The Impact of Good Corporate Governance in Internal Control Essay

The Impact of Good Corporate Governance in Internal Control - Essay Example As result, nowadays, the corporate governance has a significant role to the companies to escape from failures in collapses or fraud. However, the discovery and prevention of fraud are significant challenges facing the business environment. Therefore, the ways in which companies' deals with fraud may enhance either the internal control and independent internal auditor or the need for forensic accounting. The forensic accounting is increasing in many organizations to identify situation, systems and security weaknesses by design and advise measure to reduce and limited inherent risk in the organization. The Enron and WorldCom in the US corporate collapses and fraud shook the foundation of the financial system and corporate governance, therefore; regulators in the U.S reform corporate governance by established the Sarbanes-Oxley act in June 2002 and Cadbury in the UK, in 1992, which now combine code. This assignment will illustrate the impact of good corporate governance in internal cont rol and internal auditing function to prevent fraud and detection. 2. Corporate governance and the prevention of fraud and detection Through the decades, the increase of the complexity of organizational activities have resulted to the increase of the difficulty of their control.   However, a mechanism should be also established ensuring that the rules and the guidelines included in the firm’s corporate governance scheme are followed. In any case, the value of the corporate governance as a framework for preventing fraud and defection across the organization cannot be doubted. This view is analytically explained below referring primarily to the main aspects and the role of corporate governance as a strategic tool for monitoring the progress of the organization in regard to its aims and mission; at the next level, the role of corporate governance in preventing fraud is presented explaining the challenges and the benefits of the involvement of corporate governance in such activity. 2.1 Corporate governance – role and characteristics Different approaches can be used in order to explain the role of corporate governance in modern organizations. In accordance with Anand (2007) corporate governance is a framework that ‘incorporates almost every aspe ct of corporate life’ (Anand 2007, p.77); however, it is explained that in its common form, the corporate governance framework consists of rules that aim to protect the interests of the firm’s shareholders (Anand 2007). On the other hand, Du Plessis et al. (2010) note that the term ‘corporate governance’ can incorporate many elements; among these elements two are considered to be the most important: the promotion of the interests of the shareholders and ‘the regulation/ monitoring of the corporate conduct’ (Du Plessis et al. 2010, p.10).  

Recommendation report Essay Example | Topics and Well Written Essays - 750 words

Recommendation report - Essay Example This recommendation paper intends to discuss on the comparison among eco-tourism and commercial as well as business. The paper also discusses the effectiveness of green marketing on eco-tourism. Comparison between eco-tourism and commercial tourism Commercial tourism is also known as adventure tourism. Commercial tourism enables people to build a coherent amount of experience by organizing their own tools and equipments in synchronizing their recreational habits of making a pleasant vacation (Buckley, 2006). Even though, at the onset, commercial tourism may be identified as a quite distinct from the notion of eco-tourism, both the concepts are regarded to be inclusive parts of nature tourism. However, it can be stated that in comparison to commercial tourism, ecotourism has greater connection with the cultural and rural heritage as well as resources. In ecotourism, the prime objective is the appreciation provided by tourists while observing the natural resources of the environment as well as the assets belonging to the cultural dimensions of the host region. On the other hand, commercial tourism is merely an exercise in the physical aspects and facing challenges from environment al attributes present in the host region. However, from the functional point of view, it can be stated that ecotourism, in the global market place currently represents a small-scale tourism sector while commercial tourism extends from small-scale to luxurious hotel facilities (Wood, 2002). Comparison between business tourism and eco-tourism Apparently, eco-tourism is widely distinct from the concept of business tourism, although, in often instances, it has been observed that eco-tourism tend to have a significant influence on business tourism. It is in this context that eco-tourism endeavors encouragement to the hoteliers as well as foreign nations by supporting them with better expansion opportunities to obtain higher competencies through innovation and differentiation by incorporating the notion of eco-tourism. It is worth mentioning in this context that contemporary business tourism is possibly based on the successful implementation of the eco-system model which further acts as a significant linkage between the two concepts of business tourism and eco-tourism. One of the similarities existing between business tourism and eco-tourism can be identified as the involvement of tour operators, tourists and local communities. The only difference in this context is the size of the industrial implications of these practices (Buchsbaum, 2004). Effectiveness of Green Marketing on Eco-tourism It can be apparently observed from the above discussion, that in comparison to commercial tourism and business tourism, eco-tourism tends to be more challenging in terms of growth prospects, diversity and customer attractiveness. Apparently, the spheres of these concepts are comparatively broader than that observed when assessing eco-tourism. However, one of the positive aspects in ec o-tourism which can be used in order to attain competitive industrial appraisals in incorporating the concept is green marketing (Wu, Zhu & Xu, 2000). Green marketing has become increasingly significant in determining the consequences of relationship that are prevalent among man and the environment which works as a rudiment of the

