The Tempest Essay Summary Example For Students

The Tempest Essay Summary The numerous jobs of Prospero. In the play The Tempest composed by Shakespeare, there are manydifferent jobs that Prospero plays. He has four significant jobs that I shalldiscuss as Duke of Milan, father to Miranda, ace to Ariel and Caliban,and as an amazing performer. Prospero was the Duke of Milan as he was usurped by his brotherAntonio and banished to a disconnected island. He is a serious hesitant leader,I subsequently disregarding common closures, and he is maybe remorseful of the path heapproached past obligations. His investigation of human sciences started to get in the wayof his obligations as pioneer and Duke, And Prospero, the prime duke, being soreputed, in pride and for the aesthetic sciences without a parallel.Prospero is the dad to Miranda. She is an unadulterated and gentleindividual on the grounds that she has lived practically every last bit of her life on this enchantedisland. She is absolutely guiltless and flawless and likewise has a sweetnature and a delicate heart. As she has been closed from the world for solong, Mirandas view of others will in general be nave and non-judgemental, I may consider him a perfect thing, to no end common, I eversaw so noblemake not very ill-advised a preliminary for him, for hes delicate, and not fearful. She is particularly faithful to her dad and Prospero thinks about his little girl. For instance, when she meets Ferdinand and theyarrange to get hitched, Prospero cautions him about sex before marriage as itwill bring misfortune, Take my little girl, yet on the off chance that thou dost break her virgin-tie before blessed custom be served, no sweet maligning will the heavenslet fall however fruitless loathe, acrid looked at scorn and conflict will bestrewthe association of your bed. I accept that Prospero thinks about Miranda andwants to see her glad. Prospero is likewise an ace; His disciplines for Caliban are trivial andvindictive. After Prospero become friends with him and shown him how to talk andthink, Caliban double-crossed him and therefore, Prospero oppressed him to alife of low undertakings; he declined to ever confide in him again. Caliban abhors hismaster and will effectively be free. Like Caliban, Prospero subjugated Ariel. Ariel assists his with acing in hisperformance of enchantment and completes the requests that Prospero gives, Iwill be journalist to order and do my spiriting delicately. Ariel ismischievous and cheerful, ready to cross the length of the island in aninstant and change shapes when he feels like it, If you could hurt, yourswords are currently too massy for your qualities, and won't be uplifted.Prospero is amazingly picked up, having concentrated the greater part of his life. He has usedhis long stretches of isolation on the island to contemplate supernatural expressions, which hasenabled him to control and order the island and numerous spirits around him. Prospero shows up nearly God-like in his utilization of enchantment and the way hemasterfully rules what will occur starting with one second then onto the next. When hecalls forward the spirits to do his offering and request the goddesses tobless and commend the marriage of his little girl to Ferdinand are clearexamples of the profundity of his mystical capacities. Luckily, Prospero is anoble character that exercises self control in rehearsing his forces. His variousschemes, spells, and controls all work, as a major aspect of his terrific structure toachieve the plays upbeat closure. Prospero rises as an increasingly affable and thoughtful character in thefinal two acts. In these, his adoration for Miranda, absolution of his enemies,and the finish of his plan all meet up to accomplish an upbeat completion. .u6d0e6fce3a754c1f75b795ddf930b894 , .u6d0e6fce3a754c1f75b795ddf930b894 .postImageUrl , .u6d0e6fce3a754c1f75b795ddf930b894 .focused content zone { min-tallness: 80px; position: relative; } .u6d0e6fce3a754c1f75b795ddf930b894 , .u6d0e6fce3a754c1f75b795ddf930b894:hover , .u6d0e6fce3a754c1f75b795ddf930b894:visited , .u6d0e6fce3a754c1f75b795ddf930b894:active { border:0!important; } .u6d0e6fce3a754c1f75b795ddf930b894 .clearfix:after { content: ; show: table; clear: both; } .u6d0e6fce3a754c1f75b795ddf930b894 { show: square; progress: foundation shading 250ms; webkit-change: foundation shading 250ms; width: 100%; obscurity: 1; progress: mistiness 250ms; webkit-progress: haziness 250ms; foundation shading: #95A5A6; } .u6d0e6fce3a754c1f75b795ddf930b894:active , .u6d0e6fce3a754c1f75b795ddf930b894:hover { murkiness: 1; progress: darkness 250ms; webkit-change: haziness 250ms; foundation shading: #2C3E50; } .u6d0e6fce3a754c1f75b795ddf930b894 .focused content region { width: 100%; position: relativ e; } .u6d0e6fce3a754c1f75b795ddf930b894 .ctaText { fringe base: 0 strong #fff; shading: #2980B9; text dimension: 16px; textual style weight: striking; edge: 0; cushioning: 0; text-enrichment: underline; } .u6d0e6fce3a754c1f75b795ddf930b894 .postTitle { shading: #FFFFFF; text dimension: 16px; textual style weight: 600; edge: 0; cushioning: 0; width: 100%; } .u6d0e6fce3a754c1f75b795ddf930b894 .ctaButton { foundation shading: #7F8C8D!important; shading: #2980B9; outskirt: none; outskirt sweep: 3px; box-shadow: none; text dimension: 14px; text style weight: intense; line-stature: 26px; moz-outskirt span: 3px; text-adjust: focus; text-beautification: none; text-shadow: none; width: 80px; min-stature: 80px; foundation: url(https://artscolumbia.org/wp-content/modules/intelly-related-posts/resources/pictures/straightforward arrow.png)no-rehash; position: total; right: 0; top: 0; } .u6d0e6fce3a754c1f75b795ddf930b894:hover .ctaButton { foundation shading: #34495E!important; } .u6d0e6fce3a754c 1f75b795ddf930b894 .focused content { show: table; stature: 80px; cushioning left: 18px; top: 0; } .u6d0e6fce3a754c1f75b795ddf930b894-content { show: table-cell; edge: 0; cushioning: 0; cushioning right: 108px; position: relative; vertical-adjust: center; width: 100%; } .u6d0e6fce3a754c1f75b795ddf930b894:after { content: ; show: square; clear: both; } READ: That Place Called Sprinkles Cafe' EssayThroughout the play, Prospero demonstrates that he is: a respectable man, aloving father, a generous sibling, a reasonable pioneer, and an amazing expert. Despite the fact that his sibling and his partners have taken the realm from him,Prospero can excuse them. He could have effortlessly murdered or punishedthem yet rather he drives them to see the blunder of their ways and pledgeloyalty to him. Therefore, when Prospero comes back to Milan to be itsruler, he will be more regarded and ground-breaking than any time in recent memory; his subjects willnot set out to plot against the reestablished Prospero later on.

