Tuesday, December 24, 2019

Michael Asch, An Anthropologist - 900 Words

Michael Asch, an anthropologist, has written a couple of books on First Nations Canadians and their location in the social and political hierarchy of Canada. Throughout his book, On Being Here to Stay, he makes many arguments and utilizes many cases and examples of the First Nations Canadians political and civil rights and examines the way the Canadian government has handled the task of placing the First Nations and aboriginal people into a western democracy and wester thought. Michael Asch explores the long road to amends with the sovereignty of Canada compared to the First Nations rights and the changes that occur. In Chapter Two in On Being Here to Stay, one finds the first legal argument Asch explores in his book. This legal argument is based in the case Calder v. Attorney General of British Columbia, which is often referred to as the â€Å"Calder Case,† took place in 1967. The Calder Case explored the rights of the Nisga compared to the rights of the Crown. The question regarded â€Å"’the aboriginal title, otherwise known as the Indian title†¦to their ancient tribal territory’ and that this title, which had ‘never been lawfully extinguished,’ encompassed an interest to benefit from activities on their ancestral lands.† The Nisga wanted to ensure that because they were living on the land before the settlers arrived, their land and rights were theirs no matter the different sovereignties who occupied other land. The judgment that was handed down in April 1969 by Justice J. GouldShow MoreRelatedStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesCollege of Business at the University of Hawaii Bruce Bikle, California State University, Sacramento xxx Richard Blackburn, University of North Carolina–Chapel Hill Weldon Blake, Bethune-Cookman College Carl Blencke, University of Central Florida Michael Bochenek, Elmhurst College Alicia Boisnier, State University of New York William H. Bommer, Cleveland State University Bryan Bonner, University of Utah Jessica Bradley, Clemson University Dr. Jerry Bream, Empire State College/ Niagara Frontier Center

Monday, December 16, 2019

Death of An Economy Free Essays

string(164) " Hence Pakistan is permanently playing catch up to the rest of the developed world leaving very little money for social services to help the situation of the poor\." My topic deals with Pakistan, its relationship with the IMF and World Bank, and its internal problems that are causing unemployment, poverty, economic crisis and hunger. I shall be analyzing the situation using the neo-classical theory, as it is what the economists of the Pakistan government and the IMF are using to alleviate the economic instability of the country. Situated in the sub-continent, Pakistan is a low-income country, with great promise for growth. We will write a custom essay sample on Death of An Economy or any similar topic only for you Order Now Unfortunately, it is held back from reaching middle-income status by chronic problems like a rapidly growing population, sizable government deficits, a heavy dependence on foreign aid, recurrent governmental instability and large military expenditures. It is to address these fundamental faults in Pakistan†s economy that the IMF has initiated the Structural Adjustment Programs (SAPs) in the country. This is discussed in further detail later in the paper. Like all developing countries, Pakistan†s population is largely employed in the agricultural sector, which accounts for about 48 percent of the labor force. In today†s world the Industrial and Service sectors are the largest growing areas of a developed county†s economy. Yet Pakistan only employs 39 percent of its population in Service, and a minute 13 percent in Industry. This is a paltry figure, compared to the employment statistics of a developed country. Pakistan is also heavily dependent on a single export crop, cotton. Hence the country†s fortunes rise and fall with the cotton market. It is no wonder that there are so many poverty stricken people in Pakistan. When almost half the population is involved in a very volatile market, a lot of the time, a lot of people will be burnt by price fluctuations. The country is also subject to the mercy of the weather. Focussing on a major cash crop means very little diversification. This translates to mass hunger and hard times for the agricultural sector whenever the agrarian lands are ravaged by floods, or conversely, by droughts. Even more importantly, Pakistan†s agricultural sector is marked by large landowners, controlling most of the production. Hence, only a minimal amount of the profit from exports goes to the poor people working for the large farmers. It is these people who constitute a large portion of Pakistan†s population. It is also these people who are living in abject poverty in the rural regions of the country, devoid of the right to feed their families. This is a great illustration of a theme discussed in â€Å"World Hunger, Twelve Myths.