees with the accounting policies of the entity. 7. 005. 581. 42 Table 3 presents the study results out of students who completed two audit courses. Significant gap was found in the point that audit report provides prediction of future performances of any entity.Again in detecting and preventing all fraud of any entity. In respect of some of the six audit threats, the auditors’ objectivity and neutrality was questioned resulting in some expectation gap. Table 4: Responses of Articled students either level I or level II. Assessment pointsReasonableness scoreMeanDeviation 1. An auditor is a watchdog not a bloodhound. 7. 006. 810. 19 2. Auditor is responsible for audit failure, not for audit risk. 7. 006. 800. 20 3. Auditor is responsible for detecting all fraud. 7. 002. 024. 98 4. Auditing exists only because of legal binding. . 005. 241. 76 5. The auditor is responsible for soundness in internal control7. 005. 911. 09 6. The auditor is liable for maintaining accounting records. 7. 000. 896. 11 7. The auditor is unbiased and objective. 7. 006. 870. 13 8. Auditor should provide absolute assurance about the material misstatements in financial statements. 7. 001. 315. 69 9. The audit report provides assurance about the entity’s future performance. 7. 004. 812. 19 10. The auditor agrees with the accounting policies of the entity. 7. 002. 114. 89The table shows the survey results from professional students who are from level I and level II of professional accountancy. He re the respondents were in line to set a expectation ceiling. Table -5: Showing the deviations between four respondent groups. Assessment pointsDeviation Table-1Deviation Table-2Deviation Table-3Deviation Table-4 1. An auditor is a watchdog not a bloodhound. 4. 282. 911. 360. 19 2. Auditor is responsible for audit failure, not for audit risk. 2. 563. 812. 020. 20 3. Auditor is responsible for detecting all fraud. 2. 882. 083. 134. 98 4. Auditing exists only because of legal binding. . 973. 331. 891. 76 5. The auditor is responsible for soundness in internal control1. 641. 442. 111. 09 6. The auditor is liable for maintaining accounting records. 1. 430. 430. 996. 11 7. The auditor is unbiased and objective. 1. 323. 082. 080. 13 8. Auditor should provide absolute assurance about the material misstatements in financial statements. 1. 774. 592. 415. 69 9. The audit report provides assurance about the entity’s future performance. 0. 202. 514. 412. 19 10. The auditor agrees with th e accounting policies of the entity. 2. 612. 961. 424. 89We the group ‘CRYSTAL HEART’ conducted this study to address whether the perpetual audit expectation gap between the auditors and the users of financial statements is reasonable and how audit knowledge provided by Dept. of Accounting and Information Systems of University of Dhaka affected this gap. The study were mainly concentrated on identifying audit expectation gap in the areas of audit liability of the auditors, audit reliability from the viewpoint of naive (general) investors, students who have no audit knowledge or have taken at least two audit courses and professionals and materiality of audit report to them.The study revealed the presence of audit expectation gap in Bangladesh. In the area of auditors’ responsibilities the naive (general) investors putting the audit knowledge less students second in row expected much more i,e; unreasonably out of the auditors. The professionals’ responses in dicated their responsibilities were defined in different standards. Another area of this study regarding audit reliability showed a wide gap from each of the four (4) respondent groups. As the auditors work on sampling base, and audit risk is subject to well-organized fraud from the past if the management.Also self-interest threat, review threats are still considerable, the gap in the sense of reliability comprised of a big portion. The other sector of the survey- audit report’s materiality revealed that the decision makers out of the society did not depend much on audit report i,e; the majority portion lacks analysis ability who constitute the expectation floor much away from the ceiling set by the audit assurance providers. Although almost significant portion of respondent considered audit report’s materiality contributing to widen the gap.We also found knowledge on auditing helps in some regard but not to the extent that professionals considered. Conclusion: The stu dy attempted on addressing audit expectation gap in Bangladesh. Further, it assessed whether and how much knowledge on the concerned field affects this gap. The students of University of Dhaka under Dept. of Accounting Information Systems and students under ICAB were proxied on behalf of the users, on the presumption that they are most knowledgeable among the society.The findings of the study reveals the existence of expectation gap, some how it is wider in some aspects and predict a much more gap in terms of the people of the society. It also indicated that so far the students go away from their courses they merge gradually with the general people that predict future expectation gap to be wider. So, future studies should concentrate on clarifying the riskiness of audit by identifying clear sectors of audit expectation gap. The Existence of Audit Expectation Gap Essay Example The Existence of Audit Expectation Gap Essay The study investigates the existence of audit expectation gap in relation to society’s unreasonable expectations out of auditing in Bangladesh. This also identified the effects of auditing knowledge on the gap. Among all the classes of our society the accounting graduates are expected to have more knowledge on auditing, who represented 60% proxy of the users.For the purpose of the study, the four groups who are chosen as sample users are: (1) General investors (naive) (2) Students not completing any audit course (3) Students completing two (2) courses (Audits III) (IV) Articled students either level I or level II. The questionnaire comprised of two parts, were sent regarding three aspects: audit liability, audit reliability and materiality of audit opinion. It is found that the respondent who are closer to auditing concepts expect reasonably out of the auditors than the others. The knowledge in the respective fields affected the expectations both positively and negatively.Keyw ords: Expectation gap; audit liability; audit reliability; materiality of audit opinion; audit knowledge. Introduction: â€Å"Auditing is the accumulation and evaluation of evidence about information to determine and report on the degree of correspondence between the information and established criteria: Auditing should be done by a competent and independent third person† (Arens and Loebbecke 1988). The auditor in an audit opinion, certifies that the financial statements represent a true and fair view and are prepared in accordance with GAAP (Generally Accepted Accounting Principle) followed by the industry.The collapse of Lehman Brothers, an American bank with $691 billion in 15th September of 2008 along with subsequent bankruptcy of Washington Mutual Bank [$327. 