The Hazards of Climate Change Essay - 1776 Words

Going into this class I was only vaguely aware of the hazards of the changing climate and the dangerous effects of global warming that are becoming evident in our environment. The material that I have learned in this class has allowed me to have a much better understanding of how important it is to do my best to prevent these negative effects on the environment. It is extremely critical for the inhabitants of the world to learn to stop destroying the environment, to focus on decreasing these negative effects, and to maintain a strong and healthy world for us to live in. Climate can be any type of pattern or action that a general area of land experiences over a certain time period, such as: precipitation, temperature, or wind pressures.†¦show more content†¦Although this sounds like a small number, the sea level is expected to rise about 12 centimeters in the next 50 years. Every centimeter higher that the ocean rises results in about 1 meter in lost beach. These consequences indicate a positive feedback process . A positive feedback process occurs when ‘smaller’ problems increase the rate of reaction, leading to much bigger problems. A good example of a positive feedback process can be found in the Impact and Remediation file: the warming climate leads to wetlands increasing; wetlands release harmful greenhouse gases, which warm the climate even further. Major climate change in many ecosystems can result in added stress and, sometimes, death to many of the animal and plant species throughout the world. Also, these extreme clima te changes affect many people’s lifestyles through effects on things like agriculture and the manufacturing of certain wood products. Through my research, I also noticed that wealthier and more developed nations will be much better off than under-developed and poorer countries when dealing with agriculture changes. Since the world’s supply of agriculture could be severely hampered, the world’s food supply would take a major hit, eventually causing more and more people to starve. Not only will animal systems and agriculture suffer negative effects, but human health is also a major concern. Many health problems can occur with theShow MoreRelatedThe Himalayas Region1404 Words   |  6 PagesAntarctica, the glaciers provides fresh water to a number of rivers in central Asia to over one billion people downstream (Vaux et al. 2012). However, observed shift in the climate regime from anthropogenic climate change to a warmer weather globally, intensifying rain patterns are increasing the frequency of natural hazards such as landslides and flash flooding (Eriksson, 2009, Ives et al. 2010, IPCC 2013, Singh et al. 2010), threatening the livelihood of the tourism industry. This essay exploresRead MoreThe Effects Of Climate Change On Bangladesh1229 Words   |  5 Pages1. Abstract This report will consider the effects and likely impact of climate change on Bangladesh, the disaster risk management measures that are already in place and those being considered. It will show how these have been influenced by frameworks such as Hyogo and Sendai and where necessary improvements have been identified. Bangladesh has shown a commitment to the development of Disaster Risk Reduction but this needs to be supported by continued development and investment. 2. Figures FigureRead MoreEssay on Moral Hazard Argument Agains Geoengineering1245 Words   |  5 PagesMoral Hazard Argument Against Geoengineering Geoengineering can be a risky option to counter climate change, not just because it is not verified on the results that could happen but the unpredictable changes that it could bring to the Earth and new problems that were never expected. There are many uncertainties dealing with Geoengineering of the climate. Before making a case on which argument against geoengineering poses the most significant challenge, the biggest component is understanding whatRead MoreGeography - Climate Change Essay958 Words   |  4 PagesTitle: Compare and contrast the contributing factors of climate change and argue that there is a need for more economically developed nations to take the lead. Nations around the world have been contributing to climate change by damaging natural environments and releasing greenhouse gases and there is a need for more economically developed nations. There are different contributing factor, but the majority of these contributions are from the more economically developed nations. Although the lessRead MoreEmergency Management. Tehron Cates. North Carolina Central1100 Words   |  5 PagesEmergency Management According to the IPCC (2007), climate change refers to a change in the state of the climate that can be identified (e.g. using statistical tests) by changes in the mean and the variability of its properties, and that persists for an extended period, typically decades or longer. It refers to any change in climate over time, whether due to natural variability or as a result of human activity. Studies suggest that the global climate has been warming and will probably continue to doRead MoreLiterature Report1238 Words   |  5 Pagesimpact of hurricanes during the months from