The Rule Of Generally Accepted Auditing Standards

The Rule Of Generally Accepted Auditing Standards
This paper examines one of the rule of Generally Accepted Auditing Standards (GAAS),
independence and discuss the shortcomings in the GAAS. Independence can be effect by many
different reasons. Auditors might face challenges in applying concepts and interpretations under
circumstances where in conflict with the auditor's relationship with the audit client. To improve
audit quality and protect investors' interest, PCAOB reviews the work of public accounting firms
that do audits of more than 100 public companies annually. The PCAOB's 2008 and 2009 Reports of
PricewaterhouseCoopers LLP (PWC) will be used in this paper as examples of shortcomings of time
and resources devoted during an audit to bring out efficient work.
One of the standards in Generally Accepted Auditing Standards is that the auditor must maintain
independence in mental attitude in all matters relating to the audit. (AICPA, AU §150.09, para. 4)
Independence is an essential standard for all auditors to maintain and when take on new roles. The
public trusts the auditors with their proficiency and knowledge to bring more confidence to the
public in reviewing companies' financials. The accountants and auditors are consider trustworthy
professionals. There are many studies that question accountants and auditors' responsibility.
Independence is one of the main challenges today and the second challenge is the inefficient
functioning of account firms. The AICPA's rule on independence prevents auditors from
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An Evaluation Of An Internship At The Firm...
"Competing on Analytics" defines an analytical competitor "as an organization that uses analytics
extensively and systematically to outthink and out execute the competition."(1) Business analytics is
a new way for companies to separate themselves from their competitors. I recently completed an
internship at the firm PricewaterhouseCoopers (PwC) and will work there full–time upon
completion of this program. PwC uses analytics to help solve complex business issues and to
identify opportunities across different industries. PwC is the largest professional service company in
the world and is part of the Big Four accounting firms. PwC operates in over 157 countries with
more than 750 offices throughout the world.(2) PwC is structured into three service lines, which are
Assurance, Advisory and Tax. The assurance practice audits almost 30% of the global fortune 500
companies.(2) The advisory practice is mainly consulting activities that cover strategy, cyber
security and privacy, human resources, deals and forensics. (2) These three practices generated
$35.4 billion in revenue in 2015. (2) Position and Ability to Compete on Analytics Today, data is a
growing asset that various businesses are having difficulty converting into a powerful strategic tool.
Companies need help turning this data into valuable insight, which can diminish risk and enhance
returns on investments. Companies are struggling to make sense and obtain value from their big
data. Superior and reliable

Example Of Sqwidnet Network
For being South Africa's fast growing loT network– SqwidNet
Launched in 2016 as a licensed Sigfox operator in South Africa, SqwidNet network offers low–cost
access to Internet of Things (loT) solutions and operators in South Africa, creating opportunities for
businesses to create innovative solutions. SqwidNet's Sigfox network enables low–cost, low–power,
and secure connectivity for IoT data transmission upon which IoT devices, platforms, applications,
and solutions can be developed.
The company's common stock is 100% owned by DFA, the premier open–access fibre company.
The SqwidNet network gives nationwide coverage for IoT, allowing millions of sensors and devices
to send small packets of data for analysis, immediate action, and record ... Show more content on
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That is where Outsourced CFO comes in with the business expertise of a passionate Chief Financial
Officer, or CFO, tailored to one's strategy and budget.
Outsourced CFO provides integrity and professional excellence in financial consulting for ambitious
SME's. Succeeding through uncompromising quality and industry thought leadership, the company
aims to help clients rethink, automate and scale their companies in the pursuit of business
prominence.
As entrepreneurs themselves, Outsourced CFO understands the important role finances play in the
success of a business. Sound financial planning and management enables businesses to grow and
flourish, while the lack of adequate planning could spell inevitable failure.
The CFOs have helped many emerging companies realise triple digit growth rates and have helped
raise millions in seed and growth finance for SMEs. Outsourced CFO offers its services in three
packages, Performance (8 hours per month), Growth (16 hours per month) and Eminence (32 hours
per month).
In 2017, the company announced the launch of its latest eBook, What Your CFO Needs to Know
about Outsourcing Software Development. The guide features exclusive information from its
president, Andy

The Route Less Taken Essay
Thud! I almost regretted buying my iPhone. What I regret even more was setting the alarm to
5:00am. I rolled off the bed and felt an immediate blast of humidity. Slowly, the outline of my
apartment gained resolution. I could see a clear view of the tropical trees and the worn down
apartment building. The acrid smell of construction and rubber was relentless. I was careful not to
wake my grandparents or my sister and suddenly, I remember why I had my phone woken me up.
"Crap. Time to go jogging." Before I left, I called the lobby for the temperature. "आज मौसम कै सा
है?" My years of proficiency in Hindi is acknowledged, yet the voice responds, "34 Degrees, Sir," in
exceptional English.
I stepped outside my building and started jogging. It ... Show more content on Helpwriting.net ...
Even in a globalized world of countries that are interdependent on one another, there still is progress
to be made. I could not help but smile.
Continuing my run, I reached the Ganges River, and surprisingly found my cousin, Archit, there. He
is studying to become a CA for Price Waterhouse Coopers' India office. We talk of life and politics,
although with India's politics it seems the majority of people want progress. Progress for small
businesses and more support for the ideas that they create from both the government and businesses.
I felt obligated to represent my country as best I could, remarking on how Canadian businesses like
Selinger, a construction development company, and Blackberry have successfully entered the
market, created jobs for many unemployed people, and helped found hundreds of new ventures. "It's
not enough," according to Archit. It's conversations like these that brought a new sense of urgency
and opportunity to my time in India.
Looking forward, I realize how useful The Schulich School of Business and its iBBA program could
be to me. The program would allow me to connect with more people and companies on an
international level, allowing me to effectively harness my newly acquired linguistic skills to gain a
global perspective, and help build sustainable solutions using all my experiences as a guide. This
would make me an

Segment Reporting
A practical guide to segment reporting September 2008 PricewaterhouseCoopers' IFRS and
corporate governance publications and tools 2008 IFRS technical publications IFRS Manual of
Accounting 2008 Provides expert practical guidance on how groups should prepare their
consolidated financial statements in accordance with IFRS. Comprehensive publication including
hundreds of worked examples, extracts from company reports and model financial statements. IFRS
Pocket Guide 2008 Provides a summary of the IFRS recognition and measurement requirements.
Including currencies, assets, liabilities, equity, income, expenses, business combinations and interim
financial statements. A practical guide to segment reporting Provides an overview of the ... Show
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2 | PricewaterhouseCoopers – A practical guide to segment reporting Contents Page Introduction
Key implementation issues Key differences between IFRS 8 and IAS 14 What to do on first–time
adoption of IFRS 8 IFRS 8 at a glance Questions and answers 1. Identifying operating segments 2.
Aggregating and reporting segments 3. Segment disclosures 4. Other matters for consideration 4 5 6
7 8 12 14 19 27 33 PricewaterhouseCoopers – A practical guide to segment reporting | 3
Introduction IFRS 8 ('the standard') aligns the identification and reporting of operating segments
with internal management reporting. Segment reporting under IFRS 8 should highlight the
information and measures that management believes are important and are used to make key
decisions. It should also provide a better link between the financial statements and the information
reported in management commentaries such as the Operating and Financial Review or Management
Discussion and Analysis. The standard converges IFRS with US Accounting Standard SFAS 131
'Disclosure about Segments of an Enterprise and Related Information'. This publication explains the
key requirements of the standard and some practical issues for entities to consider when it is applied
for the first time. 4 | PricewaterhouseCoopers – A