9 billion] in September 26, 2008; General Motor [$91 billion] and CIT Group [$71 billion] in 2009 put the auditing profession and auditing itself into a severe challenge. Auditors’ prudent person concept or u nderperformance of the auditors and society’s over expectation individually or simultaneously result into audit expectation gap. Objectives of the Study Regarding Perpetual Expectation Gap: Expectation Gap was termed by Liggio in 1974 for the first time.Since then it is the significant differences regarding perceived materiality level between auditors and users of financial statements. The AICPA acknowledged the fact that -‘after considerable study of available evidence’ that ‘such a gap does exist’ (Cohen commission Report, AICPA 1978). From the subsequent definition provided by Arrington et al (1983), Monroe and Woodcliff 1993, the two major component was identified by Porter (1983 and 1993): (i)’reasonableness gap’ and (ii)’performance gap’.Reasonableness gap is the difference between what the society does expect the auditors to achieve and what they can reasonably expect to accomplish. Thus point of unreasonable expect ation comes. Performance gap is the difference between the responsibilities society reasonably expects out of audit and auditors’ performance. These gap widens as the role of audit increases. Now this study proceeds to answer the questions- who are the users feeling their expectations are not met and are those expectations reasonable in Bangladesh perspective? The study further tended to discover the impact of audit knowledge in reducing or increasing the gap.It is evident that more knowledgeable the users the closer gap. Reasonably naive investors are expected to seek more from audit report. Literature Review: From the birth of expectation gap, several studies have been conducted by the concerned specialists around the world. The findings were also centered to perpetual expectation gap however this was wider in some cases. In 1977, Baron et al investigated the differences in perceptions between auditors users of financial statement regarding auditor’s fraud detection duties revealed significant differences.In 1988, low et al conducted a study on audit expectation gap found difference in the area of fraud prevention, guaranteeing the accuracy of the financial statements, effective use of government funds management efficiency. In1992 1993, Humphery et al conducted a study regarding auditors’ role through a series of unstructured interviews, questionnaires mini case studies revealed insignificant differences audit functions but significant differences in regard to role of auditors.In June 2004, Javed Siddiqui Taslima Nasreen conducted a study â€Å"Audit expectation gap in Bangladesh: Perceptual differences between Accounting professionals students† and found a significant audit expectation gap. (Journal of Business Studies, University of Dhaka) In December 2004 the above specialist along with Al-amin conducted another study named â€Å"The Presence of a Reasonableness Gap? Students’ Perceptions Regarding Audit and t he Role of Audit Education in Bangladesh† (Journal of Business Studies,Vol. xxv, No. 2, December2004) and concluded somehow differently like –Knowledgeable students expected more unreasonably out of auditing.Methodology of the study: For the purpose of the study, the questionnaire method was applied . The questionnaire method despite its inherent shortcomings chosen appropriate for this study. Here four groups were selected. 20 questionnaires were sent to investors who are in general naive. Similar questionnaires were sent to 10 professionals who are under knowledge or Application level, to 10 students of Dept. of Accounting Information Systems (AIS), University of Dhaka (DU) who have just completed two Audit courses and another 10 questionnaires were sent to students who have no idea under same discipline.The issue of perceptions regarding audit is about measuring attitudes. For the purpose of this study, the seven-point Likert scale was used. Prior studies have used t he Likert scale for measuring the audit expectation gap in different countries (for example Schelluch 1996; Best et al 2001 etc. ) The response scale used for this study was- 1. Strongly agree 2. Moderately agree 3. Slightly agree 4. No opinion 5. Slightly disagree 6. Moderately disagree 7. Strongly disagree Strongly agree Strongly disagree 1. An auditor is a watchdog, not a bloodhound. 1234567 2.Auditor is responsible for audit failure, not for audit risk. 1234567 3. Auditor is responsible for detecting all fraud. 1234567 4. Auditing exists only because of legal binding. 1234567 5. The auditor is responsible for soundness in internal control1234567 6. The auditor is liable for maintaining accounting records. 1234567 7. The auditor is unbiased and objective. 1234567 8. Auditor should provide absolute assurance about the material misstatements in financial statements. 1234567 9. The audit report provides assurance about the entity’s future performance. 234567 10. The auditor a grees with the accounting policies of the entity. 1234567 Analysis and Findings: Survey Analysis: Assessment Point-1: â€Å"The auditor is a watchdog, not a bloodhound† ‘Watchdog means a person or a group of people whose job is to check that companies are not doing anything illegal or ignoring people’s rights’ (www. oup. com) Bloodhound means person or group of people who find any inconsistency regarding the concerned areas. The BSAs contain objectives, requirements application and other explanatory material that are designed to support the auditor in obtaining reasonable assurance.The BSAs require that the auditor exercise professional judgment and maintain professional skepticism throughout the planning and performance of the audit among other things: ? Identify and assess risks of material misstatement, whether due to fraud error, based on an understanding of the entity its environment, including the entity’s internal control. ?Obtain suffici ent appropriate audit evidence about whether material misstatement exists, through designing and implementing appropriate responses to the assessed risks. From an opinion on the financial statements based on conclusions drawn from the audit evidence obtained. (BSA 200; Para-7) Therefore it is evident that this statement contributes to gap between auditors users of financial statement. Assessment Point-2: The Auditors are responsible for Audit failure, not for audit risk. Audit failure occurs when the auditor issues an erroneous audit opinion as the result of an underlying failure to comply with the requirements of generally accepted auditing standards (GAAS).Audit risk represents the risk that the auditor will conclude that the financial statements are fairly stated and an unqualified opinion can be issued when, in fact, they are materially misstated. Because auditors are able to gather evidence only on a test basis detecting well-concealed frauds can be extremely difficult, there is always some risk that the auditor will not uncover a uncover a material fraud even