The Auditor and Fraud Essay Example

The Auditor and Fraud Essay EXPLAIN THE RESPECTIVE ROLES AND RESPONSIBILITIES OF MANAGEMENT AND AUDITORS IN THE PREVENTION AND DETECTION OF FRAUD. The primary responsibility for fraud detection lies with management. This arises due to a contractual duty of care. Directors are able to discharge their duty toward prevention and detection of fraud and error in many ways, for example: * Complying with the Combined Code on Corporate Governance * Developing a code of conduct, monitoring compliance and taking action against breaches * Emphasising a strong commitment to fraud prevention. This involves establishing a culture of honesty and ethical behaviour within the organisation with clearly communicated policies. * Establishing an internal audit function * Having an audit committee The role of the auditor is with assessing the effectiveness of the internal controls. Auditors should appraise the risk of misstatements due to errors and fraud. The role of the auditor in the detection of fraud is appraised within case law, for example: Re Kingston Cotton Mill (1896) – An auditor â€Å"is a watchdog not a bloodhound†. According to Melville (2007), this judgement set the tone for the audit profession for a century. Auditors were to be passive checkers rather than be proactive in searching out errors, misstatements and fraud. This statement may no longer have the force it once did in the light of ISA 240 The Auditor’s Responsibility to Consider Fraud in an Audit of Financial Statements. Auditor’s are now expected to recognise at least the possibility that fraud may exist and, consequently, adopt an attitude of professional scepticism in their approach to audit work. Re Thomas Gerrard Son (1968) highlighted the negligence of auditor in overlooking fraudulent activities committed by directors. We will write a custom essay sample on The Auditor and Fraud specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Auditor and Fraud specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Auditor and Fraud specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Auditors relied on stock certificates given to them by the managing director, a person who they trusted. This was supported by the decision in Re Kingston Cotton Mill whereby an auditor is ‘justified in believing tried servants of the company in whom confidence is placed by the company’. It was held that their responsibility was to investigate the matter fully once their suspicions had been aroused. If they had done so, the fraud would have been revealed. This is supported by the content of ISA 240 which requires auditors to follow up anomalies. Once suspicions have been aroused, tests designed specifically and uniquely to detect and establish the extent of fraud will be performed. Auditor’s should plan and conduct their audit tests to limit the possibility that material fraud and irregularities go undetected. Certain assets such as cash are more susceptible to fraud than others and audit planning should take account of this. Tests are mainly carried out due to the need to assess whether a matter is material before reporting it. If the matte proves to be material, it should be first reported to management (unless management are implicated in the fraudulent activity themselves). Auditors cannot guarantee the detection of all frauds and errors because they are not able to spend the time searching for frauds as they only analyse a sample. A guarantee cannot be made as auditors provide an opinion. IDENTIFY AND DISCUSS BOTH THE ORGANISATIONAL AND PERSONAL FACTORS WHICH MIGHT CONTRIBUTE TO AN ENVIRONMENT WHERE FRAUD IS MORE LIKELY TO OCCUR. The integrity of the individual and whether they seem to have a strong sense of ethics. Although a difficult characteristic to assess, the behaviour of individuals and their opinions on issues may provide important evidence to assist the auditors in assessing this characteristic. Personal integrity may well be a key if not the most important factor in keeping a person from committing fraud. There are many cases in which individuals with severe financial or personal pressures and the opportunity to engage in fraudulent activity do not do so because they have a strong personal moral code. Some fraud investigators believe that a strong moral code can prevent individuals from using rationalisations to justify illicit behaviour. Typical rationalisations include: I am only borrowing the money and will pay it back Nobody will get hurt (perception of fraud as â€Å"victimless† crime The company treats me unfairly and owes me Its only temporary until my financial position improves Everybody’s at it!! The extent to which individuals appear to be motivated by greed. Again, a difficult characteristic to assess but the individual’s concern with money and consumer goods may provide some clues about this. If someone starts turning up to work in a brand new Ferrari, they may have won the lottery, or benefited from the demise of a loving relative, or they could be up to no good!! The degree of loyalty exhibited by an individual. If the individual has been with one firm a long time, this may indicate a certain level of satisfaction with their employment and perhaps reduce the likelihood of them committing fraud. You should, however, also be aware that experienced employees, because they are trusted, might have a greater opportunity to commit fraud. Ernst Young Survey (2000) found that nearly half of the employees who defrauded their firms had been employed for over five years. Also bear in mind that opportunities to commit fraud can arise when an employee reaches a level of trust in an organisation or when internal controls are weak or nonexistent. Then the employee if he or she is so motivated will perceive that there is an opportunity to commit fraud, conceal it, and attempt to avoid detection and punishment Also, recent research undertaken by the Wharton School at the University of Pennsylvania suggests that in order to make it to the top ranks of corporate management you of course have to be very self-assured, but this can turn into overconfidence which can lead you to â€Å"cross the line† and commit fraud. For example, a senior manager believes that his firm is experiencing only a bad quarter or patch of bad luck. He believes it is in the best interests of everyone involved – management, employees, customers, creditors and shareholders to cover up the problem in the short term so that these constituents do not misinterpret the current poor performance as a sign of the future. In addition, he is convinced that down the road the company will make up for the current period of poor performance. It is the optimistic executive or overconfident executive who is more likely to have these beliefs. May stretch the rules a little or engage in earnings management ploys, but what if things don’t turn around as expected? Then he has to make up for the prior period and that requires continuing fraudulent behaviour. There appears to be a belief that overly optimistic executives can turn their firms around before fraudulent behaviour catches up with them, at least according to the US research. Jordan (2002) as cited in Quirke (2008) reaffirms this attitude by quoting a communist era Czech axiom â€Å"If you do not steal from the state, you rob your family† Antonio Birritella; â€Å"All these funds from the EU were seen as a gift to the Mafia, easy pickings†