Transaction Services Tax
Transaction Services
TS Insights
List bullet List bullet Sub bullet
evaluation of the other two sources of taxable income ― Vol. 3
Heading 2
Financial reporting in an uncertain economy
A closer look at income tax valuation allowances October 2009
Additional text goes here. Heading 3
Additional text goes here. Notwithstanding early signs that the global recession may be waning, the
uncertain economic future continues to constrict corporate America. As companies continue to incur
losses, focus has heightened on income tax valuation allowance assessments by companies and their
auditors, as well as the Securities and Exchange Commission staff, through the issuance of comment
letters. Specifically, much of this focus is ... Show more content on Helpwriting.net ...
While not defined by ASC 740, practice has generally been to consider the most recent three years
when assessing cumulative losses. Positive evidence of sufficient quantity and quality would be
needed to overcome this significant negative evidence and conclude that a valuation allowance is
not warranted. As with all elements of available evidence, a cumulative loss is simply one data point
– it is not a "bright line" test that is in and of itself determinative of the need for a valuation
allowance. To illustrate, assume that a company is in a three–year cumulative income position of
$10 million, but the results of the past three years have flipped from income to losses (2006: income
of $100 million; 2007: loss of $30 million; 2008: loss of $60 million). Does the fact that the
company is still in a three–year cumulative income position at the end of 2008 automatically suggest
that a valuation allowance is not warranted? On the other hand, assume a company had previously
recorded a full valuation allowance and incurred a loss of $100 million in 2008, but earned $30
million in 2009 and $60 million in 2010. Does the fact that the company is still in a

Reasons Why Motorola's Fundamentals Are Strong And Why...
This memo will outline the reasons why Motorola's fundamentals are strong and why
PricewaterhouseCoopers should consider their investment opportunity. I utilized the 4+2 company
evaluation method from the Harvard Business Review article, What Really Works. I conclude from
my review that two out of four primary indicators I determined as "healthy", two out of four for the
secondary, and one out of two for the additional categories. This does not fulfill the 4+2 winner
system. Although I can't classify this as a winner I do consider Motorola to definitely be a climber.
This system considers four primary and four secondary factors that indicate the overall health of a
company. Please review the information below and be ready to meet and ... Show more content on
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Motorola must innovate current technology to keep users connected beyond their phones and to
other applications as well. In other words, for Motorola to win the game, perhaps they have to
change the rules of the trade (in terms of innovative technology such as Snapchat and Facebook).
Motorola is extremely focused on their own research and development and place a large emphasis
on the importance of innovation. Strong liquidity within the company proves to be a large advantage
for Motorola compared to its less–so–liquid competitors. Companies with cash flow problems tend
to have many difficulties while operating within day to day business activities. Execution Motorola
passes this requirement with flying colors. Employees rely on their ability to effectively and
efficiently execute consistent business practices. Many municipalities and disaster relief efforts use
Motorola's hardware and software technology as a foundation for their own practices and work.
Chad Werkema emphasized in a video interview that Motorola's current supply chain execution
within the company is the underlying driver of their continued success, "Execution, it's just that
plain simple, our customers rely on us". He further stressed the importance of timing and delivery;
disasters need immediate relief, simply put. Motorola may be widely known among Americans as

Ford and Toyota Case Study Essay
1a.Describe the history of Ford, its current business, operating sectors, and reportable segments.
Ford Motor Company was incorporated in Delaware in 1919. They acquired the business of a
Michigan company, also known as Ford Motor Company, which had been incorporated in 1903 to
produce and sell automobiles designed and engineered by Henry Ford. They are one of the world's
largest producers of cars and trucks. They and their subsidiaries also engage in other businesses,
including financing vehicles. They have two operating sectors: automotive and financial services.
Within these sectors, their business is divided into reportable segments based upon the
organizational structure that they use to evaluate performance and make decisions on ... Show more
content on Helpwriting.net ...
2a. What is the purpose of the Form Def 14A? A proxy statement is a statement required of a United
States firm when soliciting shareholder votes. This statement is filed in advance of the annual
meeting. The firm needs to file a proxy statement, otherwise known as a Form DEF 14A, with the
U.S. Securities and Exchange Commission. This statement provides important information and is
useful in assessing how management is paid and potential conflict–of–interest issues with auditors.
2b. What does "Def" stand for? "Def" stands for "definitive proxy statement". 2c.What types of
information does a proxy contain? According to Ford Def 14A: "A proxy is another person that you
legally designate to vote your stock, if you designate someone as your proxy in a written document,
that document also is called a proxy or a proxy card." The proxy discloses important information
about issues to be discussed at an annual meeting, lists the qualifications of management and board
members, serves as a ballot for elections to the board of directors, lists the largest shareholders of a
company's stock and provides detailed information about executive compensation. 3a. Who are the
board members that are standing for election at Ford in 2010?

Price Waterhousecoopers
PricewaterhouseCoopers is one of the largest auditing firms in the world. The largest auditing firms'
collectively has been called the Big 4 since 2002. The list of the largest auditing firms have been cut
in half since the 1980's due to mergers with other large auditing firms. To call the Big 4 auditing
firms is misleading. They each are a professional services network. Each firm in the network is
owned and managed independently. The current PricewaterhouseCoopers came into being in 1998
when Coopers & Lybrand and Price Waterhouse merged into one. Both Coopers & Lybrand and
Price Waterhouse, are auditing firms that were started in London in the 1840s. Soon, both firms
starting to merge with other firms to create larger ones with more stake on the global market.
Coopers & Lybrand quickly spread to Canada and the United States while Price Waterhouse went
for a more global take over (Boys, 2005). PricewaterhouseCoopers is a large international firm that
has 236,235 employees across 157 countries and almost 750 locations including Spartanburg, South
Carolina and New York, New York to Frankfurt, Germany and Freetown, Sierra Leone. Their clients
range from leading multinational companies to family businesses and governments all over the
world. In 2016, PricewaterhouseCoopers client list included 419 companies on the Fortune Global
500 list, and 423 on the US Fortune 500 list. They also work with over 100,000 entrepreneurial and
private businesses around the world (PwC 2017

The Health Star Rating System
9512253 Jarvis
The Health Star Rating System is a government initiative designed to assist in obesity prevention.
This essay reviews PriceWaterhouseCooper's Cost Benefit Analysis of the Health Star Rating
System. This analysis of the system concludes that the government should intervene in the
Australian food industry via the Health Star Rating System to a significant extent and should focus
on the implementation of complementary obesity prevention methods, including increased funding
for health awareness and education. This conclusion is based on consideration of equity, efficiency
and political acceptability criteria.
The Health Star Rating system was devised to address Australia's health "epidemic" by encouraging
consumers to make smarter choices when purchasing their food through the implementation of an
interpretive labeling system (PriceWaterhouseCoopers, 2014, page 6). PriceWaterhouseCooper's
cost benefit analysis of the system outlines health trends and draws conclusions around the need for
implementing such a system for the Australian food industry (PriceWaterhouseCoopers, page 6).
According to the report, the benefits of a preventative system far outweigh the costs of focusing on
treatment for those already diagnosed with obesity (PriceWaterhouseCoopers, page 4). Having an
increasingly high percentage of overweight and obese people within our community has well–
documented health implications, and also has a burdening effect on the economy. In 2008, the total