though the auditor complied with GAAS. (Arens Loebbecke) So, the statement affects audit expectations gap. Assessment Point-3: ‘The auditor is responsible for detecting all the fraud’.BSA 200, â€Å"Objective and General Principles Governing and Audit of Financial Statements,† clearly states the objectives of an audit- The objective of an audit of financial statements is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in accordance with an identified financial reporting framework. An audit conducted in accordance with BSAs is designed to provide reasonable assurance that the financial statements taken as a whole are free from material misstatement, whether caused by fraud or error. (Paragraph 2, BSA 200)Assessment Point-4: â€Å"Audit exists only because of legal bindings†. Section 210 of the Company A ct, 1994 describes- ‘Every company shall, at each annual general meeting appoint an auditor or auditors to hold office from the conclusion of that meeting until the next annual general meeting and shall within seven days of the appointment, give intimation thereof to every auditor so appointed: Provided that, no person can be appointed auditor of any company unless his written consent has been obtained prior to such appointment or re-appointment. ’ The section seeks for statutory audit that must be complied.A twenty four (24) years study of Wanda A. Wallace on â€Å"The economic role of the Audit in free regulated market: A look back A look forward†, revealed that beyond legal requirement, the audit is very much significant. She clarified her argument from three (3) points of view- i) Stewardship hypothesis or Agency theory ii) Information Hypothesis iii) Insurance Hypothesis. Still 77% of the companies audit their financial statements. So it is expected to au dit financial statements beyond legal bindings. Assessment Point-5: ‘The auditor is responsible for soundness in internal control structure of the entity. â€Å"Internal control system† means all the policies and procedures (internal controls) adopted by the management of an entity to assist in achieving management’s objective of ensuring, as far as practicable, the orderly and efficient conduct of its business, including adherence to management policies, the safeguarding of asset , the prevention and detection of fraud and error ,the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information (BSA 400). However, during the course of the audit, the auditor has to assess the entity’s internal control system in order to identify audit risk.Assessment Point-6: ‘The auditor is liable for maintaining accounting records. ’ It has been made clear that it is not the responsibility of the auditor to prepare or to maintain the clients’ accounts. The audit report is also required to contain a paragraph specifying the responsibilities of the auditors-The report should include a statement that the financial statements are the responsibility of the entity’s management and a statement that the responsibility of the auditor is to express an opinion on the financial statements based on the audit (BSA700).Therefore, it affects the expectation gap as from naive point of view the statement seems accurate. Assessment Point-7: ‘The auditor is unbiased and objective. ’ Paragraph 1. 1 of the Code of Professional Ethics (2001) states – A professional accountant should be fair and should not allow prejudice or bias, conflict of interest or influence of others to override objectivity. Therefore, a society should reasonably expect the auditor to be unbiased objectivity. Assessment Point-8: ‘Auditor should provide absolute assurance about the material misst atement in financial statements. The primary objective of audit is to draw a conclusion on the fairness of the Financial Statements. The secondary objective is to detect errors and frauds. (BSA 200) The objective of an audit of financial statements is to enable the auditor to express an opinion as to whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework. The form the audit conclusion takes is that auditors state whether the financial statement give a true and fair view. This is an expression of reasonable assurance. ICAB Manual) BSA 200, specifying the objectives of audit clearly mentions that the auditors only provide reasonable assurance and not absolute assurance regarding the absence of material misstatements. Assessment point 9: ‘The audit report provides assurance about the entity’s future performance. ’ When the auditors express an opinion, they only guarantee the absence of material misstatements and the conformance with accepted accounting practices. However, this is not an assurance regarding the future or current performance of the entity.As stated in BSA 200 Although the auditor’s opinion enhances the credibility of the financial statements, the user cannot assume that the opinion is an assurance as to the future viability of the entity nor the efficiency or effectiveness with which management has conducted the affairs of the entity. Assessment point 10: ‘The auditor agrees with the accounting policies of the entity. ’ As auditors provide opinion regarding true and fair representation of financial statements and therefore issue four types of audit report-(i) Standard unqualified Audit Report (ii) unqualified Audit Report (iii)Adverse Audit Report and (iv) No Report.In first and second cases the auditors agree with the accounting policies of the entity. Assessment point-11: ‘What do you expect from audit report? ’ Na ive (general) investors expect:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Professional under level i and level ii expect :†¦. Findings of the study: Table-1: Responses of naive (general) investors. Assessment pointsReasonableness scoreMeanDeviation 1. An auditor is a watchdog, not a bloodhound. 7. 002. 724. 28 2. Auditor is responsible for audit failure, not for audit risk. 7. 004. 442. 56 3. Auditor is responsible for detecting all fraud. . 004. 122. 88 4. Auditing exists only because of legal binding. 7. 006. 030. 97 5. The auditor is responsible for soundness in internal control7. 005. 361. 64 6. The auditor is liable for maintaining accounting records. 7. 005. 571. 43 7. The auditor is unbiased and objective. 7. 005. 681. 32 8. Auditor should provide absolute assurance about the material misstatements in financial statements. 7. 005. 231. 77 9. The audit report provides assurance about the entity’s future performance. 7. 006. 800. 20 10.The auditor agrees with the account ing policies of the entity. 7. 004. 392. 61 The table shows significant difference in the assessment point no: 1, 2,3,10. It reveals that naive investors seek or do believe auditor makes way for their decisions, i ,e; the general investors rely much on the auditors’ decision not critically analyzing the opinion but from a naive point of view. Table 2: Responses of Students not completing any audit course. Assessment pointsReasonableness scoreMeanDeviation 1. An auditor is a watchdog not a bloodhound. 7. 004. 092. 91 2.Auditor is responsible for audit failure, not for audit risk. 7. 003. 193. 