Acknowledgement Examples Essay

* First and foremost, we would like to thank to our supervisor of this project, Miss Shyamala for the valuable guidance and advice. She inspired us greatly to work in this project. Her willingness to motivate us contributed tremendously to our project. We also would like to thank her for showing us some example that related to the topic of our project. Besides, we would like to thank the authority of Multimedia University (MMU) for providing us with a good environment and facilities to complete this project. Also, we would like to take this opportunity to thank to the Centre of Affiliated Diploma Programme (CADP) of Multimedia University (MMU) for offering this subject, Computing Project. It gave us an opportunity to participate and learn about the operation of flights ticket reservation. In addition, we would also like to thank Malaysia Airline System (MAS) which provide us valuable information as the guidance of our project. Finally, an honorable mention goes to our families and friends for their understandings and supports on us in completing this project. Without helps of the particular that mentioned above, we would face many difficulties while doing this * Apart from the efforts of myself, the success of any project depends largely on the encouragement and guidelines of many others. I take this opportunity to express my gratitude to the people who have been instrumental in the successful completion of this project. I would like to show my greatest appreciation to Prof. James Geller. I can’t say thank you enough for his tremendous support and help. I feel motivated and encouraged every time I attend his meeting. Without his encouragement and guidance this project would not have materialized. The guidance and support received from all the members who contributed and who are contributing to this project, was vital for the success of the project. I am grateful for their constant support and help. * I would like to gratefully acknowledge the enthusiastic supervision of Dr. Ali Rezazadeh during this work. I thank Prof. Garth Swanson for the technical discussions on the spectral response model and Dr. S. E. Kanellopoulos for the help with optical measurements and relevant discussions. Postgraduates of the Physical Electronics Research Group are thanked for numerous stimulating discussions, help with experimental setup and general advice; in particular I would like to acknowledge the help of Dr. Jim Luck for his support. Sean Wootton, Kevin Smith and Nick Nicola are thanked for their assistance with all types of technical problems – at all times. I am grateful to all my friends from International Hall, University of London, for being the surrogate family during the many years I stayed there and for their continued moral support there after. From the staff, Donald Mann and Margaret Wilson are especially thanked for their care and attention. Finally, I am forever indebted to my parents and Anita for their understanding, endless patience and encouragement when it was most required. I am also grateful to Naela and Tanvir for their support.

Service Alternatives

Keats, P. (2008). Time-Limited Service Alternatives: Using Therapeutic Enactment in Open Group Therapy. The Journal for Specialists in Group Work, 33, 297-316. The increasing numbers of students that require counseling and the growing severity of problems that are being faced by these students in the campuses have prompted counselors to study and apply alternative means of providing the students' counseling and therapy needs.The technique that was presented in the article is one which is considered an innovative counseling approach combining group therapy format and therapeutic enactment intervention techniques to address the needs of the clients. The approaches were based on different theoretical foundations of experts and were designed in a way that will be both effective and efficient. An open group therapy was opted because it facilitates cohesiveness as well provide a venue for greater interaction among clients. On the other hand, therapeutic enhancement is a group-based model t hat involves the client's re-enactment of experiences using actions.Clinical and ethical considerations were based on guidelines set by Association of Specialists in Group Work and the American and Canadian Counseling Association . The qualifications for being in the session would depend on making sure that the well-being of the client will not be jeopardized by a group setting. As the approach employs an open-group structure, it also requires a co-facilitation of the group. The group activities are divided into the warm-up section, the central activity, and a closing exercise.In addition, the concerns that may pose as challenges to the format were thoroughly discussed such as student reluctance, confidentiality, timing and training concerns. The qualitative evaluations at the end of the sessions provided positive results from clients who appreciated being in a group where there was opportunity to interact with other students. Some considerations will be evaluated in the future such as extending evaluation procedures, adapting a more extensive questionnaire, comparisons of evaluations by returning and non-returning clients, as well as using a quantitative measure to improve further understanding.A. How is this work useful to me as an aspiring counselor? This work is useful because it provides insights which are vital for a counselor. The results of the study as well as the approaches used can be utilized and applied in future undertakings. The innovation of the approach presented in the article can provide flexibility and additional knowledge that may be useful under some circumstances. Being an aspiring counselor, one must be adept in assessing the needs of the clients and providing the best approach for their concerns.This article provides just that and gives a reminder to be more critical and observant in dealing with the client as well as being open to learning better strategies. b. How does this work contribute to the field of counseling? This work contri butes new ways of approaching group counseling because it deals with something that addresses the concern of finding innovative means to solve the growing number of clients as well as the increase in the intensity of their problems.Combining the open group therapy approach and therapeutic enhancement provides the field of counseling an approach that is conducive for interaction, counseling in a large-scale setting, as well as allows counselors and facilitators an opportunity for co-leadership and provides more resources for them as well as reduces the possibility of frustration by both counselor and client when in an individual setting. c. What new research do the authors generate by writing this article? The authors generate new research which will involve further evaluation of the results and application of the approach in a different setting.It also foresees the possibility of employing other tools such as a more extensive questionnaire and the use of other forms of quantitative measures. Another consideration for future research is exploring the comparisons of evaluations between those who are not returning for the sessions and those who are actually returning. Ultimately, it opens the research of finding means of making clients satisfied after the first session. References Keats, P. (2008). Time-Limited Service Alternatives: Using Therapeutic Enactment in Open Group Therapy. The Journal for Specialists in Group Work, 33, 297-316.

A Third Leg In The Strategy Tripod Commerce Essay

A Third Leg In The Strategy Tripod Commerce Essay In recent times strategy has become a major and significant part of international businesses (IB). A strategy is there to help the organisation to achieve its objectives and goals. There are various factors in the industry that multinationals can take to make investment decisions, nevertheless in the international business environment, it has been dominated by both industry and resource base views. A resource base view lies within the company and not on the outside, it also tells us how the company or organisation will deliver a sustainable competitive advantage and how these resources will be controlled and managed in a way that its end results can’t be copied by its competitors and would create a competitive barrier and generate a competitive advantage at a sustainable level Porter 1980).An industry base view is based on a clear understanding of the organisation’s competitive and economic structure, the challenge here is to position the company in a way that it could gain a bigger portion of the profits in the market that the company is operating in and even with new entrants coming into the market place , the organisation should turn its core competencies in an advantage. According to the journal the authors (M.W.Peng, D.Y.L. Wang and Y. Jiang) state that the view of international business strategy emerged through and institution base. They also state that this one of the legs that support and uphold the tripod strategy, and the other two part of the tripod strategy is based on a resource base view and an industry base view. In the journal the authors did a review of four distinct characteristic s or qualities of important research , these four characteristics are :(1)antidumping as entry barriers;(2)competing in and out of India;(3)growing the firm in China and the fourth being governing the corporation in emerging economies. According to the authors they state that there were questions confronting the international business raised by (Peng 2 004a), where he identified emerging nations in Asia to indicate a realistic and intermediate phase during the early and late stages of institution transitions. In the article the authors’ stats two arguments that is based on network strengths and network content. To determine strategy and performance the authors cite (Porters 1980) competitive strategy, which a frame works for industry analysis (Porters Five Force analysis). A third leg in the strategy tripod In the third leg of the strategy tripod the authors state that the industry-base view is rooted in a way the MNE’s strategy is based on certain conditions within the nature of the industry that the company has a focus on. They (authors) also state that with a resource – based view IB concentrate more internally that externally, as most of the value lies within the organisation. With both industry and resource-based views, it still brings up questions to investment locations. In the tripod strategy the autho rs cite (Scot 1995:33) where he define institutions as concrete structures , e.g. buildings and as human capital , including political and social aspects which they state , e.g.corruption,economic liberations and ethical norms , these are a few examples from the article that also affect the stability of markets that MNE’s operate in. Research by (Lawrence & Lorsch , 1969) clearly shows that the dominate part of research is a â€Å"task environment† view , where economic variables were looked at and what the market demand are and a change in technology.(Peng 2008) states that shaping strategies and performance have an impact on both formal and informal institutions.

There is no set topic Essay Example | Topics and Well Written Essays - 500 words - 4

There is no set topic - Essay Example The little Paul is inspired to experiment his luck in gambling because of his mother’s opinion that â€Å"if you’re rich, you may lose your money. But if you’re lucky, you will always get more money†. Once, during the conversation between Paul and his uncle, he speaks about horse races and gambling explicitly and reveals that the gardener is his partner. When the uncle comes to know it instead of correcting Paul, he too becomes a partner. The central point of the story is a wooden horse which Paul believes has some magical effects to make him a winner. Paul gives five thousand pounds of his winnings to his uncle in order to arrange a birthday gift for his mother who always used to blame her misfortune. The story ends with the tragic death of the poor boy that always had a strong affection to his parents. When the uncle asks Paul what he would do with the winning money, he says that he needs to change his mother’s bad luck. This short story best illustrates, how or to what extent family environment affects a kid’s mind. He always hears the desperate words of his mother that can only imbue him with deceptive ideologies. The young boy was disturbed by the incessant whispering he heard even from vacuum; â€Å"there must be more money! There must be more money!† Even though he doesn’t know how to make money, this strong desire to acquire money is deep-rooted in his inner soul. This is the situation when the boy comes to know about horse gambling which gradually perverts him the whole way to the tragic end. The character of Paul’s mother also conveys a great message to the readers of this beautiful story. She is the image of people who always blame others or fate for their failure. They often think that money is the sole factor that brings happiness; and it usually comes due to one’s luck. She expresses this notion openly when Paul asks why they didn’t have a car. Her answer has an adverse effect on Paul as he begins to think that only money can

Who are we to play God Dissertation Example | Topics and Well Written Essays - 750 words