History of Yugoslavia - Overview

History of Yugoslavia - Overview Location of Yugoslavia Yugoslavia was located in the Balkan region of Europe, to the east of Italy. The Origins of Yugoslavia There have been three federations of Balkan nations called Yugoslavia. The first originated in the aftermath of the Balkan Wars and World War One. At the end of the nineteenth century, the two empires which previously dominated the region – Austria-Hungary and the Ottomans – began to undergo changes and retreats respectively, sparking discussion among intellectuals and political leaders about the creation of a united South Slav nation. The question of who would dominate this was a matter of contention, be it a Greater Serbia or a Greater Croatia. The origins of Yugoslavia may partly lay in the Illyrian Movement of the mid-nineteenth century. As World War I raged in 1914, the Yugoslav Committee was formed in Rome by Balkan exiles in order to come up with and agitate for a solution to a key question: what states would be created if the Allies of Britain, France and Serbia managed to defeat the Austro-Hungarians, especially as Serbia looked on the verge of destruction. In 1915 the committee moved to London, where it had an effect on allied politicians far greater than its size. Although funded by Serbian money, the committee – comprised mainly of Slovenes and Croats – was against a Greater Serbia, and argued for an equal union, although they conceded that as Serbia was the state which did exist, and which had the apparatus for government, the new South Slav state would have to coalesce around it. In 1917, a rival South Slav group formed from deputies in the Austro-Hungarian government, who argued for a union of Croats, Slovenes, and Serbs in a newly reworked, and federated, Austrian led empire. The Serbs and the Yugoslav Committee then went further, signing an agreement to push for the creation of an independent Kingdom of Serbs, Croats and Slovenes under the Serb kings, including land currently in Austria-Hungary. As the latter collapsed under the pressures of war, A National Council of Serbs, Croats, and Slovenes was declared to rule Austria-Hungary’s former Slavs, and this pushed for a union with Serbia. This decision was taken in no small part to rid the area of marauding bands of Italians, deserters and Habsburg troops. The Allies agreed to the creation of a combined South Slav state and basically told the rival groups to form one. Negotiations followed, in which the National Council gave in to Serbia and the Yugoslav Committee, allowing Prince Aleksander to declare the Kingdom of Serbs, Croats, and Slovenes on December 1st, 1918. At this point, the devastated and disjointed region was only held together by the army, and bitter rivalry had to be damped down before borders were set, a new government was formed in 1921, and a new constitution was voted in (although the latter only just occurred after many deputies walked out in opposition.) In addition, in 1919 the Communist party of Yugoslavia formed, which received a large number of votes, refused to join the chamber, committed assassinations and got itself banned. The First Kingdom Ten years of political infighting between the many different parties followed, largely because the kingdom was dominated by Serbs, who had expanded their governing structures to run it, rather than by anything new. Consequently, King Aleksander I shut the parliament and created a royal dictatorship. He renamed the country Yugoslavia, (literally ‘Land of the South Slavs’) and created new regional divisions to try and negate the growing nationalist rivalries. Alexander was assassinated on October 9th, 1934 while visiting Paris, by an Ustasha affiliate. This left Yugoslavia governed by a regency for the eleven-year-old Crown Prince Petar. War and the Second Yugoslavia This first Yugoslavia lasted until the Second World War when