Facilitating Case Management Essay

For what reason is it significant for a caseworker to create affinity with a customer? Give three instances of how compatibility can be created. 2. For what reason are legal prerequisites fundamental? What effect do they have looking into the issue manager’s job? 3. What data may you have to assemble from the groups of customers? 4. Rundown two components that might be viewed as qualities of a mind boggling case. 5. Depict two systems you may utilize when managing a customer with complex issues. 6. Case the board plans must be created so as to mirror the underlying appraisal of requirements. For what reason is it fundamental that these plans be structured in meeting with customers? 7. Casework procedures ought to be ceaselessly checked for viability. a) List two reasons why this is important. b) How should checking be attempted? 8. On the off chance that changes to a case plan are required, who ought to be counseled preceding the progressions being made? 9. For what reason is social thought significant as a feature of case the board arranging? 0. Layout three methodologies you think a work environment needs to have for remembering social mindfulness for the arranging procedure? 11. You are a Team Leader in a Community Service Organization and your association has recently utilized another case manager. Portray two systems that can help encourage casework meeting between staff to augment their exhibition in their new job. Best practice and advancing excellent case the board 12. What is implied by the term ‘best practice case management’? Why is best practice a huge assistance conveyance benchmark? 13. By what method can case managers profit by suitable initiative, support, guidance, oversight and difficulties? In what ways may these improve administration conveyance? 14. Enactment, authoritative approaches and methods can change after some time. By what method may case the executives heads bolster caseworkers in staying up with the latest with authoritative arrangements and techniques?

The Role of Food Variety in Eating Disorder Recovery

The Role of Food Variety in Eating Disorder Recovery Eating Disorders Treatment Print The Role of Food Variety in Eating Disorder Recovery By Lauren Muhlheim, PsyD, CEDS facebook twitter linkedin Lauren Muhlheim, PsyD, is a certified eating disorders expert and clinical psychologist who provides cognitive behavioral psychotherapy. Learn about our editorial policy Lauren Muhlheim, PsyD, CEDS Medically reviewed by Medically reviewed by Steven Gans, MD on February 25, 2018 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on February 21, 2020 Jose Luis Pelaez Inc/Blend Images/Getty Images More in Eating Disorders Treatment Symptoms Diagnosis Awareness and Prevention Many patients with eating disorders will only eat a restricted range of foods. As your eating disorder has evolved, you may have stopped eating foods that you thought were fattening or that contained sugar. Or maybe you went starch- or gluten-free or decided to “eat clean.” Maybe you became vegetarian or vegan. Or maybe you shun vegetables because you are anxious about choking on them, or you don’t allow yourself to eat desserts because you don’t believe you can limit yourself to a normal portion. If any of these restrictions is a symptom of your eating disorder, recovery will require you to increase your food variety. Consequences of a restricted range of food intake can include nutritional deficits, maintenance of weight too low for your body, and getting stuck in a cycle of binging or purging. Each of these, in turn, could cause serious medical complications. Increasing the range of foods eaten is a primary goal for patients of any eating disorder diagnosis, whether anorexia nervosa, bulimia nervosa, binge eating disorder, other specified feeding or eating disorder (OSFED), or avoidant restrictive food intake disorder (ARFID). Increasing Food Variety During Eating Disorder Recovery There are many good reasons for any eater to broaden his or her diet, and this applies especially to individuals in recovery: Success in cognitive behavioral therapy for bulimia and binge eating is associated with becoming a more flexible eater. Cognitive behavioral therapy (CBT) for eating disorders is the most studied and validated treatment for bulimia nervosa and binge eating disorder.?? It is based on the cognitive model, which finds that restrictive eating maintains a cycle of bingeing and purging. Treatment to break the cycle requires reducing dietary restraint. Research shows that patients who adopt a habit of flexible eating exhibit reductions in binge eating and purging.??Successful treatment for anorexia nervosa is associated with a more varied diet. One significant symptom of anorexia nervosa is a restricted diet; expansion of this dietary range is an important treatment goal. Research has revealed that individuals who were successful in sustaining recovery from anorexia nervosa consumed a more varied diet.?? It also shows that they ate foods that were higher in fat and calories.A more varied di et reduces the chance of overeating any single food that contains substances unhealthy in larger quantities. It seems that every week we discover new food is correlated with some terrible health risks. One year it was bacon. In years past, the dangers we worried about were MSG, soy, or the mercury in fish. While many of these risks have proven to be hyped or simply not true, the best way to hedge against them is to broaden your diet and moderate intake of any single food. This reduces the risk of high exposure to any single substance dangerous either in theory or actuality. Not incidentally, eating a variety of foods maximizes the chances of getting all the nutrients needed for good health.Flexibility is important to people sensitive to an energy imbalance, taking in fewer calories than one needs, (as are many patients with eating disorders). Individuals who eat a limited diet can be at a greater risk of getting insufficient food when their choices are limited. For example, taking a road trip on the interstate, during which the only food option may be a rest-stop fast food restaurant, could be problematic for an individual only willing to eat a side salad. Unwillingness to eat sufficient energy-dense foods could trigger an energy imbalance, which could, in turn, reactivate an eating disorder.??A limited variety of food intake can significantly hinder social opportunities, many of which have food as a