Who are we to play God - Dissertation Example The wonders of the universe and the miracle of life are becoming more known to our civilization now, more so than at any other point in human history. Developments in scientific reasoning and testing have allowed us to determine the underlying theory of many concepts. Technology has made this more efficient and facilitated some of the discoveries that have been made. In particular, one of the fields, which have been called into question due to a combination of religion, ethics, and politics, is in the field of biological engineering and manipulation.This is due to our high technological advancement in being able to accomplish meticulous processes as well as understanding the theory underlying complex biological processes. Stem cell research has been of high debate in this topic. Progressive society dictates that this is a normal step in treating medical disorders and learning more about how to manipulate biological mechanisms, however at what point does the progressive nature of scie nce override our morality and ethics? Although stem cell research has the possibility of sparking a new revolution in biomedical research, it is still important to recognize that there is a line where science and ethics meet, acknowledging that it is not a line that needs to be crossed. Stem cell research is a look into the future where diseases will be eradicated and a new biological science will develop, however there is controversy dealing with: the pros of research, the negative stigmata and ethical concerns of research, and the future of stem cell research as far as the benefits it can bring. Stem cells are a specific form of cell, which can be encoded to perform almost any function of a cell in the human body. They are hard to harvest due to the fact that as adults, there are very limited quantities of stem cells in the body because they have already differentiated, that is changed into the cell they were needed to function as. For scientists, finding an adequate supply of ste m cells was vital in order to keep the research alive therefore they turned to embryos. Embryos have extremely high counts of stem cells, especially in the early stages. This is due to the fact that as an embryo, the growth is occurring at an accelerated rate. Differentiation of different layers and the formation of all the different organ systems in the body requires a large supply of stem cells in order to serve their function in each of the different systems. The one drawback to the method of harvesting stem cells from human embryos is that usually the infant will not survive or there will be permanent biological damage, which could influence the biological development of the infant in a maladaptive way. Therefore, researchers turned to abortion clinics in order to use aborted fetuses to harvest these cells. This is why the topic of stem cell research is so closely tied to that of the debate of Roe vs. Wade, the argument of prochoice and prolife. Stem cell research in the United States has been extremely restricted by the government. There are only specific institutions and sites where this research can be conducted; federal funding of these projects is also limited. This stigma on stem cell research is having repercussions in the medical and biological research fields. Some scientists devote their life work to that of stem cell research, but are unable to pursue the research adequately here in the United States. Therefore, they leave the United States in order to pursue their research in countries where there are not as many restrictions on stem cell research. As a result, there is an increasingly dangerous hemorrhage in the scientific community as they leave to study in other countries. In addition, private companies have tried to take advantage of this situation by providing funding in these biomedical applications to keep scientists here (Brainard 22-25). However, there are movements in legislature, both state and federal, which are pushing for fewer li mitations in stem cell researc

ISM Essay Example | Topics and Well Written Essays - 2000 words

ISM - Essay Example â€Å"There are many ways to define Globalisation. Ruud Lubbets in his article â€Å"Globalisation and Sustainable Development† describes globalisation as â€Å"the phenomenon that the degree of global human interaction increases to such an extent that both its primary effects and the reactions it provokes, give rise to numerous new developments† ( Ali, Winter & May, 2007, p.1). Globalisation is the interaction between economies, technologies and politic A number of companies, increasingly, are looking forward towards breaking the cultural barriers to extend the businesses further in a global environment. This has increased the requirement of the employees to get accustomed to the foreign cultural settings. Apart from that International Marketing training demands a detailed program to make the employees aware of the various theories and practices in the arena of international marketing. The globalisation dreams have presented a new challenge for the firms including the challenge to develop competent managers, able to work in the new environments with more efficiency. With increasing numbers of mergers and acquisitions, the firms are also expected to bring in new employees with different origins, languages and national culture adding more complexities to the different organizational cultures. â€Å"The firms thus need to develop systems and processes not only to train managers for expatriate assignments but also to handle cultural diversity. This task can be achieved by well designed cross-cultural training programs which will help employees in coping up with the stress and cultural shock while dealing with a new culture† (Pande & Krishnan, n.d., p.2). In China, Telmarket would require a culture specific training to make its employees competent enough to deal with the customers with enough respect to Chinese culture and their business environments. After having a review on the respective reviews the following issues have been identified for the cross cultural training. The time factor in the training would require considering two factors including punctuality and relationship dimensions. Some cultures may take more comparatively more time for relationship building while this may not be at all acceptable in others. So, it is of utmost importance to consider Chinese business culture barriers related to time required to be taken care of. In China, there exists a linguistic barrier as Chinese people prefer their language in business contexts (METP, 2008). Adding to it, even the pronunciation is quite different in China, which is required to be taken care of. There are a number of evidences that failing to align the brand name in accordance to the Chinese language made the brands to fail in the Chinese market. So, Telmarket must consider this point with high significance and must train its employees on the linguistic factor. The training program would also include a detailed training regarding the business practices. The b usiness practices may differ in China as they encourage open discussion; although that is required to be done with enough respect to the seniority and old traditions. The training would also require introducing methods and programs to counter stress and to interpret the situations in a positive way. The employees would have to understand the situations on both from their own and from other perspectives. The way to express the

Ethics and HealthSouth Essay Example | Topics and Well Written Essays - 3750 words

Ethics and HealthSouth - Essay Example The case of HealthSouth Corporation is one of those cases where the owner along with others killed the image and essence of the business for earning extra wealth and recognition in the business and social environment. Richard Marin Scrushy is the founder of HealthSouth Corporation; a global health care organization located in Birmingham, Alabama (Bartlett, Donald, 2005). The organization is the largest owner and operator of inpatient rehabilitative hospitals in the nation with great reach in more than 26 states in the country. By the beginning of 2000s, the organization was performing well in the competitive business environment and even recorded $4.5 billion in the year 2003. This made HealthSouth Corporation as one of the most successful health care organizations in the United States. The dawn of 2002 marked the presence of slow down and many expected HealthSouth Corporation to move at a slow pace. However, the organization kept performing at a steady pace that amazed the industry analysts. An investigation by the Federal Bureau of Investigation revealed that Richard Marin Scrushy has been charged for the accounting scandal for falsely exaggerating the company’s earning along with playing with the emotions of shareholders by keeping them in dark. The Security and Exchange Commission of the US charged Scrushy with 36 of the original 85 counts and was acquitted of all charges in 2005. However, cases were filed against him that proved him guilty on charges of manipulation of earnings and accounting fraud affecting the decisions of shareholders. The discussion aims at highlighting the key issues associated with the accounting fraud along with analysing key ethical issues involved in an analytical manner. An Overview of the... From this research it is clear that the accounting fraud surfaced in the year 2002 when Scrushy was accused of selling $75 million of stocks before posting a huge loss that raised a number of questions on the accounting activities of the company. The Security and Exchange Commission of the United States later accused Scrushy for an accounting fraud pertaining to inflation of company’s earnings by $1.4 billion. This was considered as an attempted fraud for misleading the shareholders along with window dressing the financial statements for meeting shareholder’s expectations. The Security and Exchange Commission of the United States stated that Scrushy instructed his top officials and accountants to falsify financial statements in order to stand tall in front of the investor’s expectations. The prices of the share were controlled in an illegal and unethical manner that later proved fatal for the organization and other top officials along with the owner Scrushy. In t he early 2000s, the company’s earnings were inflated by more than 4000% that represented 10% of the total assets of the organization. The organization hired an outside law firm to analyze the stock sale tale of Scrushy but later found that it has nothing to do with the manipulation in the financial statements. In 2003, the Federal Bureau of Investigation executed search warrants and accused Scrushy for more than 80 charges and he was acquitted on 36 charges against him. The ethical and legal stances of the owner and the organization were questioned by the shareholders and stakeholders that went unanswered till 2009.

Identifying and Describing the Ethical Issue. Worldcom Essay

Identifying and Describing the Ethical Issue. Worldcom - Essay Example The company manipulated the company's financial results in order to meet Wall Street expectations and artificially inflate their stock price amidst declining financial performance. Treating operational expenses as capital investments inflated the company's operating income since expenses are supposed to be accounted for in the quarter that they are incurred, instead of being spread out over a period of years. In this case this illegal accounting practice allowed Worldcom to treat operational expenses that should have been fully recognized each operating quarter as a long term capital expenditure, where related costs are expensed during the operating lifetime of a specific asset instead of being accounted for during one specific accounting period. As a result three former Worldcom executives were convicted of accounting fraud. David Myers, the third executive in command and Worldcom's former controller, was convicted to one year and one day in prison. The former controller received a much lesser sentence than the other executives due to his early admission of responsibility and remorse as well as extraordinary cooperation with the government in exposing the extent of the fraud including the major players involved (Cbsnews, 2009).Scott D. Sullivan, Worldcom's former chief financial officer, was convicted to five years in prison as part of a plea agreement in which he testified against the company's CEO Bernard J. Ebbres. Bernard Ebbres was eventually convicted to 25 years in prison for the Worldcom accounting fraud ultimately leading to the company's bankruptcy (Sullivan, 2013). In 2001Worldcom reported $7.7 billion in cash flow from operating activities instead of the true amount of $4.6 billion as a result of misrepresenting $3.8 billion of operational expenses resulting from the Sprint merger. Mr. Sullivan failed to inform Arthur D. Anderson, the firm's accountant at the time, of his decision to treat the expenses as capital expenditures in a clear and blatant attempt to disguise his illegal accounting manipulations from the accounting firm. This deceptive accounting manipulation resulted in the company overstating its EBITDA (earnings before interest, taxes, depreciation and amortization) which is the barometer that most investors utilize to evaluate a company's overall financial health and performance. As the company started the accounting fraud in the first quarter of 2001, Worldcom reported an EBITDA of $2.1 billion instead of $1.4 billion. By the end of 2001 the company had originally reported an EBITDA of $10.5 billion instead of the correct figure of $6.3 billion. Consequently Worldcom reported a profit of $1.4 billion for 2001 and $172 million in the first quarter of 2002, where in reality the company had loses amounting to billions during that accounting period (Eichenwald, 2002). This accounting fraud directly violates the accounting principles of reliability in accounting practice, as well as the â€Å"full disclosure† and the â€Å"matching† principle, where all expenses incurred during an accounting period are matched with the period revenues which it directly affects (Businessweek, 2002). Explaining Alternative Courses of Action and Related Trade-Offs B) Troy Normand, as the manager for the corporate reporting department, was responsible of the accuracy and reliability of corporate financial reports. Based on his testimony and full account of the conversation with Scott Sullivan regarding the events that transpired, we can conclude that Mr. Normand was in full knowledge and understood the implications and illegal nature of the accounting treatment given to the Sprint merger expense accounts. Therefore his actions regarding the treatment of the Sprint expense accounts was both unethical and illegal

Analysis of Claude Monet's Stacks of Wheat Term Paper

Analysis of Claude Monet's Stacks of Wheat - Term Paper Example Monet asserted the cyclical essence of the seasons and of his own creative activity. Notably, he was unbelievably responsive to the nuances of nature (Art Institute of Chicago, 2000). The melting of the snow was a representation of the earth and the features of the background with the sun glowing gently as opposed to glowing angrily. In this series, the stack seems to loom larger than those in Sunset, Snow Effect, but their actual sizes are roughly equal. His main intention was to see the Stacks of the wheat paintings function both independently and as part of the series (Art Institute of Chicago, 2000). The monumental stacks depicted in the paintings arose 15 to 20 feet and stood just outside the artist’s farmhouse at Giverny. The stack-according to Monet-was a resonant symbol of sustenance and survival (Art Institute of Chicago, 2000). The Stack’s association of abundance and of man’s ability to sustain himself and his animals on the richness of the harvest are obvious and compelling. His subsequent series after the 1891 depicted poplars, the facade of Rouen Cathedral, and later his own garden at Giverny. In Monet’s painting, the sun casts a golden orange over the wheat stack. This shadow was a representation of a contemporary color blue-lavender (Art Institute of Chicago, 2000). Although the mundane subject was dominant throughout the series, the outstanding theme of the series was the transience of light. This concept enabled Monet to use repetition to show nuance of perception as series, weather changes and time of the day (Richard, 1987). The dominant subject provided the foundation from which comparisons could be made in changes of light across this series (Art Institute of Chicago, 2000). Traditionally, it has been thought that the motifs in the Monet's Stacks of Wheat Series paintings were just objects utilized to explore how light, color and form changed during the day and in regard to different weather conditions (Richard, 1987).  