Axis forces invaded in 1941. The Regency had been moving closer to Hitler, but an anti-Nazi coup brought the government down and the wrath of Germany onto them. War ensued, but not one as simple as pro-Axis versus anti-Axis, as communist, nationalist, royalist, fascist and other factions all fought in what was effectively a civil war. The three key groups were the fascist Utsasha, the royalist Chetniks and the communist Partisans. As the Second World War was concluded it was the Partisans lead by Tito – backed at the end by Red Army units - who emerged in control, and a second Yugoslavia was formed: this was a federation of six republics, each supposedly equal – Croatia, Bosnia and Herzegovina, Serbia, Slovenia, Macedonia, and Montenegro - as well as two autonomous provinces within Serbia: Kosovo and Vojvodina. Once the war was won, mass executions and purges targeted collaborators and enemy fighters. Tito’s state was initially highly centralized and allied to the USSR, and Tito and Stalin argued, but the former survived and forged his own path, devolving power and gaining assistance from western powers. He was, if not universally regarded, then at least for a time admired for the way Yugoslavia was progressing, but it was Western aid – designed to keep him away from Russia – that probably saved the country. The political history of the Second Yugoslavia is basically a struggle between the centralized government and the demands for devolved powers for the member units, a balancing act that produced three constitutions and multiple changes over the period. By the time of Tito’s death, Yugoslavia was essentially hollow, with deep economic problems and barely concealed nationalisms, all held together by the cult of Tito’s personality and the party. Yugoslavia may well have collapsed under him had he lived. War and the Third Yugoslavia Throughout his rule, Tito had to tie the federation together against growing nationalism. After his death, these forces began to increase rapidly and tore Yugoslavia apart. As Slobodan Milosevic took control first of Serbia and then the collapsing Yugoslavia’s military, dreaming of a Greater Serbia, Slovenia and Croatia declared their independence to escape him. Yugoslav and Serbian military attacks in Slovenia failed quickly, but the war was more protracted in Croatia, and longer still in Bosnia after it also declared independence. The bloody wars, filled with ethnic cleansing, were mostly over by the end of 1995, leaving Serbia and Montenegro as a rump Yugoslavia. There was war again in 1999 as Kosovo agitated for independence, and a change in leadership in 2000, when Milosevic was finally removed from power, saw Yugoslavia gain wider international acceptance again. With Europe afraid that a Montenegrin push for independence would cause a new war, leaders produced a new federation plan, resulting in the dissolution of what remained of Yugoslavia and the creation of ‘Serbia and Montenegro’. The country had ceased to exist. Key People from the History of Yugoslavia King Alexander / Aleksander I 1888 - 1934Born to the King of Serbia, Alexander lived some of his youth in exile before leading Serbia as regent during World War 1. He was key in declaring the Kingdom of the Serbs, Croats, and Slovenes, becoming king in 1921. However, years of frustration at the political infighting made him declare a dictatorship in early 1929, creating Yugoslavia. He tried to bind the disparate groups in his country together but was assassinated while visiting France in 1934. Josip Broz Tito 1892 – 1980Tito led the communist partisans fighting in Yugoslavia during World War 2 and emerged as the leader of the new second Yugoslavian federation. He held the country together and was notable for differing markedly with the USSR, which dominated the other communist nations of Eastern Europe. After his death, nationalism tore Yugoslavia apart.

