Acc 564 Assignment 1

Auditing I Sarbanes Oxley Act Assignment 1 Rachael Lantz 8/15/2012 Since the financial crisis investors have become less confident in the companies inwardly the market. In order to restore confidence at bottom the market and the scrutinises of their financial statements Senator Sarbanes and Representative Oxley created the rule known as the Sarbanes Oxley Act which came into effect in 2002. The legislation created major regulations on compevery financial reporting and the regulation of it.Forcing management to be accountable for the financial reporting and internal controls within their company and requiring the audit charges to report on their opinion of the companys internal processes. (Soxlaw. com) The SarbanesOxley play requires that the audit committee of a existence company consist only of self-supporting members and be responsible for the appointment, termination, and compensation of the audit firm.Because the Sarbanes-Oxley Act of 2002 explicitly shifts responsibili ty for hiring and firing of the tender from management to the audit committee for public companies, the audit committee is viewed as the client in those engagements. Because of the lack of independence between the parties involved, the Sarbanes-Oxley Act prohibits related party transactions that involve personal loans to executives. It is now unlawful for any public company to provide personal credit or loans to any director or executive officer of the company.Banks or other financial institutions atomic number 18 permitted to make normal loans to their directors and officers using market rates, such as residential mortgages. This reduces the risk of assets being misused by the management. (Arens, 2010) The risk of malingerer has been reduced since the conversion of the Sarbanes Oxley Act of 2002. By requiring that the financial statements are a fair representation of the company the amount of fraudulent statements produced has been reduced. The Act regulates that the main(preno minal) executive officer and the chief financial fficer and the external auditors have reviewed the financial reports and that they are free from material misstatements or misleading information. Section 404 of the act requires that the auditor attest to and issue a report on managements assessment of internal control over financial reporting. To express an opinion on internal controls, the auditor obtains an sagacity of and performs tests of controls related to all significant account balances, classes of transactions, and disclosures and related assertions in the financial statements (Arens, 2010).The act requires management to disclose all material information or changes within their accounting processes. By requiring senior management to review the reports they are held accountable for the financial accounting of the firm, and procedures to prevent employees and other members within an organization from committing fraud or theft and management is legally responsible if materia l misstatements have been made.By making management accountable then they are less likely to commit fraud if faced with jail time. Management and stockholders frequently have different goals. Management often wishes to expand and use the companys assets in different ways than a stockholder. Managements accountability of the financial reports often helps encourage management to use company assets in appropriate ways. Disclosures were also a diminution in risk of fraud because all material information must be disclosed.By requiring this disclosure if a companys net income gaind this family due to a change in accounting method or principle this information must be disclosed in the one-year report. (sec. gov) The public company accounting oversight get on, PCAOB is a non-profit organization created by the Sarbanes Oxley Act of 2002 to oversee the audits of public companies. The PCAOB helps to protect the investors from fraud by regulating auditors requirements within the Sarbanes Oxley Act (pcaobus. org).PCAOB Standard 2 requires that the audit report on internal control over financial reporting under Sarbanes-Oxley include the auditors opinion as to whether managements assessment of the design and operating effectiveness of internal control over financial reporting is fairly stated in all material respects. Management must document the design of controls, including all five control components and also the results of its testing and evaluation. The types of information pull together by management to assess and document internal control effectiveness can take many forms, including policy anuals, flowcharts, narratives, documents, questionnaires and other forms that are in any paper or electronic formats. The process to develop the auditors opinion involves both evaluating managements assessment process and arriving at the auditors independent assessment of the internal controls design and operating effectiveness (Arens, 2010) With the handing over of the act in 2002 there are now laws governing the blood between corporations and the auditing firms, the requirement of auditors to be rotated on a regular basis, and the enforcement and regulation of internal controls.Accounting professionals such as Certified Public Accountants have seen an increase in the demand of the services since the act has been put into action. And senior auditors have become more involved within the audit committee. The relationship between auditors and their clients has changed since the passage of the act. With rotation requirements auditors are no longer influenced by management to report anything other than their independent opinions. (aicpa. org) Since the passage of SOX Act the auditing profession has been regulated for the first time.The PCAOB board members are appointed by the Securities and Exchange Commission and therefore government regulated. Under these regulations investors and potential investors are better protected from fraud. By requiring the auditors to be accountable as well as the management the public are given a better more accurate representation of the company in the annual report. With these regulations in place and the increases in regulations within the future the amount of frauds will reduce each year. After the passage of the act with the exception of the years 2007 and 2009 the fair(a) number of disciplinary actions against auditors is four.With the board regulating auditor standards the temptation to report incorrectly on an audit has decreased. For instance the board is in the process of amending the act to disclose relationships with related parties and their transactions because these transactions are hard to account for and propose a threat to misstatements (sec. gov). References Arens, Elder, Beasley, 2010 Custom Edition, Auditing and assurance services, Pearson Publishing. http//www. soxlaw. com/index. htm http//pcaobus. org/Pages/default. aspx http//www. sec. gov/about/laws/soa2002. pdf http//www. aicpa. org/Pages/Default. aspx

