Behavioral Decision Analysis And Intervention Design Essay

We often, in our daily life, experienced a considerable number of social, political, and economic events in which our existing mental models are frequently updated through learning to adapt with changing scenarios and environments. Perhaps, we have intrinsic mechanism to adapt with all these events. As these issues are in common in our everyday life and fosters few questions: Why people donate money to raise funds for the public goods, e.g., public park and services when they don’t have to do so? Or, what derives individual’s decision to engage in a pro-environmental behavior? More specifically, what types of behavioral interventions are effective in habit formation? Or, how individual form their personal and social trust based on perceived risks in conflict management. The issue of learned behavior (Pavlov and Anrep, 2003) is a central one in phycology, specifically in behavioral decision analysis and intervention design. In economics, most of the theories are mostly related to behavioral decision theory. In resource and environmental management, most of the theories dominated by Norm-Activation theory (Schwartz, 1977), planned behavior (Ajzen, 1991), or value-belief-norm theory (Stern et al., 1999), and infrequently learning and updating in explaining individuals learned behavioral strategy. Since the recent frameworks are mostly static in nature, explaining individual’s learned behavior under changing environment is not conveniently identifiable. I, to simplify this,Show MoreRelatedInterview with an Information System Analyst679 Words   |  3 Pagesinformation that is practical as well as being timely and accurate to support decision-making about discipline systems. Informaiton is collected by school personnel relating to events of discipline in their school and the information is entered into the system. The system is web-based, protected software. Question: What are the benefits of this system? Answer: The system provides summaries of of this information for using in the design of behavior support that is effective for individual students as wellRead MoreAn M-Health Application for Adolescents with Type 1 Diabetes1181 Words   |  5 Pageseffective self-care of type 1 diabetes mellitus, adolescents with diabetes require decision-support aids to effectively analyze a blood glucose result and take appropriate action to optimize glycemic control (Hood, Peterson, Rohan, Drotar, 2009). Therefore, mobile technology-based intervention can be effectively implemented to help in this case. For this application, a user-centered design attitude was useful during the design phase of the product, leveraging a base remote patient monitoring system. TheRead MoreEmotional Therapy1403 Words   |  6 Pagesthat means for their child’s life. With a growing prevalence rate of ASD, many parents face the similar struggle in determining what type of treatment will provide the best outcomes for their child. Two popular treatment choices are applied behavioral analysis (ABA) and skills training. According to the National Institute of Mental Health (2017), ASD is a group of developmental disorders that impacts 1 in 68 children and includes â€Å"a spectrum† of symptoms, skills, and levels of disability. IndividualsRead MoreThe Behavior Analyst Certification Board, Inc.994 Words   |  4 Pagesanalyst (a) designs programs that are based on behavior analytic principles, including assessments of effects of other intervention methods, (b) involves the client or the client-surrogate in the planning of such programs, (c) obtains the consent of the client, and (d) respects the right of the client to terminate services at any time.† Within guideline four, Least Restrictive Procedures 4.10 dictates, â€Å"The behavior analyst reviews and appraises the restrictiveness of alternative interventions and alwaysRead MoreThe Application Of Mobile Technologies For Public Health1704 Words   |  7 Pagespersonal confidence that the threat will be averted. The application of mobile technologies to health behavior interventions is rapidly growing and existing health behavior theories and models have served for many years as guide to eHealth researches, intervention development and delivery (Riley et al. 2011).Thus, the framework used to inform this study and its subsequent intervention is similar to models used in other successful eHealth researches. Since this study aims to educate and motivateRead MoreSsrd Example Paper1472 Words   |  6 PagesRESEARCH DESIGN Single Subject Research Design Abstract The following paper presents the use of an ABA single subject research design in evaluating a 16 year old foster youth’s behavior, and the use of an intervention on decreasing negative behavior and increasing positive behavior. Use of the ABA design, factors to be evaluated, treatment variables, implementation of the research design, data gathering, and data analysis are all discussed. Limitations of single subject research designs are alsoRead MoreWhy Learning Theories Are Relative And How They Affect Behavior Essay1647 Words   |  7 Pagesregards to knowing how they learn and behave under a variety of situations. While it’s likely that change in a person’s learning abilities and behaviors will occur throughout their career, the change will be more positive if the proper learning and behavioral