† Lappe, Collins, Rosset and Esparza discuss the commonly believed myths about why hunger and poverty exist. In it they clarify this very important point: hunger does not exist due to a shortage of available food, but because of ‘fear† and ‘powerlessness,† resulting in the ‘anguish, grief and humiliation† felt by the hungry and poverty stricken. Pakistan is a classic example of this theory. Based on a feudal system, especially in agriculture, Pakistani society is primarily controlled by feudal overlords, (a.k.a. the politicians or relatives of politicians), who own or oversee most of the agrarian land and industrial base. Being above the law, due to their political influence, these corrupt people can literally get away with murder. Thus, keeping their laborers subdued and underpaid is no hard task. Anyone who dares to complain is used as an ‘example† for potential future unrest. As a result, the people in their ‘elakhas†, (controlled lands), remain destitute in the throes of poverty, unable to help themselves due to their lack of power and the fear of the ‘thekedars†, (large landowners). By a lack of power, I refer not to a dearth of physical prowess but to a scarcity of basic human rights. These are the same rights that people in developed countries take for granted. The right to vote for whomever one feels like is missing. Instead a lot of villagers are forced to vote for the local land owner due to a combination of fear and ignorance; a fear of the repercussions of a potential loss by the feudal lord and the ignorance of any means to escape this same overlord†s wrath. Very often there is also no choice of candidates. There are very few people willing to risk their own and their families† safety by running against their subjugators. All this goes against the very nature of the free market economy that Pakistan is supposed to be running. While the IMF and World Bank are using Neo Classical theory to address the nation†s problems in the capital, half the country is still being run under the feudal system. Till this system is broken, and the immense lower classes are empowered there is not a dent that can be made in the country†s poverty and hunger issues. Rather the problem will continue to grow right under the economists† noses. Pakistan is also set back by ethnic problems, having numerous groups including Punjabis, Pakhtoons, Sindhis, Balochis and Mujahirs. Speaking different languages, the different ethnic groups do not get along very well as is witnessed by the numerous clashes between Sindhis and Mujahirs in the violence torn city of Karachi. The language barrier also translates to a lack of mobility of labor, which is a key to economic success under neo-classical theory. Hence the large sparsely populated province of Balochistan is presently under utilized. Due to a lack of available labor, industries are tough to set up. If the language/ethnic barrier could be overcome, the rich lands of Balochistan could potentially become the saviors of Pakistan†s economy. Pakistan also has a very week industrial base. Being an ex British colony it suffers from a similar problem to the one ailing a number of the African and South American countries. This issue is that the colonists never bothered building up the necessary base for industrialization. While the rest of the world was busy building this base, greedy colonists who did not care about the country and thus paid no attention to its development were exploiting countries like Pakistan. Hence Pakistan is permanently playing catch up to the rest of the developed world leaving very little money for social services to help the situation of the poor. You read "Death of An Economy" in category "Essay examples" The literacy rate in Pakistan is also very low. In 1992, the official literacy rate for the adult population was said to be a low 36 percent. Even more dismal was the statistic that listed 45 women being educated for every man. With this dearth of qualified personnel, there is no room for economic growth as there are no new minds to head the growth. Women are also the primary food producers in Pakistan. If they are not being educated, it means that they are not up to date on the latest production techniques, which in turn translates to inefficiency and the aforementioned ignorance. Once again it all ties into the powerlessness that marks the hunger and poverty-stricken. Women represent 54 percent of Pakistan†s population. If they are not allowed to exercise their rights to an education and to vote, how can the country be expected to progress? It is like asking a man with one leg to run. Like other third world countries, in Pakistan, substandard housing, inadequate sanitation and water supply, and widespread malnutrition contribute to spread of disease and to high infant, childhood, and maternal mortality. The leading causes of death are gastroenteritis, respiratory infections, congenital abnormalities, tuberculosis, malaria, and typhoid fever, all preventable diseases. Unfortunately the poor, uneducated lower classes are not given enough attention by the corrupt officials running the country, which is resulting in their situation deteriorating year by year. These, along with