Biology and Ecosystems Education Admission/Application Essay

Biology and Ecosystems Education The paper "Biology and Ecosystems Education" is an outstanding example of an application/admission essay on English. The environment in which we live, the uniqueness of different creatures across diverse ecosystems, as well as, how a man gets along with them has been a question that has always fascinated me. The way in which the environment and ecosystem relate to the future of humankind has always been an intriguing subject for me. When I joined a junior school that was my first experience with nature and interaction with human life. It was here that I noticed I had an affinity for the environment and animals. Nothing excites me more than seeing plants and animals behaving the same way as I have learned in the classroom. Immediately, I get the urge to share what I know and observe with people around me, feeling that they need to realize and appreciate the wonders of nature around us. I usually feel in these situations that man has forgotten the wonders of nature in his pursuit for p rofit and wealth.Understanding the environment and ecosystems has aroused curiosity in me and taught me to view the world from a new point of view. This passion has propelled me to chose NYU and focus on biology. It is my belief that this will be the best institution to conduct experiments in biology, as well as to learn how to conduct research with regards to the ecosystem. In high school, I built up my knowledge of different ecosystems through my work with the wildlife club and cleaning up beach land. Three years of high school have firmed up my determination to pursue biology, and it is my belief that NYU is the best institution to do this. With the advanced opportunities of research and the working partnerships between NYU and other universities around the world, I believe that I can improve my knowledge in biology and ecosystems greatly. Thank you.

Real estate national overview Essay Example | Topics and Well Written Essays - 750 words

Real estate national overview - Essay Example In addition to, France hosts a number of NATO agencies, which play a significant role in the development of the group. France is an active part of the modernization process of NATO military (Milligan, 14). The state of the national economy of France is that it is stagnating. It is evident through growth, unemployment, and national debt. According to statistics, the economy of France will hit the European Union budget shortage of 2007 (Murphy, 8). The French believes that an intervention can bring the situation under control. The French president believes that an expansive fiscal policy is essential in dealing with the French economy. France has a GDP of $35700 in comparison to other nations in the region (Boyer, Berend & Haba, 19). The economy of France has expanded its horizons when relating various sectors of the economy. The central government has privatized most large companies in France to allow other stakeholders help the nation to develop. On the contrary, the government maintains to play a significant role in some sectors of the economy. The government manages to hold a majority of the shares in industries such power, transport and defense system. France has at least 82 million foreign tourists annually, and it is the most visited country in the world. France leaders are capitalists, and they have maintained a social equity through laws and policies. The unemployment rate in 2008 rose from 7.8% to 10.8% in 2013(Boyer, Berend & Haba, 19). Despite the slow rate of growth in France, the borrowing rate reduced significantly and attracted investors to the country. The demand for housing in France rose due to the massive demand for houses. The increase in interest rates increased the demand for houses in the nation. The availability of long mortgages has encouraged the demand for houses in France. The financial crisis caused a drop in housing projects in France. In comparisons with other countries, there are many similarities when it

The Internal Assessment Essay Example | Topics and Well Written Essays - 500 words

The Internal Assessment - Essay Example Service spending showed a modest rebound in the later parts of the year. The core inflation declined in the year 2013 to as low as almost full percentage point below the Board of Governors of Federal Reserve System’s long term target. The Board of Governors of Federal Reserve System’s long term target was at 2%. The bank also experienced an increase in US household net worth in the year 2013. There was an approximate growth of 12% in the home prices in the year 2013. However, signs of deceleration were seen in the final parts of the year. The treasury yield also experienced a rise over the course of the year despite the speculations that the Federal Reserve would adjust their pace of purchasing mortgage backed securities. Despite the fact that there was a federal government shutdown in the month of October, there was very minimal impact on the performance of the economy of the United States of America. the federal reserve made an announcement that it will reduce its security purchases in the year 2014. However, they had no intentions of raising the federal fund rates unless the employment rate had reaches the 6.5% threshold. Non-interest expense experienced a decrease from $2.9 billion to $69.2 billion. With relation to the project New BAC, which was first introduced during the third quarter of 2011, the bank continued to get cost saving in some noninterest expense categories (Adrien, Anderson, Garden, Lusthaus and MontalvaÃŒ n 89). This helped them in the process of streamlining their workforce. The bank expects the total savings from this project to get to $12 billion by the year 2015. $1.5 billion per quarter of the same has already been realized by the year 2014. The bank’s effective tax rate for 2013 was driven by their recurring tax preference items and by some tax benefits relating to non-U.S. operations, including additional tax benefits from the 2012 non- U.S. restructurings. These benefits were partially offset by the $1.1 billion