Contract law course work Essay Example | Topics and Well Written Essays - 2500 words - 1

Contract law course work - Essay Example given in webster’s Third New International Dictionary, which can be applicable is â€Å"a public administrative agency or corporation having quasi-governmental powers and authorized to administer a revenue – producing public enterprise†. This dictionary meaning of the word â€Å"authority† is clearly wide enough to include all bodies created by statute on which powers are conferred to carry out governmental or quasi governmental functions. But Sec-6(3) is a bit ambiguous on this point. According to the text of the judgment in the House of Lords case ‘YL v Birmingham City Council [2007] UKHL 27’ â€Å" Section 6(3)(b) extends the definition of public authority to cover bodies which are not public authorities but certain of whose functions are of a public nature, and it is therefore likely to include bodies which are not amenable to judicial review. Section 6(1) of the Act said that â€Å"it [was] unlawful for a public authority to act in a way which [was] incompatible with †¦Ã¢â‚¬  any of these rights. The section did not contain any comprehensive definition of â€Å"public authority† but subsection (3)(b) said that a â€Å"public authority† included â€Å"any person certain of whose functions are functions of a public nature†. However subsection (5) said that: The effect of all this is that an act (or an omission) of a private person or company that is incompatible with a Convention right is not unlawful under the 1998 Act (it may, of course, be unlawful under ordinary domestic law) unless the person or company has at least some â€Å"functions of a public nature†; but even if that condition is satisfied the private person or company will not have any liability under the 1998 Act if the nature of the act complained of was private. The argument is based on the alleged similarity of the nature of the function carried on by a local authority in running its own care home and that of a private person running a privately owned care home proves too much. If every contracting

Signal man starts Essay Example for Free

Signal man starts Essay The signal mans edginess and fear is apparent throughout the first meeting between him and the narrator I detected in his eyes some latent fear of me. . The signal man seems to have a deep distrust of the narrator as though he has been taunted or tricked by someone or something you look at me as if you had a dread of me. i was doubtful, he returned, whether i had seen you before. The narrator gos on to say that he had never been there before and says you may swear This makes it perfectly clear that there is something that reader is yet to find out that is deeply troubling the signal man . This distrust seems to be fuelled by the words first spoken between them Helloa below there During the ensuing conversation with the signal man in his signal box the signal man starts to relax more, The reader as well as the narrator is put at ease when entering the signal box there was a fire, a desk for an official book in which he had to make certain entries This tells the reader that this is any normal signal box. The fire cold be interpreted in several ways, one of which could back up the idea that the narrator has descended in to some kind of hell. But i have chosen to interpret it as a warm fire keeping the men warm and safe and providing some light source which would relax the narrator, signal man and reader. It is obvious that the men become more confident around each other by the conversation, the signal man tells the narrator many things he had done in his life, and the mistakes he had made gone down and never risen again. This is referring to his failure as a student of natural philosophy and definitely a supporting reference to the idea that the signal box and railway trench is some kind of hell. The signal man is still constantly on edge even if less so, this is shown by his visits to the door to check the tunnel even when it appears the bell doesnt ring. This at first can be interpreted by the reader and the narrator as conscientiousness but later becomes apparent that this is not the case. The tunnel is a key setting within the hellish atmosphere that dickens tries to create. The tunnel is the setting of every death in the story, it is conveyed as a dark and horrible place saw the wet stains stealing down the walls. The tunnel is also the place where the fiendish spector appears, warning of death and misfortune. The tunnel makes the reader uncomfortable and along with the spector scares, intimidates and intrigues the reader. The narrator mentions that the signal man might be mentally ill shut up within narrow limits all his life and the narrator asks him to seek medical help. But by the end of the story it is apparent that as well as the spector warning of two previous crashes it is also for telling the signal mans own death when he is hit by a train after seeing the spector. This leaves a question though, Is the spector warning the signal man of his death? Or is the spector the psychological killer of the signal man? This dramatic anti climax never allows the reader to relax even after the story has ended, leaving an effective permanent mystery as the story comes to no conclusion of what the spector is, real? Or a figment of the signal mans imagination as he pre-eminences his own death? From the beginning of The man with the twisted lip Arthur Conan Doyle attempts to make the reader plunge in to a personal story of drug addiction, and the ruin of a man, or so it appears at least. This draws the reader in because already they have been familiarised with one of the main characters Isa Whitney. This opening paragraph is effectively used as a mini biography from the narrators opinion some foolish freak.  and for many years he continued to be a slave to the drug this extract is quite emotive and shows how he has been over taken and makes the reader feel empathy for Isa Whitney as they now feel familiar with him almost straight away. The reader is further taken in by Isa Whitneys story during the introduction of his wife Kate Whitney he has not been home for two days . I am so frightened. This is where the story changes from a sad, emotive and personal story to one of mystery and suspense.  A missing persons case has begun. Along with the introduction of Kate Whitney there is also the introduction of the narrator and the familiar to the reader Dr Watson. This familiarises the reader with the text as Watson is a recognized and liked character from the Sherlock Holmes series. Watson sets of to find Isa where he thinks he might be found. The opium den. The setting of the opium den sucks the reader in because This is a dark , dangerous place and an integral part of the London underground scene in the late 1800s that makes the reader feel as though they are having a glimpse in to a whole different world. Doyle actively emphasizes as well as repeating the word strange to convey to the reader that this world or cave is completely foreign to him and that he does not like the surroundings that he has found himself in or feels comfortable in them. A steep flight of stairs leading down to a black gap like the mouth of a cave are the words used top describe the opium den. This is a clever use of a simile, comparing the den to some kind of hellish underworld much like the description of the trench in the signal man. It is now we are introduced to Sherlock Holmes, The main man as such in this series of books and this story. Watson finds him Sat on the floor of the opium den and Holmes reveals that he is apparently undercover I am in the midst of a very remarkable enquiry. This further draws the reader in, because at first the reader has no idea why Holmes is there and can only guess at that he must have been overcome by opium, but it becomes apparent that Holmes has a story to tell and that he is in the midst of something special and very interesting. This creates suspense and further mystery for the reader wanting to know exactly why Holmes is their and the nature of his enquiry. This is also where it becomes apparent that Isa Whitney is not the subject of the enquiry and he is sent home in a cab. This provided a handy twist that further encapsulates the reader in to the story, creating a whole new mystery story not letting the readers mind rest. This is the introduction of the missing persons and murder case of Mr Neville St. Clair.  The introduction of a prison cell to this tale complements the dark and devilish atmosphere created by Doyle in the opium den. With the added introduction of the apparent murderer and beggar The man with the twisted lip. The reader feels as though everything is coming to an end and that they can start to relax, but no. This is where the entire story is turned on its head and it is revealed that this man is in fact Mr Neville St. Clair in disguise, the very man he had been arrested for murdering. This twist in the tale entertains the reader as well as bringing an exciting end to the story. Throughout Doyle has effectively used the raging underground crime scene in London at the time to his advantage, playing on the anxietys, fears and imaginations of 18th century Londoners. In The red room The entire story is written in a first person narrative, This effect encourages the reader to feel not only as if they know the narrator but also that hey are in the room with the narrator experiencing his experiences and feeling his emotions. This technique is used to immerse the reader in to the depths of the text.  Within the first four lines of the story a supernatural mystery is beginning to unravel. eight and twenty years . said I, I have lived, and never a ghost have i seen yet. This is almost a challenge to the residents of the house to proof there is such a thing as ghosts. This challenge is used to excite the reader in to reading on but plays on the the fact that Victorians were still embroiled in a superstitious and religious culture, half way between modern science and ancient superstition as earlier mentioned.