other economic and social issues are causing immense hunger and poverty in Pakistan. Presently Pakistan is passing through an unprecedented economic crisis, made worse by the global recession. The turmoil in domestic markets and the imbalance between resources and liabilities threatens to roll back the modest levels of economic development and industrialization that Pakistan has achieved so far. Had it not been for a reasonably strong agricultural base, the situation would be much worse. This ‘situation† has been caused by a mixture of issues, including the near sightedness of politicians and their persistence in following politically popular, but economically disastrous policies. An example of this is the detonation of a nuclear bomb a year ago. Simply to show off to India and the rest of the world, as well as to raise their local popularity, the Pakistani government decided to go ahead with an unnecessary test that brought economic sanctions against them and also cost them a lot of their aid from western countries. However, much more important have been the structural reasons underlying this deterioration, all of which have been contributing to the growing feeling of desperation the hungry and poverty stricken have been experiencing. Before this paper begins finding solutions to the problems at hand, we need to remind ourselves of the key issues. 1) One major problem that Pakistan needs to deal with is the fact that its expenses are far more than its revenues. Partly due to decades of lax fiscal management, but more because of myopic policies in its external relations, the militaristic structure of the state and the narrow vision of its rapist elite, Pakistan is Rs 100 billion short of the money to simply keep its existing machinery operational. How is a third world country supposed to develop an infrastructure when it is spending more than its net revenues on only two items, debt servicing and defense? In fact, Rs 18 billion of its defense has to be financed to borrowing. The Pakistani government has not been governing; it has simply been acting as a debt-securing agency. 2) Lately the government has been touting the fact that it has achieved the IMF imposed budget defect target. What it neglects to mention that it achieved the target through questionable means. Firstly, it drastically reduced its developmental expenditure from 7.5 per cent of GDP in the early ’90s to a paltry 3 per cent, which translates to a cutback of 140 billion in present prices. A cutback of expenditure of such extent in the governments purchases of private sector goods like cement, pipes and cables and services like engineering explains why a number of private sub-sectors are at the point of closing down, operating at a vastly reduced capacity. This is adding to the issues of hunger, poverty and unemployment being faced in Pakistan. The government has also reduced the amount it givers to the provinces by Rs 30 billion, transferring some of its debt to the provincial governments. In other words the government has done nothing to resolve the issue of structural defect. 3) What†s worse is that not only has developmental expenditure been sharply curtailed, but that the scarce resources set aside for infrastructure works have been diverted to less productive investments_like the new motorway and the new Lahore airport. This massive reduction of the public sector†s developmental activities is causing a contraction in employment opportunities for Pakistan†s growing number of middle class educated youth. This is particularly serious in the areas where the private sector is unlikely to locate due to the lack of infrastructure. Thus the really poor areas continue to live in poverty due to the government†s inability to provide adequate physical and social infrastructure or create an environment for private sector investment. It has also not been able to maintain law and order and is guilty of not living up to its contractual obligations which is further discouraging foreign and domestic investment in the country. The treatment of its foreign currency account holders and IPPs last year illustrates this point. 4) Pakistan suffers from the typical problems that all third world countries suffer. One of these is massive corruption at all levels, estimated at Rs 100 billion a year. This means that a large portion of national wealth has been stolen from the poor. No wonder, the country is unable to lift itself out of the quagmire of poverty and hunger. 5) Tax evasion is another issue that the government needs to address. Successive governments have failed to establish a tax culture due to an inequitable structure, which taxes different sources differently. An example of this is provided by the large farmers who, despite now getting higher international prices for their crop, are unwilling to pay the modest levels of provincial taxes. The political leadership itself does not pay its taxes diligently. Thus, unless companies owned by sitting ministers install invoice based systems for tax accounting, it will continue to be difficult to enforce retail taxes. Also, the repeated bowing down of the government to shutter-down threats of traders and the repeated refusal of large land-owners to meet their tax obligations is increasing the burden of taxes on the helpless poor, the organized sectors, and the honest people foolish enough to pay their taxes. If the rich are not willing to meet their responsibilities, how are the poor supposed to survive? 