Kaiser Permanente Corporate Diversity
In order for a company to survive in the twenty–first century, they most introduce diversity into their
workplace. Affirmative action was only the beginning into bringing diversity to white collar jobs. If
a company wants to be successful, they must learn to manage diversity in order to produce an
effective workplace. Many companies have captured this idea of using diversity for their advantage
to become some of the top companies to work for. As said in case 5.1, comparing the companies that
were awarded diversity awards will show what other companies need to be doing in order to expand
their diversity in the workplace. I have decided to compare the mission statements and diversity
statements of the top five companies (Novartis Pharmaceuticals ... Show more content on
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With the workforce of the Chicago plant being 87% white males, Northern Sigma is not collecting a
diverse talent pool. The minorities that do work there are dissatisfied with the company and have a
high turnover rate. In order for this company to expand their diversity, they must begin with
diversity training and tools such as PriceWaterhouseCoopers LLP. This will bring awareness and
understanding of the differences, and how diversity can be used to the company's advantage. If the
white males do not include the minorities, the company will never expand their diversity and reach
their potential. Next, the company must begin promoting the minorities within the company, if there
is a glass ceiling within the company, their talent pool will leave. Once they have minorities
promoted, they will begin to be able to draw in a more diverse talent pool. This will make minorities
feel more included in the company and feel free to express their ideas. Taking these steps will help
Northern Sigma create a more diverse workplace and make their employees feel welcome to express
ideas and

10 Year Goal Plan Research Paper
I have currently set a ten–year goal plan for myself. My first goal is to complete college in about 6
years, with a Master's/CPA degree. The next stage of my goals is to switch my career to a position
dealing with accounting, which will help me pursue a career position with PricewaterhouseCoopers.
In this paper I will discuss PWC as a company, how am I preparing myself for my future, and how
technological developments will affect my career goals. How will I become an accountant at PwC in
ten years or less?
How am I preparing myself for my future? I am currently a freshman year student at Thomas Edison
State University, pursing a bachelor's degree in accounting. My bachelor's degree should take me a
little over 3 years to complete the credits needed. I will then continue on to work on and complete
my Master's/CPA degree. I am currently personally working online training myself in course with
Microsoft Certification and QuickBooks training, so it can ... Show more content on Helpwriting.net
...
Yes, I want to be an accountant but before this assignment I didn't think about which company
would I like to work for, now I know. Also I didn't consider an intern program, and now I'm looking
forward to applying to an intern program that pays a salary. I plan on keeping up with the
technology used in the accountant industry. I will constantly meet with a business advisor offered by
my university to make sure I'm continuing on track. Yes, this is the beginning of my journey and has
been an extremely rough start, but it also has been a wonderful learning experience. I recently have
had the pleasure of meeting an employee of PwC who gave me information verifying how
wonderful of company they actual are. This assignment completely made me realize that I need to
become more organize and learn how to stay on schedule. If I take all this information into
consideration my future with PwC will be very

Diversity Management
Managing Diversity* July 2009 Creating competitive advantage through cultural dexterity
Highlights Cultural dexterity is a business skill that enables effective collaboration and
communication among people across multiple dimensions of diversity. Collaboration within a group
of diverse people, who approach problems from different perspectives, improves corporate
performance. The environment a company creates can enable–or impede– the success of its
employees. Leaders are personally accountable for creating a culture in which all employees clearly
understand what success is and how to achieve it–and are actively encouraged to participate. Facing
continued economic uncertainty and concerned with the short–term demands of meeting ... Show
Racism, she learned, was other people's problem, not hers. Author Malcolm Gladwell described a
charter school in the South Bronx, New York, that replaces a culture of futility with one in which
effort and reward are directly connected; 80% of the school's graduates go to college, becoming, in
many cases, the first in their families to do so. Similarly, it is a company's responsibility to create an
environment that offers systemic opportunities equally to all employees. This involves:
Understanding that progress requires effort; progress is not the inevitable result of population shifts.
Research reveals that in the past year, women have gained little ground in the upper echelons of
management. Although they constitute 50.6% of managerial, professional, and other, related
occupations, women represented just 15.2% of the boards of those companies in 2008 compared
with 14.8% in 2007; in 2008 women held only 6.2% of the top earner positions compared with 6.7%
in 2007.5 Without constant attention, progress stalls–and can dissolve. Diversifying the diversity
office. Don't restrict leadership and involvement to women and minorities. Create rotational tracks
in roles that include employees of all backgrounds, including white males. This embeds a firsthand

Analysis Of Morgan Security Audit Pricewaterhouse Cooper
J.P.Morgan security audit Pricewaterhouse Cooper INTRO According to Institute of Global Ethics
"Ethics in its broader sense, deals with human conduct in relation to what is morally good and bad,
right and wrong. It is the application of values to decision making. These values include honesty,
fairness, responsibility, respect and compassion" (He 2017) therefore they are principles of right
conduct. Unlike morals which are the principles of right/improper conduct depends person to
person. BODY In 2012, PricewaterhouseCooper (PwC) was fine by AADB The Accountancy &
Actuarial Discipline Board, financial regularity authority in United Kingdom, for wrongly reporting
that J P Morgan have complied with statutory requirement. This negligence in ... Show more content
on Helpwriting.net ...
In 2010, the AADB started investigations into the conduct of professional firms, such as EY and
JPMorgan (En.wikipedia.org, 2017). The PwC were charged £1.4mllions by the AADB after failing
to report that the investment bank JP Morgan's systems is not as per the statutory requirement and
are not sufficient to safeguard the clients' assets (Treanor, 2017). JP Morgan had been mixing their
clients funds with their own's for a period of seven years. It was PwC's task to submit a report to
Financial Services Authority (FSA). The report suggested that JP Morgan have followed and
complied with relevant framework and had in place internal control system to safeguard clients'
funds. An investigation led by FSA revealed that JP Morgan is guilty of violating the rules of not
segregating their funds with their clients'. This is lead to doubt in professional integrity of PwC's
work. This error, if quantified, meant "an average of £5 billion of client money was at risk each day"
(Treanor, 2017). "JP Morgan was fined £33millions in June 2010 for failing to segregate client
money from its own funds over a seven–year period" (Treanor, 2017). Furthermore, PwC admitted
that it has failed to