focus. Individuals who are uncomfortable eating in different settings and consuming different cuisines may not be able to join friends in certain activities or may feel compelled to eat alone. This restriction may pose limits on a person’s ability to have fun and connect with others.A limited range of food intake may shrink your world. Experiencing new foods is an almost inescapable aspect of travel, and one of the most exciting. People with eating disorders who travel during times of illness or even during early recovery generally struggle with unfamiliar foods . Some have traveled to countries known for amazing cuisines and not even taken a single tasteâ€"lost opportunities!While eating the same foods repetitively might give a sense of security, it often leads to food “burnout.” Eating a range of foods helps maintain a healthy interest in food. Some people with eating disorders who repeatedly eat the same food often report getting bored with that food. They also tend to report less interest in eating and less satisfaction from eating. Research supports the intuition that most people would quickly tire of even their favorite food if it were their only option, and might even reduce their intake far enough to lose weight, which could increase the risk for relapse.?? In summary, while a restricted dietary range might serve to decrease one’s anxiety in the short term, this comfort it is not without costs. When it comes to food, variety not only is the spice of life but may hold the key to recovery. How to Approach Increasing Food Flexibility Increasing food flexibility is not usually one of the immediate goals of recovery unless the range of foods is extremely restricted, weight gain is important, and weight gain is not possible without at least some increase in flexibility. Most often, increasing flexibility is addressed a little further along in treatment once the patient is consuming meals more regularly. 4 Steps to Challenging Forbidden Foods in Eating Disorder Recovery Once the patient is ready to begin addressing food flexibility, it is common to begin by making a list of forbidden foods. These are typically food items the patient does not allow him or herself to consume (or only consumes in the course of binges). The next step is to slowly introduce these foods into the diet in moderation. This is an example of exposure therapy. In exposure therapy, patients face situations and things that make them anxious.?? Over the course of repeated exposures to the feared thing, they learn that nothing bad happens and their fear lessens. Exposure to forbidden foods can be scary, but it is very effective. By contrast the longer you avoid something, the scarier it gets. Tips for Caregivers of People With Eating Disorders If you are caring for a child with an eating disorder, you will also want to help increase the flexibility of his or her diet. The goal for your child should be to return him or her to eating all the foods that he or she used to eat about two years before there were any signs of an eating disorder. In retrospect, many parents realize that their children slowly eliminated foods from their repertoire for sometimes up to two or three years before the eating disorder was actually diagnosed. For this reason, it is recommended that you go back this far or farther to form a baseline for your child’s eating behavior. Do not allow your minor child to stop short of full reincorporation of fear foods.?? Helping your child to enjoy the broadest range of foods will help ensure his or her full recovery and a life of freedom. A Word From Verywell Recovery from an eating disorder takes time and courage. Once you successfully incorporate your fear foods you will be able to enjoy a more relaxed relationship with food. How to Challenge All-or-nothing Thinking

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Shakespeare s Madame Bovary And The Picture Of Dorian Grey

Desire till Death Sec 007 Human emotions remain as one of the world’s biggest secrets. Like sleep, we know what happens to our body when we experience these emotions whether it be a release of hormones or a certain area on the body becomes more sensitive. But we don’t know why we have them, experience them, or what purpose they serve. All we know is everyone’s emotions behave differently. Different types of arts can elicit completely different emotional response from people. Some art may have the ability to appeal to dangerous emotions in certain people. Whether it be the corruption of a once faithful and beautiful young girl, plagued by the desire for romanticism and lofty ideas, or a handsome young nobleman who is obsessed with living life to fullest. Both are fueled by the emotion that a certain type of art elicits in them, leaving them in a never ending chase that ruins there life’s. In the Novels Madame Bovary and The Picture of Dorian Grey the protagonists in these stories pe rfectly exemplifies the danger of arts emotional appeal by showing the corruption and eventual downfall of two once young and beautiful souls by exposing them to art that pleases dangerous emotions such as desire, pleasure, entitlement and disappointment. In the Beginning Both Madame Bovary and Dorian Grey are kind, respectful and innocent souls. Although Emma is excited by the idea of romantics and love long before Charles meets her, she is still an innocent, polite farm girl who is religious

Company Auditing Free Essays

Group Assignment – HBC614B Company Auditing PART 1 THE INTERNATIONAL AUDITING STANDARDS BOARD AND ITS IMPORTANCE TO THE DEVELOPMENT OF AUDITING STANDARDS IN AUSTRALIA AND NEW ZEALAND The International Auditing and Assurance Standards Board (IAASB) is an independent standard setting body within the International Federation of Accountants (IFAC). Established in 1978, originally known as International Auditing Practices Committee (IAPC), it changed its name to IAASB in early 2001 and was then reformed by IFAC in 2003. IAASB puts public interest first and aims to improve the quality and uniformity of practice throughout the world and to strengthen public confidence in the global auditing and assurance profession by facilitating the convergence of international and national standards. We will write a custom essay sample on Company Auditing or any similar topic only for you Order Now IAASB is committed to achieve its objectives through the following works: †¢ Developing Standards – establish high quality auditing, review, other assurance, quality control and related services standards, such