techniques are applied. Therefore it helps to understand why learning theories are relative and how they can be used to change behavior. Learning Defined Learning can be defined as a process by which our behavior, knowledge, skills, abilities andRead MorePhysical Based Programs As Interventions For At Risk Youth Essay1717 Words   |  7 PagesLubans, Plotinikoff and Lubans (2012) conducted a systemic review of physical based programs as interventions for at-risk youth. Significant increases in social emotional wellbeing were identified for outdoor adventure programs, sport and skill based programs, and physical fitness programs. However, the researchers report that the risk of bias in the existing studies is high. None of the studies reported power calculations to detect the hypothesized effect. Additionally, few of the studies reportedRead MoreChild Adolescent Population And Developmentally Impaired Persons Essay1747 Words   |  7 Pagesof assault and injury for both. Both reviews focus on incidences of seclusion and restraints and ways to reduce usage. The articles aim to answer what the current state of evidence is supporting r estraints and reduction methods. Nonetheless, interventions are needed to reduce restriction and restraint utilization in children and persons with developmental disabilities (Menon, Raghavendra, Bernard 2010) Phenomenon of Interest The article Initiatives to reduce the use of seclusion and restraintsRead MoreApplied Behavioral Analysis Essay1320 Words   |  6 PagesUnit 6 – Case Study Applied Behavioral Analysis II – PS365-01 Kaplan University August 13, 2012 Behavior modification is field within psychology that specializes in identifying relationships between a specific behavior and environmental events as well as creating and instituting procedures that help individuals to change a particular behavior. When behavior analysts conduct research they use research designs that help them to identify whether a change in the targeted behavior or dependent

Globalization in Argentina Essay - 1323 Words

Globalization in Argentina has affected the country in numerous ways. There are many positives and negatives. Until 1999 globalization seemed to be the reason the country was so prosperous. Pope John Paul II stated, â€Å"From the ethical point of view, can be positive or negative. In fact, there is an economic globalization which brings some positive consequences, as the phenomenon of efficiency and increased production and, with the development of relations between countries in economic, can strengthen the process of unity among peoples and make a better service to the human family. However, if globalization is ruled merely by the laws of the market applied to suit the powerful, leads to negative consequences. Such, for example, the†¦show more content†¦The reforms caused a period of success followed by worse conditions. These policies made the rich get richer and the poor get poorer. Towards the end of the 1990s the country experienced rising unemployment and decreasing wages. The privatization of industries in addition to the international debt and government corruption led to many citizens distrusting the government and failure to pay taxes thus keeping the problems still at large. Unfortunately, the fragile Argentine economic infrastructure, while seemingly strong, was not able to withstand the downturn in the world economy after the severe correction of the both the Dow Jones Industrial Average and NASDAQ stock markets in the United States in March 2000 and the terror attacks of September 11, 2001. The widespread economic failure caused the Argentine peso to become devalued and this caused extreme inflation in prices. In June of 2002 the peso was valued at just $0.26 of a U.S. dollar. The unemployment rates skyrocketed as well hitting over 25% in most parts of the country and the poverty rate increased from 30% in 1999 to over 50% in 2002. The benefits of globalization in Argentina were short-lived but still vital in the countries development. The benefits of globalization in Argentina at the time were economic growth, prosperity and increased productivity during the 1990s. ArgentinaShow MoreRelatedLatin American Culture Essay examples1050 Words   |  5 PagesLatin American Culture Latin America represents 1/10 of the worlds population, and geographically can be located from the land extensions of Mexico, until the Patagonia at Argentina. Some of the most relevant elements of todays culture in Latin America are; Religion, Values, Attitudes, Social structure, Social stratification, Language and Gift-giving hospitality. The predominant religion throughout history in Latin America has been Catholicism. From big cities to small villages, churches, basilicasRead MoreTo most of us, globalization—as a political, economic, social, and technological force—appears all1700 Words   |  7 PagesTo most of us, globalization—as a political, economic, social, and technological force—appears all but unstoppable. The ever-faster flow of information across the globe has made people aware of the tastes, preferences, and lifestyles of citizens in other countries. Through this information flow, we are all becoming—at varying speeds and at least i n economic terms—global citizens. This convergence is controversial, even offensive, to some who consider globalization a threat to their identity