June to October. With the hurricane devastation comes abundant rain, repeated storms and climate changes such as temperature and humidity levels increase. The South Florida coastal population is very much affected by these climate changes, especially by sea level rise. Due to sea level rise, flooding damages and climate changes, the population in the coastal area have a higher incidence of respiratory diseases tha n the rest of South Florida, consequentialRead MoreAre Looking At Target 13.1? Essay934 Words   |  4 Pagescreating a type of defense mechanism for countries vulnerable to climate related hazards and natural disasters, one would first consider how large the number is of geographical areas that are in need of resilience and adaptation. Nowadays, due to technological advances and an exponential improvement in the engineering of man-made structures and shelters, most first world countries do not experience much of an encumbrance from climate change. This narrows down our number and allows the UNFCCC to focusRead MoreClimate change Adaptation Planning: Tourism industry in the Himalaya Region732 Words   |  3 Pagesemployment. As an example, tourism sector contributes 9.4% of GDP and 8.2% of total employment in 2012 for Nepal. (World Travel Tourism Council 2013) The observed impacts of climate change to the livelihood of the tourism industry are the main driver the need of adaptation to ensure future development and prosperity. Climate is one of the primary factor in determining the viability and suitability of tourism activity, where shifting of weather regime and severe weather events directly impact on theRead MoreVolcanic Eruptions and the Atmosphere956 Words   |  4 Pages In what ways do the volcanic gases from volcanic eruptions develop the atmosphere? When a volcano erupts, a plethora of debris and other hazards flows out from the mouth of the volcano. Of this debris, one of the most perilous threats is not only the lava but also any gases that are a product of the eruption. In fact, these gases that are released during, after, and sometimes before an eruption are one of the main culprits as to why volcanos erupt. These gases include, but are not limited to:Read MoreThe Origins Of North America812 Words   |  4 Pagesand is a lso deemed a subcontinent. One thing that shaped North America current physical geography was glaciers. Glaciers are what influence majority of the current landscape of North America today. North America also has a wide range of natural hazards that affects the region more than any other continent, due to the proximity of water and the latitude. The region also has a long history of the influences of the European settlers and help shaped the human geography. The current physical geography

Mission Vision Statement - 6975 Words

Vision Statement Examples Here are some vision statement examples which you can follow if you have no idea as to what a vision statement actually means. Also learn how to write a vision statement and how various companies and business people write their vision statements. Read on... Ads by Google Creating Vision amp; Values One Day Workshop Creative - Engaging - Clear Results www.livechange.co.uk 365 Happiness Vibes Video And get your free pdf download Fill up your happiness reservoir alittlebookof.com/365HappinessVibes Real Team Building Events A Unique Experience for Any Budget Groups Up to 500 People www.SunBuggy.com I am sure that at one point of your life you have all read some motivational books or the other. They all ask†¦show more content†¦Personal Vision Statement Examples Personal vision statements usually deal with career, education, weight, or maybe with relationships. Sometimes it also deals with personal development such as to socialize more, to be less selfish, etc. Here are some personal vision statement examples which you can go through. Example 1 January 2015, I am standing outside my new room at the Oxford University campus, UK, seeing who my room mate will be. Yes! Its Darla, my best friend since high school. We are staying together. I am jumping with joy! Oooooh! I am so happy. Example 2 September 2010. I ranked first in class today. The entire class gave me a standing ovation. My parents are standing near the door, shedding tears of joy. Now that you have got a hint as to what personal vision statement actually is all about, let us now see some corporate vision statement examples. Corporate Vision Statement Examples The vision statement of the corporate companies is quite different from personal vision statements. They deal more with targets of the entire company rather than with the individual targets. Their main achievements usually deals with whom they are going to take over, how much profit will they earn and so on. Here are some examples of vision statements of some corporate companies. Corporate Name | Vision Statement | Amazon | Our vision is to be earths most customerShow MoreRelatedMission Statement : Developing A Vision And Mission942 Words   |  4 Pagesdiscussion came up on mission statements. This particular company, as well as others I have consulted, lacked a mission and vision statement. They are both successful