Pricewaterhousecoopers : Human Resource Review
PricewaterhouseCoopers Human Resource Review Prepared by: Chunming Liu Instructor: Elaine
Lau 2014/12/5 Introduction PricewaterhouseCoopers (PWC) is a global professional service
company that mainly provides assurance service, advisory service, tax planning and legal and
financial business. PWC ranked third in Forbes Global Ranking, ranked first in accounting and it is
one of the Big Four audit firms. PricewaterhouseCoopers has opened business in over 150 regions in
the world and it owns over 184,000 employees. There are some contributors to its success from
human resource management in PWC. The most information in this paper is mainly from official
webpage of PWC (www.pwc.com). Recruitment and Selection Practices The PWC select their
employees by considering both sides' need and they also care about the motivation of applications.
Similarly in our text book, it is mentioned, most organizations are looking for employees who are
"qualified for the position but also want the job" (Ivancevich& Konopaske, 2013). The culture of
PWC is "We recruit top talent with a focus on diversity and inclusion". PWC believes that their
company culture is created by the people they have and it's the core of their success. Meanwhile,
PWC put credit on diversity of their employees. The chairman of PWC says: "Diversity is a key
issue for us". PWC is currently working on female millennials program, to train and develop
female's leadership to make full use of talents of women

CPA Personal Statement
I always believe and follow in the quote, "Don't run behind success, run behind excellence, and
success will run behind you"– Kamari aka Lyrikal. That's how I am preparing myself for the
Complicated Tax world to help the client with excellence service. Without the CPA license I am
unable to serve all kind of clients, but my career goal is to serve all kinds of clients, and the CPA
license can benefit me reaching my career goal. There are a lot of valuable characteristics an
effective CPA should have. But I believe one of the best characteristics is to keep themselves up–to–
date with all the latest rules and regulations that might impact their clients. When I was working as a
Core Tax Preparer at the Liberty Tax Services in the Bronx, I prepared more than 500 individual tax
returns. As most of my clients' income was in six figures with dividends income, rental properties,
debt cancellation, job expenses, business expenses and other complicated tax concerns. To file my
clients tax returns error free and helping them getting their highest legal tax credits and refunds I
always kept myself up–to–date with the recent IRS, State and Local tax rules and regulations. I used
to read the ... Show more content on Helpwriting.net ...
Working for Liberty Tax Services and now with Pricewaterhousecoopers LLP I have learned and
polished my procedure skill. Now, I am confident to say that my procedure skill is strong, and my
team–members say the same for me. I always make sure I am keeping all the important documents
in an order. As a result it's easy to find instantly if the client or any agency request for it. After a
phone conversation with clients, I send them a detailed email with our conversation and request
them to verify and confirm that. When they confirm the conversation I keep that with our records for
future references. It helps my company to be in compliance and my clients understand that I am
clear about their

Ten Publicized Audit Failures
AFM 201 – Part 1 Auditing
Fall 2007
Group Assignment 2
Publicized Cases of Alleged
Audit Failures
Involving Large Public Companies
1) Ten Publicized Audit Failures
i. Parmalat (2003) – Deloitte & Touche Tohmatsu /Grant Thornton
Misleading investors with "Brazen Fraud" was what the United States (US) Securities and Exchange
Commission (SEC) had sued Parmalat for in 2003. It all began when Parmalat defaulted on a bond
payment worth $185 million. This raised a flag for auditors and banks, which then began to closely
examine company accounts. According to Parmalat, 38% of their assets were apparently held in a
Bank of America account, part of a subsidiary of Parmalat in the Cayman Islands, worth $4.9 billion
dollars. This was later ... Show more content on Helpwriting.net ...
Income was overstated by $1 billion by the time investigations got moving. The SEC fined Arthur
Andersen part of the $229 million for shareholder settlement and $7 million for issuing artificial and
misleading reports.
vi. WorldCom (2002) – Arthur Andersen
Audited by Arthur Andersen, WorldCom went under investigation by the SEC for accounting fraud.
Not only was cash flows overstated by booking $3.8 billion in operating expenses as capital
expenses, $400 million was given to Bernard Ebbers, the CEO, in off–the–book loans. WorldCom
stunned Wall Street with additional improperly booked funds total to $3.4 billion bringing a total
restatement of $7.2 billion. WorldCom was prosecuted by DOJ, SEC, US Attorney's Office for the
Southern District of New York and various congressional committees.
vii. Enron (2001) – Arthur Andersen
Enron headed by Ken Lay, also audited by Arthur Andersen was charged by the DOJ, SEC and
various congressional committees. In this case, both the auditor and the company were charged.

Enron boosted profits and covered over $1 billion in debts by inappropriately using off–the–books
partnerships, while manipulating power markets and bribing foreign governments for contracts
abroad. In essence, Enron took advantage of lenient regulations to defraud consumers and investors.
While Enron was being charged with fraud, money laundering, securities

Diversity Management
Managing Diversity*
July 2009
Creating competitive advantage through cultural dexterity
Highlights Cultural dexterity is a business skill that enables effective collaboration and
communication among people across multiple dimensions of diversity. Collaboration within a group
of diverse people, who approach problems from different perspectives, improves corporate
performance. The environment a company creates can enable–or impede– the success of its
employees. Leaders are personally accountable for creating a culture in which all employees clearly
understand what success is and how to achieve it–and are actively encouraged to participate.
Facing continued economic uncertainty and concerned with the short–term demands of ... Show
Growth in the US working–age population in the next four decades will drop more than 60% from
that seen in the previous four.1 By mid–century, the population of Caucasians in the US, currently
about 70% of the total, will drop below 50%.2 In an increasingly tight–and diverse–labor market,
companies will need cultural dexterity to attract and retain talent. The creation of an inclusive
culture that encourages productivity, creativity, and loyalty among all employees does not happen
overnight; companies that begin today will be more competitive in tomorrow's market.
1. PricewaterhouseCoopers. 2008. American perspectives. New York: PricewaterhouseCoopers LLP.
2. US Census Bureau. 2008.
02
A basis for resilience
What is the likelihood that a woman will lead your organization in the next five years?† A. A woman
is currently CEO of my company. B. It is likely. C. It is unlikely.
A 5%
Navigating today's economy and anticipating tomorrow's opportunity require an expanded way of
thinking. In that context, the diversity of an organization's talent base may be its greatest asset. The
concept of diversity is commonly framed around the traditional lines of race, gender, sexual
orientation, and cultural and educational background. Those dimensions are critical in their own
right, but when properly managed, they create cognitive diversity. This presence of multiple ways of
thinking enables what futurist and Diversity Leadership Forum

Ethical Considerations
Ethical Considerations The United Nations has suggested numerous policies for companies to
implement to ensure the human rights of all people are upheld, especially with regards to minority
groups like women. The "Protect, Respect, and Remedy" Policy Framework can be utilized to
ensure gender equality in our organization. The policy framework includes:
"A policy statement articulating the company's commitment to respecting human rights and
providing guidance as to the specific actions to be taken to give this commitment meaning; Periodic
assessment of actual and potential human rights impacts of company activities and relationships;
Integration of these commitments into internal control and oversight systems; Tracking of
performance; Public ... Show more content on Helpwriting.net ...
The Center for American Progress has suggested a few changes companies can act upon to make a
difference in the workplace, including: raising the minumum wage, supporting fair scheduling
practices, supporting the end to pay transparancy, investing in affordable high quality early child
daycare or education, fixing the broken career pipeline, increasing paid sick days, and creating
additional paid family or medical leave insurance programs. The multifaceted solutions, when
implemented properly together, ensure that women in the workplace are valued and treated fairly.
However, the company must be willing to make difficult decision to achieve the ideal outcome
regardless of