and wayRead MoreGlobalization Is Not a Substitute for Development1122 Words   |  5 PagesCountries, that have achieved higher economic growth throughout the years, have achieved this, not by following the dictates of the Washington Consensus exactly, but rather by applying them in an unorthodox fashion. Nevertheless in recent years globalization has become a replacement for a sound development strategy. In his article Trading in Illusions, Dani Rodrik (2001) argues against the line of thinking promoted by these international organizations and proposes that development programs should beRead MoreEssay on Brazil: Embracing Globalization?1519 Words   |  7 PagesBRAZIL: EMBRACING GLOBALIZATION? Background This case focuses on Brazils development strategy since World War II and on the change of the economic model following the debt crisis of the 1980s. At the time of the case Brazilian officials are deciding whether regional integration or globalization offer the best route to economic prosperity and development. This case illustrates the challenges that developing countries face in defining trade policy. It also introduces the role of regional tradeRead MoreArgentina Essay727 Words   |  3 PagesArgentina is very close to my heart because it is where half of my family was born. That is why I have chose it to research. The IMF(International Monetary Fund) and world bank have invested in Argentina. There has been a lot of ups and downs. More downs than ups. The IMF started supporting Argentina in late 2000 and early 2001. This was while Argentina was having some major problems with their economy and hyperinflation. Also diminishing access to capital markets(2003, July). This left themRead MoreBrazil : Embracing Globalization1343 Words   |  6 PagesBrazil : embracing globalization This case is about Brazils development strategy since World War II and about the change of the economic model following the debt crisis of the 1980s. In 2000, Brazilian officials were pondering whether to go for regional integration (Mercosur) or globalization to ensure the countrys economic prosperity and development. 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Bolivians, however, must overcome their incredulous outlook toward the concept of globalization in order to achieve success. Their execution strategy must embrace the concept of political-economic, social-environmental, and scientific-technological interdependence among multinational organizations in order to achieve their pursuit for economicRead MoreGlobalization of Wal-Mart1177 Words   |  5 PagesDerek Moore 9/13/12 GEB3356, Omanwa Minicase: â€Å"The globalization of Walmart† As the world’s largest retail store in the world, Walmart wants to be in every market that they can be prosperous in. They know they rule the United States market, so why not try to expand overseas and dominate those markets as well. Now that they have reached limits on expansion here in the U.S., the next step was to test the water in other nations. As they began to go international, there were many critics saying theyRead MoreA Short Note On Constructivism And International Institutions920 Words   |  4 PagesConstructivism and International Institutions As technology leapt forward, facilitating and promoting the rapid spread of both goods and ideas throughout the world, the twentieth century saw the beginnings of true globalization and with it the birth of many international institutions. From organizations and documented agreements to global norms for state interaction, these institutions have changed the face of global politics and drawn analysis from all over the theoretical spectrum. Liberal theorists

What if everyone was smart Free Essays

What if the world we lived in was perfect? As long as I live doubt the world we live would get perfect. Things that would make up is if everyone was wealthy, they had perfect knowledge, and if they have the same style. If everyone was wealthy the following would happen. We will write a custom essay sample on What if everyone was smart? or any similar topic only for you Order Now Good things about being everyone being wealthy would be know one would be homeless and could live comfortably and not have to worry about bills or gas money. Everyone can afford anything they want. It would be easy for everyone to purport there families no matter how large. The bad things about everyone being wealthy would be criminals could spend money on things that would mess up the world. There would be too much trash for the earth to even contain. Also there would be know point to people even working since everyone’s rich. If everyone were rich it would be both good and bad for the world. There would basically be no point of there even being school. If everyone was smart this would happen. The good things are rodents made by companies would have no error to it and would always work correctly. Another good thing would be. Know one would be confused about anything so there would be know need to look things up at the library or on the web. Also having perfect knowledge would help anyone in life or death situations. The bad things about everyone being smart would be this. Criminal would be as smart as police officers. Knowing everyone would make everything seem pointless. There would be no point in learning things. There are many dumb people in the world we live