The Media Item You Chose - 1143 Words

What is the issue discussed in the visual media item you chose? The issue discussed is Germany’s coming decision on becoming part of the Transatlantic Trade and Investment Partnership, or TTIP. The main supporter of the TTIP in the cartoon is Barack Obama holding an apple out to Angela Merkel, looks undecided on taking the apple. What is the creator’s viewpoint on the issue? What details in the resource support the author’s claim? Provide evidence from the item to support your response. The creator has a viewpoint that many of the consumers and companies in Germany are opposed to accepting the Transpacific Trade and Investment Partnership, despite Angela Merkel’s movements to accept it. The cartoon depicts Angela Merkel reaching†¦show more content†¦In the cartoon, Angela Merkel is looking back at the people she represents to see if they agree or oppose, proving her thoughts of protectionism as well, because she wants to protect her country’s businesses as well. Do you agree or disagree with the viewpoint of the item you chose? Why or why not? I agree with the viewpoint of the item because Germany and much of Europe has been dealing with an economic crisis, and they would make a good decision to build up their manufacturing again before taking part in more international trade. It is good to trade, but with the recent turmoil that Germany and the rest of the European Union has faced, they are already struggling economically in the European Union, and it makes no sense to add another trade deal that has the possibility of hurting domestic production. Picture: Mexican farmer burns a tractor in protest of NAFTA From The Guardian news website, in a story published the 4th of January 2014, â€Å"NAFTA: 20 Years of Regret for Mexico.† http://www.theguardian.com/commentisfree/2014/jan/04/nafta-20-years-mexico-regret What is the issue discussed in the visual media item you chose? The issue discussed is whether mexican farmers benefited or were hurt by the North American Free Trade Agreement. The picture depicts a farmer holding a

The Manager as a Systems Thinker Free Essays

Introduction Managing an organization is no easy job. There are a lot of factors that should be taken into account—processes, procedures, people, raw materials, and accountabilities among others. Given this complexities, managers tend to view their role as that of the maintenance officer trying to make everything run given the schedule and agreed upon goals within the organization. We will write a custom essay sample on The Manager as a Systems Thinker or any similar topic only for you Order Now The complexities of the management process is even confounded by the difficulties in the communication process brought about by conflicting ideas and personalities of different people, as well as by new trends and issues arising in the society. In this regard, advances in telecommunications and other technologies also pose a challenge to the processes used to be followed by the manager in particular and by the organization in general. Problems and challenges occur in different areas of the organization in the same way that a machine may break down every now and then. Managers, however, in fixing these problematic areas, tend to focus only on the particular area where the problem occurred. The other extreme position is to focus on the big picture too much without going down to the level of the details and trying to understand what made such an area malfunction (Reed, 2006). The whole picture, however, is more than just the sum of the individual parts. When these individual parts come together to help achieve a goal or establish a process, they cannot be easily broken down into the component parts. As such, the system takes on a life of its own and may even dictate the future direction that the organization may take in the future (Ryba, 1996). The Role of the Manager Traditionally, managers are seen coordinators and a kind of director that monitors everything going on within the organization. If anything goes wrong, he should be there trying to fix things and making sure that they get back on track to make things going again. Such a role of the manager, however, is limited to trouble-shooting and monitoring. It does not capture the breadth and depth of what truly goes on in the management process. Thankfully a lot of authors have looked into a more holistic view of the manager. After all, the manager is not a firefighter that is only present whenever something or somebody is on fire. Rather, the manager also is a leader in the sense that he sees what is going on, and he foresees where the trends and circumstances are leading the organization. As such, the manager is a proactive leader that takes the necessary precautions and steps to ensure that the different aspect of the organization is ready to take on the challenges brought by the external and even the internal environment of the organization. The twenty-first century is the century that information and knowledge took center piece in the economy. Handling knowledge and information is now as important as managing the assembly line. In my own experience, management is more than just monitoring and implementing projects. Rather, a manager is also a thinker who takes into consideration the overall situation of the organization and how it can survive given the difficulties and challenges it is facing. The manager does some tweaks here and there but on the whole, he takes into consideration how the whole system can work better. Personal Experience of Managing Using Systems Thinking A recent personal experience in management occurred to me. The manager, although a friend of mine, was complaining about the