as International Standards on Auditing (ISAs). Global Acceptance Convergence – promote the acceptance and adoption of IAASB pronouncements throughout the world and support a strong and solid international accountancy profession by coordinating with IFAC member bodies, regional organisations and national standard setters. †¢ Communication – encourage debate and present papers on a variety of audit and assurance issues and increase the public image and awareness of the activities of the IAASB. To date, the IAASB has earned increasing recognition for the quality of its standards and the credibility of its standard setting process. This has contributed to the increasing use of its standards worldwide. Over 100 countries are now using or are in the process of adopting ISAs into their national auditing standards. For investors in international capital markets, the quality of audit reports and audit opinions on financial reports are crucial when they make decisions about capital allocation. Audits, working within internationally accepted auditing standards, increase the credibility and reliability of the financial information provided in the financial reports. As Australian capital markets are increasingly linked with overseas markets, it is important to have a globally standardised financial reporting framework that is supported by globally accepted auditing standards. The Australian Auditing and Assurance Standards Board (AUASB) made the compliance with IAASB standards easier via a long-standing policy of convergence and harmonisation with ISAs. The AUASB uses ISAs as a base to develop Australian Standards on Auditing (ASA). For any revision and enhancement of ISAs initiated by the IAASB, the AUASB will make appropriate consequential amendments to ASA. The AUASB and IAASB generally issue an exposure draft of a proposed auditing and assurance standard concurrently for consideration by interested parties. In New Zealand, New Zealand Auditing Standards (AS) and Audit Guidance Statements (AGS) are also based on ISAs and International Auditing Practice Statements (IAPS). The New Zealand auditing authority adopts the IFAC documents and amends them only as necessary to achieve its – 1 of 11 – Group Assignment – HBC614B Company Auditing objectives. Amendments to the IFAC documents may be made to reflect specific New Zealand legislative requirements or to reflect specific audit practising arrangements within New Zealand. As we can see, for years since IAPC or IAASB was established, it has played a very important role in enhancing and standardizing the quality of auditing and assurance services around the world. ============================= – 2 of 11 – Group Assignment – HBC614B Company Auditing PART 2 CO-REGULATION OF AUDITING PRACTICE IN AUSTRALIA In most developed countries, including Australia, the auditing regulatory framework is provided, at least to some extent, by government through legislation and government agencies. In the past, however, the auditing profession in Australia was largely self-regulated through the rules and requirements self-imposed by the principal players in the field, i. e. auditing firms and auditing professional bodies. As a result of the Corporate Law Economic Reform Program (CLERP) 9, the Auditing and Assurance Standards Board (AUASB) became a statutory (government) body. Since April 28th 2006, the Australian Auditing Standards (ASAs), which have been released by AUASB for purposes of section 336 of Corporation Act 2001, have Force of Law. The Financial Reporting Council (FRC), a statutory body under the Australian Securities and Investments Commission Act 2001 (ASIC Act), is responsible for providing broad oversight of the process for setting accounting and auditing standards as well as monitoring the effectiveness of auditor independence requirements in Australia. Yet the control and enforcement mechanism of these standards is also supported by the auditing profession represented by two primary professional accounting organisations: CPA Australia and the Institute of Chartered Accountants in Australia (ICAA). Although the membership in these two organizations is voluntarily, it is still a necessary condition to get registration as a Company Auditor or a Liquidator. Some methods of control of quality of the auditing services imposed by these professional organisations include peer reviews, continued professional development and periodical rotation of the auditors. There are also disciplinary procedures in place to encourage improved ethical behaviour and quality of service provided. This particular model of co-existence of government regulation and industry self-regulation in Australia is called ‘co-regulation’ of auditing practice. Co-regulation provides ‘interactions that produce pressures for the refinement of regulatory structures in terms of openness, consultation, independence and speed of response to urgent accounting problems’ [Malcolm C. Miller]. ============================= – 3 of 11 – Group Assignment – HBC614B Company Auditing PART 3 QUESTION 6. 3 – ASA 315 UNDERSTANDING THE ENTITY AND ITS ENVIRONMENT AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT – HOMECHEF PTY LTD. A first and very important step of the audit process involves the auditor gaining an early understanding and knowledge of the client’s business. In fact, ASA 315 requires that this step is carried o ut during the audit planning stage. The auditor must obtain or update their understanding of the client’s operations and circumstances, including its organisational structure, management policies, the company’ position in its industry, the economy and its legal obligations. ASA 315 provides extensive guidance on matters related to obtaining an understanding of the entity and its environment, which may be classified into three main categories: (1) Internal control / organisational structure (2) Operational and legal structure (3) Industry and economic conditions An understanding of these three elements helps the auditor assess the client’s business risk and identify the events, transactions and practices that may have a significant effect on its financial report. This report presents a recent review of the operations and circumstances of one of our clients, HomeChef Pty Ltd. in accordance with the requirements of ASA 315. The main objective was to identify the events and developments at HomeChef which may have a significant bearing on the company’s business risk and consequently affect our audit. This understanding will