The Training For Volunteer Emergency Service - 1570 Words

In 1942, the United States Navy implemented what it considered an emergency program. The WAVES or Women Accepted for Volunteer Emergency Service was established to bolster the Reserve component with competent personnel. In 1948 women allowed permanent status in the Armed Services. The Armed Forces are now gearing up for the full integration of women into all aspects of the Armed Services by 2016. There are serious practical barriers, which if not approached in a deliberate manner, could adversely impact the health of our Service members and reduce mission accomplishment. This research paper will provide insight into the concerns of integration, unit cohesion, good order and discipline, privacy, physical differences between men and women,†¦show more content†¦I myself am uncertain of what these changes will bring, but just as my counterparts in the military I am woefully uninformed on this topic. There does not seem to be much movement in the military to assess anything but t he positives of this outcome while ignoring the questions I will be researching throughout this paper. How does a combat landscape affect women s biological requirements and reproductive rights? What are some of the Psychological impacts of women s integration into Combat Units? What changes might need to be made to allow women to join these special combat groups in regards to established standards? Many people inside of the military and a great majority outside want women integrated into combat roles as a gender equality issue, though the details are lost in social activism, whether or not the integration is worthwhile for the military is open to discussion. There are many challenges to providing logistically for women in combat zones or forward deployed bases, to accommodate a more hygienic and psychologically positive environment. The combat zone is particularly not conducive to either gender hygienically speaking, yet more so for women. â€Å"Difficulty maintaining menstrual hy giene is another frequently reported concern for women. Due to the often unsanitary living conditions as well as the lack of consistent access to bathrooms and shower facilities,

Audit Theory and Practice in Businessâ€Free Samples for Students

Question: Discuss About the Audit Theory and Practice in Business? Answer: Introducation It is embedded that if a business is being conducted risk is going to follow. However, chances of inherent risk are quite high with the existence of the business. Though various audit procedures are being undertaken, audit training are being conducted, internal control functions are being implemented inspite of all the above measures, the inherent risks cannot be detected. Though these risks cannot be escaped completely although mitigation from these risks are quite obvious. OneTel is a telecommunication company with its business having a global presence. The company has a huge market presence in Australia. It provides a variety of integrated services as well as products to its customers. The main business of the company is into innovation and technology. Although there are more than 35 network providers in the telecommunication industry in Australia and are competing with each other, still OneTel was the leading market player initially. Due to the smaller companies entering the telecommunication industry the customers got benefitted from this. The call rates and the other communication services got cheaper and competitive prices started ruling the industry. Also the various telephonic services i.e. international calls and the long distance calls got cheaper. Although OneTel was leading in the market and had the major stake in the industry although with the introduction of smaller companies there was a decline in the market share of the company (Cook, 20 01). Let us discuss the various factors which ultimately led to the inherent risk assessment at the financial reporting level of the company: The cash flow of the company clearly shows the movement of the funds of the company wherein special care needs to be undertaken by the management. The cash flow and the financials is showing that the company has taken multiple short term, medium term and long term loans during the year. However if there are huge chances of fraud, misstatements and mistakes which could have been avoided had there been control risk measurement measures (Douglas et. al, 2015). The issue of shares also requires effective inherent risk assessment procedures. Also when it comes to valuation of intangible assets the management should make sure that the valuation is done fairly. Some risk mitigation measurements should be undertaken so that no inherent risk could be detected (Cook, 2001). The cash flow statement of the company was also showing that the company has purchased its license in the year 2000. For a telecommunication company, the major financial planning is required in the purchase, registration, m aintenance, capitalization and amortization of the accounts after the purchase of the license. A high-level assessment of inherent risks is required (Cook, 2001). The financials of the company was showing that there was an increase in the amount of plant and machinery which apparently was evidencing that there was a purchase of the plant and machinery. Purchase of the plant and machinery involves huge finances hence the top level management of the company is only involved in taking decisions relating to purchasing of plant and machinery. Inherent risk assessment