Capital Mortgage Insurance Corporation Essay

1. Find appropriate place with a just environment to conduct duologues. 2. Talk to both parties to chance on their specific issues that need solving, identify what is spill to be needed to uprise solutions in the short and long term. Take note of each parties information link to issue at hand which can be used to corroborate information during the negotiating process. 3. Make a thorough assessment of the situation in assure to be able have an easier transition into the negotiation process. 4. Pick a good alternative that impart accommodate the stipulations of the joint agreement policy.IDENTIFY AND line THE STEPS OF THE NEGOTIATION PROCESS1. First thing it should be done, is that parties involved in the negotiating process will share their case. An agreement should be reached on what is the intention of the negotiating process, which will help to come to a solution of the issue at hand. 2. Parties should say what is that needs to be replaced.3. Parties should try to come to a consensus about what will be a good settlement package. Parties should be giving an updated estimate which includes all the changes make. And last parties should be willing to tradeoff concessions with the goal of gain an agreement 4. And last the negotiating parties agree to the end result of their negotiations, and also agree to abide by the agreement.IDENTIFY GUIDELINES TO FACILITATE COMMUNICATION DURING THE NEGOTIATIONMotivate negotiating parties to make open minded to facilitate communication. Should encourage parties to open up about themselves, listen attentively and empathize with them to make them feel that your purpose as to find a solution that best fits their wants. Pay attention to detail and how the conversation is conducted, you want to get to a mortalal level, in order to have good interactions which can go a long way. In this phase it will be a good idea that the negotiating parties offer the shareholders alternatives which clearly define expectations and con demnation lines.IDENTIFY QUESTIONS THAT SHOULD BE ASKED DURING THE NEGOTIATIONAt the beginning of the negotiating process questions be in such a way do not have a fixed answer, example what is your opinion about this company? What these type of questions do is that help the negotiating parties to make an assessment of what the other company wants to achieve. At no sequence ether party should make any concrete resolutions until there is a clear path to be taken. When the negotiating process begin either path is going to bring their buying agreements, an effort should be made in order for them to come to a consensus on a price, once this reached an agreement should be made that parties understand that it will be the final offer and they could not go below it.IDENTIFY THE CHARESTIRISTICS OF THE NEGOTIATION STYLES1. Adjust your behavior to empathize with fellow negotiating party in order to foster a productive negotiating environment. 2. As a negotiator understand expectations from pa rties in the negotiating process to produce solutions that makes them feel like they had a fair negotiating process outcome. 3. be proactive in the acquisition of information.IDENTIFY AND APPLY GUIDELINES THAT YOU SHOULD FOLLOW WHEN THIS NEGOTIATION BECOMES CHALLENGINGYou can identify when a negotiation is about to have a negative turn by observing peoples nonverbal language, this should be taken as a sign that a change of strategy merits change this can accomplished as follows. 1. Share information that will help present your case better in which the other person can see an opportunity to be able to also gain in the negotiating bargaining process. 2. Also a strategy to use when the process takes a negative tone, the best will be to keep a posture of silence listen and observe. 3. And last when closing the negotiating process, wrap it up in such a manner that if not accepted by the other party it will give a sense that the alternative will be no deal at all.