low level of output from some members of the organization. Up to a certain degree, he was right. There were two people who were simply not meeting the standards that the company has set—these people did not meet their sales quota, which of course, affected the performance of the whole team. What the manager did was in step with systems thinking. Instead of going directly to the two persons and scolding them for their poor performance, he observed them keenly and tried to understand the situation. After several days of observing them and their work patterns, he also conducted informal chats with other members of the team regarding work processes and dynamics. By the end of the month, he called for a meeting to address the level of the performance as well as some of the issues that he was able to uncover. As it turned out, there were personal differences between the two persons and it was affecting their level of performance. The manager, however, did not only focus on that, but he also looked into the settings in the office and the way that work flows were designed. He elicited several suggestions for a more dynamic and responsive work flow from the team members. After that, he led the team members into a brainstorming of several ways of addressing the issue of performance. Had he asserted his authority right away, he would not have secured the participation of everyone. But because of systems thinking, the team was able to identify the root causes of difficulties and challenges. Â   How to cite The Manager as a Systems Thinker, Essay examples

Social Governance Assurance And Consulting -Myassignmenthelp.Com

Question: Discuss About The Social Governance Assurance And Consulting? Answer: Introduction This study demonstrates regarding the stipulations of the directive ASA 701 that talks about dictates as regards communicating appropriately key audit matters principally in the independent pronouncements of the assessors. ASA 701 is about communication of key audit maters and is mainly about autonomous pronouncements of auditors. The present auditing rule of Communicating Audit Key Matters of ASA 701 particularly in the pronouncements of auditors is necessarily generated at setting of the worldwide financial crisis. Essentially, this study illustrates about audit procedures of audit of financial pronouncements of Woolworths Limited for a particular period of time. Accounting Stratagems The governing bodies as well as transnational corporations namely Woolworths Limited can make effort to overcome unfavourable influences of worldwide financial crisis by directing the mechanisms of financial reform. According to the features of ASA 701, the auditing standard establishes different necessities and provides applications together with the explanatory materials regarding communication of important audit matters in necessarily the independent auditors report. According to requirement of the regulations of ASA 315, auditors of financial assertions of Woolworths Limited can take into account specific areas of high assessed risk of material misstatement otherwise considerable risks recognized in financial assertions (as mentioned in paragraph A 19- A 22). In essence, the assessor also needs to determine matters that were declared as per paragraph 9 of the regulation in the opinion report of the statement. This can be regarded as the key audit maters as mentioned in the paragr aph A 9 to 11 as well as A 27 to 30 (Auasb.gov.au 2018). Accounting Policies The annual report of the year 2016 of the corporation Woolworths Limited mentions that the basis of preparation of the report. This segment of basis of preparation states that the firm presented shows utilization of historical cost and specific foundations of going concern. In itself, this can aid in understanding modified opinions according to directives of ASA 570 or material misstatement associated to specific events or circumstances. This might probably help in understanding uncertainty regarding potential of the business as a going concern according to ASA 570. Thus, this can be considered as key audit matter that auditor can correspond for helping them understand potential of the corporation as going concern (Auasb.gov.au 2018). Analysis of financial statements of the firm Woolworths Limited Analysis of financial assertions of Woolworths Limited reflects the fact that the announcement that is the general purpose financial statements of the for profit corporation is prepared as well as presented as per Corporations Act (2001), standards declared by Australian Accounting Standards as well as Interpretations and the necessities of the law presented by the International Financial Reporting Standards (IFRS). It is prepared using basis of historical cost excluding derivative instruments valued at fair value (Carson et al. 2016). The report states that accounting policies are implemented consistently to different periods. Assessment of audit risk As per the directives stipulated under ASA 315 declared by Auditing and Assurance Standards Board, assessors of the firm Woolworths Limited can analyse business risks. This essentially refers to risks stemming from significant conditions, events, situations that can unfavourably affect overall potential of firm to arrive at its objectives and put into practice requisite stratagems (Contessotto and Moroney 2014). Ways it can be related to financial statements of Woolworths Limited The directives mentioned under auditing standard (ASA 315) as mentioned under paragraph numbered A (105 to 108) states regarding recognition and analysis of material risk at specifically the level of financial statement (Auasb.gov.au 2018). Fundamentally, this can be associated to risks