in now. But if the everyone was smart the would be a much better place to live in. Have you ever said to yourself what if everyone had the same style? If they did know would make fun of the way you dress. Everyone would compliment you on what you wear. You would also be able to fit in with your friends easily. The bad things about this people will eventually get tired of seeing people wear the same thing. You will continue to have a conversation about the same topic over and over again. Every,Inhere you everyone around you would act and dress similar which can get weird fast. A perfect world have people with same style. However it would be weird seeing someone dress and act like you. A perfect world would be one with everyone being wealthy, smart, and having the same style. Imagine waking up in a 15 bedroom mansion and enough money to feed 15 countries. How bout being able to know everything thing there is to know about life. Last but not least what if know one made fun of you because everyone has the same style. Doesn’t living in a perfect world sound great. The problem is know one would know how it is to live in one. How to cite What if everyone was smart?, Papers

Auditing Chapter 2 free essay sample

Chapter 2 The CPA Profession 2-1The four major services that CPAs provide are: 1. Audit and assurance services Assurance services are independent professional services that improve the quality of information for decision makers. Assurance services include attestation services, which are any services in which the CPA firm issues a report that expresses a conclusion about the reliability of an assertion that is the responsibility of another party. The four categories of attestation services are audits of historical financial statements, attestation on the effectiveness of internal control over financial reporting, reviews of historical financial statements, and other attestation services. 2. Accounting and bookkeeping services Accounting services involve preparing the clients financial statements from the clients records. Bookkeeping services include the preparation of the clients journals and ledgers as well as financial statements. 3. Tax services Tax services include preparation of corporate, individual, and estate returns as well as tax planning assistance. . Management consulting services These services range from suggestions to improve the clients accounting system to computer installations. 2-2The major characteristics of CPA firms that permit them to fulfill their social function competently and independently are: 1. Organizational form A CPA firm exists as a separate entity to avoid an employer-employee relationship with its clients. The CPA firm employs a professional staff of sufficient size to prevent one client from constituting a significant portion of total income and thereby endangering the firms independence. 2. Conduct A CPA firm employs a professional staff of sufficient size to provide a broad range of expertise, continuing education, and promotion of a professional independent attitude and competence. 3. Peer review This practice evaluates the performance of CPA firms in an attempt to keep competence high. 2-3The Public Company Accounting Oversight Board provides oversight for auditors of public companies, including establishing auditing and quality control standards for public company audits, and performing inspections of the quality controls at audit firms performing those audits. -4The purpose of the Securities and Exchange Commission is to assist in providing investors with reliable information upon which to make investment decisions. Since most reasonably large CPA firms have clients that must file reports with the SEC each year (all companies filing registration statements under the securities acts of l933 and l934 must file audited financial statements and other reports with the S EC at least once each year), the profession is highly involved with the SEC requirements. The SEC has considerable influence in setting generally accepted accounting principles and disclosure requirements for financial statements because of its authority for specifying reporting requirements considered necessary for fair disclosure to investors. In addition, the SEC has power to establish rules for any CPA associated with audited financial statements submitted to the Commission. 2-5The AICPA is the organization that sets professional requirements for CPAs. The AICPA also conducts research and publishes materials on many different subjects related to accounting, auditing, management advisory services, and taxes. The organization also prepares and grades the CPA examinations, provides continuing education to its members, and develops specialty designations to help market and assure the quality of services in specialized practice areas. 2-6Statements on Standards for Attestation Engagements provide a framework for attest engagements, including detailed standards for specific types of attestation engagements. -7The PCAOB has responsibility for establishing auditing standards for public companies, while the Auditing Standards Board (ASB) of the AICPA establishes auditing standards for private companies. The ASB previously had responsibility for establishing auditing standards for both public and private companies. Existing auditing standards were adopted by the PCAOB as interim auditing standards for public company audits. 