help us plan and perform the audit more efficiently and effectively and will ultimately improve the services we provide to our client. HomeChef Pty Ltd has been the market leader in the boutique food and beverage industry for the last two years. The company manufactures, supplies and retails quality ingredients for use in the home kitchen and small restaurant market. During the review our audit team identified a number of major events/transactions that may have a significant impact on the business and affect our audit process. Below is a brief discussion on each of these events/transactions: 1) New products and services: Recently, HomeChef introduced ‘pre-packaged’ meals suitable to be served at a dinner party. Preparation of the ‘ready to serve meals’ would require extra steps to produce the final product. This would involve more processing facilities, more staff and more advertising. One potential related business risk might be the increased product liability. There may be extra compliance requirements from the Food Safety Regulators. There could also be risk that the demand has not been accurately estimated. The company’s capital and current expenditure may increase significantly because of the launch of the new product. This situation tends to increase our audit risk. The auditor, therefore, should carefully consider how this changing operating characteristic may affect his/her auditing process. For example, he/she may need to review some Food Safety Regulation requirements to assess that correct amounts of expenditure is attributed to this particular type of compliance; or refer to some industry literature to get a better understanding of the niche market for this type of product. Reviewing – 4 of 11 – Group Assignment – HBC614B Company Auditing sales figures and sale forecasts may also help to assess to what degree the company’s business risk may be affected by this new development. 2) New lines of business: HomeChef has recently opened a number of small cafe where customers can sample the s company’s product range. By doing so, the company is venturing into unfamiliar territory. In addition, the notes of HomeChef’s draft financial report reveal that the company has entered into agreements for building and developing a new entertainment complex. These events indicate not only changes in the company’s operational structure, but also those relating to its environment. New opportunities bring new risks. As this is HomeChef’s first venture into a new business area, lack of expertise and experience could be a real concern. The hospitality industry operates quite differently from the food manufacturing. There could be many more competitive forces and regulations in place. This move could change the organisational/operational structure of the company drastically. For example, new divisions may need to be established and the company hierarchy changed. Apart from the potential risks of increased product liability and inaccurate demand estimates, similar to the case of all new products, this could introduce new risks associated with the company’s internal control. Also, the company’s potential business risk would increase its inherent risk. In general, this event is likely to increase our audit risk. It is very important that the auditor familiarises him/herself with the company’s new operational structure, the industry conditions and regulatory environment related to this new line of business. Reviewing the hospitality industry publications and significant industry legislation may assist with basic understanding of how the company business risk is affected by this move. Aggressive marketing and acquisition strategy – Rapid growth: Over the last two years HomeChef has acquired a number of smaller competitors and become the market leader in its industry. This is an indication of the company’s aggressive approach to expansion and growth. In such situations, it is often noticed that a company’s infrastructure is likely to lag behind in the process. In a hurry to expand, the organisational structure of the company may be changing too fast. There could be staff members with insufficient experience, the IT system may not cope well under the new conditions as new procedures and processes are added in. This significant and rapid expansion of operations could create strain and increase the risk of a breakdown in controls. The auditor needs to discuss with the senior management and gather evidence from the company’s documents to assess this risk. He/she may need further understanding of the current cycle in the industry, to assess how this ‘acquisition spree’ could affect HomeChef’s business risk, and consequently the audit risk. Reviewing government statistics, trend forecasts, trade journals and financial newspapers may help improve the auditor’s understanding of the industry in general and the business in particular. Changes in key personnel: The departure of a key executive (HomeChef’s finance director), probably with a significant loss of corporate history and experience, may also have an impact on the business. The new finance manager has been with the company for less than a month and may take some time to gain the knowledge and understanding of the business. He may have a different focus or 3) 4) – 5 of 11 – Group Assignment – HBC614B Company Auditing understanding of the company’s internal control. The auditor should take this factor into account when assessing the risks of misstatements associated with the company’s financial report which, possibly, has been prepared under the instructions of the new finance director. 