Email Scandal at Pricewaterhousecoopers
Email Communication at PriceWaterHouseCoopers
.
Table of Contents
Page 3. Email scandal at PricewaterhouseCoopers
Page 4. Issues this event caused for PricewaterhouseCoopers
Page 9. Recommendations for PriceWaterhouseCoopers
Page 12. Bibliography
PricewaterhouseCoopers
Pricewaterhousecoopers (PwC) is one of the worlds biggest accountancy firms. It is a multi–award
winning business and it is the largest professional services provider here in Ireland, employing 1,900
staff within its seven locations (Dublin, Galway, Kilkenny, Limerick, Cork, Waterford and
Wexford).
PwC is a business that is known for its high technical competence and has an outstanding reputation
for professionalism. "First and foremost, PwC's ... Show more content on Helpwriting.net ...
Privacy: This issue began as an internal invasion of privacy but became a greater problem as the
email went "viral":
Susan McKay (chief executive of the National Women's Council), "the decision of some newspapers
and websites to publish the photographs was a further invasion of the women's privacy".
Many of the women involved were extremely upset as to the conduct of their colleagues.
Transparency and Accountability Demands: After an internal investigation into the events in
question it was discovered that the men responsible for the email scandal were of senior level in the
Assets Management division. PWC must now decide on what disciplinary action to take, if any.
Technological issues:
"Internet based electronic commerce applications constitute a significant departure from traditional
information technologies, posing more risks to the organization because of their extensive direct

electronic interaction with other entities" (De and Mathew, 1999). "In particular, an email system
introduces a new set of threats and legal issues to an organization and the dramatic increase in email
usage is commensurate with the rising number of workplace incidents and disputes" (Hancock,
1999; Attaran, 2000; PriceWaterhouseCoopers, 2002; Simmers, 2002; American Management
Association (AMA), 2003; Weber 2004).
Compliance: Policy and procedures would seem to

Big Four : The Big Six Essay
The Big Four are some of the largest firms that offer a variety of professional service's that range
from audits, tax, consulting, amongst other professional offerings. The Big Four didn't always start
that way; they started as the Big Eight which was comprised of Arthur Anderson, Arthur Young &
Co, Touche Ross, Price Waterhouse, Deloitte Haskins & Sells, Ernst & Whinney, Coopers &
Lybrand, and Peat Marwick Mitchell. These firms over the years had some much rivalry amongst
each other that two firms merged. So around the 1980's & 1990's the Big Eight became the Big Six
when Ernst & Whinney joined Arthur Young to establish Ernst & Young, and Touche Ross merged
with Deloitte Haskins & Sells to become Deloitte & Touche. Then in summer of 1988 there was
another merger of firms which gave birth to Price Waterhouse Coopers when Cooper & Lybrand
joined Price Waterhouse, which at this time they were all known as the Big Five. Last but not least
with the entire Enron scandal which Arthur Anderson were the auditors were found guilty of
document shredding they ended up being sold in bits and pieces to the other firms which are now
known by the Big Four. There are many highs and lows as to working for a Big Four Firm; I mean
who doesn't want to work for one of the big boys. When it comes to working for a Big Four their
selection process is a killer to get though. Now the best way to start off is to try and get an
internship. The Big Four are famous for rigorous interviews and even

The Securities Market Regulators Revealed Three Surprises...
The securities market regulators revealed three surprises during 2000 with varying degrees of
favorability for the standards developed by the IASC. First, the SEC examined these standards
carefully and questioned their forcefulness and worth (Zeff, 2012). Only a few months later a
committee of the IOSCO recommended that its members should accept financial statements
prepared using IASC standards for use by investors in their respective capital markets, however the
committee tempered their recommendation by sanctioning reconciliations between standards,
additional disclosures, or specifying the use of certain alternatives (Zeff, 2012). Finally by mid–
year, the EU mandated the adoption of IASC standards for all consolidated financial statements
issued in the EU by 2005 (Zeff, 2012).
Furthermore in May 2000, the IASC ratified a new constitution and restructuring plan to address
some of the issues that had detracted from their credibility since its inception, including its part–time
staff (Zeff, 2012). These events culminated the ownership of the IASC by the accounting profession
worldwide (Zeff, 2012). Similar surrenders by national groups of accounting professions had
occurred previously in the U.S. in 1973 when the APB turned standard setting over to the FASB and
in the U.K. in 1990 when the Accounting Standards Board succeeded to the Accounting Standards
Committee (Zeff, 2012). In April 2001, the first official meeting of the International Accounting
Standards Board

Ifrs Adoption in the Us
Adoption of IFRS in U.S. Companies – The Sooner, the Better
Introduction Source: http://us.kpmg.com/jnet/English/Archives/2009/Issue1/images/map_en.gif
IFRS Implementation Around the World (2008)
Over 120 countries around the world already permit or even require public companies to use the
new International Financial Accounting Standards IFRS. Among them are the EU, China, Russia,
and Brazil. Canada and Korea are expected to adopt IFRS by 2012; Mexico will require all listed
companies to adopt IFRS in 2012 (http://www.ifrs.com/ifrs_faqs.html#q1).
The U.S., despite a strong initial reluctance to adopt the new standards, are currently working
toward a convergence of U.S. GAAP and IFRS. The SEC recently approved 2015 as the earliest ...
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U.S. companies would have to adopt IFRS' way of valuing assets and liabilities just to remain
competitive without understating for example their total assets (http://www.aleablog.com/ifrs–vs–
us–gaap–european–banks–leverage–overstated–picture/).
Source: http://www.ifrs.com/updates/aicpa/Backgrounder_pdf.html
A set of internationally recognized accounting standards facilitates capital flows across borders.
Globally accepted standards make financial information readily comparable for its users. Foreign
investors are more inclined to put money into a U.S. company if they are familiar with the
company's financial reporting. Conversely, U.S. investors will find it easier and less risky to invest
in foreign companies when they know the local accounting standards (Epstein 2009). This will make
U.S. companies and capital markets more competitive, since it saves costly reconcilition of different
standards. Preparers, investors, auditors, and others will benefit from these cost effieciencies, since a
Results of an IFAC Survey among accounting leaders around the world with respect to the
importance of convergence to International Financial Reporting Standards for economic growth in
their countries: global standard allows them to operate in a single accounting environment
worldwide (PricewaterhouseCoopers 2007). The globally positive attitude towards an convergence
to IFRS is exemplified by an IFAC survey among