Machine guns Essay Example | Topics and Well Written Essays - 1000 words

Machine guns - Essay Example . automatically more than one shot, without manual reloading, by a single function of the trigger† (National). This is one example where laws confuse us more than help. The machine gun has had a checkered history; it was invented in the mid nineteenth century by Dr. Richard Jordon Gatling, and was known as the Gatling gun. He patented his invention in 1861. The Gatling gun was the first rapid firing gun which can precisely be referred to as the ancestor of modern machine gun. Dr Gatling said â€Å"it occurred to me that if I could invent a machine-a gun- which could by its rapidity of fire enable, one man to do as much battle duty as a hundred that it would to a large extent supersede the necessity of large armies and consequently, exposure to battle and disease would be greatly decreased (Richard par 4).† This was followed in 1885 by a Maxim gun which was the first machine gun that was self powered, in that it used the recoil energy of the previous bullet to load and fire the next bullet. The modern machine gun is a development of the Maxim gun. All machine guns for firing use a basic mounting which is as follows People have been collecting guns all over the world for decades. It is similar to people like collecting swords. But now a new hobby has emerged of collecting machine guns in most countries of the world, owning a machine gun is illegal, but in the United States 34 states of the union, it is legal for citizens to own and shoot with machine guns. In case you wish to start a hobby as a machine gun collector then please do ensure that the state you reside allows you to own a machine gun. In some states such as Delaware, Hawaii, Iowa, Illinois, Kansas, New York, Rhode Island, South Carolina, Washington State and the district of Columbia, have a total ban on privately owned machine guns. However, despite the above quarters of million Americans own machine guns. The National Firearms Act 1934 is the nodal act that governs

Human Nature in studies of philosophers Essay Example | Topics and Well Written Essays - 1500 words

Human Nature in studies of philosophers - Essay Example This research aims to evaluate and present the issue of human nature using studies of different philosophers. Distinguished Chinese philosopher of ancient era Mencius (372-289 BCE) strongly believes in the innate goodness of human nature, which humans inherit from their ancestors. It is therefore he vehemently advocates in favor of following the life patterns of the ancestors in order to achieve perfection in their character and personality ultimately. Moreover, according to him, if humans are provided with adequate education and training, their qualities could further be polished and improved. However, Hsà ¼n Tzu (298-238 BCE) does not find righteousness in human nature. On the contrary, he is of t.he view that human nature is evil and can be improved through socialization. Another eminent philosopher of ancient times, named Kao Tzu (420-350 BCE), aptly acknowledged to be one of the most talented thinkers in the history of China, refutes both the above-mentioned doctrines, and decl ares human nature as clean slate, which studies and follows only what it observes being practiced by others in its social and natural environment. Thus, human nature is neither good nor bad altogether, according to Kao Tzu, and follows the same which is taught to it. Eminent 19th century German philosopher Georg Hegel (1770—1831) has also made a comparative analysis of the doctrines presented by Hsun Tzu and Mencius while elucidating the concepts of innate evil and innate goodness respectively. Somehow, Hegel seeks further wisdom in both these theses, where both these doctrines serve as thesis and antithesis to each other. Hegel declares goodness and evil as occasional in nature and scope due to the very reality that absolute righteousness or complete wrong-doings do not prevail in any part of the globe. In other words, no one can be stated as completely sublime and righteous or absolutely monstrous and obnoxious. For instance, a robber could be harmful and destructive for so ciety, though would be a kind and benevolent person in his domestic life, and may treat his children with great love and affection. Similarly, a pious person may commit genocide out of sheer feelings of revenge or abhorrence for his opponent or rival. Moreover, Otto von Bismarck (1815--1898) is regarded as a great German nationalist, though his name brings displeasure on the countenances of the French public at large. Since absolute goodness and evil do not exist in any part of the globe, declaring anyone as the representative of good or evil does not carry weight in the eyes of the philosophers, thinkers and intellectuals. Hegel alludes to the gallant deeds displayed by the soldiers while saving the boundaries of their country. (Austin, 624-25) Since they are also

Occupy Wall Street Movement Coursework Example | Topics and Well Written Essays - 1000 words

Occupy Wall Street Movement - Coursework Example This coursework follows a world-wide phenomenon, known as The Occupy Wall Street movement, that started in 2011 on September 17 on Liberty Square in Manhattan’s Financial District. This movement spread across the 100 cities in the United States as well as 1500 cities globally. In this coursework the history, motives and effects of the movement are analyzed. The movement was intended to seriously question role of multinationals, corporate and banks in specific that have played significant role in causing the recession. The researcher focuses on the main single motive behind the movement of Wall Street, that was to force businesses and to balance the power across the board. This simple motive united many people of different social classes, celebrities and politicians. In this coursework the rising inequality in the United States topic was also well described as one of the movement's motives. The Occupy Wall Street movement erupted against inequality to support equal pay for everyone in the corporative structures regardless on their nationality, gender or skin color. In conclusion of the coursework, it's author states that the movement of Occupy Wall Street, despite celebrated its anniversary recently, seemed to fail and analyzes three possible answers as to why it happened. Hence, though OWS is still being supported by some people, it may only leave marks in the history as being one among the movements that might lead to world change but does not appear to sustain as single change driving movement.