associated to material misstatement at the assertion level for different classes of transaction, companys balances of account together with disclosures of firm for delivering foundation for developing and undertaking processes of audit (Hu 2015). In essence, the assessor can evaluate detected risks and evaluate whether they relate to economic report. Significance of business risks in planning audit process in Woolworths Limited Bearing in mind high profile financial scams in present times, the role along with responsibilities of evaluators can be enquired. The auditors of Woolworths can gather comprehension concerning risks along with exposures of then firm finally created them to ignore the influence of aggressive exercises of accounting. Intrinsically, it is in view of this type of scams that recognition of top down approach can be emphasized for acquiring business of the corporation, environment of the business in which Woolworths Limited thrives, significant risks of business and the way risks can transform into audit risks (Liao et al. 2016). Processes of assessing audit risk In a bid to analyse risks, auditors can pursue the following processes: -Recognition of business risks that is applicable to purposes of financial reporting of Woolworths Limited (Hay 2015) -Estimating significance of risks -Analysing probability of occurrence -Making a decision as regards actions for addressing recognized risks According to directives as mentioned under AUS A24.1 of particular standard ASA 315, arrangements for both ownership and governance have the necessity to be there. The board of directors of the firm along with the ones endowed with governance liabilities can ascertain strategies for assertion for determination of level of risk. Basically, management of the corporation can formulate, execute and supervise efficient system of risk management to implement strategies that are approved by board of directors (Trotman et al. 2015). In addition to this, non-executive directors that are there on the autonomous commission and firms board can assess different incentive plans, taking into account commissions, optional bonuses, and service agreement of firms directors together with sharing of profit. The strong point of particularly internal audit together audit committee can help in autonomous appraising (Auasb.gov.au 2018). Appreciation of significance of internal control According to ASA 315 mentioned in paragraph A 36 to 41, assessor need to understand specific industry segmentation, regulatory along with the external facets together with the applicable structure. In itself, auditor of Woolworths Limited can gain deep insight concerning diverse internal controls relevant to the audit work. Most of firms system of controls that can be implemented to the audit procedure can possibly be associated to financial reporting processes (Soh and Martinov-Bennie 2015). Nonetheless, not all categories of controls that associate to financial reporting are appropriate to process of audit and assessment of financial. Intrinsically, as per directives stipulated under ASA 315, referring to A (42 to 65), it can be considered to be a factor of professional ruling of auditor in which assessor need to assess whether there is particular control, when considered individually or in aggregate and in combination with others relatable to audit processes (Junior et al. 2014). In this regard, the auditor can reflect as regards comprehension of control by gaining clear understanding by analysing whether management with supervising the ones charged with governance has developed and at the same time maintained culture of honesty and ethical conduct (Auasb.gov.au 2018). Risk related to Material misstatement in financial statement Risk of material misstatement indicates towards risk that financial items are wrongly stated to a certain point. Nevertheless, the risk can again be analysed by the auditors at two distinct levels, counting inherent risks along with control risks at the assertion stage. Essentially, inherent risks refer to propensity of financial statements of Woolworths Limited to misstatement caused by either intentional or non-intentional errors before considering different controls (Arens et al. 2015). Contrarily, control risk can be considered to be risk associated to material misstatement that invariably cannot be averted or else detected by firms specific internal controls schemes. As per auditing standard there is necessity to adhere to International Standard for particularly Auditing Standard ISA 260. Essentially, this indicates towards the requirement to communicate to the ones having charges of executing proper company governance issued by International Auditing along with Assurance Standards Board. Woolworths board members are liable to pronounce the outcomes of risk management exercises, besides activities of sovereign provider of assurance (Simnett et al. 2016). Essentially, this assists in maintaining control, particularly financial control and thereby can be regarded to be significant audit matter. The annual pronouncement of the corporation Woolworths Limited reflects that directors as well as board of directors have analysed budget of the complete group together with flow of cash during the year 2016. In addition to this, this report helps in understanding several aspects of insurance of the overall group. Founded on the assessment and background of current financial circumstances along with borrowing facilities, all the directors of the corporation remain fulfilled that this group is a fitting going concern and have continued to presume overall base of going concern throughout the course of preparation along with presentation of annual financial