The Impact Of Ifrs On American Business
In 2014, a study from PricewaterhouseCoopers pointed that American investors are looking over–
seas' capital market for investment opportunities, and foreign investors are also looking for investing
opportunities in America. According to the research from PricewaterhouseCoopers in 2014, an
estimates shows that there are around seven trillion US dollars are invested in foreign stock markets,
and American markets are open to non–US firms too. Many of the foreign companies use IFRS rule
without any reconciliation to GAAP.
In the major international market, there are currently only four countries do not require IFRS rules,
and they are China, Japan, India, and the US. Pacter (2015) explained that presently there are one
hundred and forty ... Show more content on Helpwriting.net ...
Instead, in the over–seas markets, numerous countries require IFRS for the statutory financial
reporting. As the result, the multinational companies located in the US will need to have the IFRS
reports for their subsidiaries located in over–seas countries.
Pologeorgis (2012) stated that the diversity of accounting principle has an essential impact on the
stock markets, corporate management, and financial reporting. He pointed that when people seeking
for international capitals, varies of dissimilar accounting principles create discrepancies in their
financial reporting. If people cannot understand the differences between IFRS and GAAP, they may
have the chance to make the wrong decisions and loss money in the capital markets. Pologeorgis
(2012) also mentioned that international investors have to relearn the new principal in order to be
more familiar with the international standards. Based on above, there is a keen motivation for people
to understand the differences and similarities of GAAP and IFRS. This research will show business
people the main similarities and differences of GAAP and IFRS.
In revenue recognition:
In 2014, Sedki, Sedki, Strickland concluded that GAAP is complicated for people to use. It provides
more than two hundred industry specific rules for different firms to recognize revenue. Therefor
there is no effective regulation for people to use when they need to

The Impact Of Barclay 's On The United Kingdom
Barclay's has grown into one of the largest financial groups in the United Kingdom. The company
has diversified itself and is involved with banking, investment banking, and investment
management. They operate over 4750 branches in 50 countries in which 1600 are based in the
United Kingdom. The company has over 4.5 million registered online bankers and over 10.6 million
Barclaycard customers in the United Kingdom. Barclay's is currently the 7th largest bank in the
world with assets valuing $2.41 trillion.
Barclay's has an extensive history as one of the oldest banks in the world dating back to the late 17th
century. John Freame and Thomas Gould were goldsmiths working in Lombard Street, London.
Goldsmiths at the time lent out money to ... Show more content on Helpwriting.net ...
Libor, the London Interbank Lending Rate, is considered to be one of the most important rates in
finance because trillions of financial contracts utilize this rate. Libor is used globally as a base
interest rate in which it is used to set up a range of financial deals. It is also used as measure for
financial institutions to gauge their trust level in the financial system and to check each institutions
financial health. This rate is determined by a group of leading banks that submit the rates of ten
different currencies and fifteen lengths of loans, which range from overnight to twelve months. The
most important part is the "three–month dollar Libor", which is the rate that other banks would
borrow from each other for three months. Traders managed to manipulate this rate because the rates
submitted are estimates; it would be relatively easy to submit false figures. Traders at several banks
conspired to influence the Libor by getting colleagues to submit rates that were higher or lower than
their actual estimate.
Libor is an interest rate that is determined by the rates at which banks lend funds to each other on
the London interbank market. Every day the banks submit their borrowing costs to the Thomson
Reuters data collection service in which an agent calculates out Libor. The agent discards the highest
and lowest quarter of submissions and then averages out the remaining rates to calculate out Libor
for the day. Barclays manipulated this rate by submitting rates

Overstock's 2008 Financial Audit
Overstock is currently audited by the CPA Firm KPMG LLP and has been since 2009. According to
the proxy statement pursuant to schedule 14A KPMG's aggregate audit fees for 2012 and 2011 were
$1,037,000 and $1,092,000 respectively; all of which were approved by the audit committee. The
amounts of $40,000 in 2012 and 21,000 is 2011 were related to the audits for Overstocks 401k
benefit plan. Additionally, $88,000 in 2012 and $96,000 in 2011 were related to tax services, and
221,000 in 2012 were related to a cloud–based consulting project.
Previous to KPMG, Grant Thornton was Overstock's auditor for an Interim period from March 2009
to November 2009. Based on the information published in the 8K, Overstock dismissed Grant
Thornton due to a revision of a $785,000 asset that Grant Thornton wanted to amend in the
company's pervious 2009 quarterly filling and 2008 financial results. Overstock disagreed with
Grant Thornton's position, and unfortunately the timing of the situation could not have been worst
considering the SEC filing deadline were approaching. Surprisingly, Grant Thornton retaliated
Overstock's comments affirming that they never took position as to whether Overstocks 2008
financial statements should be reinstated, since they did not issue an audit opinion for the 2008
financial. Furthermore, Grant Thornton clarified that they were engaged to review, not to audit, the
company's interim financial statements which consists primarily of performing analytical procedures

The Company Of Price Waterhouse
Definition of Project: In this case study the company of Price Waterhouse Coopers reached out to
James Shaw and Amy Middleburg to assist with their partnership with AIESEC a talent management
company. This partnership brought to the table their own set of challenges within their organization.
The overall financial status within both companies is not where they should be and were in the midst
of government issues. Shaw and Middleburg both were in significant leadership roles prior to
joining Price Waterhouse. Upon joining Price Waterhouse they became a "staff number in a
database", as Shaw stated (Jick & Peiperl 2011, p. 463). The focus of work for Shaw and
Middleburg was to evaluate brand image of the company with PwC to determine ... Show more
content on Helpwriting.net ...
The current leadership staff along with other staff members will also have changed roles with this
implementation. Roles will be expanded and employees will be asked to do more. These changes
will have a long term effect on the organizations values which will help decrease any negative
impact to staff, clients and the organizations overall brand image. This will also decrease any impact
from regulators, nongovernmental organizations, and increasing the organizations effectiveness
operationally and financially (Jick & Peiperl, 2011). The team also felt their recommendations
would improve global market stability with successful implementation (Jick & Peiperl, 2011).
PwC's senior leadership continued to only focus on their financial results. This was another
challenge the team faced. The proposed changes were well received by leadership however; there
was no action taken. The team continued to drive their proposal to leadership emphasizing that the
implementation of their plan was essential as the organization moved forward (Jick & Peiperl 2011).
Leadership could not see the forest through the trees due to the unwillingness to listen to new ideas
from others. There was little leverage the team had within the organization that did not provide
much leverage as the executive team is the only ones to decide if action was actually taken or not
(Jick & Peiperl 2011). This is where AIESEC will help provide the

Texas State University Personal Statement
Currently I am a senior at Texas State University, earning a double major in accounting and
management. I have a distinguished background in my professional and academic career that has
prepared me for graduate studies. The University of Houston is the one and only school I plan to
pursue these endeavors.
Texas State has a recognized accounting program where I have accomplished many rigorous
courses. I am a member of the Texas State Honors College, where I have completed five honors
courses, earning a 4.0 GPA and completed an honors thesis paper, which is published in the
university's library. I am also actively involved in many school organizations, which I would
continue to do so at the University of Houston. Their program has challenged and prepared me to be
successful in not only my professional career, but also within my graduate studies at the University
of Houston.
During my undergraduate career, I have completed two audit and assurance ... Show more content
on Helpwriting.net ...
Based on the amazing faculty at the Bauer School of Business and the distinguished accounting
program, the University of Houston will further enhance my accounting knowledge. Additionally,
program benefits such as the oil & gas certification, renowned career fair, and specialized
accreditation has solidified my interests. Lastly, I am impressed with the school's pass rate of the
Certified Public Accountant exam, which is a significant pursuit of mine.
I have a great passion for accounting and learning, and through my hard work and dedication, I
would be a great fit for the University of Houston. My internship experiences, success in my
undergraduate career, and my character traits align with the University of Houston's graduate
program offerings. If given this opportunity, I will excel and make the University of Houston proud
of me as cougar and future