Survey Essay Example | Topics and Well Written Essays - 3000 words

Survey - Essay Example This is possible since it obtains data from Google maps and tweeter and thus utilizes them as one. This paper is a summary of a thesis by Mahtab Arafat who proposes the development of a DaaSMashup Model, which will work with multiple DaaS providers to improve efficiency of data extracted from single DaaS Provider while maintaining high standards of privacy. Privacy-Preserving DaaSMashup framework should ensure that different DaaS provider have a platform where they can share data from their database with other DaaS on a secure platform. DaaSMachup systems will be very effective where DaaS provider cannot solely provide consumer’s data requirement. The result of integration of different DaaS providers can result to provision of clients with data high levels of accuracy, efficiency, and reliability. Some of the reasons that cause reluctance to the willingness of DaaS providers to share their data include data quality, privacy concerns, and the ability to match a data request. Cloud based framework for the preservation of the DaaS mashup is critical for enhancing the security of the DaaS providers. This paper is critical in providing information on greedy algorithm to the providers’ of DaaS mashup. In essence, the paper explores the measures of securely integrating the data from many DaaS providers. These providers are critical in preserving the security and privacy of the resultant mashup data. A client may be willing to pay a price for a specific nature of data however the DaaS provider may lack enough data on their database to present to the client. Even with privacy issues put to concerned care should be taken to ensure that the data quality obtained after the integration of the systems is not compromised. The privacy concerns about data involves the fact that private data on respondents being licked. Most organizations are against private data of their getting on to the wrong hands as this poses

U.S. foreign policy on Mexico Essay Example | Topics and Well Written Essays - 1500 words

U.S. foreign policy on Mexico - Essay Example U.S. foreign toward its Mexico can be analyzed as driven by promoting free market reforms and enforcing market prohibitions. This means tightening controls over prohibited cross-border economic flows and at the same time promoting a borderless free trade area.U.S. drug and immigration control strategies focus primordially on curbing the foreign supply and secondarily on identifying the sources of demand: consumers of drugs and employers of migrant workers. In a nutshell, US efforts have confronted the demand side of the problem--America's inherent dependence on both.As US scramble to beef up border controls on Mexico, puny efforts are given to tide down the powerful economic forces that drive so many Mexicans to illegally enter the United States. The Border Patrol can only do so much by making life much harder for illegal border-crossers. The underlying push-pull factors that motivate illegal labor migration remain stronger than ever. On the pull side, important sectors of the U.S. e conomy, such as agriculture and the garment industry, rely on illegal workers. The US government crackdown on employers using illegal aliens is weak, poorly designed, and minimally enforced.The first priority should be to raise and enforce labor standards. Genuine enforcement of existing workplace rules such as the implementation of minimum wages, overtime, and environmental, health, and safety regulations will make it difficult for employers to engage in the exploitation of workers, hence, denying them their most important incentive to hire illegal labor. These efforts should especially target sweatshop employers who are despicable for their abuse of workers and disregard of labor standards. This strict emphasis on raising labor standards by tightening workplace controls would contribute toward addressing the root of the problem than simply tightening border controls. US domestic efforts on the pull side is combined with initiatives to address the conditions in growth of small-and medium-scale labor-intensive industries in rural regions, where most of the job displacement is occurring. These measures require active state intervention in managing the economic transition in the countryside rather than the current laissez-faire approach. The Mexican government had no strategy for handling the millions of workers who are being displaced as a result of market reforms. However, the United States has a strong interest in cooperating with Mexico to devise and promote development programs and social safety nets that minimize the incentive for workers to cross border to the US. Multilateral institutions like the World Bank can assist these efforts by including migration concerns centrally into their programs. The IMF and the World Bank have not considered migration issues in their policy management. Indeed, many of the market-based reforms they support end up fueling migration both in the short and medium term. The main goal of the NAFTA is to spur economic development so that migration pressures will be reduced in the long run. The US can help Mexico manage the difficult process of economic restructuring by helping it cope with the mass displacement of Mexican labor. This requires active government involvement rather than faith in market solutions. The market solution tends to be that of exporting the labor surplus to the United States. For example, Mexico can be encouraged to increase the minimum wage to begin closing the wide wage gap between the two countries. The United States and Mexico can unite to slow down the growth of the border region, since this area has traditionally served as a magnet for northward migration. The United States can encourage Mexico to implement its agricultural reforms to encourage the people to stay in the country. The US can help Mexico through tax incentives and financial and technical assistance. The Mexico experience shows that the free market reforms can also free up the drug