81 3. Auditor is responsible for detecting all fraud. 7. 004. 922. 08 4. Auditing exists only because of legal binding. 7. 003. 773. 33 5. The auditor is responsible for soundness in internal control7. 005. 661. 44 6. The auditor is liable for maintaining accounting records. 7. 006. 570. 43 7. The auditor is unbiased and objective. 7. 003. 923. 08 8. Auditor should provide absolute assura nce about the material misstatements in financial statements. . 002. 414. 59 9. The audit report provides assurance about the entity’s future performance. 7. 004. 492. 51 10. The auditor agrees with the accounting policies of the entity. 7. 004. 042. 96 The table shows that statistically significant differences exist from the view point of students having no audit idea in terms of the assessment point no: 2,3,4,8. It indicates that they expect unreasonably from the auditors regarding their responsibilities of detecting and preventing all frauds and also auditors’ agreement with the entity’s accounting policies.Table 3: Responses of Students completing two (2) courses (Audits III). Assessment pointsReasonableness scoreMeanDeviation 1. An auditor is a watchdog not a bloodhound. 7. 005. 641. 36 2. Auditor is responsible for audit failure, not for audit risk. 7. 004. 982. 02 3. Auditor is responsible for detecting all fraud. 7. 003. 873. 13 4. Auditing exists only b ecause of legal binding. 7. 005. 111. 89 5. The auditor is responsible for soundness in internal control7. 004. 892. 11 6. The auditor is liable for maintaining accounting records. . 006. 010. 99 7. The auditor is unbiased and objective. 7. 004. 922. 08 8. Auditor should provide absolute assurance about the material misstatements in financial statements. 7. 004. 592. 41 9. The audit report provides assurance about the entity’s future performance. 7. 002. 594. 41 10. The auditor agrees with the accounting policies of the entity. 7. 005. 581. 42 Table 3 presents the study results out of students who completed two audit courses. Significant gap was found in the point that audit report provides prediction of future performances of any entity.Again in detecting and preventing all fraud of any entity. In respect of some of the six audit threats, the auditors’ objectivity and neutrality was questioned resulting in some expectation gap. Table 4: Responses of Articled students either level I or level II. Assessment pointsReasonableness scoreMeanDeviation 1. An auditor is a watchdog not a bloodhound. 7. 006. 810. 19 2. Auditor is responsible for audit failure, not for audit risk. 7. 006. 800. 20 3. Auditor is responsible for detecting all fraud. 7. 002. 024. 98 4. Auditing exists only because of legal binding. . 005. 241. 76 5. The auditor is responsible for soundness in internal control7. 005. 911. 09 6. The auditor is liable for maintaining accounting records. 7. 000. 896. 11 7. The auditor is unbiased and objective. 7. 006. 870. 13 8. Auditor should provide absolute assurance about the material misstatements in financial statements. 7. 001. 315. 69 9. The audit report provides assurance about the entity’s future performance. 7. 004. 812. 19 10. The auditor agrees with the accounting policies of the entity. 7. 002. 114. 89The table shows the survey results from professional students who are from level I and level II of professional accountancy. He re the respondents were in line to set a expectation ceiling. Table -5: Showing the deviations between four respondent groups. Assessment pointsDeviation Table-1Deviation Table-2Deviation Table-3Deviation Table-4 1. An auditor is a watchdog not a bloodhound. 4. 282. 911. 360. 19 2. Auditor is responsible for audit failure, not for audit risk. 2. 563. 812. 020. 20 3. Auditor is responsible for detecting all fraud. 2. 882. 083. 134. 98 4. Auditing exists only because of legal binding. . 973. 331. 891. 76 5. The auditor is responsible for soundness in internal control1. 641. 442. 111. 09 6. The auditor is liable for maintaining accounting records. 1. 430. 430. 996. 11 7. The auditor is unbiased and objective. 1. 323. 082. 080. 13 8. Auditor should provide absolute assurance about the material misstatements in financial statements. 1. 774. 592. 415. 69 9. The audit report provides assurance about the entity’s future performance. 0. 202. 514. 412. 19 10. The auditor agrees with th e accounting policies of the entity. 2. 612. 961. 424. 89We the group ‘CRYSTAL HEART’ conducted this study to address whether the perpetual audit expectation gap between the auditors and the users of financial statements is reasonable and how audit knowledge provided by Dept. of Accounting and Information Systems of University of Dhaka affected this gap. The study were mainly concentrated on identifying audit expectation gap in the areas of audit liability of the auditors, audit reliability from the viewpoint of naive (general) investors, students who have no audit knowledge or have taken at least two audit courses and professionals and materiality of audit report to them.The study revealed the presence of audit expectation gap in Bangladesh. In the area of auditors’ responsibilities the naive (general) investors putting the audit knowledge less students second in row expected much more i,e; unreasonably out of the auditors. The professionals’ responses in dicated their responsibilities were defined in different standards. Another area of this study regarding audit reliability showed a wide gap from each of the four (4) respondent groups. As the auditors work on sampling base, and audit risk is subject to well-organized fraud from the past if the management.Also self-interest threat, review threats are still considerable, the gap in the sense of reliability comprised of a big portion. The other sector of the survey- audit report’s materiality revealed that the decision makers out of the society did not depend much on audit report i,e; the majority portion lacks analysis ability who constitute the expectation floor much away from the ceiling set by the audit assurance providers. Although almost significant portion of respondent considered audit report’s materiality contributing to widen the gap.We also found knowledge on auditing helps in some regard but not to the extent that professionals considered. Conclusion: The stu dy attempted on addressing audit expectation gap in Bangladesh. Further, it assessed whether and how much knowledge on the concerned field affects this gap. The students of University of Dhaka under Dept. of Accounting Information Systems and students under ICAB were proxied on behalf of the users, on the presumption that they are most knowledgeable among the society.The findings of the study reveals the existence of expectation gap, some how it is wider in some aspects and predict a much more gap in terms of the people of the society. It also indicated that so far the students go away from their courses they merge gradually with the general people that predict future expectation gap to be wider. So, future studies should concentrate on clarifying the riskiness of audit by identifying clear sectors of audit expectation gap.