organizations, however, there was lacking the critical element of what we do and why we do it for their employees, and more importantly, for their customers. An important theme connects the visions statement (the leader’s strategic plan for the organization) coupled and certainly interdependent is the mission statement (what we do, howRead MoreCreating A Vision And Mission Statement Essay1364 Words   |  6 Pagescreating a vision and mission statement is to help promote the best imaginable environment for teaching and learning. Conzemius O’Neill (2014) state, â€Å"The vision is the best possible future that can be achieved when we focus on our most valued priorities and behave in ways that are consistent with our core beliefs†(pg.240). By promoting a common goal attained by all stakeholders involved, the work and learning will becoming more meaningful and achievable. Furthermore, a solid vision is only partRead MorePurpose Of A Mission And Vision Statement1994 Words   |  8 Pagescompanies all have a code of ethics, mission and vision statements in place. The three instruments are used to establish rules/ regu lations, organization , and a business plan of action. What is the purpose of a mission and vision statement? A mission statement is a strategic plan of action. It defines certain regulations that the organization should adapt and adhere to, during the growth of the business - to ensure its success and longevity. A good mission statement normally indicates the businessesRead MoreMission and Vision Statement of Rim1628 Words   |  7 PagesMotion (RIM) organization, it showed that the organization itself does not provide vision and mission statement to their employees as well as the public. According to Thompson and Strickland (2010), a strategic vision delineates management’s aspirations for the business, providing a panoramic view of â€Å"where are we going.† It lay out the company’s strategic course in preparing for the future. A clear strategic vision communicates the management’s aspirations to stakeholders. It also helps steer theRead MoreMission And Vision Statement Of A Company s Mission1520 Words à ‚  |  7 Pages Mission and vision statements are essential to the development and accomplishments of an organization. They help align goals, dreams, expectations, and strategic planning to further the organizations success. Mission and vision statements are necessary to excite employees, customers, and shareholders. Strong mission and vision statements should reflect the true meaning of an organization and should be relatable to employees, customers, and shareholders. Properly developed statements shouldRead MoreA Strategic Pl Vision And Mission Statements Essay1366 Words   |  6 Pagesplan: vision and mission statements, environmental scanning, assessments, and discuss how they connect to each other to form a greater whole. When creating a strategic plan, a first step is the creation of a vision of the future for the library. A vision statement will focus on the positive, on â€Å"sharing hopes and expectations of what the library will be† (Dole, 2013, p. 284). It is a tool which will be used in creating the rest of the strategic plan, guiding in the formation of the mission statementRead MoreVision, Mission and Value Statements Essay919 Words   |  4 PagesIntroduction I am going to discuss what the vision, mission and value statements are and how they are important to our business. Each statement has different qualities which I will discuss in my presentation. The future of our business and the Vision of who we are goes with our philosophy and ideals of who we want to be. The vision statement should inspire your employees and give them direction on how your organization intends them to act and give them purpose. It also, gives our members understandingRead MoreHelping the Future of Organizations with Vision and Mission Statements1263 Words   |  5 Pages1. Vision and mission statements provide information about the organization. What are they? How should they be developed and used? Vision Statement The vision statement reflects how the organization s ideal image would be in the future. It also shows what your organization is dreamt of. The vision statement develops the center of attention for the strategic planning and they are bound for 5 to 10 years. The vision statement is the mixture of both the purpose and the values of the organizationRead MoreVision And Mission Statements Provide Information About The Organization954 Words   |  4 PagesVision and mission statements provide information about the organization. They appear in strategic and operational plans. How do you define vision and mission statements? How should they be developed and used? The mission of a company is considered to be its purpose. Basically, it should include what you will provide, who you will serve and also highlight your key attributes that should distinguish your organization from your competitors. There are no specific rules to develop a mission statementRead MorePepsico’s Corporate Review Vision and Mission Statement Report2733 Words   |  11 PagesPepsiCo’s Corporate Review Vision and Mission Statement Report (A) PepsiCo’s Current Corporate Vision Statement â€Å"PepsiCo’s responsibility is to continually improve all aspects of the world in which we operate-environment, social, economic-creating a better tomorrow than today. Our vision is put into action through programs and a focus on environmental stewardship, activities to benefit society, and a commitment to build shareholder value by making PepsiCo a truly sustainable company.† (i) Shortcoming