procedures should be in place as the decision involves various aspects of the purchase as to from where it should be purchased, how it should be purchased, how the requirements would be fulfilled after the purchase of the assets, how the finances will be managed relating to the purchase of the assets. The abnormal items in the financials such as accumulated losses should be dealt with the utmost care. As huge inherent risk assessments are involved hence the management must intervene in decisions relating to computation, maintenance and writing off the accumulated losses from the books of accounts (Gilbert Terry 2005). The most complex job of any organization is when the company is running on the funds funded by the investors i.e. when the company has the funds of the shareholders. The financials of the company is reflecting that the company has raised funds by issuing its shares as the share position of the company was 6 million $ in 1999 and it has reached to 1225.6 million $ in 2000 (Cook, 2001). Though the shares were dematerialized still inherent risk assessment is required in the process of issue of shares, allotment of shares etc. The risks associated with the going concern principle of the business are basically termed as a strategic risk. These are the risks which arise due to the wrong decisions are taken by the topmost level of management. Hence it requires continuous and long-term effort of the management to continuously review the same (Wood, 2011). Whenever the management might not be able to impose the necessary plans and actions or whenever an incorrect decision might have been taken by the management, there arise a high chance of the existence of strategic risk. All planning risks are identified as strategic risks (Monem, 2009). As mentioned above, purchase of rights and licenses, issues of shares are all identified at strategic risk assessment level only. As every management decision follows a top-down approach, the risk assessment also follows the top-down approach. Strategic risks are recognized at the management level, however, inherent and control risks are recognized at the individual transacti on level. It is all on us to judge the level of inherent risk. An individuals judgment is always associated with the measure of risk. A system always contains inherent risk irrespective of the risk management strategy. One can overcome detection risk and control but its the inherent risk that requires farsightedness and judgment of the management. However, there are various factors on which the impact of inherent entirely depends. The various factors are as under: increased inherent risks are favoured by related party transactions. Managements obvious emotional bias towards the transaction is a cause of it. So, a related party transaction poses as another fair factor which results in an increase in the inherent risks of an organization. Potential debt covenant also adds to inherent risks. In the given case itself, it is seen that OneTel takes huge loans and all loans come with covenants. Moreover, serious consequences follow violations of corporate debt covenants. The company has made losses. Following other covenants, repayment of loans and its interest is not a surprisingly easy talk. The risk of management override exists (Monem, 2009). Detection and removal of the risk become a struggling issue if the management tries to overplay. A strong audit team leads to a reduction in risks. On talking about the company as well as its transactions, the incompetence of the audit personal causing inherent risks is missed (Geoffrey et. al, 2016). Inhere nt risks are always posed by an incompetent audit team. The demand for training, expertise, and knowledge of audit personnel is a must to mitigate and detect risks. An increase in inherent risks is favored by abnormal events, transactions, or any non-routine activity. Transactions involving ideas and estimates related to management are prone to inherent risks due to situations subjectivity. Speculations and adjustments are invited by abnormal activities which in turn increases the chances of inherent risks. Fair value determination, computation of estimates, etc. pose the inherent risk (Cappelleto, 2010). Management and measurement of transactions and events require estimates and idea of the management that may or may not always hold good for the business. A risk always sustains. Depending on the nature of the business, the large network of companies is the major and the most obvious factor that leads to the increase in inherent risk. Chances of risk increase with a wider network and large the number of companies in it. What contributes to the increase of the inherent risk are: existence of large number of companies as subsidiaries, holdings, associates, partnerships and joint ventures (Cappelleto, 2010). There can be more entities the company has to manage off balance sheet as well. With the growth of managements complexity the ability of the management to negate inherent risks reduce. Going-concern principle is the most important aspect of any organization. Hence for each company the directors and the auditors while defining the audit process must discuss and find out any opportunity which seems to affect the going concern principle as soon as possible. There are various factors which can create a set back to the going concern principle of an organization. Although the unexpected economic crisis is not in the hands of the management, however, the management should make sure that controlled decisions must be