Control risk Essay Example for Free

Control risk Essay The auditor obtains an understanding of the design and implementation of internal Control to make a preliminary assessment of control risk as part of the auditor’s overall Assessment of the risk of material misstatements. The auditor uses this preliminary assessment of control risk to plan the audit for each material class of transactions. However, in some instances the auditor may learn that the control deficiencies are significant such that the client’s financial statements may not be auditable. So, before making a preliminary assessment of control risk for each material class of transactions, the auditor must first decide whether the entity is auditable. Two primary factors determine auditability: the integrity of management and the ade quacy of accounting records. If management lacks integrity, most auditors will not accept the engagement. The accounting records are an important source of audit evidence for most audit objectives. If the accounting records are deficient, necessary audit evidence may not be available. For example, if the client has not kept duplicate sales invoices and vendors’ invoices, it is usually impractical to do an audit. In complex IT environments, much of the transaction information is available only in electronic form without generating a visible audit trail of documents and records. In that case, the company is usually still auditable; however, auditors must assess whether they have the necessary skills to gather evidence that is in electronic form and can assign personnel with adequate IT training and experience. After obtaining an understanding of internal control, the auditor makes a preliminary assessment of control risk as part of the auditor’s overall assessment of the risk of material misstatement. This assessment is a measure of the auditor’s expectation that internal controls will prevent material misstatements from occurring or detect and correct them if they have occurred. The starting point for most auditors is the assessment of entity-level controls. By nature, entity-level controls, such as many of the elements contained in the control environment, risk assessment, and monitoring components, have an overarching impact on most major types of transactions in each transaction cycle. For example, an ineffective board of directors or management’s failure to have any process to identify, assess, or manage key risks, has the potential to undermine controls for most of the transaction-related audit objectives. Thus,  auditors generally assess entity-level controls before assessing transaction specific controls. Once auditors determine that entity-level controls are designed and placed in operation, they next make a preliminary assessment for each transaction-related audit objective for each major type of transaction in each transaction cycle. For example, in the sales and collection cycle, the types of transactions usually involve sales, sales returns and allowances, cash receipts, and the provision for and write-off of uncollectible accounts. The auditor also makes the preliminary assessment for controls affecting audit objectives for balance sheet accounts and presentations Many auditors use a control risk matrix to assist in the control risk assessment process at the transaction level. The purpose is to provide a convenient way to organize assessing control risk for each audit objective. the control risk matrix for transaction-related audit objectives, auditors use a similar control risk matrix format to assess control risk for balance-related and presentation and disclosure-related audit objectives. Identify Audit Objectives The first step in the assessment is to identify the audit objectives for classes of transactions, account balances, and presentation and dis closure to which the assessment applies. For example, this is done for classes of transactions by applying the specific transaction-related audit objectives introduced earlier, which were stated in general form, to each major type of transaction for the entity. For example, the auditor makes an assessment of the occurrence objective for sales and a separate assessment of the completeness objective. Identify Existing Controls Next, the auditor uses the information discussed in the previous section on obtaining and documenting an understanding of internal control to identify the controls that contribute to accomplishing transaction-related audit objectives. One way for the auditor to do this is to identify controls to satisfy each objective. For example, the auditor can use knowledge of the client’s system to identify controls that are likely to prevent errors or fraud in the occurrence transaction-related audit objective. The same thing can be done for all other objectives. It is also helpful for the auditor to use the five control activities (separation of duties, proper authorization,  Adequate documents and records, physical control over assets and records, and Independent checks on performance) as reminders of controls. For example: Is there adequate separation of duties and how is it achieved? Are transactions properly authorized? Are pre-numbered documents properly accounted for? Are key master files properly restricted from unauthorized access? The auditor should identify and include only those controls that are expected to have the greatest effect on meeting the transaction-related audit objectives. These are often called key controls. The reason for including only key controls is that they will be sufficient to achieve the transaction-related audit objectives and also provide audit efficiency. Associate Controls with Related Audit Objectives Each control satisfies one or more related audit objectives. This can be seen for transaction-relatedaudit objectives. The body of the matrix is used to show how each control contributes To the accomplishment of one or more transaction-related audit objectives. In this , a C was entered in each cell where a control partially or fully satisfied an bjective. A similar control risk matrix would be completed for balance-related and presentation and disclosure-related audit objectives. For example, the mailing of statements to customers satisfies three objectives in the audit of Hillsburg Hardware, which is indicated by the placement of each C on the row . Identify and Evaluate Control Deficiencies, Significant Deficiencies, and Material Weaknesses Auditors must evaluate whether key controls are absent in the design of internal control over financial reporting as a part of evaluating control risk and the likelihood of financial statement misstatements. Auditing standards define three levels of the absence of internal controls: 1. Control deficiency. A control deficiency exists if the design or operation of controls does not permit company personnel to prevent or detect mis-statements on a timely basis in the normal course of performing theirassigned functions. A design deficiency exists if a necessary control is missing or not properly designed. An operation deficiency exists if a well-designed control does not operate as designed or if the person performing the control is insufficiently qualified or authorized. 2. Significant deficiency. A significant deficiency exists if one or more control deficiencies exist that is less severe than a material weakness (defined below), but important enough to merit attention by those responsible for oversight of the company’s financial reporting. 3. Material weakness. A material weakness exists if a significant deficiency, by itself, or in combination with other significant deficiencies, results in a reason able possibility that internal control will not prevent or detect material financial statement misstatements on a timely basis. To determine if a significant internal control deficiency or deficiencies are a material weakness, they must be evaluated along two dimensions: likelihood and significance. If there is more than a reasonable possibility (likelihood) that a material misstatement (significance) could result from the significant deficiency or deficiencies, then it is considered a material weakness. A five-step approach can be used to identify deficiencies, significant deficiencies, and Material weaknesses. 1. Identify existing controls. Because deficiencies and material weaknesses are the absence of adequate controls, the auditor must first know which controls exist. The methods for identifying controls have already been discussed. 2. Identify the absence of key controls. Internal control questionnaires, flow charts, and walkthroughs are useful tools to identify where controls are lacking and the likelihood of misstatement is therefore increased. It is also useful to examine the control risk matrix, such as to look for objectives where there are no or only a few controls to prevent or detect misstatements. 3. Consider the possibility of compensating controls. A compensating control is one Elsewhere in the system that offsets the absence of a key control. A common example in a small business is the active involvement of the owner. When a compensating control exists, there is no longer a significant deficiency or material weakness. 4. Decide whether there is a significant deficiency or material weakness. The likelihood of misstatements and their materiality are used to evaluate if there are significant deficiencies or material weaknesses. 5. Determine potential misstatements that could result. This step is intended to identify specific misstatements that are likely to result because of the significant deficiency or material weakness. The importance of a significant deficiency  or material weakness is directly related to the likelihood and materiality of potential misstatements. Associate Significant Deficiencies and Material Weaknesses with Related Audit Objectives The same as for controls, each significant deficiency or material weakness can apply to one or more related audit objectives. In the case of Hillsburg, there are two significant deficiencies, and each applies to only one transaction-related objective. The significant deficiencies are shown in the body of the figure by a D in the appropriate objecti ve column. Assess Control Risk for Each Related Audit Objective After controls, significant deficiencies, and material weaknesses are identified and associated with transaction-related audit objectives, the auditor can assess control risk for transaction related audit objectives. This is the critical decision in the evaluation of internal control. The auditor uses all of the information discussed previously to make a subjective control risk assessment for each objective. There are different ways to express this assessment. Some auditors use a subjective expression such as high, moderate, or low. Others use numerical probabilities such as 1.0, 0.6, or 0.2. Again, the control risk matrix is a useful tool for making the assessment. This assessment is not the final one. Before making the final assessment at the end of the integrated audit, the auditor will test controls and perform substantive tests. These Procedures can either support the preliminary assessment or cause the auditor to make changes. In some cases, management can correct deficiencies and material weaknesses before the auditor does significant testing, which may permit a reduction in control risk. After a preliminary assessment of control risk is made for sales and cash receipts, the auditor can complete the three control risk rows of the evidence-planning worksheet . If tests of controls results do not support the preliminary assessment of control risk, the auditor must modify the worksheet later. Alternatively, the auditor can wait until tests of controls are done to complete the three control risk rows of the worksheet. As part of understanding internal control and assessing control risk, the auditor is required to communicate certain matters to those charged with governance. This Information and other recommendations about controls are also often communicated to management. Communications to Those  Charged With Governance The auditor must communicate significant deficiencies and material weaknesses in writing to those charged with governance as soon as the auditor becomes aware of their existence. The communication is usually addressed to the audit committee and to management. Timely communications may provide management an opportunity to address control deficiencies before management’s report on internal control must be issued. In some instances, deficiencies can be corrected sufficiently early such that both management and the auditor can conclude that controls are operating effectively as of the balance sheet date. Regardless, these communications must be made no later than 60 days following the audit report release. Management Letters In addition to these matters, auditors often identify less significant internal control-related issues, as well as opportunities for the client to make operational improvements. These should also be communicated to the client. The form of communication is often a separate letter for that purpose, called a management letter. Although management letters are not required by auditing standards, auditors generally prepare them as a value-added service of the audit. Test of controls We’ve examined how auditors link controls, significant deficiencies, and material Weaknesses in internal control to related audit objectives to assess control risk for each objective. Now we’ll address how auditors test those controls that are used to support a control risk assessment. For example, each key control that the auditor intends to rely on to support a control risk of medium or low must be supported by sufficient tests of controls. We will deal with tests of controls for both audits of internal control for financial reporting and audits of financial statements. Assessing control risk requires the auditor to consider both the design and operation of controls to evaluate whether they will likely be effective in meeting related audit objectives. During the understanding phase, the auditor will have already gathered some evidence in support of both the design of the controls and their implementation by using procedures to obtain an understanding . In most cases, the auditor will not have gathered  enough evidence to reduce assessed control risk to a sufficiently low level. The auditor must therefore obtain additional evidence about the operating effectiveness of controls throughout all, or at least most, of the period under audit. The procedures to test effectiveness of controls in support of a reduced assessed control risk are called tests of controls. If the results of tests of controls support the design and operation of controls as expected, the auditor uses the same assessed control risk as the preliminary assessment. If, however, the tests of controls indicate that the controls did not operate effectively, the assessed control risk must be reconsidered. For example, the tests may indicate that the application of a control was curtailed midway through the year or that the person applying it made frequent misstatements. In such situations, the auditor uses a higher assessed control risk, unless compensating controls for the same related audit objectives are identified and found to be effective. Of course, the auditor must also consider the impact of those controls that are not operating effectively on the auditor’s Report on internal control. Procedures for Tests of Controls The auditor is likely to use four types of procedures to support the operating effectiveness of internal controls. Management’s testing of internal control will likely include the same types of procedures. The four types of procedures are as follows: 1. Make inquiries of appropriate client personnel. Although inquiry is not a highly reliable source of evidence about the effective operation of controls, it is still appropriate. For example, to determine that unauthorized personnel are denied access to computer files, the auditor may make inquiries of the person who controls the computer library and of the person who controls online access security password assignments. 