2-8Generally acce pted auditing standards are ten general guidelines to aid auditors in fulfilling their professional responsibilities. These guidelines include three general standards concerned with competence, independence, and due professional care; three standards of field work including planning and supervision, understanding the entity and its environment, including its internal control, and the gathering of sufficient appropriate evidence; and four standards of reporting, which require a statement as to presentation in accordance with generally accepted accounting principles, inconsistency observed in the current period in relation to the preceding period, adequate disclosure, and the expression of an opinion as to the fairness of the presentation of the financial statements. Generally accepted accounting principles are specific rules for accounting for transactions occurring in a business enterprise. Examples may be any of the opinions of the FASB. 2-9Auditors can obtain adequate technical training and proficiency through formal education in auditing and accounting, adequate practical experience, and continuing professional education. Auditors can demonstrate their proficiency by becoming licensed to practice as CPAs, which requires successful completion of the Uniform CPA Examination. The specific requirements for licensure vary from state to state. 2-10For the most part, generally accepted auditing standards are general rather than specific. Many practitioners along with critics of the profession believe the standards should provide more clearly defined guidelines as an aid in determining the extent of evidence to be accumulated. This would eliminate some of the difficult audit decisions and provide a source of defense if the CPA is charged with conducting an inadequate audit. On the other hand, highly specific requirements could turn auditing into mechanical evidence gathering, void of professional judgment. From the point of view of both the profession and the users of auditing services, there is probably a greater harm from defining authoritative guidelines too specifically than too broadly. -11International Standards on Auditing (ISAs) are issued by the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC). ISAs are designed to improve the uniformity of auditing practices and related services throughout the world by issuing pronouncements on a variety of au dit and attest functions and promoting their acceptance worldwide. A CPA who conducts an audit in accordance with GAAS may not comply with ISAs because there may be additional ISA requirements that extend beyond GAAS requirements. 2-12Quality controls are the procedures used by a CPA firm that help it meet its professional responsibilities to clients. Quality controls are therefore established for the entire CPA firm as opposed to individual engagements. 2-13The element of quality control is personnel management. The purpose of the requirement is to help assure CPA firms that all new personnel are qualified to perform their work competently. A CPA firm must have competent employees conducting the audits if quality audits are to occur. 2-14A peer review is a review, by CPAs, of a CPA firms compliance with its quality control system. A mandatory peer review means that such a review is required periodically. AICPA member firms are required to have a peer review every three years. Registered firms with the PCAOB are subject to quality inspections. These are different than peer reviews because they are performed by independent inspection teams rather than another CPA firm. Peer reviews can be beneficial to the profession and to individual firms. By helping firms meet quality control standards, the profession gains if reviews result in practitioners doing higher quality audits. A firm having a peer review can also gain if it improves the firms practices and thereby enhances its reputation and effectiveness, and reduces the likelihood of lawsuits. Of course peer reviews are costly. There is always a trade-off between cost and benefits. 2-15Firms may belong to Center for Audit Quality and the Private Companies Practice Section (PCPS) Firm Practice Center. The mission of the Center for Audit Quality is to foster confidence in the audit process and to aid investors and the capital markets by advancing constructive suggestions for change rooted in the profession’s core values of integrity, objectivity, honesty and trust. The PCPS Firm Practice Center provides practice management resources for firms of all sizes. In addition to these resource centers, the AICPA also provides the Governmental Audit Quality Center and Employee Benefit Plan Audit Quality Center to provide resources for performing quality audits in these unique and complex audit areas. 2-16a. (1)b. (2)c. (3)d. (3) 2-17a. (2)b. (1)c. (2)d. (3) 2-18a. The comments summarize the beliefs of many practitioners about the Sarbanes–Oxley Act and the PCAOB. The arguments against the Act can be summarized as four arguments: 1. Costs of complying with the Act are excessively high, especially the requirement to report on internal control over financial reporting, and will discourage companies from becoming public companies. 2. Relative cost for local audit firms is excessively high. 3. Additional oversight is not needed because sufficient quality controls have already been implemented by most audit firms. 