SWOT Analysis on Electronic Arts Sports Essay

Background of the CompanyElectronic Arts (EA) are an international organization that deals with the development, marketing, make and distribution of exposure games all over the world. US census bureau identified electronic arts as software publishers industry. EA is well-established and independent producers of video games and concord to the study by Thompson (2007), EA made global market up to $35 trillion. In 2005, it was observed that the US made sales up to $7 billion along with the video games made by EA, and this amount was predicted to grow more in order, to set a record. The prediction was made on the analysis that retailers would be purchasing an Xbox 360, Sonys new play station and Nintendo Wii in bulk. But, unfortunately, the originality of new consoles tapered off and a decline in sale was observed by 2010. There are various factors that contribute to progress the popularity and demands of video games among masses.Likewise, these video games were made, themed and style d to satisfy needs of all age groups specifically youth. Secondly, graphics play an meaning(a) part in expanding the fame and demand of video games. EA showed a tremendous growth in the global market by meeting the needs of customers and by marketed the items properly, on the dot according to the increasing budgets, sale promotions and advertisement levels.The growth of the company is evidenced that from the increased employee requirement and industry size. No matter, up to what extend the company has grown, in the competitive market there are always some opportunities, and threats that based on the companys strengths and weaknesses (Allen, Blakeman, & DeMaiolo, 2011). This paper serves to provide the SWOT analysis of EA sports video games in order to evaluate that where EA sports stands in the globalManfred, T. (2013, September 26). EA Sports Cancels Its College Football Video Game Amid A Wave Of Lawsuits. Retrieved November 17, 2013, from businessinsider.com http//www.businessin sider.com/ea-sports-cancels-ncaa-football-videogame-2013

Memorable Movements

The honorable event I would like to talk here is the spring outing activity that happened on my middle civilize stage. At that time, my classmates and me were most about twelve or thirteen years old, non more than fourteen. We had our spring outing on one sunny saturday. Accompanyed by laughters and singings, we marched towards our destination on bikes. The destination was located on a foot of a mountain, where there were a lot of t wholly trees and a river pass by. We caught several(prenominal) fishes from the river, and picked up some branches from the small grove.Besides that, we also constructed oursleves cooking stove. There were so many joyful things happening, that I can not tell you all of them. One thing I remember deeply is the simple noodle cooking. Several classmates with me took charge of cooking noodle unfortunately, we are all not ripe cooks at that age, we even do not know the correct order to cook a bowl of noodle. So we put all the vegetables and noodles as wel lhead as some beefs into the water together before it boiled. After that we also try to stir it just like our parents did at home.When all our work finished, our classmates began to enjoy our food. Can you imagine the scene, green noodles,over-fried fishes, luckily, the taste were not bad, even we could say fairly tasty. Apart from that, we still had some sweet potatoes being well cooked. totally of the food were eaten out quickly, including our green noodles. Even nowadays when I cook noodles it will remind me of this spring outing, I think the reason why I remember it deeply is probably it is the first time I cooked food, while it received an unexpected welcome.Moreover, personally, I believe the green noodles are quite engaging visually. I enjoy my time at school greatly, there are my best friends, my lovely teachers, and interesting knowlege. Each holiday I can not help expecting the coming of the new semester. I would be willing to introudce it to others, as it indeed is a go od place for studing and living. In fact, it is so famous and popular in our local area that almost everyone knows it and eagers to be admitted by it without any others recommendation. Nowadays, the competition to enter it is more ane more intense.

Health Insurance Portability and Accountability Act of 1996 Essay

Today we will be discussing the Health Insurance Portability and Accountability Act of 1996 or HIPAA. As some or most of you may know HIPAA was enacted by the federal government in 1996 and by definition is a federal fairness that mandates insurance portability and sets up procedures for electronic data deputise (Austin & Wetle, 2012). This laws purpose is to protect patients privacy, none of a Patients Health education (PHI) is to be used or released without the patients consent. HIPAA is superior to state laws, so that no subject area where the patient lives they are protected.The only time HIPAA is not superior to state law is if the state law has a higher standard, as in keeping an account of disclosures for eight years rather than the sixsome required by HIPAA law we would follow the state law in this case. Key factors that all wellness care employees should know about HIPAA are as follows. Who is covered by HIPPA? Health care providers, clearinghouses, and wellness plans t hat are compelled to protect PHI for oral, paper, and electronic communications (Harman, 2005) are all covered by HIPAA.Another mark factor about HIPAA is, knowing what information is protected and what is ok to be unwrap. PHI is not to be disclosed unless the patient gives their consent, anything with personal identifiers is off limits, demographic data, past, present and future health conditions, provisions of care and past, present, or future payment information (U. S. Department of Health & Human Services, n. d. ) are all protected. Information that offer be disclosed is called de-identified health information, information without any identifying factors.The only required PHI disclosures are to the patient if they postulate it. If a facility fails to abide by the laws they will be fined. Any person who obtains or discloses identifiable PHI can face a criminal penalty of up to $50,000 and up to one year in prison (U. S. Department of Health & Human Services, n. d. ) the person will likely be terminated from their repose as well.These regulations effect the management of employees, patients, resources, and ealth care because everyone needs to be trained in HIPAA practices and know the laws and regulations. Patients need to understand and sign consent forms and be made aware of what their rights are through the policy. One could claim HIPPA makes for more paperwork however it is crucial to protect our patients privacy and the relationship with our outside resources. in one case completely understood by all of the staff, and patients everyone will understand how valuable HIPAA really is.