6) There is the additional problem of a gap of between 5 an 6 per cent of GDP per year between domestic national savings and investments which translates to approximately Rs 150 billion being financed from external borrowing. This further adds to the crippling debt that is allowing the IMF and World Bank to interfere in the formulation of domestic economic policies. 7) The external debt of around US$ 34 billion is more than 50 per cent of GDP, and four times the annual foreign exchange earnings. Pakistan can neither repay nor service this debt. So far I has only postponed the inevitable, default by piling up further debts at abominably high rates. 8) Pakistan†s exports compromise 0.2 per cent of world exports and diversification from a single crop economy has remained an elusive dream. Therefore to hope for exports to be the driving force of economic recovery, as the government is doing, would require an astronomical rise in exports, and the price of cotton. In other words it is impossible. 9) The country†s ability to export is also affected by sluggish world trade, which coupled with an over valued currency, is rendering Pakistan†s exports uncompetitive. With the rise in the price of oil, the gap between import bills and export receipts is widening. 10) Until now this gap has been met with remittances and short-term borrowing. But due to a decline in remittances for a number of reasons and Pakistan†s declining credit, this is no longer an option. It therefore seems that it is impossible to maintain the present levels of growth rates and imports as well as meet debt servicing. 11) Public sector industries are also deeply in the red due to over-manning, corruption, and the protection given to large defaulters of utilities. The combined debts of just WAPDA and KESC, (which deal with electricity and gas respectively,) are Rs 91 billion while the loans of 18 public sector enterprises is close to Rs 250 billion. 12) The government is offering 15 to 18 per cent interest rates on its saving schemes which is far to high for it to be able to generate high enough returns to service the debt and still have enough left over to finance developmental activities. 13) Most of Pakistan†s industry faces the issue of negative or nominal growth, while value-added industry is operating at 30% below capacity. The limited growth is due to a lack of comparative advantage, the lack of credit availability and a high interest rate. Despite inflation being well below double digits, interest rates are as high as 15 to 18 per cent on loans! This is too high to keep the present economy afloat, let alone raise it to a maintainable level of growth. 14) There is also a lack of confidence in the government by the private sector. How can a government that cannot even handle domestic peace issues be expected to turn around an economy that is in the throes of a downward spiral? Therefore the private sector has been occupied in short-term trading and currency speculations which do nothing for growth or the welfare of the state. 15) An obvious result of this situation is that the disparity between the rich and the poor has grown. The share of the poorest 20 per cent of households has fallen to 7 per cent while the richest 20 per cent are receiving over 45 per cent. The low rate of economic growth and the high rate of inflation over the last few years have left the poor with no buying power resulting in almost a third of the population living below the poverty line. There is also anger amongst the poor about the fact that the incidence of increased taxation has been heaviest for them; expenditures on services for them have declined. Social tensions are rising with the growth of the absolute number of poor, illiterate and jobless, as employment opportunities and wages decline due to the stagnating economy. Such conditions are hardly conducive to political and social stability, without which growth will remain a distant dream. On top of all of this, Pakistan is plagued by the curse of the IMF and World Bank. Constant defects in the current account of the balance of payments and depleting foreign exchange reserves is causing the extension of credit to become an exercise in haggling and bargaining. Each time there are negotiations along with a string of conditions attached to the loan. The release of credit is then delayed until each and every condition of the IMF has been met. The only way that Pakistan can now secure loans and vital extensions on its debt is to institute the Structural Adjustment Programs that have been drawn up by IMF economists. The problem is that the benefit of these programs is questionable. Most countries have suffered immensely from them. Instead of improving the economy, these programs have been destroying them. Unfortunately, like other countries that have yielded to the them, Pakistan is virtually being taken over by the IMF, along with the World Bank. How to cite Death of An Economy, Essay examples