5) Newly-established internal audit group: HomeChef started using the service of an internal audit group for the first time this year. Generally, the existence and operation of an internal audit group indicate the commitment and serious consideration given to maintaining high standards of internal control by the management. This would normally reduce the control risk in a business and subsequently reduce the audit risk. In addition, the external auditor could, to some extent, use the work of an internal auditor, after having gained knowledge of and satisfied with the scope of internal auditing and the audit team’s technical competence and professional care. However, in this case, as HomeChef’s audit team is new, careful considerations are required if the auditor is to rely on the internal team’s audit work. Installation of a significant new IT system related to financial reporting: HomeChef switched to a new computer system early this year. The system was installed by a professional computer company and the old and new systems were run parallel for 3 months. Some new functions/modules have been introduced in the new system, including the ability to process stocktake results, account payable invoices and payments at the store level. This event highlighted a major change in one of the company’s internal control components. It seems that the new system is rather reliable as a systematic testing plan and an integrity checking process were carried out by the professional computer company and there have been no major problems with the system so far. The use of this new system could potentially decrease the company’s control risk. The audit strategy could focus on test of control. A proper and systematic testing plan on the new system is recommended, especially on the new modules for stocktake and accounts payable process. Significant amount of non-routine/non-systematic transactions: HomeChef’s draft Income Statement includes an ‘extraordinary item’ of $231 million without any notes or explanations attached to it. The existence of this ‘extraordinary’ loss would certainly have a significant impact on the business and would increase the audit risk considerably. This particular transaction requires a significant amount of attention by the auditor. Enquiries should be made to understand the nature and extent of all relevant details of this transaction. This would help the auditor assess if the transaction is legal, not dismissing the possibility of fraud, or errors, such as transactions recorded without substance, intentional misapplication of accounting policies, mathematical mistakes, oversight or misinterpretation of facts. The auditor should also examine if the valuation and allocation of the amounts have been done correctly. Company records and legal documents will need to be reviewed. An extensive substantive audit approach would be suitable for this particular area of the audit. Debt structure – Covenant agreement: Note (e) to the draft Financial Report reveals that a covenant agreement exists between HomeChef and its bank. The bank loans are secured against the company’s remaining property, plant and equipment. This agreement specifies that the company should maintain a 6) 7) 8) – 6 of 11 – Group Assignment – HBC614B Company Auditing positive net tangible asset ratio and a positive current ratio. Given the large amount at stake, there is a great incentive for the company to falsify, alter and manipulate figures to achieve these positive ratios at any cost. This situation would increase HomeChef’s business risk significantly and consequently increase our audit risk. The audit plan could focus on substantive testing of the accounts related to the current ratio and net asset ratio. The auditor must exercise reasonable care and skill and maintain an attitude of professional scepticism throughout the audit. Based on HomeChef’s financial ratios being adverse and the subsequent difficulty in complying with the terms of loan agreements, the auditor may need to raise a going concern issue. It would be necessary for the auditor to discuss this problem with HomeChef’s management so that appropriate measures could be taken by the company to overcome this situation. As a result of reviewing HomeChef’s operations and environment, including its financial and marketing position, using the precepts of ASA 315, our audit team has been able to update our knowledge of the company’s situation and assess our audit risk accordingly. This understanding and assessment will direct the development of our strategy and plan for the audit of HomeChef. ============================ – 7 of 11 – Group Assignment – HBC614B Company Auditing PART 4 QUESTION 6. 22 – IMPACT OF BUSINESS RISK ASSESSMENT ON AUDIT STRATEGY This report presents a short case study of Weave Limited. The main purpose of the case study is to look at how Business Risk impacts on Audit Risk, and consequently, on Audit Strategy and Plan. Weave Limited is a closely held private c ompany, manufacturing high-quality woollen cloth. It has been in operation for almost 60 years and the CEO of the company is also its major shareholder. Currently, the company is under a great financial stress due to increased competition and falling sales volume. Three years ago the company was sued for dumping chemical pollutants into the local river. As a result, a settlement was signed with the Environmental Protection Agency providing that Weave construct a water treatment facility within five years. Our Audit Firm has been auditing Weave for the last ten years, and the current year interim audit revealed that there has been virtually no activity in the Water Treatment Facility Construction account in the current financial year. To prepare for this year audit we need to take the following steps: (1) review the company’s business risk i. e. the risk that Weave’s business objectives will not be attained due to the above-mentioned pressures and, ultimately, the risk associated with its profitability and survival. (2) assess the implications of the company’s business risk on our audit risk (3) develop our audit strategy and audit program in response to the assessed risks. In order to assess Weave’s business risk, we felt that a PEST analysis would be the most appropriate approach. It involves identifying the political/legal, economic, social and technological influences on an entity. †¢ Environmental Protection Laws may have a heavy toll on the business. Compliance with these Laws (such as building a water treatment facility) may be very expensive, but non-compliance may actually have a suicidal effect on the company. †¢ Economic risk should also be taken into account. Increased competition and limited market for Weave’s high quality and possibly expensive products could pose a serious threat to the company’s profitability and ultimately its very survival. Social risk component is also present in this case. The surrounding area is poor and unemployment rate is high. The company’s management may feel a social pressure to provide employment at any cost. The obligation to build a water treatment facility could be very expensive and resource-consuming. It is not an easy task to estimate or to make provisions for the resources require d to meet this obligation. It is even harder to estimate the costs of not meeting this obligation. This adds unusual pressure on the management. Potential incentives could arise for management to