2. Examine documents, records, and reports. Many controls leave a clear trail of documentary evidence that can be used to test controls. Suppose, for example, that when a customer order is received, it is used to create a customer sales order, which is approved for credit. Then the customer order is attached to the sales order as authorization for further processing. The auditor can test the control by examining the documents to make sure that they are complete and properly matched and that required signatures or initials are present. 3. Observe control-related  activities. Some controls do not leave an evidence trail, which means that it is not possible to examine evidence that the control was executed at a later date. For example, separation of duties relies on specific persons performing specific tasks, and there is typically no documentation of the separate performance. For controls that leave no documentary evidence, the auditor generally observes them being applied at various points during the year. 4. Reperform client procedures. There are also control-related activities for which there are related documents and records, but their content is insufficient for the auditor’s purpose of assessing whether controls are operating effectively. For example, assume that prices on sales invoices are obtained from the master price list, but no indication of the control is documented on the sales invoices. In these cases, it is common for the auditor to reperform the control activity to see whether the proper results were obtained. For this example, the auditor can re perform the procedure by tracing the sales prices to the authorized price list in effect at the date of the transaction. If no misstatements are found, the auditor can conclude that the procedure . Extent of Procedures The extent to which tests of controls are applied depends on the preliminary assessed control risk. If the auditor wants a lower assessed control risk, more extensive tests of controls are applied, both in terms of the number of controls tested and the extent of the tests for each control. For example, if the auditor wants to use a low assessed control risk, a larger sample size for documentation, observation, and re performance procedures should be applied. The extent of testing also depends on the frequency of the operation of the controls, and whether it is manual or automated. Reliance on Evidence from the Prior Year’s Audit When auditors plan to use evidence about the operating effectiveness of internal control obtained in prior audits, auditing standards require tests of the controls’ effectiveness at least every third year. If auditors determine that a key control has been changed since it was last tested, they should test it in the current year. When there are a number of controls tested in prior audits that have not been changed, auditing standards  require auditors to test some of those controls each year to ensure there is a rotation of controls testing throughout the three year period. Testing of Controls Related to Significant Risks Significant risks are those risks that the auditor believes require special audit consideration. When the auditor’s risk assessment procedures identify significant risks, the auditor is required to test the operating effectiveness of controls that mitigate these risks in the current year audit, if the auditor plans to rely on those controls to support a control risk assessment below 100%. The greater the risk, the more audit evidence the auditor should obtain that controls are operating effectively. Testing Less Than the Entire Audit Period Recall that management’s report on internal control deals with the effectiveness of internal controls as of the end of the fiscal year. PCAOB Standard 5 requires the auditor to perform tests of controls that are adequate to determine whether controls are operating effectively at year-end. The timing of the auditor’s tests of controls will therefore depend on the nature of the controls and when the company uses them. For controls that are applied throughout the accounting period, it is usually practical to test them at an interim date. The auditor will then determine later if changes in controls occurred in the period not tested and decide the implication of any change. Controls dealing with financial statement preparation occur only quarterly or at year-end and must therefore also be tested at quarter and year-end. Relationship between Tests of Controls and Procedures to Obtaining Understanding There is a significant overlap between tests of controls and procedures to obtain an understanding. Both include inquiry, documentation, and observation. There are two primary differences in the application of these common procedures. 1. In obtaining an understanding of internal control, the procedures to obtain an understanding are applied to all controls identified during that phase. Tests of controls, on the other hand, are applied only when the assessed control risk has not been satisfied by the procedures to obtain an understanding. 2. Procedures to obtain an  understanding are performed only on one or a few transactions or, in the case of observations, at a single point in time. Tests of controls are performed on larger samples of transactions (perhaps 20 to 100), and often, observations are made at more than one point in time. For key controls, tests of controls other than re performance are essentially an Extension of procedures to obtain an understanding. Therefore, assuming the auditors plan to obtain a low assessed control risk from the beginning of the integrated audit, they will likely combine both types of procedures and perform them simultaneously. One option is to perform the audit procedures separately, where minimum procedures to obtain an understanding of design and operation are performed, followed by additional tests of controls. An alternative is to combine both columns and do them simultaneously. The same amount of evidence is accumulated in the second approach, but more efficiently. The determination of the appropriate sample size for tests of controls is an important audit decisions. Detection risk and the design of substantive tests We’ve focused on how auditors assess control risk for each related audit objective and support control risk assessments with tests of controls. The completion of these activities is sufficient for the audit of internal control over financial reporting, even though the report will not be finalized until the auditor completes the audit of financial statements. The auditor uses the control risk assessment and results of tests of controls to determine planned detection risk and related substantive tests for the audit of financial statements. The auditor does this by linking the control risk assessments to the balance related audit objectives for the accounts affected by the major transaction types and to the four presentations and disclosure audit objectives. The appropriate level of detection risk for each balance-related audit objective is then decided using the audit risk model. The relationship of transaction-related audit objectives to balance-related audit objectives and the selection and design of audit procedures for substantive tests of financial statement. Types of test In developing an overall audit plan, auditors use five types of tests to determine whether financial statements are fairly stated. Auditors use risk  assessment procedures to assess the risk of material misstatement, represented by the combination of inherent risk and control risk. The other four types of tests represent further audit procedures performed in response to the risks identified. Each audit procedure falls into one, and sometimes more than one, of these five categories. Figure 13-1 shows the relationship of the four types of further audit procedures to the audit risk model. As Figure 13-1 illustrates, tests of controls are performed to support a reduced assessment of control risk, while auditors use analytical procedures and tests of details of balances to satisfy planned detection risk. Substantive tests of transactions affect both control risk and planned detection risk, because they test the effectiveness of internal controls and the dollar amounts of transactions. Risk Assessment Procedures TThe second standard of fieldwork requires the auditor to obtain an understanding of the entity and its environment, including its internal control, to assess the risk of material misstatement in the client’s financial statements. Risk assessment procedures are performed to assess the risk of material misstatement in the financial statements. The auditor performs tests of controls, substantive tests of transactions, analytical procedures, and tests of details of balances in response to the auditor’s assessment of the risk of material misstatements. The combination of these our types of further audit procedures provides the basis for the auditor’s opinion, as illustrated by Figure 13-1. A major part of the auditor’s risk assessment procedures are done to obtain an Understanding of internal control. Procedures to obtain an understanding of internal control were studied and focus on both the design and implementation of internal control and are used to assess control risk for each transaction-related audit objectively Tests of Controls EThe auditor’s understanding of internal control is used to assess control risk for each transaction-related audit objective. Examples are assessing the accuracy objective for sales transactions as low and the occurrence objective as moderate. When control policies and procedures are believed to be effectively designed, the auditor assesses control risk at a level that reflects the relative effectiveness of those controls. To obtain sufficient  appropriate evidence to support that assessment, the auditor performs tests of controls.S Tests of controls, either manual or automated, may include the following types of evidence. (Note that the first three procedures are the same as those used to obtain an understanding of internal control.) †¢ Make inquiries of appropriate client personnel †¢ Examine documents, records, and reports †¢ Observe control-related activities †¢ Reperform client procedures Auditors perform a system walkthrough as part of procedures to obtain an under standing to help them determine whether controls are in place. The walkthrough is normally applied to one or a few transactions and follows that transaction through the entire process. For example, the auditor may select one sales transaction for a system walk through of the credit approval process, then follow the credit approval process from initiation of the sales transaction through the granting of credit. Tests of controls are also used to determine whether these controls are effective and usually involve testing a sample of transactions. As a test of the operating effectiveness of the credit approval process, for example, the auditor might examine a sample of 50 sales transactions from throughout the year to determine whether credit was granted before the shipment of goods. Procedures to obtain an understanding of internal control generally do not provide sufficient appropriate evidence that a control is operating effectively. An exception may apply for automated controls because of their consistent performance. The auditor’s procedures to determine whether the automated control has been implemented may also serve as the test of that control, if the auditor determines there is minimal risk that the automated control has been changed since the understanding was obtained. Then, no additional tests of controls would be required. The amount of additional evidence required for tests of controls depends on two things: 1. The extent of evidence obtained in gaining the understanding of internal control 2. The planned reduction in control risk Figure 13-2 (p. 406) shows the role of tests of controls in the audit of the sales and collection cycle relative to other tests performed to provide  sufficient appropriate evidence for the auditor’s opinion. Note the un shaded circles with the words â€Å"Audited by TOC.† For simplicity, we make two assumptions: Only sales and cash receipts trans actions and three general ledger balances make up the sales and collection cycle and the beginning balances in cash and accounts receivable were audited in the previous year and are considered correct. If auditors verify that sales and cash receipts transactions are correctly recorded in the accounting records and posted to the general ledger, they can conclude that the ending balances in accounts receivable and sales are correct. (Cash disbursements transactions will OF have to be audited before the auditor can reach a conclusion about the ending balance in the cash account.) One way the auditor can verify recording of transactions is to perform tests of controls. If controls are in place over sales and cash receipts transactions, the auditor can perform tests of controls to determine whether the six transaction-related audit objectives are being met for that cycle. Substantive tests of transactions, which we will examine in the next section, also affect audit assurance for sales and cash receipts transactions. Substantive Tests of TransactionsSTS Substantive tests are procedures designed to test for dollar misstatements (often called monetary misstatements) that directly affect the correctness of financial statement balances. Auditors rely on three types of substantive tests: substantive tests of transactions, substantive analytical procedures, and tests of details of balances. Substantive tests of transactions are used to determine whether all six transactions related audit objectives have been satisfied for each class of transactions. Two of those objectives for sales transactions are recorded sales transactions exist (occurrence objective) and existing sales transactions are recorded (completeness objective for the six transaction-related audit objectives. When auditors are confident that all transactions were correctly recorded in the journals and correctly posted, considering all six transaction-related audit objectives, they can be confident that general ledger totals are correct. Figure 13-2 illustrates the role of substantive tests of transactions in the audit of the sales and collection cycle by lightly shaded circles with the words â€Å"Audited by STOT.