Sunday, December 8, 2019

Audit Testing of Various Accounts for Trial - myassignmenthelp

Question: Discuss about theAudit Testing of Various Accounts for Trial Balance. Answer: Introduction Audit Testing Audit is a crucial part of management of financial statements of a particular organization. Audit testing of accounts is very important and is done on a periodical basis in order to check that whether the accounts represent a true and fair view of the financial position of the company. Preparations of accounting statements require monitoring of different accounts. This is what is exactly done by audit testing of accounts. A good auditing done reveals the evidences that seconds the assertion that the financial statements are proper, accurate and in accordance to the laid down accounting standards (Huber 2016). Analytical review The analytical review of the trial balance report is generally prepared with the help of the account balances that are extracted from the general ledger. If any particular entry is missing then that can be identified from the trial balance as the total debit and credit balance will not match, thus the trial balance cannot be closed. The preparation of the trial balance is an imminent step in preparation of financial statements because it provides a material proof that the account balances are proper and error free. The steps in analytical review of the trial balance are generating a trial balance; matching the totals of the debit and credit balances of the respective trial balance. In case there is any kind of problem in the accounts then adjusting entries need to be passed. For instance if an expense is wrongly recorded then an adjusting entry of the same amount representing gain must be passed in order to cancel the wrongly entered expense entry (Veronica and Bachtiar 2014).The acc ount balances should also be checked individually in order to make sure that the amounts associated with each of the accounts are accurate, in case there is any discrepancy then the purpose of that particular entry must be reviewed and amended, if required. In case of the trial balance provided in the question, Chamoisee Enterprises Trial Balance shows the debit and credit balances for two financial years 2015-16 and 2016-17 and appears to be alright (Desai 2015). Preliminary judgment of materiality The term preliminary judgment about materiality refers to the maximized amount that is believed by the auditor that even if these statement of accounts are misstated then also it would not affect the decision making process or the true and fair view of the accounts as such. The materiality is mostly allocated to balance sheet and not income statement accounts because of the double-entry book keeping system which imposes a similar effect both on the income statements and balance sheet (Barndt, Fuller and Flynn 2016). There is also an allotted amount of allowed misstatement under which any amount of materiality is allowed because some accounts may be understated and again some accounts may be overstated that leads to a net total amount less than the tolerable amount. Materiality is an important tool in the hands of the auditor and can be used efficiently in order to assess the quality of the accounts prepared (Eilifsen, Hamilton and Messier Jr 2017). Repairs and Mainter Account Rationale for selection After analytical review of the trial balance and the execution of materiality assessment the account of Repairs and Mainter is selected. This is because the total debit balance of the account for the financial year 2015-16 is $5050 and the debit balance for the financial year 2016-17 is $960. The percentage change in the account balance is 81%. Assertion and Explanation This account may be at risk of fraud because there has been a huge change in the account balance, precisely of $4090. The change may be due to genuine reasons but as no further information is provided as to why there is such a disparity in the balances of two consecutive financial years, it may be assumed that the statement has been misstated. This has been done to show increased profits of the firm for the current financial year by decreasing the actual amount of expenses incurred on repairs and maintenance so as to lure the shareholders and investors. This might also be the case that the fraud was committed in the last financial year that is 2015-16. The balance of the repair and maintenance account may be increased deliberately so as to increase the expenditure amount so that the firm can evade extra tax which it has to pay on the basis of the revenue earned (Gaber and Lusk 2015). Recommended Audit Procedure The recommended audit procedure for treating accounts with fraud risk is that the auditor should monitor and assess the relevant information that is collected from the risk based auditing procedures and confirm whether one or more than one fraud related risk