taken to avoid any such crisis (Matthew, 2015). The few factors identified are symptoms evidencing withdrawal of credit support, major failure of debt repayment, loss or withdrawal of key management personnel and that too without replacement, year on year losses being faced by the company, non-fulfillment of creditors covenants, continuous erosion of the companys assets, consecutive losses and companys inability to face competition. The factors as mentioned abo ve leads to the erosion of the reputation, huge losses of the finance thereby eroding the financial position of the company and also affecting the going concern assumption of the company (Vause, 2009). While some factors can be controlled by the company but there are few factors which cannot be controlled by the company. In order to avert the situation wherein the going concern principle of the company can be hampered, the management should take a special interest in ensuring that such errors must be avoided. Few examples wherein the situations are beyond the control of the management area change of the trend ruling the market thereby the company not being able to cope with the sudden change hence leading to failure of the entity in the market, natural calamities, etc (Wood, 2011). Going-concern principle is the most important aspect of any organization. Hence for each company the directors and the auditors while defining the audit process must discuss and find out any opportunity w hich seems to affect the going concern principle as soon as possible (Goodstein, 2011). There are various factors which can create a set back to the going concern principle of an organization. Although the unexpected economic crisis is not in the hands of the management, however, the management should make sure that controlled decisions must be taken to avoid any such crisis. The few factors identified are symptoms evidencing withdrawal of credit support, major failure of debt repayment, loss or withdrawal of key management personnel and that too without replacement, year on year losses being faced by the company, non-fulfillment of creditors covenants, continuous erosion of the companys assets, consecutive losses and companys inability to face competition (Elder et. al, 2010). The factors as mentioned above leads to the erosion of the reputation, huge losses of the finance thereby eroding the financial position of the company and also affecting the going concern assumption of the c ompany. While some factors can be controlled by the company but there are few factors which cannot be controlled by the company (Black, 2010). Analysis The risks associated with the going concern principle of the business are basically termed as strategic risk. These are the risks which arise due to the wrong decisions taken by the topmost level of management. Hence it requires continuous and long term effort of the management to continuously review the same. Whenever the management might not be able to impose the necessary plans and actions or whenever an incorrect decision might have been taken by the management, there arise a high chance of the existence of strategic riskThe management of the company should set various parameters through which it can measure its own capability to change with the sudden change and adapt itself to the market conditions. Hence the companies should set an indicator of low, medium or high and also how fast the action needs to be taken. All these safeguards would necessarily help the business to have a look at a broader picture and to take a better action. The management of the company should set vario us parameters through which it can measure its own capability to change with the sudden change and adapt itself to the market conditions. Hence the companies should set an indicator of low, medium or high and also how fast the action needs to be taken. All these safeguards would necessarily help the business to have a look at a broader picture and to take a better action. References Black, W. K 2010, Epidemics of Control Fraud lead to Recurrent, Intensifying Bubbles and Crises, Working paper, University of Missouri-Kansas City. Cappelleto, G. 2010, Challenges Facing Accounting Education in Australia, AFAANZ, Cook, T 2001, Collapse of Australia's fourth largest telco adds to growing list of corporate failures viewed 15 May 2017 https://www.wsws.org/en/articles/2001/06/onte-j08.html Douglas M.B, Todd, D.F Hermanson, D.R 2015, The Effects of Internal Audit Report Type and Reporting Relationship on Internal Auditors' Risk, Judgments Accounting Horizons vol. 29, no. 3, pp. 695-718. Elder, J. R, Beasley S. M. Arens A. A 2010, Auditing and Assurance Services, Person Education, New Jersey: USA Geoffrey D. B,Joleen K,K. Kelli SDavid A. W 2016, Attracting Applicants for In-House and Outsourced Internal Audit Positions: Views from External Auditors, Accounting Horizons, vol. 30, no. 1, pp. 143-156. Gilbert, W. J Terry J. E 2005, The Use of Control Self-Assessment by Independent Auditors, The CPA Journal, vol. 3, pp. 66-92 Goodstein, E 2011, Ethics and Economics, Economics and the Environment, Wiley Matthew S. E 2015, Does Internal Audit Function Quality Deter Management Misconduct?, The Accounting Review, vol. 90, no. 2, pp. 495-527 Monem, R 2009, The Life and Death of OneTel, Griffith University. Vause, B 2009, Guide to Analysing Companies, Bloomberg Press Wood, D A 2011,The Effect of Using the Internal Audit Function as a Management Training Ground on the External Auditor's Reliance Decision, The Accounting Review, vol. 86. No. 6