Positivism Theory Essay Example for Free

Positivism Theory Essay Positivism, (also referred to as ‘empiricism’) is often used to indicate that this approach to understanding criminality is scientific. The term positivism (or in its more sophisticated form Logical Positivism) is often used to refer to an approach that asserts it utilizes science or the scientific method (their version of science) to understand the causes of criminality and thus the solutions to solving it. Positivism is an epistemological position or a theory of knowledge which assets that science is based upon theories that have been induced from and only from empirical evidence or the evidence of the senses (hence the term ‘empirical’ or that which can be experienced by the senses). Positivists reject any evidence that cannot be objectively experienced or observed such as that derived from tradition, faith, magic, religion, philosophy or any other form of knowledge or belief that does not have an empirical basis. Thus they want to explain criminal behaviour by reference to causes that can be observed or measured. Causes have to be material and observable – biological positivists look at biological observables such as anatomical abnormalities, identifiable genetic or gene patterns, bodily movements etc. Psychological positivists will also look at biological observables but will add behavioural factors, child rearing practices and brain abnormalities that cause identifiable behaviour outcomes. Many modern scientists have virtually discredited positivism in favour of what we call the hypothetico-deductionist approach or a falsficationist approach. This approach begins with theoretical conjectures (or hypotheses) and then seeks to prove or disprove them by means of empirical evidence. However, whatever the differences in method both positivism and hypothetico-deductionism seek empirical evidence for their theoretical positions. Implicit in these approaches is the idea that the scientist is an objective disinterested observer of natural events with no preconceptions about them. In the case of physics these natural events or laws are said to be found in nature itself as, for example, in the study of such phenomena as the movement of the planets around the Sun, the effect of gravity on the tides and the phenomenon of the seasons created by the movement of the Earth around the Sun. In these cases the object of study is seen as governed by universal natural laws which the scientist has to discover. When this approach is applied in the human or social sciences we have to understand our object of study (i. e. human beings or societies) as also governed or regulated by rules that the scientist has to discover. Thus Biological Criminologists will use data from such sources as twin studies, family studies, genetic patterns, biochemical aspects and so on anything that can be studied by means of objective’, methods and which may throw up some biological explanation of that behaviour or a principle or a law that explains that behaviour. It follows that in positivist criminality, criminals are identified as certain kinds Of human beings who are governed by events or natural phenomena that have been set in place by something external to them and, in a sense, beyond their control. Thus criminals do not make decisions about their criminal behaviour they are, as it were, caused to behave in this way by factors that operate in a sense, behind their backs. Thus, so-called abstract views of human nature such as that they are rational and use reason in making choices about their actions have to be discarded as a cause of behaviour in favour of non-rational causes such as determination by such things as biological inheritance or forms of social conditioning or, in many cases, a combination of both (as in Eysenck). Positivists aim is to identify those with criminal tendencies or those already classified as criminals and use them as their data base. Their goal is to ascertain what has caused their criminality and then to look for ways of correcting such criminality or, even better, to ascertain those with tendencies for criminality (before hopefully they commit a crime) and to put some preventative measures in place. Biological positivists generally look for biological causes generally in genetic inheritance. A well know example is that of Klinenfelters Syndrome where a study of known criminals identified was said to be an extra y chromosome.

Floridian Lifestyle at the Crab Shack :: Descriptive Essay About A Place

Floridian Lifestyle at Pinchers’ Crab Shack Nestled between a dilapidated pet shop and a mass-produced chain store lies Pinchers’ Crab Shack, a local dive of free spirits in the wilds of the stubborn and pompous Naples area. As Jimmy Buffett’s â€Å"Margaritaville† blares from a weathered jukebox nestled next to cases of unopened beer in a corner, the various smells of salt, frying foods, and vinegar assaults one’s senses. It is here in this atmosphere that Florida is truly found. Pinchers’ is a true haven of Floridian atmosphere. Whether the canopy of inflatable parrots and rafts or the walls of island memorabilia ranging from autographs to record covers to pictures of fish, Pinchers’ welcomes the diner with a flare of Caribbean leisure and pleasure. The style remains very familiar, from the open kitchen where chefs concoct the food before the patrons to the paper-bag coverings flung over the tables. Drinks come in jars, napkins are found in the form of paper towels situated next to the tables, and salt is found within a beer bottle. This is truly a welcoming restaurant which calls to the deepest senses of salt, sand, and seawater located in the depths of the soul. While at Pinchers’, be sure to sample several of the magnificent dishes. First and foremost are the fried clams, deeply fried strips of clam which dwarf a human finger. If one is not in the mood for fried food, try the King Crab Legs, an enormous rack of crab’s legs smothered in a rich butter sauce; not only is the crab delicious, but it is interactive as one gets to smash the legs to get to the meat. If simple seafood is what one craves, go for the scallops, richly broiled in a wine sauce leaving the mouth craving more. Last, finish the dinner with a piece of Key Lime Pie, the traditional dessert of Florida and the best pie found this side of Key West. This wonderful dive truly shows the natural Floridian lifestyle. The waitresses in tank tops and shorts serve with a smile while the bar welcomes patrons wearing everything from traditional suits to Hawaiian tee shirts to bathing suits.