4. Three other things already provide assurance of adequate quality: a competitive economic environment, legal liability, and auditing standards. To support these comments, it can be argued that the profession has generally functioned well with relatively little controversy and criticism. The arguments against these comments are primarily as follows: 1. Reporting on the effectiveness of internal control over financial reporting will provide benefits in improved controls, resulting in higher quality financial reporting and reduced losses from fraud. 2. The increased confidence in financial reporting will increase access to capital and lower the cost of capital by reducing information risk. 2-18 (continued) 3. Changes in the scope of CPA practices and other threats to audit quality required government regulation. 4. Regulation of public company audits will not affect most audit firms that do not have public company audit clients. b. There is no correct answer to this question. Different people reach different conclusions, depending on the weights put on the various arguments. Time is needed to effectively assess both the costs and benefits of the Act. 2-19a. Engagement performance . Human resources c. Engagement performance d. Engagement performance e. Relevant ethical requirements f. Monitoring g. Acceptance and continuation of clien ts and engagements h. Human resources i. Human resources j. Leadership responsibilities 2-20a. Rossi and Montgomerys primary ethical consideration is their professional competence to perform all of the audit work for filing with the SEC. In addition, if Rossi and Montgomery have performed bookkeeping services or certain consulting services for Mobile Home, they will not be independent under PCAOB and SEC independence requirements. The firm must also be a registered firm with the PCAOB. b. The filing with the SEC, in addition to normal audited financial statements, will require completion and registration with the SEC of Form S-1 which includes an audited summary of operations for the last five fiscal years as well as many additional schedules and descriptions of the business. Each quarter subsequent to the filing, Form 10-Q must be filed; and within 90 days of the end of each fiscal year Form 10-K must be filed with the SEC. In addition, Form 8-K must be filed whenever significant events have occurred which are of interest to public investors. These forms must be filed in conformity with Regulation S-X, which requires considerable disclosures in addition to those normally required in audited financial statements. 2-21 BRIEF DESCRIPTION OF GAAS |HOLMES ACTIONS RESULTING IN FAILURE TO COMPLY WITH GAAS | |GENERAL STANDARDS | | |The auditor must have adequate technical training and |It was inappropriate for Holmes to hire the two students to conduct | |proficiency to per form the audit. |the audit. The audit must be conducted by persons with proper | | |education and experience in the field of auditing. Although a junior | | |assistant has not completed his formal education, he may help in the | | |conduct of the audit as long as there is proper supervision and | | |review. |The auditor must maintain independence in mental attitude|To satisfy the second general standard, Holmes must be without bias | |in all matters relating to the audit. |with respect to the client under audit. Holmes has an obligation for | | |fairness to the owners, management, and creditors who may rely on the | | |report. Because of the financial interest in whether the bank loan is | | |granted to Ray, Holmes is independent in neither fact nor appearance | | |with respect to the assignment undertaken. |The auditor must exercise due professional care in the |This standard requires Holmes to perform the audit with due care, | |performance of the audit and the preparation of the |which imposes on Holmes and everyone in Holmes organization a | |report. |responsibility to observe the standards of field work and reporting. | | |Exercise of due care requires critical review at every level of | | |supervision of the work done and the judgments exercised by those | | |assisting in the audit. Holmes did not review the work or the | | |judgments of the assistants and clearly failed to adhere to this | | |standard. | 2-21 (continued) |BRIEF DESCRIPTION OF GAAS |HOLMES ACTIONS RESULTING IN FAILURE TO COMPLY WITH GAAS | |STANDARDS OF FIELD WORK | | |The auditor must adequately plan the work and must |This standard recognizes that early appointment of the auditor has | |properly supervise any assistants. advantages for the auditor and the client. Holmes accepted the | | |engagement without considering the availability of competent staff. In| | |addition, Holmes failed to supervise the assistants. The work | | |performed was not adequately planned. | |The auditor must obtain a sufficient understanding of the|Holmes did not obtain an understanding of the entity or its internal | |entity and its environment, including its internal |control, nor did the assistants obtain such an understanding. There | |control, to assess the risk of material misstatement of |appears to have been no audit at all. The work performed was more an | |the financial statements whether due to error or fraud, |accounting service than it was an auditing service. | |and