Auditing Essay Example | Topics and Well Written Essays - 1250 words - 5

Auditing - Essay Example Fraud refers to intentional miscalculations in the financial records. An unqualified opinion concludes that the financial reports are of true and fair view of the actual state of the ground. Audit risk is made up of inherent, control and detection risks. Inherent risk is more likely to occur where transactions are of a complex nature or in situations where financial estimates are through judgment. This type of risk is the worst case as all controls have failed. Control risk is the probability of a material misstatement occurs in management assertion about a group of transactions or accounts. The risk of detection entails the severity and the procedures carried out by the auditor will not detect material errors that have occurred in the accounting records. Since the financial statement cannot be as a whole, the auditor has to identify areas of heightened financial risks (Earley and Phillips, 2008). Cash and cash equivalents form a heightened area of risk. Cash at hand can easily be lost in fraud related activities as it is a liquid asset. The material misstatement of cash and cash equivalent increases the amount of assets in the company that would hinder the auditor from giving the actual state of the company. The amount of cash balance is â‚ ¬ 15.2m a decrease from the previous year’s balance of â‚ ¬ 20.5m. The auditor should use analytical tests to determine whether the expenditures attributed to cash are true. Some compliance tests include: the comparison of previous years balances and significant changes in amounts and deviations from the trends. Accounts opened and closed throughout the year should be investigated. Computations of quick current ratio should be taken and compared to other previous years. Lack of consistency in these ratios may indicate a material misstatement in the cash and cash equivalent account

Organ Trafficking Solution Research Paper Example | Topics and Well Written Essays - 750 words

Organ Trafficking Solution - Research Paper Example India has been cited as one of the countries with the highest number of organ traffickers among other countries such as Philippines, Pakistan, Egypt and China. According to Shimazono (2007), organ transplantation is a therapy that is practiced on persons with dysfunctional organs and is practiced internationally. He notes that nations are illegalizing organ donations, and yet illegal organ trafficking still exists. Thus, he recommends that vulnerable individuals should be protected by these nations as a form of curbing and controlling this illegal activity. Among the main organ exporters, India contributes much to the illegal trade since many of the organ traffickers sell these organs to foreigners in the country (Shimazono, 2007). Organ transplant according to Shimazono has serious effects and consequences on the lives of the affected individuals. Regrets, discrimination, and depression, are some of the effects of organ trafficking causes on the victims. MOHAN, which is an Indian non-government group, supports the legal donation of organs in India and thus demonizes organ trafficking as an inhuman and illegal business. Many economic and social challenges force Indian young men to engage, in these dubious businesses, to sustain themselves. An urgency to control and curb the illegal business is needed in India and the government, researchers and Indian policy workers are working so hard to erad icate the practice. This essay aims at offering the solution to the problem of organ trafficking. Organ trafficking has become a contentious issue, which many governments and international organizations are trying to solve. The international community has been on the far front line in curtailing the organ trafficking business with a number of countries joining to coming up with policy solutions (Kelly, 2013). Some of the countries aim at reducing the