High concern for Self and Others Essays

High concern for Self and Others Essays High concern for Self and Others Essay High concern for Self and Others Essay That is to say this strategy encourages people to cooperate with each other. Each party confronts with conflict and exchanges relevant information to find out the best solution for the problem. For example, in some cases both parties have different pieces of information so they mention to different data. It results in confusing and misinterpreting. By having more clear conversation and understanding on both sides may lessen suspects. Therefore, a leader may use the integrating style to dissolve conflict while sustain team work. Obliging: Low concern for Self and High Concern for Others In case of unimportant issue, obliging person try to reduce conflict by accepting the concern of the other to keep relationship. For example, in a sales department Julie found herself in conflict with Mark by taking his customer unintentionally. In fact it was the customer who desired to buy a product with her. However, Julie considered that this was not a big customer account so she decided to return the customer and keep relation with Mark. This means that for long term benefits Mary concerned prioritizing the relationship with her colleague rather than keeping the customer. Dominating: High Concern for Self and Low Concern for Others Hofstede stated that for this style each party tries to defend on what they believe and competes with the other. Thus, it is possible to end up with more conflicts if one of the two parties has a strong self-center attitude and does not willingly accept the result of judgment. Under this circumstance, it may destroy co-operation in a group. It seems that most people, who respond by this style, want to be a winner. So it hardly creates friendly atmosphere between members of the group. Avoiding: Low Concern for Self and Others This approach is inappropriate for both interpersonal conflict and group conflict since the issue which causes conflict is not considered but postponed. Hofstede said that This style has been associated with ignoring, withdrawal, sidestepping or see no evil, hear no evil, speak no evil situations. For this reason it still exists and can be reoccurred at any time in the future. Compromising: Intermediate in Concern for Self and Others This solution creates a win-win situation if two parties are happy to lessen their requirements by negotiating to the extent that satisfies both sides. So in a condition that people incline to compromise, the leaders have to be capable of negotiating to handle with it. From the theory of Hofstede, it suggests that leaders should employ integrating and compromising methods to deal with group conflict in order to encourage group work. When leaders come to a conclusion that conflict can be managed by compromising, negotiation may be need and the Mintzbergs decision making model may be helpful to reach an effective conflict resolution.

Organizational Management and Operations Research Paper

Organizational Management and Operations - Research Paper Example For instance, State bureaus of investigation is found to every Attorney’s general office of each state. Furthermore, State Governments have their own enforcement division like capitol police and Campus police. At the local organizational level of policing, there are county police or Sheriff’s Departments. County police have countywide authority or control which normally exist in metropolitan counties. County police have three categories which could be full service, limited service and restricted service. The difference in these three different services is the associated coverage control of their prevailing areas of responsibilities (Palmiotto & Unnithan, 2010, p.66). For instance, the full service country police tend to have control of the entire county with full spectrum of police services. The limited service couty police on the other hand may only have to provide their service to some areas under the existence of certain contracts. The restricted service country poli ce normally provide service as security police to facilities and parks of a county. However, in some local areas in the US, there are no county police, but instead the Sheriff’s offices, which both act as law enforcement agency and sheriff and country police at the same time. Just like county police, Sheriff’s offices could be categorized as full service, limited service and restricted service (Dempsey and Forst, 2011, p.62). Full service Sheriff’s offices have to cover all traditional law-enforcement functions like countywide patrol and initiate investigations in all municipal boundaries. Limited service of Sheriff’s offices on the other hand is linked with security police duties on county properties, so they have to perform some traditional law-enforcement duties. The restricted service Sheriff’s offices on the other hand are designed to provide basic court related functions like keeping the country jail, prisoners transportation, courthouse secu rity aid and other related functions. In addition, at the local organizational level, there are also municipa police in which they usually are identified as metropolitan police. In most cities in the US and larger towns, there are police departments that usually incur significant larger departments together with a considerable amount of budgets, resources and responsibilities. Analysis We are now ready to analyze the similarities and differences of the organizational, management, administration and operational functions of the above-stated organizational levels of policing. Common to all of the above policing organizational levels is their general basic function which is the law enforcement. This could be generally categorized as maintaining order, enforcing the law and providing services to the community (Cole & Smith, 2009, p.169). The Federal police have remarkable functions linked with law enforcement at the federal level. State bureaus of investigation, capitol police and Campu s police at the state level are designed to intiate a specific function which is to enforce the law within the State. Sheriff’s offices and county police on the other hand are obliged to enforce the law at varying categories of services at the county or municipal level. In other words, no one could contest the fact that these organizational le

Financial analysis of Sainsbury plc and Tesco Plc Essay

Financial analysis of Sainsbury plc and Tesco Plc - Essay Example The paper will highlight the Key features and the current strategies directed by the companies followed by the Calculation of financial ratios for each company, and Compare with earlier years, that allow to judge the financial performance and position for the company, and to interpret if the company's assessment of its own performance as shown in the Financial Highlights and Chairman's Statement a good representation. Then comparison of the two companies together, followed by comparison with the industrial average. The basic structure of this research essay will be divided to five sections: Firstly: Brief definitions of the company’s activities and their major business, when they operate as well as the current strategies directed by the company and also why choose these two firms; Secondly: The calculation of the financial ratios; Thirdly: Financial Analysis; Fourthly: the limitations of ratios; Finally summary and conclusions. This research essay will also make a research int o thedifferent type of stock price prediction models and will select the time series model to predict the stock price for two years and then compare them with the actual stock price of the above companies and present the reasearch findings and will make a detailed analysis of the same.A intercompany analysis between Tesco and Sainsbury will be carried over and also a comparison with the industry’s average will also carried over to know how these companies are performing as compared to the industry’s average. 1. Short Narration of the Activities of the Companies Sainsbury Plc Sainsbury being a supermarket chain, J. Sainsbury Plc is a renowned retailer operating from London and also ventured into construction activities, real estate and owning a commercial bank in UK. Established in the year 1869, Sainsbury is having around 337 convenience stores and 557 Supermarkets, and Sainsbury owns a floor space ranging from 15,000 to in excess of 40,000 square feet and has supermar ket branches throughout the UK and in the UK and about forty percent of these products are own brands of Sainsbury. Salisbury is having more than 5000 own brands in health and food sector. Apart from the grocery and food products, the majority of the Sainsbury stores offers fish and meat counters, a delicatessen, bread baked on the premises of Sainsbury, coffee shops, pharmacies, gas stations and restaurants. By sales value, Salisbury is the largest UK retailer of Fairtrade products as it sourced ethically and responsibly around ?280 million in the year 2011 alone. Under the brand names of Jackson’s and Bells Stores, Sainsbury manages its convenience stores and also offers a variety of the local brand mainly through the Shell franchise. Sainsbury also markets its own brands along with specialty and ethnic food products like Indian, American, Asian, Italian, low-priced products and organic products. Sainsbury also added house wares and clothing to its retail list of products. Sainsbury also owns a bank in collaboration with the Bank of Scotland, which was the first-ever bank owned by a supermarket in the UK, and its clients numbers have surpassed more than two million numbers as of date. With regard to land associated with the Sainsbury Supermarkets, it is being managed by Sainsbury Property Company and JS Developments, a Sainsbury’s real estate development company. State the different sectors in which saninsbury deals, % revenue In 2006, Sainsbury acquired 4 stores from Somerfield. (Plunkett 2008). As of 2011, Sainsbury is having in a week around 21 million customer transactions and have a market share around 16% in the UK. Sainsbury is offering employment to more than 150,000 individuals. During the year 2011, Sainsbury opened extra 47 convinient stores, and it had