† Observe that both tests of controls and substantive tests of transactions are performed for transactions in the cycle, not on the ending account  balances. The auditor verifies the recording and summarizing of sales and cash receipts transactions by performing substantive tests of transactions. Figure 13-2 shows one set of tests for sales and another for cash receipts. Analytical Procedures analytical procedures involve comparisons of recorded amounts to expectations developed by the auditor. Auditing standards require that they be done during planning and completing the audit. Although not required, analytical procedures may also be performed to audit an account balance. The two most important purposes of analytical procedures in the audit of account balances are to: 1. Indicate possible misstatements in the financial statements 2. Provide substantive evidence Analytical procedures done during planning typically differ from those done in the testing phase. Even if, for example, auditors calculate the gross margin during planning, they probably do it using interim data. Later, during the tests of the ending balances, they will recalculate the ratio using full-year data. If auditors believe that analytical procedures indicate a reasonable possibility of misstatement, they may perform additional analytical procedures or decide to modify tests of details of balances. When the auditor develops expectations using analytical procedures and concludes that the client’s ending balances in certain accounts appear reasonable, certain tests of details of balances may be eliminated or sample sizes reduced. Auditing standards state that analytical procedures are a type of substantive test (referred to as substantive analytical procedures), when they are performed to provide evidence about an account balance. The Extent to which auditors may be willing to rely on substantive analytical procedures in support of an account balance depends on several factors, including the precision of the expectation developed by the auditor, materiality, and the risk of material misstatement. Figure 13-2 illustrates the role of substantive analytical procedures in the audit of the sales and collection cycle by the dark shaded circles with the words â€Å"Audited by AP.† Observe that the auditor performs substantive analytical procedures on sales and Cash receipts transactions, as well as on the ending balances of the accounts in the cycle. Tests of Details of Balances Tests of details of balances focus on the ending general ledger balances for both balance sheet and income statement accounts. The primary emphasis in most tests of details of balances is on the balance sheet. Examples include confirmation of customer balances for accounts receivable, physical examination of inventory, and examination of vendors’ statements for accounts payable. Tests of ending balances are essential because the evidence is usually obtained from a source independent of the client, which is considered highly reliable. Much like for transactions, the auditor’s tests of details of balances must satisfy all balance-related audit objectives for each significant balance sheet account. Figure 13-2 illustrates the role of tests of details of balances by the circles with half dark and half light shading and the words â€Å"Audited by TDB.† Auditors perform detailed tests of the ending balances for sales and accounts receivable, including procedures such as confirmation of account receivable balances and sales cutoff tests. The extent of these tests depends on the results of tests of controls, substantive tests of transactions, and substantive analytical procedures for these accounts. Tests of details of balances help establish the monetary correctness of the accounts they relate to and therefore are substantive tests. For example, confirmations test for monetary misstatements in accounts receivable and are therefore substantive tests. Similarly, counts of inventory and cash on hand are also substantive tests. OSelect the appropriate types of audit tests Typically, auditors use all five types of tests when performing an audit of the financial statements, but certain types may be emphasized, depending on the circumstances. Recall that risk assessment procedures are required in all audits to assess the risk of material misstatement while the other four types of tests are performed in response to the risks identified to provide the basis for the auditor’s opinion. Note also that only risk assessment procedures, especially procedures to obtain an understanding of controls, and tests of controls are performed in an audit of internal control over financial reporting. Several factors influence the auditor’s choice of the types of tests to select, including the availability of the eight types of evidence, the relative costs of each type of test, the effectiveness of  internal controls, and inherent risks. Only the first two are discussed further because the last two were discussed in earlier chapters. Availability of Types of Evidence for Further Audit Procedures OEach of the four types of further audit procedures involves only certain types of evidence (confirmation, documentation, and so forth. †¢ More types of evidence, six in total, are used for tests of details of balances than for any other type of test. †¢ Only tests of details of balances involve physical examination and confirmation. †¢ Inquiries of the client are made for every type of test. †¢ Documentation is used in every type of test except analytical procedures. †¢ Re performance is used in every type of test except analytical procedures. Auditors may re perform a control as part of a transaction walkthrough or to test a control that is not supported by sufficient documentary evidence. †¢ Recalculation is used to verify the mathematical accuracy of transactions when per forming substantive test of transactions and account balances when per forming tests of details of balances. Relative Costs When auditors must decide which type of test to select for obtaining sufficient appropriate evidence, the cost of the evidence is an important consideration. The types of tests are listed below in order of increasing cost: †¢ Analytical procedures †¢ Risk assessment procedures, including procedures to obtain an understanding of internal control †¢ Tests of controls †¢ Substantive tests of transactions †¢ Tests of details of balances Analytical procedures are the least costly because of the relative ease of making calculations and comparisons. Often, considerable information about potential misstatements can be obtained by simply comparing two or three numbers. Risk assessment procedures, including procedures to obtain an understanding of internal control, are not as costly as other audit tests because auditors can easily make inquiries and observations and perform planning analytical procedures. Also, examining such things as documents  summarizing the client’s business operations and processes and management and governance structure are relatively cheaper than other audit tests. Because tests of controls also involve inquiry, observation, and inspection, their relative costs are also low compared to substantive tests. However, tests of controls are more costly relative to the auditor’s risk assessment procedures due to a greater extent of testing required to obtain evidence that a control is operating effectively, especially when those tests of controls involve re performance. Often, auditors can perform a large number of tests of controls quickly using audit software. Such software can test controls in clients’ computerized accounting systems, such as in computerized accounts receivable systems that automatically authorize sales to existing customers by comparing the proposed sales amount and existing accounts receivable balance with the customer’s credit limit. Substantive tests of transactions cost more than tests of controls that do not include re performance because the former often require recalculations and tracings. In a computerized environment, however, the auditor can often perform substantive tests of transactions quickly for a large sample of transactions. Tests of details of balances almost always cost considerably more than any of the Other types of procedures because of the cost of procedures such as sending confirmations and counting inventories. Because of the high cost of tests of details of balances, auditors usually try to plan the audit to minimize their use. Naturally, the cost of each type of evidence varies in different situations. For example, the cost of an auditor’s test-counting inventory (a substantive test of the details of the inventory balance) often depends on the type and dollar value of the Inventory, its location, and the number of different items. Relationship between Tests of Controls and Substantive Tests To better understand tests of controls and substantive tests, let’s examine how they differ. An exception in a test of control only indicates the likelihood of misstatements affecting the dollar value of the financial statements, whereas an exception in a substantive test of transactions or a test of details of balances is a financial statement misstatement. Exceptions in tests of controls are called control test deviations. From the three levels of control deficiencies: deficiencies, significant deficiencies, and  material weaknesses. Auditors are most likely to believe material dollar misstatements exist in the financial statements when control test deviations are considered to be significant deficiencies or material weaknesses. Auditors should then perform substantive tests of transactions or tests of details of balances to determine whether material dollar misstatements have actually occurred. Assume that the client’s controls require an independent clerk to verify the quantity, price, and extension of each sales invoice, after which the clerk must initial the duplicate invoice to indicate performance. A test of control audit procedure is to inspect a sample of duplicate sales invoices for the initials of the person who verified the information. If a significant number of documents lack initials, the auditor should consider implications for the audit of internal control over financial reporting and follow up with substantive tests for the financial statement audit. This can be done by extending tests of duplicate sales invoices to include verifying prices, extensions, and footings (substantive tests of transactions) or by increasing the sample size for the confirmation of accounts receivable (substantive test of details of balances). Even though the control is not operating effectively, the invoices may still be correct, especially if the person originally preparing On the other hand, if no documents or only a few of them are missing initials, the control will be considered effective and the auditor can therefore reduce substantive tests of transactions and tests of details of balances. However, some re performance and recalculation substantive tests are still necessary to provide the auditor assurance that the clerk did not initial documents without actually performing the control procedure or performed it carelessly. Because of the need to complete some re performance and recalculation tests, many auditors perform them as a part of the original tests of controls. Others wait until they know the results of the tests of controls and then determine the total sample size needed. Relationship between Analytical Procedures and Substantive Tests Like tests of controls, analytical procedures only indicate the likelihood of misstatements affecting the dollar value of the financial statements. Unusual fluctuations in the relationships of an account to other accounts, or to nonfinancial information, may indicate an increased likelihood that material misstatements exist without necessarily providing direct evidence of a  material misstatement. When analytical procedures identify unusual fluctuations, auditors should perform substantive tests of transactions or tests of details of balances to determine whether dollar misstatements have actually occurred. If the auditor performs substantive analytical procedures and believes that the likelihood of material misstatement is low, other substantive tests can be reduced. For accounts with small balances and only minimal potential for material misstatements, such as many supplies and prepaid expense accounts, auditors often limit their tests to substantive analytical procedures if they conclude the accounts are reasonably stated. Trade-Off between Tests of Controls and Substantive Tests There is a trade-off between tests of controls and substantive tests. During planning, auditors decide whether to assess control risk below the maximum. When they do, they must then perform tests of controls to determine whether the assessed level of control risk is supported. (They must always perform test of controls in an audit of internal control over financial reporting.) If tests of controls support the control risk assessment, planned detection risk in the audit risk model is increased, and planned substantive tests can therefore be reduced. Figure 13-3 shows the relationship between substantive tests and control risk assessment (including tests of controls) at differing levels of internal control effectiveness Impact of information technology on audit testing Auditing standards provide guidance for auditors of entities that transmit process, maintain, or access significant information electronically. Examples of electronic evidence include records of electronic fund transfers and purchase orders transmitted through electronic data interchange (EDI). Evidence of the performance of automated controls, such as the computer’s comparison of proposed sales orders to customer credit limits, may also only be in electronic form. The standards recognize that when a significant amount of audit evidence exists in electronic form, it may not be practical or possible to reduce detection risk to an acceptable level by performing only substantive tests. For example, the potential for improper initiation or alteration of information may be greater if information is maintained only in electronic form. In these circumstances, the auditor should perform  tests of controls to gather evidence in support of an assessed level of control risk below maximum for the affected financial statement assertions. Although some substantive tests are still required, the auditor can significantly reduce substantive tests if the results of tests of controls support the effectiveness of controls. In the audit of a larger public company, computer-performed controls (these are called automated controls) must be tested if the auditor considers them to be key controls for reducing the likelihood of material misstatements in the financial statements. Because of the inherent consistency of IT processing, however, the auditor may be able to reduce the extent of testing of an automated control. For example, software based control is almost certain to function consistently unless the program is changed. Once auditors determine an automated control is functioning properly, they can focus subsequent tests on assessing whether any changes have occurred that will limit the effectiveness of the control. Such tests might include determining whether any changes have occurred to the program and whether these changes were properly authorized and tested prior to implementation. This approach leads to significant audit efficiencies when the auditor determines that automated controls tested in the prior year’s audit have not been changed and continue to be subject to effective general controls. To test automated controls or data, the auditor may need to use computer-assisted audit techniques or use reports produced by IT to test the operating effectiveness of IT general controls, such as program change controls and access controls. In many cases, testing of automated controls may be performed by IT audit specialists. When auditors test manual controls that rely on IT-generated reports, they must consider both the Effectiveness of management’s review and automated controls over the accuracy of Information in the report.