Fasb Case Study
VII. Reaction to Proposed Update In their comment letters to FASB, Ernst and Young gave their
support to FASB's attempt to develop a disclosure framework, but are worried the exposure draft
does not go far enough to implement change.41 Ernst and Young would like to see the FASB
evaluate disclosure requirements every five years for relevance or add a mechanism that will cause
requirements to "sunset [if not] reaffirmed."42 KPMG and Ernst and Young were critical of FASB
exclusion of employee benefit disclosures from the framework, while Deloitte & Touche and
PricewaterhouseCoopers believed that they can be excluded. EY and KPMG are concerned that the
exclusion of employee benefits will create confusion when new standards are issued.43 Deloitte

Ifrs: a Review of the Literature
Running head: IFRS IFRS: A Review of the Literature Intermediate Accounting III (10089) Abstract
Due to the global integration of business and finance throughout the world, approximately 113
countries have adopted or are working on convergence with IFRS. This paper is a look at the history
and an examination of where IFRS stands internationally and with the United States. For several
decades the industrialized world has been working toward an international set of accounting
standards. Since IFRS has become the de facto international accounting language, it is logical that it
will be accepted as that standard in the near future. IFRS: A Review of the Literature Over the past
35 years financial regulators worldwide have ... Show more content on Helpwriting.net ...
Adoption (whether of process or of content) means that IFRS are used instead of domestic financial
reporting rules. This might apply in certain countries for all companies or for some companies. It
might apply compulsorily by law or de facto. In contrast to adoption, convergence with IFRS is a
process, whereby domestic standards and IFRS are gradually brought into line. That is, part of the
convergence could be achieved by change to IFRS. Indeed, various different countries might be able
to contribute good answers to technical problems. However, extensive multilateral convergence is
problematic, because converging with one country could mean diverging from another. (pp. 281–82)
The following countries are at some stage of convergence or adoption: Asia China has not required
or permitted IFRS; however, they have somewhat converged with IFRS. Although several
differences remain between Chinese Accounting Standards and IFRS, there are plans in the future to
eliminate the differences. Japan also does not permit or require IFRS, but new rules are expected to
be issued that will allow IFRS for the year ending March 31, 2010. In Korea, IFRS is permitted with
the exception of financial intuitions and adoption of IFRS is required for all companies listed on
their local stock exchanges. India does not require or

Miners Essay
The Young Change Agents Introduction: Every organizational structures and practice has the role of
the change agent and it plays a significant part in organization. A case like 'The Young Change
Agents' focuses on the change leader and the bottom of the ladder. Following by that in this case
study James Shaw who joined AIESEC– world largest student–run international student exchange
and development organization and his main responsibilities were recruiting, training, motivating,
utilizing and retaining the organization's members. Therefore as a self directed and self motivated
person, Shaw kept himself engaged with the organization, and spent time on networking within the
firm and making suggestions where he felt ... Show more content on Helpwriting.net ...
Personal characteristics, attitudes, and qualities most needed to be successful: To be successful in
these situation personal characteristics, attitudes and qualities are most needed. Therefore, they
recruit Fabio Sgaragli, he had been the national president of AIESEC Italy and also had also worked
with Shaw at AIESEC international in Brussels, deeply talented and real visionary. However,
implement a whole new strategy adopted by the company, hard work and determination was a very
important role to be exercised by the members of the group. In addition, the members were also
required to be enthusiastic, creative and ambitious to achieve their goals. Considering different
parties involved to the new strategy networking was another important issue that could be
considered to make everyone understand the efficiency. According to Jick T.D and Peiperl M.A
(2003), each member of the group had good experience with strategic management for being
involved for long period in management in other organization, which helps the members to figure
out the necessity of a strategy to be considered based on the vision, objectives and goals of the
company. PwC is a very big company and it was beyond their thoughts before they actually got
selected to the company and it was very hard for the members to communicate with each others to
get help and authorization to implement the new strategy. Therefore, it is very important to have
good communication skill and

The Accounting And Reporting Standards
'US GAAP' is the term used to indicate the body of authoritative literature that comprises accounting
and reporting standards in the US. Rules and interpretative releases of the SEC under authority of
federal securities laws are also sources of authoritative GAAP for SEC registrants.
Authoritative US GAAP is primarily developed and maintained by the FASB and the Emerging
Issues Task Force.
Unlike IFRS, US GAAP is designed for use by both profit–oriented and not–for–profit entities, with
additional Codification topics that apply specifically to not–for–profit entities.
Like IFRS, any entity claiming compliance with US GAAP complies with all applicable sections of
the Codification, including disclosure requirements. However, unlike IFRS, a statement of explicit
and unreserved compliance with US GAAP is not required.
Unlike IFRS, the objective of financial statements is fair presentation in accordance with US
GAAP.Similarities and Differences of GAAP and IFRS
Haotian Guo
In 2014, a study from PricewaterhouseCoopers pointed that American investors are looking over–
seas' capital market for investment opportunities, and foreign investors are also looking for investing
opportunities in America. According to the research from PricewaterhouseCoopers in 2014, an
estimates shows that there are around seven trillion US dollars are invested in foreign stock markets,
and American markets are open to non–US firms too. Many of the foreign companies use IFRS rule
without

Presentation Of Pricewaterhousecoopers Audit Report
Minutes
The minutes of the June 19, 2015 meeting were approved.
Presentation of PriceWaterhouseCoopers Audit Report
Mr. Eric Schwartz of PriceWaterhouseCoopers (PwC) provided the Audit Committee with a
presentation of the audit of fiscal 2015 consolidated financial statements of Dartmouth Hitchcock–
Health and Subsidiaries.
PriceWaterhouseCoopers issued an unmodified opinion on the consolidated financial statements.
Areas identified for audit procedures for NLHA include entity level controls, revenue, long–term
debt, fixed assets, salaries and benefits and consideration of fraud.
Procedures to validate the existence and valuation of net patient service revenue included agreeing
charges to medical records, billing and related cash receipts. No exceptions were noted during
testing.
Fixed asset testing involved tracing of fiscal 2015 additions, recalculation of depreciation expense
and examination of new leases for proper classification as operating or capital leases. No exceptions
were noted.
PwC confirmed 100% of NLHA outstanding debt, tested 2015 debt repayments, and examined debt
covenant calculations for accuracy and did not identify any issues.
Procedures for salary and benefits traced data from human resources through to payroll expense for
employees selected for audit substantiation. No exceptions were noted.
Management override of controls and risk of fraud for revenue recognition were areas identified as a
significant risk for DH–H and all Affiliates.