Importance of Criminal Justice Administration

Class whitlow Justice face Date 9/10/2012 Importance of Criminal Justice Administration The role of a Criminal Justice Administrator is to manage a wretched fittingice system. She/ He direct the administration of the day-to-day operations, participates in administrative decision making, enforce policies and procedures, and sets work flow priorities. Criminal evaluator executive directors also call do agencies budget, policies and program requirements. Each public agency, according to its primary function, has a support team.The criminal justice administrator is in charge of supervising all agency staff which can accommodate lawyers, judicial clerks, secretaries, investigators and farm animal officers. He/ She review and approve their reports, as it is his responsibility to make sure all information is straight and prep ared in accordance with established policy and procedure. The United States criminal justice system is a system that acts to enforce the criminal laws of the country. In the United States, the criminal justice system is divided in three categories federal, state and military.In addition to these three categories, each state has separate divisions that deal with adult and upstart cases. Each of these systems is comprised of three major components. The first component of the criminal justice system and perhaps the virtually important and dangerous is law enforcement. This includes the local police department with all of its police officers and detectives. These people straits the criminal justice system because they are the ones responsible for finding and capturing individuals who break the laws set off by the state, federal government or the military.The second component is the court the court system includes prosecution and confession lawyers, judges and juries. These individuals make sure offenders are given fair trails. Judges, also known as finders of facts, reckon the cases and preside over the participants to make sure that a ll laws are followed while the cases are being tried. near cases are tried in front of a judge only, while others have a dialog box of 12 citizens who determine the guilt or innocence of a defendant based on facts brought forth during a trial.The last but not least is corrections. The correction system, which is tightly intertwined with the previous two components, is very important and quite large. The correction individuals ensure that a defendants punishment and all of its stipulations are carried out. Like any organization, state and local criminal justice agencies must deal with issues of organizational oversight and employ the management styles that best allow them to achieve their objectives of crime prevention, adjudication of criminal offenses, and punishment of offenders.In todays world we have developed different styles of management that could apply to law enforcement agencies, criminal courts, and correctional facilities and departments. In my opinion managers are m ore important than supervisor because they have more responsibilities under their shoulders. Systems management requires a complete approach to organizational leadership, which involves not only management of personnel, but also of organizational knowledge. A systems approach to management recognizes the complexity of modern organizational processes.In this perspective, organizations function based on the information and selective information that employees can access. A successful agency must properly manage all of these elements. Features of systems management include specialization within components of a large system and coordination among different components. System management could serve criminal justice agencies well, and some organizations exhibit elements of this approach. For example, many large law enforcement organizations have specialized divisions, such as homicide, gang enforcement, vice, and others, but with cooperation among these different units.In general Criminal Justice Administration it is important because in do for law enforcement agencies to work properly a Criminal Justice Administrator pick outs to be in charge. Law enforcement agencies and organizations devoted to research in the field of criminal justice administration sometimes need professional researchers to perform ongoing work. Examples might include research into the most effective ways to release criminal justice agencies and how budgets impact the administration of criminal justice.Administrators may have tasks that can include mathematical models and other methods in order to assess policies so those in the administrative side can make informed decisions. I personally believe that Criminal Justice Administration is not failing it just have its ups and downs. We have to keep in mind that in order for a criminal justice administrator to be successful he/she has to have a good working idea of the levelheaded system and the role they play in it.