From hierarchy to teamwork leading the change

From hierarchy to teamwork leading the change Introduction: Leadership is an essential issue not only in the business environment, but also in all aspects of the human being life. Leadership is essential whether you are a leader of a team or are a single owner with no one working for you. Successful leadership, in matter of truth is a process of thinking; also, it is a route to make things done. Thriving entrepreneurs of today should possess and give out successful leadership skills. Moreover, managers are adept at maintaining the importance of such firm going on and add safety to the said firms, but unfortunately do not make for successful entrepreneurs. Leaders as well as successful entrepreneurs are good at inspiring peoples emotions, raising their expectations, plus taking them in different directions. However, effective leadership should be given off skills always constantly. Leaders are the ones who make things done. Furthermore, A few outstanding leaders function as having professional will in addition to personal humility. They have the commitment to produce whatever it takes to establish an enduring organization. They bear responsibility for the failures. Furthermore, they act on excellent standards; they are humble, let others responsible for the credit moreover, they are not egotistical. Therefore, most persons do not include the nature or instincts gain the life experiences tog to be a top Leadership, on other words, numerous people may receive the ability to improve themselves as to get leaders that are more powerful. However, it is further believed by many, for the most part that Working in teams is often more impressive than working with the earlier style bureaucratic management. This has been effectively demonstrated by first the Japanese experience, moreover, later in more countries around the world. However, the transition from hierarchy to teamwork requires the analysis and practice of the principles of team style management. Definition of Leadership: Leadership can be defined as the potential to influence more people to achieve things. A leader teaches by example and motivates others to observe their actions. A leader looks for other opportunities and is ready to switch their status quo. A leader has the capacity to reach people feel right about what they are doing and helps people think as the work they are accomplishing is working towards the larger objective of the corporation. On the other hand, a leader challenges someone to look beyond his or her base level of performance and action to their highest potential; they struggle to make the optimum out of their employees. Therefore, a leader is a person who recognizes accomplishment as well as properly rewards for accomplishments. Thus, One of the most fundamental aspects of a leader is they treat mistakes same as learning experiences. Leadership Aspects: Challenge the process: A leader searches for easier, additional effective ways to achieve goals, rather than compromising for the age-old manner of doing something. Moreover, leaders are innovative and testing to discover alternative ways of doing things. Inspiring: Leaders efficiently communicate organizational goals towards employees so people realize what is expected of them. Furthermore, they offer people a valid cause to make their jobs by expressing how valuable their work is plus how it helps the company as a whole. They motivate and energize workers and make them faith to perform their job. Modeling: An effective leader teaches by example. Besides, Leaders work with the highest standards and require others to perform to those standards as well. Additionally, they set forward a high-level application and expect a high-level effort from those around them. Personal Leadership Characteristics: Leader should believe that he personally has many superior leadership characteristics. Such like, he has to be honest, hard working, as well as perceptive. In addition, He tends to lead by example, letting others see how strong he works in addition to the level he holds himself to as an example of the class others should want to work towards as well. Likewise, he tends to remain very adept at recognizing peoples feelings about things. Supplementary, he can often tell if someone does not enjoy doing something and try to assist them discover ways to give it more enjoyable. At the identical time, also we find with the purpose that he is innovative in that he usually looks for the easiest means of doing things. Consequently, if a process is in place along with there is a faster or else more reliable method of generating the identical results he can usually obtain it. As well, he should think that he have a superior ability to analyze problems and follow up with solutions to them. In the addition of that and from the widespread, that he would say that to avoid his weaknesses such as the potential to peer. Besides, he should be good at pointing out problems with something also, then expressing those problems for the person who is responsible. However, he should tend to constantly watch for the best things furthermore skip over the bad ones. Thus, this could lead to other long-term problems for that the reason of the problem areas may go uncorrected. Hierarchy Leadership: Hierarchy is a reality in organizations. While many advocates for flatness in organizations, it is ultimately a comparable term, someone is however in charge. Therefore, the buck stops somewhere, in addition to the buck usually has clear channels it passes through before it stops. This is hierarchy. Thus, think the pyramid. Therefore, in a hierarchical system, a little number exists at the top leadership, and the others are apparently working their way through their careers so they can get to getting higher on the pyramid. Leadership development, therefore, is finding people in the bottom parts of the pyramid and grooming them for slots in the top at either your organization or another. On other words, this means picking star performers and making certain they experience the opportunities to extend their leadership skills. However, we can find with the intention of, in several areas of the pyramid comes into play again. Therefore, Leadership development takes your non-leaders and makes a new pyramid out of them, selecting only the head of the sub-pyramid for development. Therefore, we can certainly get so as to numerous practice it for either or what was mentioned early but as giving people the possibility to develop their horizons, present to the Board, take on different projects, etc. on separate words, it is appropriate to look beyond star performers. For example, if leader said that he barely had occasion to actually focus his mentoring attention on two to three people out of his entire team that might be fine if it is within his pyramid. Furthermore, we can add with the purpose that Introspection is fine, but it still will not enable any more than three or four to get the leaders attention. Thus, you desire to develop mechanisms and structures so more people can see the assistance they require to improve leadership within their present roles. Therefore, and as we mentioned earlier, that Operating exclusively within the pyramid structure inhibits this, but it is not seen that people experimenting outside of this paradigm. Leadership Development Hierarchy: It was developed to assist those we coach understand the connection of self-awareness, authenticity, interpersonal effectiveness, purpose, vision, as well as values to their journey of personal leadership development. Therefore, the hierarchy is a conceptual construct that represents the different stages or levels an individual can go through to develop themselves same as successful plus fulfilled leaders within the context of their values, purpose in addition to personal vision. The construct theorizes that people will be more appropriate as leaders if they first achieve enough of the requirements of a lower level before ascending toward higher levels of the hierarchy. On other words, those of us who have observed leadership development along with studied the research in the direction of emotional intelligence are suggesting that leaders who have the emotional maturity will perform better at the higher levels of task demand in addition to complexity than those who make not include the minor levels satisfied. For example, one will be better able to present an organization vision if they have high self-awareness, authenticity as well as interpersonal effectiveness. The Leadership Development Hierarchy is a model that helps people to view a view of the journey they will experience it as if they develop themselves. Therefore, it also facilitates the participants capacity to better manage their learning experiences. Those of us who design and deliver leadership development programs can utilize the hierarchy to certify in addition to categorize content. We also can combine the scope along with the sequence of our instructional design along with the Leadership Development Hierarchy. There are particular chunks of material in addition to experiences that are used to support our learners work throughout each of the levels of the hierarchy. Therefore, coaches of leaders, our job is to design and facilitate a procedure that allows people to have deep individual experiences that lead to move to self-discovery as well as insight. This includes adapting moreover using teaching methods as closely as tools that will assist people learn to tap into their intellectual in addition to emotional skills to get themselves as successful leaders. Only then are we really helping people on their drive to get a level five leader. Leadership as Teamwork: Developing collaboration crosswise an organization necessitates so as to leaders acquire a systems approach toward projects. Furthermore, that means such organization stares at projects at the previously mentioned time as a system of regular activities to cooperate to perform a known objective. Consequently, the general objective is on the means to compliment the entire strategy of such organization. Frequently, every projects sketch as of one source pool, consequently they interconnect while they contribute to the relative resources. For that reason, the process of said projects is itself a project in general, by means of the little main projects being the actions to lead to the bigger project aim. Therefore, as we can say with the aim of it obviously shows that whichever is deficient in of leadership cooperation resonates all the way throughout such organization. Whether leaders do not model preferred behaviors, there is modest expect with the intention of the rest of such organization preserve do it on behalf of them. Whichever is deficient in of leadership support will certainly be replicated in the completion of project teams, and there is little with the role of project managers alone are able to diagnose the problems to arise. Moreover, as we can investigate further on the above subject that a team impression is a single method used by such organization toward institute a strategic bearing for projects on both sides of organizational boundaries. More commonly than not its position is in the process to give directions, handle numerous projects otherwise a selection of projects, and assist within cross-organizational concern resolution. It is due to the earliest faith with the aim that one example by the side of Such organization was a cross-organizational leadership team pulled in concert in the direction of resolve architectural concerns in favor of a current type of business industry. Nevertheless, Entity project teams were optimizing resolutions on the process to provide their objectives. However, it is further believed by many, for the most part in Individual project manager for the organization such organization obtained the proposal on the track to produce together a leadership team. Besides, the team acknowledged ownership toward resolution at the set of consistent matters. For that reason, It primary recognized a set of key concerns and limits on the direction to indicate the study teams. Additionally, once numerous issues bogged downward, it endorsed an appreciation pathway toward two managers who would pay attention in the direction of the use of views and formulate resolutions. As we can say with the purpose of when it is said so as for the reason that of the incredible collision on top of time-to-market of projects needy on the result. The leadership team kept back appropriate stress on makes steps forward. Later, they paid heed to recommendations commencing an exposition breakdown and took action on recommended enhancements, applying them on the way to following projects that were commenced to determine other issues. Additionally, In excess of time the progression enhanced considerably and showed the path to condensed fretfulness concerning the disorganized condition of the manner. It is outstanding to the most ancient faith with intend of this methodical come within the scope of demonstrate the enormous and serious pressure of leadership collective effort on project achievement. Likewise, gradually more apparent are companies who set up portfolio assortment committees. On the separate hand, within this way leaders and project managers make up the collaborative visualization as a result that essential intended for implementation of strategy for such organization. Leading the Change: Such progression of change is obsessed by means of definite structural transformations that are expected to figure the circumstances of economic and business modify in the predictable prospect. Nevertheless, in our case, such organization, it means of the strong facial appearance that we have to commence our investigation of the starting places and disputes of enterprise transformation. Consequently, the talented economic and business surroundings engaged the development of an economic structure that is knowledge motivated, it is worldwide, and it is set-up. Nonetheless, it is knowledge motivated for the reason that the competitiveness and productivity of economic organizations lying upon their capability toward produce procedure and concern professionally awareness geared toward improvement. It is comprehensive for the reason that the key progressions of production, in such organization, movement and consumption are prearranged on a comprehensive level throughout practical connection along with technical, organizational and systematic structures. In addition, it is set-up for the reason that productivity is produced throughout and the contest is controlled approximately a comprehensive network of interface among industry networks. For that reason, these three key features do not signify with the purpose of the talented economic surroundings shows the way towards the junction of economic systems. though, during this circumstance organizational structures distribute crossways systematic situations, make use from every one and other, and produce organizational mixtures so as to communicate to the general outline of business organization and contest, at the same time as adjust in the direction of the exact public background surrounded by which they function. In further words, shape of economic organization is interceded by forebear organizational shapes, systematic structures and cultures of such organization. Thus, this mediation is of elementary worth in the raise of rapidity, or deceleration, of learn progress and events of spread. Multiculturalism: Multiculturalism as a progression of change by means of which we were taught to be familiar with, recognize and understand our own cultural individuality, as well as the comparisons and dissimilarity of people as of other cultural groups. On the other hand, that distinctiveness preserve comprise ethnicity, race, gender, economic class, physical abilities, sexual orientation, religion, job status, and veteran status. Diffusion of multiculturalism and improved personality right of entry to cultural assortment, through on the other hand, various decrease in variety throughout adjustment, and hybridization. Therefore, at such organization, has originated it mainly thriving to arrange functioning commission strength to assist sketch a strategy meant for continuing multicultural assignment. Additional thriving strategies for ascertain an assortment proposal includes: 1. Spotlighting on the positive features of assortment work; 2. Pulling together and allocating articles and new form of documents which clearly demonstrate the benefits of multiculturalism; 3. Performing focal point groups for the community to put across their apprehension and visualization for generating effectual multicultural surroundings. 