Black Cat By Poe Essay Example For Students

Black Cat By Poe Essay The Romantic period has numerous characteristics that help to distinguish it from other literary periods. A large majority of the pieces found in this period have at least one of the distinctive elements. Edgar Allan Poe uses a few of these elements to put a time frame on his short story, The Black Cat. Poe begins his short story by saying that For the most wild, yet most homely narrative which I am about to pen, I neither expect nor solicit belief. A big characteristic of Romanticism is a willing suspension of disbelief. It is never even thought that the plot to the story would be taken as being true, but rather as a made up story to get the attention of the reader. This also allows the reader to imagine if such a case were to actually occur. Each word that is read is meant to be doubted, and thought of as being absolutely bizarre, and with each new twist more doubt is created. Escapism, another key factor in Romanticism, is seen throughout the short story. The main character, who is never specifically identified, is running from his life by drinking alcohol. The alcohol eventually leads to the destruction of the first black cat, Pluto. The man felt the need to escape from Pluto even though the animal was one of his most beloved pets. His wife and the second cat are being run from merely for the disturbing conscious that they provide for him. Bizarre and unusual plots are often found in the Romantic period, and Poe does not hold back in his efforts. To deliberately cut the cats eye out of its socket is both bizarre and unusual regardless of being intoxicated or not. Even further, to hang the cat by a noose is ranked borderline for insanity. But the most abnormal act is that of getting rid of your wife by creating a tomb in the walls of your home would definitely be insane. Such acts are used in this literary piece to illustrate clearly that many factors weigh in to the different writing periods. The Romantic period, known for such elements as improbable plots and unlikely characters, is an important era in literature. Poe used a very unusual plot to create a vivid image of what the Romantic period truly was, and his work will be looked at for years to come.

Why is it important for the external auditor to be independent Essay Example For Students

Why is it important for the external auditor to be independent? Essay Why is it important for external auditor to be independent? Throughout the years, banks, shareholders, possible investors and creditors always relied on the financial statements produced by a company. Since the management of a company is producing these documents it has been assumed that the managers may act dishonestly so that their performance looks better. To monitor the companys performance better the directors along with the shareholders employ external auditors to check all these financial statements for both intentional and unintentional errors. Therefore, external auditors have no motivation to produce dishonest reports, ence they are regarded as being truly independent. But can they actually be independent when their current and probably future fees are determined by the board of directors and knowing that a negative report may reduce or completely cease their future income flow? What if there is built-up loyalty or some personal relationships between the auditors and the audited company? What is the primal role of external auditors? We will write a custom essay on Why is it important for the external auditor to be independent? specifically for you for only $16.38 $13.9/page Order now Before proceeding further, it is important to note that an audit has any value to the financial statements readers, so long as the auditor is both echnically competent (qualified enough to uncover significant errors) and truthful (All mistakes are corrected and presented to the public). For all the further contemplation, auditors are assumed technically competent. First of all, the primal role of an audit body is monitoring and examining financial statements. It is to serve to all financial statements readers as a reassurance on the truthfulness and reliability of these documents. Hence the external auditor has to act in an independent honest fashion. But even if he is economically independent, why should the auditor act honestly? Independence is an attitude of mind, it is the persons independent viewpoint that protects him from being influenced and pressured by his clients. There are two groups of auditors, concerning ethical reasoning: These who take into consideration the consequences of their actions (consequentialists) and these who analyse the moral quality of the action, no matter how dreadful the consequences can be (deontologists). The