Report in auditing Essay Example | Topics and Well Written Essays - 1250 words

Report in auditing - Essay Example The fact that the external auditors will not be able to physically inspect or examine the audit procedures does not comply with the GAAS (Standards of Field Work, No. 3). This standard explicitly requires the auditor's ability to examine, inspect, observe and confirm the accounting information obtained during the audit procedures. Standard No. 3 of GAAS General Standards requires "mental independence" on the part of the auditor, which might not be fulfilled because the acquiring auditing firm's principal partner is a cousin to TPC's CEO. In this situation, the auditor might not be able to give a free and independent opinion and rather be under significant pressure throughout the process. The last situation is entirely in violation of GAAS Standards of Reporting No. 1. This standard requires that the company's financial statements should be in full compliance with the Generally Accepted Accounting Principles (GAAP). However, according to the aforesaid situation, TPC's accounting records have not been prepared in accordance with the GAAP standards. In order to bring the audit in compliance with the GAAS standards, the first action that should be taken is to provide the auditor complete mental freedom to undertake the audit process and independently obtain the information required to carry out the process. This can be done if the influence of auditor's relative is avoided. Another step which is important to be undertaken is that the auditors should be provided an opportunity to perform physical examination wherever possible. Otherwise the auditor will need to mention his inability to perform physical inspection in the report and reflect this fact in his final opinion to bring the audit in compliance with the GAAS standards. Also any corrections in TPC's accounts and financial recording should be made, where possible, so as to

Defoe's Robinson Crusoe Essay Example | Topics and Well Written Essays - 500 words

Defoe's Robinson Crusoe - Essay Example However, Robinson Crusoe does not heed these warnings and sets out twice more on the sea. The first of these trips is to Brazil (without incident). The second and fateful trip which ultimately lands him on the desert island is the trade mission he engages upon to Guyana in Chapter 5 (Defoe, 1982). Once shipwrecked, without any shelter, dwelling, friends, comrades, family, amenities of a comfortable life, or supplies to speak of, Crusoe comes down with a high fever during a monsoon. This parallel to hubris and the utter humiliation of mankind’s best efforts is a direct parallel to the Greek writers nearly two thousand years prior to Defoe’s Robinson Crusoe. In this way, Crusoe experiences a Job like conversion and understands his hubris; therefore, he confesses his many sins of this life and sets out to read and study the New Testament with a renewed vigor. With the modern connection as it relates to Defoe’s Robinson Crusoe, the most obvious connection is to the film Castaway. Although the obvious connection is both works center around individuals who find themselves alone on a desert island, the parallels are far greater. The fact is that the underlying character development of both Castaway and Robinson Crusoe hinges upon the moment immediately following despair, self-loathing, hopelessness, and contemplations of death when the protagonists realize that this is their moment to define what they will do and how they will survive under difficult circumstances. Robinson Crusoe experiences a high fever accompanied by severe weather and a hallucination in which God speaks to him. On the other hand, Chuck Noland’s epiphany only comes after he opens the â€Å"forbidden fruit† of the FedEx packages washed ashore with him and finds useful items that can aid him in his quest for survival. In this way, both characters experi ence