In The Skin Of A Lion Michael Ondaatje Essay

In the apologue, In The grate Of A Lion Michael Ondaatje anatomizes the relationship between power and language and their nonion on oneself establishing a consciousness of identity operator. The manipulative language and the complex structure Ondaatje uses explores this idea of power and its inevit satisfactory relationship with a experience of identity, which is even further accentuated through use of characterization throughout the reinvigorated.Ondaatje shines light on the unheard corners of accounting to give the disenfranchised migratorys a sense of power, which in turn provides them with an enriched sense of self. This is represented in the novel through the migrant workers. Ondaatje expresses this through harsh sensory mental imagery when describing them, by saying, The smell of tar seeps up through the porous body of their clothes.The black of it permanent under their finger nail This sensory imagery and hyperbole, permanent under their finger nails, allows the rea der to empathise with the workers and therefore relate to the harsh conditions in the workplace. In this quote Ondaatje signalises the workers through use of impersonal pronouns, their, then taking away their sense of personal identity. The migrant workers not being allowed to keep their own name further depict lack of identity, seen in quote, The project agent giving them all English Names. Charlie Johnson. Nick Parker. Enabling the reader to understand the complex effect a persons identity has when establishing power.Language displays and intricate relationship with power and acquisition of a personal identity. The migrant workers be forced to communicate in English, a language they are not conversant in. If they speak in any language other than English, they will be jailed. A blueprint of the city. Thus the migrant workers are disempowered thus depriving them of their cultural identity and preventing them from uniting to become a efficacious body. Ambrose, on the other hand , is a Canadian that has complete grasp on the English language. He is straightaway portrayed as a Jackel, a buying up every field of wealth thus representing the gap between the rich and the poor, the native and the foreign and the sense of power that is established through language.The image of power, and its liaison with identity, is further develop through characterization. Nicholas Temelcoff is a character that shows immense power through his actions, Ondaatje describes him as solitaryHe is burly on the ground and then falls with terrific speed, invest, using the wind up to push himselfHe is a spinner. He links everyone This description represents Temelcoffs power through his skill and conquest of his trade. Although he may be uneducated, he remains a figure of supreme skill and grace when he is on the bridge. It portrays Temelcoffs heroic nature, which is as well as an allusion to the Epic of Gilgamesh in which the title is derived from.The use of repetition on he is sho ws Temelcoffs masculinity and when intermingled with Ondaatjes poetic prose he is portrayed as a muscular hero of the story. The audience immediately perceives Temelcoff as a hero and thus sympathizes with him and his plight. There are also distinct parallels between these characters and the Epic of Gilgamesh as the novel follows pattern of Legend, also seen in Christopher Voglers writing. Their circular nature is further accentuated, as certain lines out of Skin of a Lion are the selfsame(prenominal) from Gilgamesh these are the days that belong to the moon. Thus, Ondaatje characterizes Temelcoff to glorify him and the workers, which in turn results in them being presumption prominence in the novel. This reveals that Temelcoffs strong sense of identity, which he has established through his trade, has been crucial for his powerful status in the novel.The nonlinear plot structure that Ondaatje uses, portrays Patrick as having to a greater extent power as the novel progresses, th is enables him to establish a stronger sense of identity. In the chapter of the searcher it is evident that Patrick is confused with his identity. Represented in the perpetual shifts in perspective and also the confusion Patrick shows in his life. When in his apartment, Patrick is described as walking,Into the empty rooms, gesturing towards the disconnected things he was trying to assemble, broken glass and crockery. Ondaatje uses the state of his apartment as a metaphor to describe the chaotic and disarrayed identity of Patrick, which is powerless and confused about who he truly is. An example of self-reflexivity in the novel is when Alice says to Patrick, you reach people through metaphors, this reflects that Ondaatje intentionally uses these metaphors to develop the story and create textual integrity.The disordered state of Patrick in the searcher is contrasted in the chapter Maritime theatre where the writing structure is much more linear. This structure reflects that he has found a purpose and knows his objectives, subsequently leading to a heightened sense of identity Ondaatje also uses the symbol of dynamite to show the power now has over Harris. When Harris asks Patrick, What do you want? Who are you? Patrick replies, I am Patrick Lewis. This expresses the sense of identity Patrick has finally gained throughout the novel finally being able to answer the question of who he really was.