Entrepreneurial Risk Traits and the Ability to Manage Uncertainties Essay

Entrepreneurial Risk Traits and the Ability to Manage Uncertainties - Essay Example As the owner of the business, an entrepreneur is also perceived as a risk taker. This is because all the decisions pertaining to the success or failure of the business lies with him. Despite this revelation, the Global Entrepreneurship Monitor in 2006 reported that many people in the UK are risk averse, with more than two-thirds of respondents revealing so. As many of businesses fail, such fears are well placed. Many businesses fail due to a number of reasons among them being lack of finance, poor infrastructure, shortage of skills and complexity of regulations or the red tape among others (Storey 1994, p.5-9). Nevertheless, the ability to evaluate the uncertainties and risks that are integral part of all businesses decisions is a vital element of successful entrepreneurship. For this to be accomplished, entrepreneurs must do their research properly to ensure that all reasonable steps are taken to mitigate any potential failure. This is because, the outcome of a successful risk takin g result into a profitable venture (Timmons 1999, p.15-22). The objective of this paper is to explore how the entrepreneurial trait of risk taking and the ability to cope with uncertainty may impact the operating environment of a small business. ... Because of these risks and uncertainties, small business entrepreneurs live in fear of failing to accomplish their goals of business success. It is, therefore, imperative that small business entrepreneurs must be vigilant to ensure that they do not plunge into the ‘pit holes’ of the business. Business expansion for instance comes with many challenges most of which comes as a result of lack of knowledge of new locations, and lack of the ability of manage large strategic, structural, technological and the human resource and the constrain of monetary base as well according to Rae (2007, p.10). Expanding the size of the business implies that more employees are required; more capital is also needed as well as the challenges of coping under the new business environment. Some of the risks and uncertainties that an entrepreneur must be aware of and device proper ways to manage them for the success of the business include: Financial constraints Entrepreneurs are definitely faced by the risk of inadequate finance especially when trying to expand their business venture. This is because no single business can be expanded without the need of more capital investment. Since the business is small, it may not be at a position to provide the more capital outlay required to meet all the business needs. As such, an entrepreneur must be at a position to take all the risks necessary to ensure that the probable financial needs are available. For instance, an entrepreneur should take the risk by borrowing the required finance from financial institutions. The other strategy that may be employed by the entrepreneur includes seeking a merger with other firms to help pull resources together for the success of the business. An entrepreneur with such a risk-taking trait will easily come

Wireless Sensor Chip to Protect Wildlife

Wireless Sensor Chip to Protect Wildlife Name : Boyu Yao Summary The basic motivation of implanting the wireless sensor on different animals is that they are illegally being poached killed and smuggled or traded for the medicinal purposes while the authorities have not been completely able to stop this issues. The wireless sensor networks would be developed to cater this issue in which sensors would be implanted in animal that would give the information to the administrators about the animal being attacked. The information would be collected through camera for visual, micro phone for audio, GPs for location and heart rate sensor for getting an idea about the medical or biological symptoms of the animals whose heart rate increases as it senses danger. The information would be sent to the mobile phones connected to the sensor. This can be a really effective and faster way to overcome the issue and also the find out the real culprit behind this illegal poaching of the animals. Points for Extension Information must be given about the total battery life of the sensor and complete device that would be implanted along with the type of battery being used to make sure it is safe and sound as animals go into water. Detailed ways and mechanism of implanting the sensors into the bodies of the animals must be provided as the picture showed the sensor just placed on the head of the animal. Discussion about placing sensor at right place must be provided The network protocols that would be sued for the wireless communication should be illustrated in more detail. Interesting points The idea of getting the information about the health of the animals through measuring the heart was a great idea of getting the physical information The idea for future development of using the solar energy for battery charging along with size reduction is a good way for making device efficient. The connection and information sent to the monitors mobile is the fastest and most interesting way of communication. Student 2 Name : Shashank Student number: N9537112 Topic: Proximity sensors Summary: This presentation gave a comprehensive overview of the proximity sensors starting with the determination of difference between the capacitive and inductive sensors. The sensors function by measuring the changes in the capacity whenever an object comes near to the sensor while the size and the distance of the object hugely determines the changes in the capacitive. The advantage of the sensor is that it does not need to be in physical contact while the low cost and applications over the wide range of the appliances and electronic devices is another fact. The sensor the sensor works by emitting the electromagnetic fields and then measuring the strength of the signals getting back. The changes in capacitance is measured as sensor acts as the one plate of it and the object acts as the other plate of the capacitance.   The capacity of the sensor as just mentioned is closely related to the size and distances. Point needing Extension There must be more information delivered about the mechanism of installing these sensor in different devices More information should be given about the capacitive sensing abilities of these sensors with respect to a specific location. The working of these proximity sensors is not described in detail as well as the actual or real form or picture of the device was not included. Interesting points The fact that the power consumption of these sensors is very low makes them suitable for application in mobile devices having no direct power contact. The sensors work perfectly without the human intervention in the form of physical contact which makes its convenient and safer for use. It can be applied in a variety of device with the various functions like in car parking to avoid collisions and mobile phones to avoid wrong calls and detect touch.