latter will always be honest, while the consequentialists may occasionally produce dishonest reports. However, when economic dependence is taken into consideration (since the clients are the one who ay) the consequentialist becomes rational self-interested auditor, who tries to maximize his own economic wealth and minimize the risk related to this future income (there is a risk of being sued for negligence if the report is found to consist any significant errors). What is interesting here is that to avoid risk from being sued, the auditor may undertake additional work, hence better quality of the report. Another point worth mentioning is that different audit firms have different quality reputations- some are paid more, some less. To go further the auditing as a made by recognised supervisory bodies (organisations whose members are all uditors or accountants) with little interference from the Government. Therefore all auditors are connected and their decisions affect the whole industry. An auditor should be independent because not only does he expose himself to risk of being sued and reducing his firm reputation but also bears responsibility to the whole audit profession. Besides auditors, the one who pays the price of fraud are shareholders, employees and sometimes even the society. There are many examples when dependent auditors concealed fraud, and the results are always disastrous, examples such as WorldCom, Enron, Rita Aid and Tyco. But lets see what happened in the 6th largest cable operator in IJS- Adelphia. In the beginning of the 2002 Adelphia Communications Corporation was found guilty for fraud, amounting to 2. 3 billion dollars of concealed liabilities. The SEC (The Securities and Exchange Commission) distinguished 3 types of fraud- Hiding debt, misleading information concerning the performance of the corporation and many deceitful omissions. Deloitte was providing Adelphia with external Audit for more than 15 years, but suddenly (in the end of 2001) they stopped working, claiming that the information rovided by Adelphia was unreliable. .u1f30b159002e669b8f2e0cd43fcfb22e , .u1f30b159002e669b8f2e0cd43fcfb22e .postImageUrl , .u1f30b159002e669b8f2e0cd43fcfb22e .centered-text-area { min-height: 80px; position: relative; } .u1f30b159002e669b8f2e0cd43fcfb22e , .u1f30b159002e669b8f2e0cd43fcfb22e:hover , .u1f30b159002e669b8f2e0cd43fcfb22e:visited , .u1f30b159002e669b8f2e0cd43fcfb22e:active { border:0!important; } .u1f30b159002e669b8f2e0cd43fcfb22e .clearfix:after { content: ""; display: table; clear: both; } .u1f30b159002e669b8f2e0cd43fcfb22e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u1f30b159002e669b8f2e0cd43fcfb22e:active , .u1f30b159002e669b8f2e0cd43fcfb22e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u1f30b159002e669b8f2e0cd43fcfb22e .centered-text-area { width: 100%; position: relative ; } .u1f30b159002e669b8f2e0cd43fcfb22e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u1f30b159002e669b8f2e0cd43fcfb22e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u1f30b159002e669b8f2e0cd43fcfb22e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u1f30b159002e669b8f2e0cd43fcfb22e:hover .ctaButton { background-color: #34495E!important; } .u1f30b159002e669b8f2e0cd43fcfb22e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u1f30b159002e669b8f2e0cd43fcfb22e .u1f30b159002e669b8f2e0cd43fcfb22e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u1f30b159002e669b8f2e0cd43fcfb22e:after { content: ""; display: block; clear: both; } READ: Wwii (474 words) EssayAfter the criminal investigation conducted by the SEC, Deloitte was accused of negligence, deception and failure to reveal fraud. According to the SEC (2005), the results are Deloitte Touche LLP has agreed to pay $50 million to settle charges stemming from its audit of Adelphia Communications Corporations fiscal year 2000 financial statements. Although Deloitte wasnt pronounced guilty, it is obvious that they could have easily detected and disclosed the omissions and fraud that they could have found. If that had happened, probably he scale of this catastrophe would have been smaller and Adelphia wouldnt have gone totally bankrupt. This case inevitably shows us the importance of independent auditing. Another threat to the independence of the auditors is a phenomenon which took place around 3 or 4 decades ago. During that time the number of firms which required audits stopped expanding, the codes that prohibited advertising accounting firms were abolished, which enabled all these firms to steal market from each other. Furthermore, a lot of audit bodies engaged into consulting, bookkeeping assistance, investigation and tax advices. This trend resulted in accounting firms gaining more revenue from consulting practices than from their main role in the society- monitoring and overseeing financial statements. Thus this led to a great conflict of interests, since consulting firms are supposed to be dependent and in good relationships with their clients but on the other hand audits should be carried in an independent manner. However, money makes the world go round and auditors were reluctant to perform strict audits because they risk