to design the nature, timing, and extent of further | | |audit procedures. | | |The auditor must obtain sufficient appropriate audit |Holmes acquired no evidence that would support the financial | |evidence by performing audit procedures to afford a |statements. Holmes merely checked the mathematical accuracy of the | |reasonable basis for an opinion regarding the financial |records and summarized the accounts. Standard audit procedures and | |statements under audit. |techniques were not performed. | |STANDARDS OF REPORTING | | |The auditor must state in the auditor’s report whether |Holmes report made no reference to generally accepted accounting | |the financial statements are presented in accordance with|principles. Because Holmes did not conduct a proper audit, the report | |generally accepted accounting principles (GAAP). should state that no opinion can be expressed as to the fair | | |presentation of the financial statements in accordance with generally | | |accepted accounting principles. | 2-21 (continued) |BRIEF DESCRIPTION OF GAAS |HOLMES ACTIONS RESULTING IN FAILURE TO COMPLY WITH GAAS | |The auditor must identify in the auditor’s report those |Holmes improper audit would not enable him to determine whether | |circ umstances in which such principles have not been |generally accepted accounting principles were consistently applied. |consistently observed in the current period in relation |Holmes report should make no reference to the consistent application | |to the preceding period. |of accounting principles. | |When the auditor determines that informative disclosures |Management is primarily responsible for adequate disclosures in the | |are not reasonably adequate, the auditor must so state in|financial statements, but when the statements do not contain adequate | |the auditor’s report. |disclosures the auditor should make such disclosures in the auditors | | |report. In this case both the statements and the auditors report lack| | |adequate disclosures. |The auditor must either express an opinion regarding the |Although the Holmes report contains an expression of opinion, such | |financial statements, taken as a whole, or state that an |opinion is not based on the results of a proper audit. Holmes should | |opinion cannot be expressed, in the auditor’s report. |disclaim an opinion because he failed to conduct an audit in | |When the auditor cannot express an overall opinion, the |accordance with generally accepted auditing standards. | |auditor should state the reasons therefor in the | | |auditor’s report. In all cases where an auditors name is| | |associated with financial statements, the auditor should | | |clearly indicate the character of the auditors work, if | | |any, and the degree of responsibility the auditor is | | |taking, in the auditor’s report. | | 2-22a. International auditing standards. b. PCAOB auditing standards. c. PCAOB auditing standards (reporting in the U. K. will be under international auditing standards). d. Generally accepted auditing standards. e. International auditing standards. f. PCAOB auditing standards (due to the publicly-traded debt). 2-1International Standards on Auditing (ISAs) are issued by the International Auditing and Assurance Standards Board (IAASB (http://www. ifac. org/IAASB/). Visit the IAASB’s website to answer the following questions: 1. What is the primary objective of the IAASB? Answer: The objective of the IAASB is to serve the public interest by setting high-quality auditing and assurance standards and by facilitating the convergence of international and national standards, thereby enhancing the quality and uniformity of practice throughout the world and strengthening public confidence in the global auditing and assurance profession. International Standards on Auditing (ISA) are used by auditors in countries that have adopted ISAs as their auditing standards. 2. What is the IAASB’s due process that it follows when setting standards? Answer: The IAASB follows a due process in setting standards. The standards-setting Public Interest Activity Committees (PIAC) identify new projects based on review of international developments and consultation with the Public Interest Oversight Board. †¢ The project may be assigned to a task force, which considers whether to hold a public forum or roundtable. †¢ Dra ft pronouncements are exposed for a minimum of 90 days. †¢ The task force considers all comments and whether re-exposure is needed. †¢ The PIAC votes on the approval or withdrawal of the pronouncement. Affirmative vote of at least two-thirds of the members, but not less than 12, is required to approve an exposure draft. Internet Problem 2-1 (continued) 3. The IAASB is committed to transparency. How does the IAASB make public information related to standards setting activities? Answer: The IAASB is committed to transparency. Where practicable, meetings are broadcast over the Internet or recorded. Meeting agendas and minutes are published on the International Federation of Accountants (IFAC) website. All exposure drafts are subject to public exposure for a minimum of 90 days. (Note: Internet problems address current issues using Internet sources. Because Internet sites are subject to change, Internet problems and solutions may change. Current information on Internet problems is available at www. pearsonhighered. com/arens).