Sexism in Film Essay example -- Film

In society, women are often perceived as the weaker sex, both physically and mentally. In modern times women have leveled the playing field between men and women, and feminism is a highly discussed topic, but for years, women faced discrimination and prejudice both in life and in the workplace, due to their sex. This way of thinking flooded into the world of film. In their works, the authors of each of the various sources address the limitations and liberations of women both on and off the screen in nineteenth century Film and Cinema. Not every source is completely filled with information related to the research topic, but they do cover and analyze many of the same points from different perspectives. Prominent points addressed in each source include the domination of the male voice in cinema, the presentation of women on screen, and society’s influence on the status of women roles in film. A common concept in a lot of the sources is that men dominate the film industry both onscreen and off. According to the article, Why There are no Women in the Movies, â€Å"men make the movies and the relationships and roles are molded according to the male viewpoint† (Yates 226). This, in relation to the other sources, is a very valid fact. Coinciding with his point, Hollywood Film Critic, Richard Corliss states in his TIME Magazine article, Calling Their Own Shots: Women Directors Make it in Hollywood, that â€Å"the guys ran things—as producers, directors, bosses†¦Ã¢â‚¬  Men were behind the scenes, they decided what scripts got chosen to be made into films. They were the heads of production companies and producers of the films. Whatever they said†¦went. Men were not only in charge of what was going on onscreen, but they monopolized off-screen positions as we... ...e. â€Å"The Allure of the Predatory Woman in Fatal Attraction and Other Current American Movies.† Journal of Popular Culture 26.3 (Winter 1992): 47-57. Academic Search Complete. Web. 13 March 2015. Mahar, Karen Ward. Women Filmmakers in Early Hollywood. Baltimore: Johns Hopkins UP, 2006. Print Pomerance, Murray, ed. Ladies and Gentlemen, Boys and Girls: Gender in Film at the End of the Twentieth Century. Albany: State University of New York Press, 2001. Print. Quart, Barbara Koenig. Women Directors: The Emergence of a New Cinema. New York: Praeger, 1988. Print.. Segar, Linda. When Women Call The Shots: The Developing Power and Influence of Women in Television and Film. New York: Henry Holt and Company, 1996. Print. Yates, John. â€Å"Why There are no Women in the Movies.† Journal of Popular Film 4.3 (1975): 223-234. America: History & Life. Web. 13 March 2015.

Selling to Cynics

Summary – Shock advertising Generation X is society’s trendiest group, it is realistic and under the age of thirty. Advertisers have recently discovered this segment and are willing to sell directly to them now, but also would like to start a relationship that goes beyond this generation. The problem is that Generation X doesn’t trust advertisers, they are aware of the fact that there are companies willing to sell them products they don’t want. These companies are desperate to reach this new segment with the help of advertisement agencies who speak â€Å"their language†.Tim Delaney made the advertisement for Pepe jeans, which is an advertisement with the darker values of generation X, as it shows disturbing images and alienated teenagers. Pepe Jeans wants to dissociate itself from the corporate culture. They think their advertisement did not offend their targeted audience, as the idea of how negative or dark these thoughts are, are in the eye (or mi nd) of the beholder. Jiro Ejaife from â€Å"don’t tell it magazine† wanted an advertisement based on the â€Å"amusing† violence in cult movies. Their advertisement shows a teenager being shot repeatedly.He made the advertisement intentionally over the top, and thinks the question of morality should lie with the church, family and schools. The test viewing shows that teenagers disagree about the violence used in this advertisement. Some think the advertisement is unacceptable, others are not offended, as nowadays there is much more violence in movies. The advertisement industry is disputing the use of â€Å"Shock advertising†, and the moral cause of this new tactic, as advertising doesn’t only sell a product, but also sells behavior and attitude with the same efficiency.Adrian Holmes of Howard-Spink advertising is one of the acceptable advertisers, he thinks it is in the moral interest of the country and the commercial interest of the industry that these â€Å"shock advertisers† should be brought into line. These types of advertisements give ammunition to the anti-advertising lobby, which will use it against all advertisers and curtail whatever creator freedom they still have. Christopher Ogden of the advertising standards authority relies on the self regulation system where advertisers themselves behave responsibly. The authority itself however would act hard if the advertisers use anti-social advertisements.The idea of Professor Malcolm Mc Donald of the Cranfield School of management is that advertisers who chose for short term sensational game always lose in the long run, as there are not only the shareholders to please but also other stakeholders like employees, pressure groups, etc. Finally Geoffrey Ellerton of midland bank thinks the more you target and advertisement very specifically for a particular market niche like the teenage audience, the greater the risk that you give any other audience the idea that the o rganization is not for them but for a younger aged group.Midland bank uses an advertisement which shows an adolescent person leaving his parents to live on his own. Test viewing has shown that teenagers are indifferent to this kind of advertisement as it did not make an impact on them. We can conclude that the advertisement business is caught between two worlds, the moralists and the mainstream on the one hand and a young market with entirely different ethical ideas on the other hand. Generation X might just turn their backs to the advertisers.

Hemp essays

Hemp essays Throughout American history our country has come to rely on many different natural resources. With technology and the population increasing, the number of fossil fuel reserves and natural forests are going down. What America needs is a renewable source of fuels and fibers that will meet the growing needs of the future, but will not damage our environment. One of the most promising sources of fiber, fuel, and natural oil is hemp. Hemp, also known as Cannabis Sativa L, has been used in our country since the early 17th century (Schreiber 160). Although hemp is considered an illegal drug, many people forget that it is a part of our countrys history. Despite its negative connotations, hemp has the potential to revolutionize the paper, cotton, and fuel industries. Its long fibers can be weaved with others to make stronger clothing, while its pulp can be used to make stronger paper. It has been known as an important resource for thousands of years, and in the future, perhaps it will be agai n. Hemp is a plant that originated in Asia several thousand years ago (Schreiber 7). Its genus is called Cannabis, to which there are three sub species, Sativa, Indica, and Ruderalis. Hemp is of the sativa family, which normally grows to about 4 meters and has a hollow, fibrous stem. When grown industrially, the male plant is used primarily because it grows tall and spindly, producing the most fiber, and allowing the farmer to plant more in a smaller area. The female plant is much shorter, and produces buds. Hemp is often confused with another plant of the same genus, Marijuana. Because of this confusion it is imperative that the differences between these two plants are understood. Although very similar, Marijuana is not the same plant as hemp (Williams 2). Marijuana, also known as pot, hashish, or weed, is grown for its buds and leaves, to produce psychoactive effects when introduced into the human body. Marijuana has high levels of THC (Delta-9 ...