declarations (Simnett et al. 2016). Particularly, this procedure of communicating primarily key audit matters thereby helps administration to appear at suitable judgements, preparation and presentation of pecuniary statements. Analysis of going concern According to dictates stipulated under specific standard of auditing ASA 570 (referring to going concern), in itself there is necessity to mention risk evaluation processes along with associated actions, analysis of managements analysis, phase that is beyond the area of management, additional process of examination at the time when incidents are pinpointed (Arens et al. 2016). The necessities of the regulation ASA 570 also consist of carrying out suitable communication with the ones having responsibility of governance (Auasb.gov.au 2018). Nevertheless, critical assessment of Woolworthss statement replicates that treasury committee of the group was set up in the corporation that can administer treasury actions of the group. In actual fact, this group was accountable to ensure that there exists apt governance of different function. Particularly, groups audit committee presents oversight duties from the stance of Companies Act (Chandler 2014). Primarily, this can be related to the assessors of the firm, schemes of internal control along with relatable legislation, dictates plus actions of governance. In this regard, the entire committee entirely regulated different affairs as instituted and set up in terms of orientation that are periodically analysed and sanctioned by the entire board on an annual basis, aligned to the legislative requirements of the going concern (Auasb.gov.au 2018). The entire working group assessed the entire process of appraisal of the entire going concern of the complete group. Further, the group suggested to the firms board that then entire group can operate as going concern for the estimated future. Essentially, this report recommends that it needs to be solvent and provide forecasted dividend to shareholders. In particular, this declaration can be regarded to be a significant audit matter that has the requirement to be communicated for comprehension of actual financial state of affairs of corporation Woolworths Limited (William Jr et al. 2016). Conclusions In conclusion it can be said that auditors have the need to outline stratagems and consequently assimilate validation to uphold firms administration. Again, plentiful financial declarations are correct within materiality limit. Consequently, for the purpose of expressing these viewpoints, the auditors have the requirement to evaluate present evidences to arrive at conclusions that all material financial statements can be suitably maintained. Primarily, specialized scepticism in financial reporting of the firm Woolworths Limited can restrain auditors judgements and there is validation is necessary to attain the state. Furthermore, principle of mainly accounting is basically prescriptive. On the contrary, the legislations for the purpose of auditing have the necessity to be behavioural since the examinations as well as mechanisms are very much descriptive in form and to a great extent depend solely on auditors judgement/perception. Again, auditors of the firm Woolworths Limited have th e need to be self-governing and oversee diverse clients both in reality along with appearance. Therefore, auditor of the firm has the necessity to be objective and assessors need to assess the validation. Reference: Arens, A.A., Elder, R.J., Beasley, M.S. and Hogan, C.E., 2016.Auditing and assurance services. Pearson. Arens, A.A., Elder, R.J., Beasley, M.S. and Jones, J., 2015.Auditing: The Art and Science of Assurance Engagements. Pearson Canada. Auasb.gov.au. 2018.Auditing and Assurance Standards Board (AUASB) - Home. [online] Available at: https://www.auasb.gov.au [Accessed 16 Jan. 2018]. Carson, E., Fargher, N. and Zhang, Y., 2016. Trends in auditor reporting in Australia: A synthesis and opportunities for research.Australian Accounting Review,26(3), pp.226-242. Chandler, R., 2014. Auditing and assurance.London School of Economics. London. Contessotto, C. and Moroney, R., 2014. The association between audit committee effectiveness and audit risk.Accounting Finance,54(2), pp.393-418. Hay, D., 2015. The frontiers of auditing research.Meditari Accountancy Research,23(2), pp.158-174. Hu, D., 2015. Audit quality and measurement: towards a comprehensive understanding.Academy of Accounting and Financial Studies Journal,19(1), p.209. Junior, R.M., Best, P.J. and Cotter, J., 2014. Sustainability reporting and assurance: A historical analysis on a world-wide phenomenon.Journal of Business Ethics,120(1), pp.1-11. Liao, L., Lin, T.P. and Zhang, Y., 2016. Corporate board and corporate social responsibility assurance: Evidence from China.Journal of Business Ethics, pp.1-15. Simnett, R., Carson, E. and Vanstraelen, A., 2016. International Archival Auditing and Assurance Research: Trends, Methodological Issues, and Opportunities.Auditing: A Journal of Practice Theory,35(3), pp.1-32. Simnett, R., Zhou, S. and Hoang, H., 2016. Assurance and other credibility enhancing mechanisms for integrated reporting. InIntegrated Reporting(pp. 269-286). Palgrave Macmillan UK. Soh, D.S. and Martinov-Bennie, N., 2015. Internal auditors perceptions of their role in environmental, social and governance assurance and consulting.Managerial Auditing Journal,30(1), pp.80-111. Trotman, K.T., Bauer, T.D. and Humphreys, K.A., 2015. Group judgment and decision making in auditing: Past and future research.Accounting, Organizations and Society,47, pp.56-72. William Jr, M., Glover, S. and Prawitt, D., 2016.Auditing and assurance services: A systematic approach. McGraw-Hill Education.