Auditing and Accouning Ethics Essay Example | Topics and Well Written Essays - 2750 words

Auditing and Accouning Ethics - Essay Example The assertion of independence is at the core of the audit function. It is assumed by shareholders that auditor formulate their opinion on the financial information independently from the influences of the management of their client’s company. In case of Enron auditors are blamed for not giving regards to their professional obligations and maintaining independence. Prior to Enron case external auditors were observed to be highly dependent on their client’s business. They were providing not only audit services but also non-audit services that impaired the quality of audit and it was surely detrimental factor for the perception of auditors’ independence amongst shareholders. Independence that is seen as a form of mental state of auditors needs not only to be practiced but also displayed to shareholders in order to keep their trust and confidence in the opinions furnished by auditors (Lindberg and Beck). Reasonable assurance is related to the planning and performing audit for accumulation of audit evidence that is considered sufficient to suggest that the financial statements are free from material misstatements, errors or even frauds. The reasonable assurance does not imply that the elements of errors or frauds are completely covered but it is based on the understanding that the management provides full access to auditors who then implement different audit techniques to collect sufficient evidence to formulate their opinion. The perception and understanding of reasonable assurance varies significantly amongst different ranks of audit professionals (Law) and it is widely argued that audit cannot provide complete guarantees (Pickett). The audit function is split between internal and external audit. Internal audit is Both internal and external auditors are responsible for ensuring that the financial information prepared by companies’ accountant is in fact in compliance with the accounting standards set out by the regulatory bodies and accounting

Is Interstellar Space Travel Feasible Essay Example | Topics and Well Written Essays - 2000 words

Is Interstellar Space Travel Feasible - Essay Example ose Interstellar space travel has been developed with the help of which the scientists are able to explore the world beyond the realm of the planet Earth. However several questions are now being raised regarding the feasibility of interstellar space travel. In my view interstellar space travel is not a feasible option but on the other hand it is the only option through which the scientists can explore the world. Thus with further development of interstellar space travel the scientists will be able to achieve a feasible way to explore this world. This paper would explain all the aspects of the interstellar space travel and it would come to a conclusion as to if interstellar space is feasible or not. Interstellar space travel can be said to be the use of resources and transports to travel between stars. It can be seen that with the help of several way of transports involved in interstellar space travel one can be able to travel outside the earth and explore the universe. One important way of travelling to the space is by the use of rockets which has proved to be successful in the modern world. It is seen that scientists have been able to discover a lot about the planets and that is not with the help of interstellar space travel but interplanetary travel. In my view interstellar space travel is feasible only with a few changes otherwise it might put risk to several individuals involved in the process of interstellar space travel. It can be seen that travelling through stars is a much more complicated task than to travel from planet to planet. The main problem of travelling between planet to planet and planet to star is the comparative amount of distance between these two. The dis tances of the space are measured in a way through which the speed of a light is first measured. The speed of the light is measured as per the criteria of time so that one can know how much a beam of light can travel for a given set of time. Vacuum can be said to be a space which is devoid of