factors are present or not and should be listed down and considered while identifying and assessing fraud risks. Factors that help in identifying risks associated with fraudulent activities are events that tend to indicate a monetary incentive or pressure that ultimately leads to fraud; a loophole that is enough for initiating the fraud, or a perspective or attitude that is enough to justify the unethical action. Needless to say fraud related risks do not mandatorily suggest that a fraudulent activity is being carried out in the firm but the existence of even a single indicator is enough to take preventions against fraud. Cost of Sales Account Rationale for selection The account that requires audit attention for qualitative reasons other than fraud related risks is Cost of Sales Account. This account is selected because this is one of the most important accounts, that is prepared in order to figure out the total manufacturing costs. Assertion and Explanation The Cost of Sales Account is selected because this account is directly linked with the cost of manufacturing the goods. Cost of goods sold account generally includes all the direct costs associated with the goods producedby a company along with the direct labor costs. The primary purpose of a business is to incur profits. The net profit that is incurred from business cannot be exactly calculated if enough attention is not given on the cost of goods sold. This is because the cost of goods sold account is a clear indicator of the fact that the newest strategies and plans implemented to maximize the profit is working or not. The cost of goods sold also reveals the areas of resourcefulness in the business. In simpler terms, the components of manufacture that attribute most to profits is indicated also by the cost of sales account. Therefore the Cost of Sales account should be audited with utmost care (Bernard 2016). Recommended Audit Procedure The recommended audit procedure for auditing the cost of sales account revolves around a lot of procedures like authorizing the purchase of raw materials, accurate recording of inventory costs, inventory tests. The auditor should keep a keen eye as to how a particular category of goods are prepared, costs incurred and the related statements recorded. Accounts Receivable Account Rationale for selection The next account selected for audit testing is accounts receivable account. This account represents the receivables of a particular firm. This account has a direct link with the sales account as increase in sales will definitely increase the receivables. Assertion and Explanation The Accounts Receivable account is selected because it is one of the most important accounts that represent the future receiving of a firm in the form of credit sales. Generally the accounts receivable account is treated as an asset because it represents future income. But in case of customers who are not able to pay in time, this appears to be a loss for the company and the amount is transferred to the bad debts account. Thus the accounts receivables account must be audited with due care and importance (Hribar, Kravet and Wilson 2014). Recommended Audit Procedure The recommended audit procedure for auditing the accounts receivables account is that the auditor should test whether the balance in the subsidiary ledger is matching with the balance in the general ledger. The auditor should also communicate with the various customers and confirm the exceptions. He should also confirm the same on the part of the banks and find the reasonability behind discounted or unbilled receivables. Consultancy fees Account Rationale for selection The Consultancy fees account is selected because it is an expense account and can be materially misstated. The balance of this particular account is $57000 for the financial year 2015-16 and $39500 for the financial year 2016-17. Assertion and Explanation The Consultancy fees account is selected because the expenditure for consultation incurred by the firm was $57000 previously and $39500 for the next financial year. Now it is apparent that the firm had expensed less in the financial year of 2016-17. This may be a genuine occurrence or may be done purposely in order to increase the profit and lure the shareholders and investors. The materiality of misstatement is an issue of concern and may be applied by the company in order to show increased revenues of the firm (Alexeyeva and Svanstrm 2015). Recommended Audit Procedure The recommended audit procedure for auditing the consultancy fees account is that the auditor should crucially check the recorded statements and transactions incurred between the firm and the consulting body. The auditor should also communicate with the consultancy, in order to make sure that all proceedings have been carried out correctly and then the chances of misstatement should be cut out. Superannuation Account Rationale for selection The Superannuation account is selected next because as per the set standards every employer has to keep away a certain percentage of the employees salary and even contribute a certain percentage from