Dr. Strangelove

653 Throughout Dr. Strangelove, there are examples of a variety of leaders and leadership styles or lack thereof. A majority of the characters in this movie obviously have a difficult time being effective leaders. It is apparent from the beginning of the movie, particularly the scene where Mandrake enters Rippers office. There are obvious issues with his Rippers mental capabilities. Ripper, because of his position, at some point must have been an excellent leader, appears to have lost his sense of reality and become paranoid. This became clear when he convinced himself that the Russians had infiltrated the water system, which are the causing him ill effects. Because of his delusions and paranoia, Ripper put his country at risk of a disaster confirming that he is incapable of still leading. On the other hand, Mandrake appears to be a sufficient leader and makes every attempt to reassure Ripper and try to obtain the code to stop an unnecessary attack on the Soviet Union. Throughout the movie, Mandrake appears to be the most competent leader and in the end confirms this by deciphering a code that prevented all but one of the bombings. Buck Turgidson sees himself throughout Dr. Strangelove as a superior officer and leader. Proven repeatedly through the movie Turgidson exhibits an enormous ego and has a questionable sense of leadership. He seems more occupied with his personal life and his paranoid beliefs of the Soviet Union than leading his saving his own country. The president in this film, Merkin Muffley, is an interesting portrayal of a United States President. Muffley shows no exceptional leadership skills but does seem to have the ability to make his own decisions. However, there are points while in the war room that make his leadership skills questionable. The conversations between the president and Dmitri Kissof, for instance, definitely show a submissive side of Muffley. However, he does seem to redeem himself in several scenes when making appropriate decisions in effort to halt the bombings. Col. ‘Bat' Guano appears to be a strong leader and commander. During the scene of Mandrakes capture the colonel is forceful however shows the skill to accommodate Mandrake. This is apparent when the Colonel fires upon the soda machine to assist Mandrake in acquiring enough change to contact the president. A leader like this is an asset in any situation, especially this one. Soviet premier Dmitri Kissof is a humorous portrayal of any type of leader. Kissof, portrayed to be a drunken leader, is more interested in his personal amusement rather than leading his country. During the scene where the president is speaking to Kissof, it becomes apparent that instead of ruling his country, he is enjoying a party and listening to loud music. While pilot Maj. T. J. Kong is not one of the main leaders in Dr. Strangelove however, he is an imperative leader. His leadership skills are far superior compared to a greater part of other leaders in this movie. Examples of his superior skills, exhibited in the last few scenes, Major Kong risks his life to repair the bomb doors in his plane, resulting in his riding the bomb to the ground for detonation. Finally, Dr. Strange-love is not particularly a leader but more of an information source. Although it is apparent through the few scenes he appears, that at one time, he was an important asset to the Nazi’s and some sort of scientist but now was an important source of information regarding the doomsday device. In the end, the few good quality leaders were essential in the successful return of all but one bomber. Unfortunately, this last bomber also had a great leader who was determined to complete his mission, and succeeded in his bomb detonating. Dr. Strangelove certainly reveals different leaders and the detrimental effects poor leadership can result in. Works Cited Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb. Screenplay by Stanley Kubrick. Dir. Stanley Kubrick. 1963. Columbia Pictures, 2004. DVD