Essay on Human Relations Perspective in Management
Katie Tolan Management Human Relations Perspective The human relations perspective is a way to
manage a corporation where the employees are viewed as social beings with complex needs and
desires as opposed to just units of production. It is based on the works of Abraham Maslow and
Douglas McGregor in the mid twentieth century. This perspective places an emphasis on the social
networks found in a corporation and uses gratification, not depravation, to provide motivation in the
workplace. The human relations perspective developed in the mid twentieth century and was an
extension of the behavioral viewpoint. Prior to the behavioral, almost all management was looked
upon through the classical viewpoint. This viewpoint specifically ... Show more content on
Helpwriting.net ...
The human relations perspective views the workplace as an intricate social network which a
manager must control though increased participation from employees and open communication.
Within this perspective employees are viewed as responsible, social, and self–motivated. These
views support Douglas McGregor's theory Y. Managers who follow theory Y believe employees
generally enjoy work, are often self–motivated to complete tasks efficiently and to the best of their
ability, and will actively seek responsibility. They also believe that people in general are smarter
than previously realized and can exercise high levels of creativity and ingenuity. (Heyel, C. (Ed.).
(1982). The Encycolpedia of Management . NY: Van Nostrand Reinhold Co.) McGregor compares
this to managers who follow the X theory, who believe employees avoid responsibility, have little
ambition, and are inherently lazy. They feel that people must be controlled and threatened in order to
work to their best ability and are primarily motivated by monetary rewards. This is the view that
managers held in previous perspectives. McGregor believed that a belief in a certain theory could
end up being a self – fulfilling prophecy, meaning that if a manager believes their employees will act
a certain way then they will. (Kinicki, A., & Williams, B. K. (2008). Chapter 2. In Management: A
practical Introduction (pp. 46–49). NYC: McGraw Hill.) Mangers in this perspective use less
micromanagement and move towards

History Of Pricewaterhousecoopers ( Better Known As Pwc )
Brief Introduction on the Organization
PricewaterhouseCoopers (better known as PwC) is a multinational professional services network
headquartered in London, United Kingdom. It is the second largest professional services firm in the
world, and is one of Big Four auditors, along with Deloitte, EY and KPMG. PwC is a network of
firms in 157 countries, 756 locations, with more than 208,100 people. As of 2015, 22% of the
workforce worked in Asia, 26% in North America and Caribbean and 32% in Western Europe.PwC
is organized into three primarily business lines i.e. Advisory, Assurance & Tax. [2]
Attached below image is the total revenue in millions as well as in % of PwC Switzerland in the
fiscal year 2014, It shows that the maximum revenue is from the Assurance or Auditing line of
service. However with advancement in technology and its risks, the Advisory line of service is also
starting to grow all over the world. [2] Image Reference :
http://www.slideshare.net/PwC_Switzerland/pwc–switzerland–all–about–us
Why PwC?
Have been closely associated with PwC since the past two years and have been working in the
Advisory line of service. PwC believes in the philosophy that their employees are the heart of the
business strategy and their success of the firm. For the firm every successful assignment is due to
the hard work and perseverance of its employees. Ongoing learning and teaching are integral to the
PwC culture. Also there is always oppturnities to grow in the firm and hence they

Ifrs for Smes
IFRS Income Tax Accounting
IFRS for SMEs: A less taxing standard?
On July 9, 2009, the IASB published the International Financial Reporting Standard for Small and
Medium–sized Entities ("IFRS for SMEs" or "the standard"), a self–contained standard of about 230
pages designed to ease the burden of IFRS reporting for entities that do not have public
accountability. Globally, more jurisdictions may be encouraged to replace existing local GAAP with
IFRS for SMEs. As a result, it holds important implications for US companies with multinational
subsidiaries. The United Kingdom Accounting Standards Board (UK ASB), for example, has
already issued a Consultation Paper asking for comments on its proposal to replace existing UK
GAAP with IFRS ... Show more content on Helpwriting.net ...
This exception is similar to the guidance in the Exposure Draft, which is similar to the US GAAP
approach. PwC Observation A close look at the guidance in the standard reveals that the wording
specifically refers to "unremitted earnings" from foreign entities. This differs from the current
guidance under US GAAP and the existing and proposed guidance under IFRS. Because unremitted
earnings are only one part of the outside basis difference, the results under IFRS for SMEs could
differ from other guidance. It is unclear whether this was an intended difference. Further,
respondents generally did not agree with the IASB's proposal to limit the exception to investments
in foreign entities. Many respondents believe there is no significant difference in complexity
between foreign and domestic subsidiaries, and suggest the exception should include both.
Intraperiod allocation
The standard generally requires companies to recognize tax expense in the same component of total
comprehensive income (i.e., continuing operations, discontinued operations, or other comprehensive
income) or equity as the transaction or other event that resulted in the tax. In other words, the
standard requires a backward–tracing approach, consistent with existing IFRS. US

Pricewaterhousecoopers Audit Report
The meeting was called to order at 2:00 pm by Mr. Cundey, Chair.
Audit Committee members attending: Chris Cundey, Dave Wyan, Mike Jesanis
Finance Committee members attending: Dave Marshall
Administration attending: Donald Griffin, Lisa Cohen, Kieran Kays
Guests: Eric Schwartz of PriceWaterhouseCoopers and Tina Naimie of Dartmouth Hitchcock
Minutes
The minutes of the June 19, 2015 meeting were approved.
Presentation of PriceWaterhouseCoopers Audit Report
Mr. Eric Schwartz of PriceWaterhouseCoopers (PwC) provided an Audit Committee presentation of
the audit of fiscal 2015 consolidated financial statements of Dartmouth Hitchcock–Health and
Subsidiaries.
PriceWaterhouseCoopers issued an unmodified opinion on the consolidated financial statements.
Areas identified for audit procedures for NLHA include entity levels controls, revenue, long–term
debt, fixed assets, salaries and benefits and consideration of fraud.
Procedures to validate the existence and valuation of net patient service revenue included agreeing
charges to medical records, billing and related cash receipts. No exceptions were noted during
testing.
Fixed asset testing involved procedures including tracing of fiscal 2015 additions, recalculation of
depreciation expense and examination of new leases for proper classification as operating or capital
leases. No exceptions were noted.
PwC confirmed 100% of NLHA outstanding debt, tested 2015 debt repayments, examined debt
covenants calculations

Strategic Analysis Of Glaxosmithkline 's Foreign Market...
This is a strategic analysis of GlaxoSmithKline that examines the key factors that influence the
company and its activities. The strategic analysis will examine key factors in the company's internal
and external environment and their influence on the company's strategies. GlaxoSmithKline is a
global healthcare company that offers pharmaceutical, vaccines and consumer products. The
company is a product of various mergers, the latest occurring in 2001 between GlaxoWellcome and
SmithKline Beecham. The company started in London United Kingdom in 1715 as Plough Court
pharmacy and has evolved to become one of the leading global healthcare companies. The
healthcare company operates in more than 150 countries with 89 manufacturing locations and
research centers in the USA, China, UK and Belgium. In 2015, the company's sales grew to £23.9
billion from £23.0 billion in 2014 (GlaxoSmithKline plc. 2015).
There are various factors that play a critical role in GlaxoSmithKline's foreign market expansion and
international operations. These factors are based on the SWOT analysis in appendix 1. A SWOT
analysis, also known as situational analysis, is a strategic analysis tool that evaluates the position of
a firm by identifying strengths, weaknesses, opportunities and threats. According to Daniels,
Radebaugh and Sullivan (2014,) SWOT analysis forms the basis of strategic planning when firms
engage in international operations. A good strategy is one that focuses more on exploiting strengths

The Rule Of Generally Accepted Auditing Standards

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