the part of the employer for employee benefit purposes. The balance for the year 2015-16 is $4770 and $2373 for the year 2016-17. Assertion and Explanation The superannuation account is selected because it is the duty of the auditor to be highly vigilant whether the employee welfare policies of a particular company are properly implemented. In case of Chamoisee Enterprises the amount has decreased from $4770 to $2373. This implies that either the company has contributed less to the fund of employees or it there has been a reduction in the number of employees. The auditor should keep these facts in mind and execute proper investigations (Boone 2017). Recommended Audit Procedure The recommended audit procedure would be that the auditor should be very strict with employee welfare policies and should take enough care as to why the contribution of the company in relation to this has decreased. The auditor should carry out a thorough investigation. Owners Equity Account Rationale for Selection The owners equity account is selected because this account represents the owners investment in the firm excluding the withdrawals made by the owner, added with the net income since the beginning of the venture. Assertion and Explanation As observed in the provided trial balance owners equity balance for the financial year 2015-16 is $135683 and for the financial year 2016-17 is $181845. It is apparent that the owners equity account balance has increased which is a healthy indication, but also auditing of this account is equally important as the risk of material misstatement is very high in case of these kinds of accounts (Needles, Powers and Crosson 2013). Recommended Audit Procedure The recommended audit procedure that the auditor should follow is that he should consider past profits as recorded in the previous accounting statements and check whether the net profits has been added properly. He should also check whether the profit earned is properly distributed among the owners in accordance with the accounting ratios. Wages Account Rationale for Selection The Wages account is selected because of the reason to check whether the domain of direct labor is properly maintained by the company and in accordance to the set standards by the labor association. Assertion and Explanation As observed in the trial balance, the wages account balance in the financial year of 2015-16 is $53000 and for the financial year of 2016-17 is $32000. The only reason for this account being selected is that the auditor should keep a vigilant eye towards the labor welfare policies and whether the policies are being properly implemented or not (Ionescu 2016). Recommended Audit Procedure The recommended audit procedure that the auditor should follow is that he should make sure that the labor welfare policies are properly implemented and the standardized rules set out by the labor association are being followed. The wages account balance has also decreased from $53000 to $32000 which is also an issue of concern and should be looked into. References Alexeyeva, I. and Svanstrm, T., 2015. The impact of the global financial crisis on audit and non-audit fees: Evidence from Sweden.Managerial Auditing Journal,30(4/5), pp.302-323. Barndt, R.J., Fuller, L.R. and Flynn, K.E., 2016. Teaching Inherent Risk and Tolerable Misstatement in Auditing: A Modified Delphi Method as a Teaching Tool. InAdvances in Accounting Education: Teaching and Curriculum Innovations(pp. 125-140). Emerald Group Publishing Limited. Bernard, D., 2016. Is the risk of product market predation a cost of disclosure?.Journal of Accounting and Economics,62(2), pp.305-325. Boone, J.P., Khurana, I.K., Raman, K.K., Chen, L.H., Chung, H.H.S., Peters, G.F., Wynn, J.P.J., Chen, Y., Knechel, W.R., Marisetty, V.B. and Truong, C., 2017. Auditing: A Journal of Practice Theory A Publication of the Auditing Section of the American Accounting Association. Desai, N., 2015. The Effects of Group Brainstorming on the Auditors Search for Potential Misstatements and Assessment of Fraud Risk in the Presence of Pressures and Opportunities. Eilifsen, A., Hamilton, E.L. and Messier Jr, W.F., 2017. The Importance of Quantifying Uncertainty: Examining the Effect of Audit Materiality and Sensitivity Analysis Disclosures on Investors Judgments and Decisions. Gaber, M. and Lusk, E., 2015. Account screening: Rationalizing the extended procedures decision in the audit context.EXCEL International Journal of Multidisciplinary Management Studies,5(9), pp.1-20. Hribar, P., Kravet, T. and Wilson, R., 2014. A new measure of accounting quality.Review of Accounting Studies,19(1), pp.506-538. Huber, W., 2016. Forensic Accounting, Fraud Theory, and the End of the Fraud Triangle. Ionescu, L., 2016. The impact of rotation on accounting and audit quality.Economics, Management and Financial Markets,11(3), p.86. Needles, B.E., Powers, M. and Crosson, S.V., 2013.Principles of accounting. Cengage Learning. Veronica, S. and Bachtiar, Y., 2014. The Role of Corporate Governance in Preventing Misstated Financial Statement.JurnalAkuntansidanKeuangan Indonesia,2(1), pp.159-173.