understate the company’s profit/cash flow to use as an excuse in an attempt to avoid fulfilling this particular liability. This situation is likely to increase Weave’s inherent risks. – 8 of 11 – Group Assignment – HBC614B Company Auditing In assessing the company’s control risks, certain observations and issues have come to our attention which suggest an unsatisfactory internal control system: †¢ The company’s CEO is also its major shareholder who seems to be a strong character that has the overriding authority and decision making power. The CEO does not seem to take the compliance with the conditions imposed by the Government’s Environmental Protection Agency seriously. He decided to stop work on the water treatment facility as he thought that the State would not fine or close the company down for non-compliance. †¢ The company does not seem to have any risk assessme nt policies or procedures for dealing with business risk. Based on the above findings, the audit team agreed that Weave’s business/inherent risks and control risks could be assessed as high. This conclusion has had an impact on our audit strategy and audit plan. As we believe that the control risks are high, an audit strategy of a predominantly substantive approach has been adopted. We do not plan to obtain a thorough understanding of the company’s internal control or to carry out tests of control. Instead, we plan extensive substantive audit procedures based on a low to medium acceptable level of detection risk (depending whether the assertions under examination are at risk). In response to the high level of inherent risks, we decided to assign more experienced audit personnel and to conduct the audit with a heightened degree of professional scepticism. As mentioned earlier, an accurate assessment of the extent of liability related to the breach of the environmental laws is not easy to achieve. As the company’s management does not seem to recognise the seriousness of this risk or to respond to it properly, we decided to engage environmental and technical experts to assist by providing us with legal/environmental opinion and estimates. The engagement of an environmental consultant will be scheduled to happen before the year end audit. Weave’s increased inherent risk and control risk increase our audit risk. Some assertions in the company’s financial reports have been identified as the key audit assertions as they tend to be more at risk. These assertions will be examined closely (please refer to the matrix below) and more efforts will be focused on obtaining sufficient and appropriate evidence to test these assertions. Financial Acct Liability Acct (provision for water treatment facility) Contingent Liabilties Valuation of the provision Sales Acct (Income Statement Assertions) Completeness all sales recorded Accuracy of recorded sales amounts Correct accounting period cut-off Inherent Risk Control Risk Debtor’s confirmation Assertions at risk (Balance Sheet Assertions) Completeness of all liabilities Inherent Risk Engagement of environmental expert/consultant Quotation / project estimations are recorded properly with appropriate amounts Audit Risk Procedures/Evidence 9 of 11 – Group Assignment – HBC614B Company Auditing To test if the liability account for the water treatment facility contains any material misstatement we will focus on whether the account has included all liabilities as per the environmental specialist’s advice and the amounts are properly estimated and recorded (completeness and valuation). We could do this by seeking confirmation from the environmental specialist and checking estimates/quotations for the project. To support the company’s claim of ‘low sales volume’ and ‘low level of cash flow’, we will test if all sales transactions pertaining to the company have been included in the income statement (completeness) and all sales occurred during the current accounting period have been properly recorded with the correct amounts (accuracy and cut-off). Collecting debtors’ confirmations could be the approach to carry out this test. As our team has audited the company for the last ten years, it is assumed that there must be a certain degree of familiarity and complacency. However, due to the new developments in the company’ situation, more specifically, higher level of business risk, this year’s audit strategy and plan have been revised accordingly. Apart from additional audit procedures and probably a larger sample size, our team will need to maintain a higher level of professional scepticism to make sure that the company’s accounts contain no material misstatements. It should be noted that had this audit been undertaken in the seventh year after the signing of the settlement with the Government’s Environmental Protection Agency, the situation would be different. As the condition of the settlement to build a water treatment facility would have been breached by now, there is an imminent threat of the company being closed down by the government. A ‘going concern’ assessment at the planning stage (as required by ASA 570) would provide the following going concern problem indications: (1) increased competition and falling sales, (2) noncompliance with statutory requirements, and (3) legal proceedings against the entity. In cases where going concern is related to cash flow or solvency problems, some mitigating factors could be considered (such as sale of assets or additional contributions by owners). However, in this case, it could be judged that a going concern basis is not appropriate as the business is now subject to closure by government regulation enforcement. We, as the auditors, would need to discuss ways to deal with the problem with the company’s management. The possible outcomes could range from renegotiating the settlement agreement to making the decision to liquidate. In the latter case, the auditors would have to assess the impact that a forced sale of assets would have on the book values and the classifications of assets. The auditors would also need to assess the amount and classification of liabilities, including any provision for staff termination payments and other closing-down expenses. In any way, if going concern is an issue it should be adequately reflected (disclosed) in the Financial Reports. The Auditor’s Report should also include an ‘emphasis of matter’ [ASA701. 09 ASA570], clearly stating that there is a significant uncertainty regarding a going concern problem. ============================= – 10 of 11 – Group Assignment – HBC614B Company Auditing REFERENCES: 1. 