losing sufficiently more income than before, so they lost their independence to a great scale. Typically, this loss of ndependence was followed by the Enron and Arthur Andersen great failures. Not surprisingly, the publics trust and confidence in accounting firms started to vanish in a fast pace. Fortunately, The Sarbanes-Oxley Act of 2002 forbid audit companies to offer both consulting and auditing services to the same firm, which helped improving the independence. Nowadays, the act is still in power and audit providing firms have the choice whether to provide auditing or consulting to publicly held companies. An Oxley Act of 2002, is the business alliance between PWC and Thomson Reunters in China. While according to U. K. regulations and U. S. law business coalitions between and auditor receiving company and the auditor itself are forbidden, it has Just been announced that Thomson Reunters (audited by PwC) has already signed a contract with PWC to provide PWC with corporate tax technology in China. Apart from that, Thomson Reunters provides PWC U. K. with software for dealing with tax clients. According to Francine McKenna (2012), Forbes, Its not known if PWC receives any financial incentives or special considerations for its exclusive use of Thomson Reuters software to provide tax services to its clients in China and the U. K. PWC did provide a ignificant amount of tax services to Thomson Reuters as part of its audit. In this case it is not sure if there are any distinct violations. Maybe there is a slight chance that this will be the next big failure, maybe not. What is for sure is that close business relationships tend to have negative influence on independence. In summary, the primal role of an external auditor is to provide an independent assessment of a companys financial statements. His assessment is an assurance to the readers of the financial statements, that these statements are fair and true, free of significant errors and misleading information. It is of utmost importance that the audit performer is truly independent, to have an independent attitude of mind, because, otherwise, under the pressure and influence of his clients, the auditor may act in a dishonest fashion. .ubfe02d698aad017b389a4b30911f6ed2 , .ubfe02d698aad017b389a4b30911f6ed2 .postImageUrl , .ubfe02d698aad017b389a4b30911f6ed2 .centered-text-area { min-height: 80px; position: relative; } .ubfe02d698aad017b389a4b30911f6ed2 , .ubfe02d698aad017b389a4b30911f6ed2:hover , .ubfe02d698aad017b389a4b30911f6ed2:visited , .ubfe02d698aad017b389a4b30911f6ed2:active { border:0!important; } .ubfe02d698aad017b389a4b30911f6ed2 .clearfix:after { content: ""; display: table; clear: both; } .ubfe02d698aad017b389a4b30911f6ed2 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ubfe02d698aad017b389a4b30911f6ed2:active , .ubfe02d698aad017b389a4b30911f6ed2:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ubfe02d698aad017b389a4b30911f6ed2 .centered-text-area { width: 100%; position: relative ; } .ubfe02d698aad017b389a4b30911f6ed2 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ubfe02d698aad017b389a4b30911f6ed2 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ubfe02d698aad017b389a4b30911f6ed2 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ubfe02d698aad017b389a4b30911f6ed2:hover .ctaButton { background-color: #34495E!important; } .ubfe02d698aad017b389a4b30911f6ed2 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ubfe02d698aad017b389a4b30911f6ed2 .ubfe02d698aad017b389a4b30911f6ed2-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ubfe02d698aad017b389a4b30911f6ed2:after { content: ""; display: block; clear: both; } READ: Federal Reserve Monetary Policy EssayEvery disclosure of fraudulence has detrimental effect not only on the auditing company or the auditor who produced the report, but on the audit profession, as a whole. The auditors economic interest reduces his independence and can cause conflict of interests, which can result in dreadful failures and catastrophes. There are many regulations that try to protect auditor ndependence by limiting and decreasing the auditors economic interest. So it is important for an external auditor to be independent because in the end, the cost of fraudulent report is paid by all people engaged to the examined company, sometimes it is even paid by the society. Bibliography Forbes (2013) PwC and Thomson Reuters In China, U. K. Business Alliance Violating Auditor Independence. PWC and Thomson Reuters In China, U. K. Business Alliance Violating Auditor Independence Available at: http://www. forbes. com/sites/ francinemckenna/2012/12/21 /pwc-and-thomson-reuters-in-china-u-k-business- lliance-violating-auditor-independence/ Kim, K. t al (2009) corporate Governance, Third Edition, prentice Hall, USA SEC (2013) SEC Charges Deloitte Touche for Adelphia Audit. 2013. SEC Charges Deloitte Touche for Adelphia Audit Available at: http://www. sec. gov/news/press/2005-65. htm [Accessed 05 February 2013 Sherer, M. Turley, S. (2007) Current Issues in Auditing, Third Edition, SAGE Publications, London Van Peursem, K. et al (2007) Three Cases of Co rporate Fraud: An Audit Perspective, Working Paper Series, 94 (1): PI-43