The Power Above essays

The Power Above essays In the constant search for more efficient sources of energy, solar power surely shows much promise. The sun will last longer than any humans will, therefore this is one of the only renewable natural resources of energy that has been found. Solar cells, or photovoltaics, convert light energy into electrical energy. Although most of the energy is not converted to electricity, they run at a low enough cost that there mechanical efficiency basically becomes irrelevant. Photovoltaics offer some of the best opportunities currently available in the energy production field, at least weather-permitting. The remarkably high reliability of photovoltaic cells helps to keep them a viable option for alternative energy sources, if not the most viable. These cells originally were created for outer space, where repair of equipment is extremely costly, if even possible at all. Photovoltaics can operate though for years at a time with little or no maintenance whatsoever. In fact, solar cells remain the most often used power source in satellites for that very reason. Of course, the best part about sunlight is something every American, and probably every person in the world, likes very much. Sunlight is free, and as far as the world is concerned, unlimited! Due to the low maintenance and lack of moving parts on the photovoltaics, they are ideal for places where maintenance is costly or just not feasible for any reason. Therefore, solar power comes at a nominal cost to the consumer and to businesses. With global warming on the rise, the environment has become a major concern of not only America, but of nearly every country in the world. Fossil fuel emissions have damaged the atmosphere for decades, creating this greenhouse effect. Nuclear power presents the constant threat of nuclear meltdown. Surely few advanced countries would be willing to put all their power resources into another Chernobyl incident. ...

W1CapA organizations business strategy Essay Example | Topics and Well Written Essays - 750 words

W1CapA organizations business strategy - Essay Example 1). The current discourse aims to present a description and evaluation of an organization’s business strategy. As such, to comply with this objective, the business strategy of DHL for 2015 was explicitly noted as involving â€Å"three core objectives: we want to be the provider of choice for customers, an attractive investment for shareholders and the employer of choice for our staff. These goals are all closely related: satisfied employees lead to satisfied customers, on whose loyalty the economic success of the company rests† (DHL, 2015, p. 1). This business strategy was reportedly formulated in 2009. As such, the strategy would be described in greater depth and would be evaluated in terms of the ability of the organization to achieve the identified goals. According to Lipsett (2003), â€Å"the strategic management process consists of three stages: strategy formulation, strategy implementation, and strategy evaluation† (p. 15). Under strategy formulation, the definition of the mission and vision statement of the organization is explicitly communicated. DHL’s mission and vision statements are as follows: As such, one of the effective indicators of the organization’s effectiveness in achieving its explicitly defined goals is through evaluation of its financial results, market share, and share price information. The following financial summary highlights the significant changes that DHL has achieved from 2009 to 2015 in â‚ ¬M: In retrospect, using selected financial indicators, it is evident that DHL has significantly exhibited robust professional growth from 2009, when the business strategy has been formulated. Through effective implementation of effectively designed organizational strategies, the identified goals are deemed to be successfully achieved. However, one strongly believes that the evaluation of DHL’s business strategy should also be undertaken in

Bioethics Essay Example | Topics and Well Written Essays - 2500 words

Bioethics - Essay Example We have to listen to all sides in order to get a wider idea of the complexity of this debate. But we also have to be firm in our position once we have reached a sound and factual conclusion. That way we avoid any kind of hypocrisy, and there will not be any double talk in our grasp of the issues at hand. Scientists, lawyers, policymakers, theologians, ethicists, and lay people have something to say about this matter. Many have spoken their minds raising up high their heated arguments. All of them have the right to give their opinions, and we will listen to some of them as we move forward up to our concluding words. We have to keep in mind the fact that at the end God is the centre of the debate. According to the position that we might defend, human freedom of choice becomes an alibi for behaving as we please, or it is the subject of a higher dimension in the eyes of God. When dealing with new reproductive technologies, we should study the bioethical aspects of such new instruments of Science. The mere production of spare embryos as well as their use for scientific research raises some serious bioethical questions that need to be answered. Just from the natural point of view, we have arguments in favor of showing respect for any kind of embryos, even if they are classified as "pre-embryos". C. W. Kischer gives us some useful information about the idea behind the term "conception", and its relationship with the beginning of human life: ""When animal experiments were done in the 18th and 19th centuries, deductive reasoning led to the conclusion that life began at conception; and, finally, this was observed directly by the first in-vitro fertilization procedures with human gametes some 40 years ago" (Kischer 2002). Following this kind of reasoning -not taking God into account, just from the natural point of view- Kischer arrives to this conclusion: "We should respect a microscopic human embryo because at that time it is an integrated whole organism, just as the human is at every moment in time until death. Every human embryo deserves as much respect as you or I because it is formed as a new individual human life within the continuum of life as a manifestation of NATURAL LAW!" (Kischer 2002) (Kischer's own emphasis in capital letters). Kischer speaks about a "continuum of life", and there are three different opposing views on this idea as R. Hoedemaekers explains in detail. He states that there are three fundamental positions with regard to the moral status of a new unborn human life: the first one is "continuity in development", and this view gives personhood to the embryo from the very beginning, that is, from conception, with the same degree of value and dignity as a human being; the second one is "discontinuity in development", and this position treats the embryos from two different angles, first as a property at conception, and much later as a person, depending on the age in development; and the third one is "incremental or gradual development" that assigns a lesser to a greater degree in personhood to the