2. Australian Auditing and Assurance Handbook, 2007 Edition, CPA Australia Australian Government’s Financial Reporting Council 2005, Australian Government’s Financial Reporting Council, viewed 20 May 2008, http://www. frc. gov. au/about 3. Brief History 2008, International Auditing and Assurance Standards Board, IAS Plus, Deloitte, viewed 18 May 2008, http://www. iasplus. com/ifac/iaasb. htm 4. Chris Pearce, Parliamentary Secretary to the Treasury, 22 November 2004, â€Å"The future of governance regulation in Australia, Address to the 21st National Conference of Chartered Secretaries Australia†, viewed 19 May 2008, http://www. reasurer. gov. au/DisplayDocs. aspx? doc=speeches/2004/001. htm=005=cjp=20 04=1 5. Gay Simnett, 2007, ‘Chapter 6 Planning, Knowledge of the Business and Evaluating Business Risk’, Auditing and Assurance Services in Australia, revised edn 3, McGraw-Hill Australia Pty Ltd. 6. International Auditing and Assurance Standards Board 20 08, IFAC, viewed 18 May 2008, http://www. ifac. org/IAASB/ 7. James M. Sylph, January 14, 2005, â€Å"Global Convergence – Near or Far? †, American Accounting Association Auditing Section 2005 Mid Year Conference How to cite Company Auditing, Papers

Exercise 29 Statistices free essay sample

According to the above data independent groups define as if the two sets of data were not taken from the same subjects and if the scores are not related. In this study subjects are two different genders which is men and women and scores are not even related each other. Therefore this is an independent study. 2. t = ? 3. 15 describes the difference between women and men for what variable in this study? Is this value significant? Provide a rationale for your answer. T = -3. 15 describes the mental health variability. This is a significant value because it’s provides the degree of freedom. According to the data above the significance of a t ratio can be determined by comparison with the critical values in a statistical table for the t distribution using the degree of freedom for the study. The value is significant because p value of it is 0. 002 which is smaller than alpha value set for this test that is 0. We will write a custom essay sample on Exercise 29 Statistices or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 05 3. Is t = ? 1. 99 significant? Provide a rationale for your answer. Discuss the meaning of this result in this study. t = -1. 99 is significant because it represent health functioning variables between men and women which compares men and women for perceived coping, quality of life and social support. Smaller P value indicates more significant findings. The P value for health functioning is 0. 049 which is smaller than the alpha level 0. 05 in this study. 4. Examine the t ratios in Table VI. Which t ratio indicates the largest difference between the males and females post MI in this study? Is this t ratio significant? Provide a rationale for your answer. The largest difference between the males and females post MI indicates the mental health. It has t ratio of -3. 15. This is a significant ratio because it has a p value of 0. 02 which is smaller than alpha value that being sent for 0. 05 5. Consider t = ? 2. 50 and t = ? 2. 54. Which t ratio has the smaller p value? Provide a rationale for your answer. What does this result mean? t = -2. 50 has a p value of 0. 01 whereas t = -2. 54 has the p value of 0. 007 which is smaller than p value of 0. 01. This result means that t = -2. 54 has more significant findings, which indicate that better role- physical after post MI between men and women than the physical component score. 6. What is a Type I error? Is there a risk of a Type I error in this study? Provide a rationale for your answer. According to the data above, a type 1 error occurs when the researcher rejects the null hypothesis when it is in actuality true. The type 1 error is often represented by the Greek letter alpha (a). In this study the level of significance or alpha was set at 0. 05 and multiple p value has gone above 0. 05 such as socioeconomic p value0. 58, family p value 0. 51. Therefore, there is type 1 error in this study. 7. Should a Bonferroni procedure be conducted in this study? Provide a rationale for your answer. Because this study has a risk of a type 1 error, a boneferroni procedure should be conducted. This procedure is used to correct the risk of a type 1 error. The boneferroni procedure is a simple calculation in which the alpha is divided by the number of t-tests run on different aspect of the study data. 8. If researchers conducted 9 t-tests on their study data. What alpha level should be used to determine significant differences between the two groups in the study? Provide your calculations. Alpha/ number of t tests performed on study data = more stringent study to determine the significance of study results 0. 05/9 = 0. 0055. 0. 005 is the alpha level should be used to determine significant differences between the two groups in the study. 9. The authors reported multiple df values in Table VI. Why were different df values reported for this study? The author used multiple df values in table VI because according to the data above, significance of a t ratio can be determined by comparison with the critical values in a statistical table for the t distribution using the degrees of freedom for the study. DF is a mathematical equation that describes the freedom of a particular scores’ value to vary based on the other existing scores values and the sum of the score. The formula for the df = number in group 1+ number in group 2-2. This way author is becoming more specific by providing different df values which shows the comparison and differences between 2 independent groups. 10. What does the t value for the Physical Component Score tell you about men and women post MI? If this result was consistent with previous research, how might you use this knowledge in your practice? The t value tells us about the differences between men and women post MI physical component score. In my practice using this t value, I would be able to work differently between men and women after post MI. Teaching might provide to women more about physical functioning, role physical, bodily pain and general health since these are all included in physical component score. The physical component score for women is 48. 5 compared to men 51. 1 (standard deviation). Therefore, women might need to educate more about the physical components than men.