4. In spite of the strategy, you in time come to a choice upon; most people trace it very helpful to widen an idea of the factors, which are arguing organizations to tie in work, so fine the constant return of multicultural change. Diversity: It goes back to the exceptional and particular characteristics with the intention of make a distinction us at the same time as individuals, and recognizes us seeing that be in the right place to such a group. Besides, Diversity consequently comprises class, religion, race, gender, ethnicity, sexual orientation and abilities/ disabilities. Nevertheless, Diversity presents power and prosperity in the direction of the whole. As a result, Diversity possibly will besides take account of extraction, color, age, marital status, political belief, and family status. Conversely, Diversity is a comprehensive come within reach of all community that be familiar with the diversity we possibly will have in any specified time, constant in the middle of groups to come into sight to be harmonized. In the ongoing such organization, recruiting a varied workers has happened to a more complicated confront for employers. Hence, (Such organization) distinguish the benefits connected by means of employ a varied workers, nevertheless several discover it complicated to accomplish the purpose. Consequently, Directors at (Such organization) who identify the worth of pull towards you miscellaneous employees observation such employment put into practice as a strategic business crucial. On the other hand, value that competitors are concerning by means of markets they are misplaced, diversity is appreciated at the same time as a competitive advantage. The diversity manager for instance at (Such organization) preserve in addition influence sustain for communications programs by repeat top executives with the intention of employment and preservation issues contain a consequence on mutual standing. In conclusion, such organization ought to also bear in mind that outside messages connecting diversity of about any supplementary characteristic of the business culture has to contest the interior actuality. Environmental Issues: As we know that change in the rising economic environment is intimately connected to two key industries, which not simply set up progress and product advanced, but also applied progress at their own structures, and progression, which resulted in higher growth and output and throughout competition, to the diffusion of new business models through the economy. Furthermore, No doubt it is the full interconnection of the markets smooth the progress of by strict redesign that makes the new economy full. Nevertheless, at the central part of such organization, which is utilized the latest technology related mechanism of old economy sort of organizations. Hence the centrality of technology allied economic movement is not correlated to the in the hope of freshly exponential proceeds expansion and market worth of technical firms. As an option, their economic and business result lies as the potentially affected contact for the technique business is carried out. Sustainability: As we can say that a business is sustainable if it has modified its put into practice for the make use of renewable possessions and seizes itself responsible for the environmental contact of its activities. Consequently, this comprises businesses for an organization; to make it possibly will desire to activate in its mode, as well as to defend the environment. In addition, many profit-oriented businesses, like such organization will create a representation of social responsibility throughout a variety of marketing and public relations act; even though this visible figure does not actually indicate with the purpose of, they are sustainable. As we generally disclosed that a business to contain a competitive advantage and maintain the review of time, change is an everyday occasion. Nevertheless, it ought to not be a response; it is a growth to facilitate focuses on preserve a balance inside the same organization, which is such organization, in order to make sure the slow change from one growth to another. Besides, the central part principles and view are deftly entrenched in each act in nature to avoid disorder in the organization. Likewise, the simple route near the logistics of alter management is ingoing to the scene world of business. Team development A team is defined by the necessity for interaction among members of a group. Therefore, the true meaning of interaction, action between, goes to the essence of teamwork. Consequently, the core for some organizations is whether it is needed and to what extends to stress work team operations. Therefore, the nature of the work leads organizations to the answer of the preceding query. Therefore, and as we mentioned earlier at above, that Theory building in addition to empirical research on team development have their roots in social psychology along with group dynamics. Otherwise, it has been dealt explicitly with the issue of team development in terms of empowerment and has distinguished various stages in this development. Therefore, we can certainly get so as to multiple practice it for either or what was mentioned early but as in the primary place, the team should focus on the redundancy of functions. Moreover, qualification matrices are made along with a cross-training program is generated to develop multifunctional and to encourage job expansion in the light of the variety in the request for production capabilities and the distribution of work skills requisite variety. In the upcoming stage, the focusing is on the principle of minimal critical specification, moreover, the redesign of the control structure. Moreover, as we can investigate further on the above subject, as greatly as possible, control objectives are delegated to the team and the focus is on job enrichment. Moreover, in these first two stages, the focus point is on the individual furthermore, there is a shift from conventional to non-routine activities. Furthermore, in the third stage the emphasis is on the self-reliance of the team, on teamwork plus for team-building communication and decision-making. At the identical time, also we find with the purpose of during everyday work the team has to become free of its supervisor. Accordingly, the focus is on teamwork and autonomy. In the previous stage, in line with the principle of double loop learning, the function to explain the non-routine problems is the central concern. For that reason, an ideal area in which this kind of problems always arises is the management of the environment through the team. It is due to the earliest faith with the aim that the activities during the first three stages are chiefly directed inwards, leading to a higher level of empowerment of the team. Additionally, Group boundaries are emphasized beside this will move group members to reinforce group identity. Consequently, Sharp group boundaries always strengthen the group norms and reduce the tolerance for abnormal attitudes and behavior among group members. Thus, this may limit the innovative and innovative capacity of the group, and may reduce its responsiveness toward suppliers and customers, which is an essential reason for empowerment. As we can say with the purpose of when it is said so as to an independent working team might become too inwardly oriented, a tendency that might constrain organizational learning and comprehensive system improvement. On the separate hand, these arguments indicate that team boundaries should be neither too stiff nor too loose. To find the appropriate balance, the concept of boundary management was included in the fourth stage, with the objective of creating teams that are not only autonomous, but also responsive, pro-active as well as innovative. Change and Implementation of Change: Organizational change is a realism of the available world, and to facilitate actuality is not liable to change anytime rapidly. If anything, organizations can wait for toward look the need meant for even more change in the prospect, at a still closer lick. Furthermore, we can add with the purpose of those Organizations encompass to pact with advanced technology and with upgrades for presented technology. Consequently, they comprise to get with reorganizations, practice step up plan, and mergers and acquisitions. In the addition of that and from the widespread of They thrive by mixed any actual resolution that was a fraction of the change mix by a careful and practical as one of the non technical human aspects linked with the change. Therefore, as we can say with the aim of it obviously shows that it suppose Such organization , that thrive at change do so by in view of the people who are affected with, will have to exist with, and are frequently necessary to finishing the change in query. Still better, not only does running the human side of an organizational change scheme assist make sure the successful execution and use of the possible result, it sets the foundation for realized prospect results on the performance of Such organization. Conclusion: On the separate hand, as the times went on, a lot of detailed research has been conducted on the charge In excess of the long run, we consider to promote the organization, so as to pursue a progression alike to the one illustrated amplify their chances for superior accomplishment. Furthermore, this occurs for the point that teams of people following a logical progression and by compelling data to substantiate their arguments more frequently make improved outcome than individuals. Consequently, such project of any organization, enclose further evident, and the importance of words and choice make recover. Additionally, the power of using the criterion that is firmly allied by strategy and recognized with each one in the organization is the justifying result it has to require representation in inventive ways. On the other hand, having progression resources it can be simulated and enhanced over instant awaiting it is optimized. Likewise, it as well many more people can reach out the development and trainer others, thus making knowledge such organization. As we can see obviously that, the demands of the external along with the local environment are opposite to the existing organizational cultures well as style of leadership. Therefore, the importance of those issues is crucial in the success of an enterprise. Consequently, every recent step has to be done according to the existing values, to the existing concepts and if something has to change in the organizational culture that must be done before any further step. However, as the times went on, a lot of important researches had been conducted on the function of the human capital is important and if we are not able to handle correctly, that means a specific failure. As a result, the motivation, the team development and the empowerment define the direction an organization face its employees, leads them. In order to succeed, the consideration to these issues is necessary. However, we can find with the intention of, in several areas of the offered here has noteworthy inference for procedure improvement. as a result, At such business environment, where in such organization , is taking place, environment is constantly methodically implanted; rules, laws, norms and regulations are necessary to construct anticipated business environment of every types among those and the identical organization, which we are talking about, business environment. Furthermore, such organization comprise a critical function to bear role in make sure the circumstances necessary to successful interface among such organization. As we can say with the purpose of when it is said so as to the paramount question is not whether management be supposed to restrict or not; other than, what forms of involvement are likely to be mainly successful in obtainable situations. Conversely, given with the resolution of interference cannot and ought to not be persistent. Likewise, Improvement policy ought to not only focal point on the fundamentals of the scheme, but also on the associations in the midst of these fundamentals. Consequently, this comprises not just the associations surrounded by differing types of organization, but also at such organization. Therefore, we can definitely get so as to numerous practice it for either or what was mentioned early but as Effective leadership has little or nothing to draw with hierarchy along with formal position. Better, soon it will remain whole project based. Therefore, those who excel at being aware, sharing, and pooling knowledge, win. For that reason, once this is a reality, the workplace will be changed forever. I do not mean that once the work project-based for a while it is part of this trend. In fact, a plan now plus there is not be, what this is about it. I envision that over, as we know it will vanish all. Moreover, it will not be needed and will have no function. Instead, a new hierarchy will appear: one solely based on information and networks. As a result, this is a considerably more precarious situation. In effect, a given location can determine who is in charge and hot topic can make an expert surface immediately.