Simon from Lord of the Flies

In all humans, there is some form of evil. This theme is expressed throughout the novel of Lord of the Flies. The only character to realize this is Simon. In William Golding’s novel Lord of the Flies, nature resembles the unfortunate events to come and the character, Simon, foreshadows these events. When Simon is introduced in the beginning of the story, he is fainting. Physical weakness becomes a hallmark of his character, from passing out to throwing up, to hallucinations and bloody noses.Although he might lack a strong physical appearance, he shows others he is intelligent by the large words he uses throughout the book. Simon is the main character who tries to hold on to civilization. He has a conversation with Ralph in the beginning of the book claiming that they will get rescued. This is the beginning of Simon starting to foreshadow events. Throughout the novel multiple instances occur where a kid will say that they will get rescued. Littluns are usually the ones that whi ne about they are hungry and thirsty and wanting to know when they are going to get rescued.Eventually they do get rescued but Simon is killed accidentally and never gets to leave the island. Simon is also the boys’ last hope of retaining civilization. Throughout the book the boys lose civilization and become savages. Simon, Ralph, and piggy try to maintain their selves and help others remain civilized. To me it seemed that Jack left Ralph’s Group and created his own group because he accepted savagery and didn’t want be part of civilization anymore. Eventually this change turns for the worst of the group and actually kills Simon.Simon is a nature boy. He is constantly in a clearing in the woods watching the stars and being alone. At one time that he goes to the clearing he encounters the â€Å"Lord of the Flies†, which begins to talk to him (143). This is one of his hallucinations, but he believes it to be real. The Lord of the Flies tells him that he wan ts to have fun with him soon, and he better tell Ralph and Piggy that the beast isn’t real and isn’t an actual object, but is actually the boys instead.The Lord of the Flies tells Simon this because it is actually Simon indirectly foreshadowing an event to happen that the beast inside them will kill themselves. After Simon’s talk to the Lord of the Flies he faints because of the humidity. Once he wakes up a storm forms in the distance and clouds begin to cover the sky. The weather is mimicking Simon’s actions to happen. Simon begins to travel to tell the boys that the beast isn’t real; meanwhile the boys are chanting and dancing around a fire.In all of the excitement Simon is mistaken as a beast and is jabbed with spears and eventually killed. While he is in the process of being murdered, a storm is raging with lightening and thunder booming in the background. In multiple instances, Simon is foreshadowing events. He has talks about his death before it happens and predicts that they will be rescued. The weather also foreshadowed events that happened such as a storm happening at the same time a death happened: two tragic, dark events. These corresponding events display Simon as a nature boy, one with the island.

Turkish Politics essays

Turkish Politics essays Turkey is an important state in the world, placed 16th according to her population among 185 countries, 32nd according to expanse of territory and 16th as regards economic strength. Turkey also occupies an important geo-political and geo-strategic position in the Middle East and the Caspian Basin, which has the greatest oil reserves in the world; the Mediterranean Basin; the Black Sea Basin and the Turkish Straits, which have always maintained their importance in history; and in the Balkans, which have undergone considerable changes following the disintegration of the Soviet Union (USSR) and Yugoslavia. Turkey is situated very near the Caucasus and Central Asia, and located at the crossroads to three continents. Turkish history can be characterized a struggle between the forces of absolutism and reform. In 1914, the country became embroiled in World War I on the side of Germany. After Turkey ended the war on the losing side, most of the remaining Ottoman possessions came under British and French control with the support of the newly-formed League of Nations (forerunner of the United Nations). Defeated and discredited, the Ottoman dynasty was overthrown in 1923 by a revolutionary movement led by Mustafa Kemal - better known as Ataturk - who established a single-party republic and laid the foundations of modern Turkey. The Treaty of Svres (1920), which liquidated the Ottoman Empire, provided for the creation of an autonomous Kurdish state. Because of Turkey's military revival under Kemal Atatrk, however, the Treaty of Lausanne (1923), which superseded Svres, failed to mention the creation of a Kurdish nation. Revolts by the Kurds of Turkey in 1925 and 1930 were forcibly quelled. Later (193738) aerial bombardment, poison gas, and artillery shelling of Kurdish strongholds by the government resulted in the slaughter of many thousands of Turkey's Kurds. The Kurds in Iran also rebelled during the 1920s, and a...

Economics _ Whither the Dollar Essay Example | Topics and Well Written Essays - 1250 words

Economics _ Whither the Dollar - Essay Example Both see the necessity for international cooperation in determining currency exchange rates under appropriate circumstances and both provide the ability to alter exchange rates under certain circumstances. However, they also recognize the destructive aftermath of freely flexible exchanges on international trade and economic relations generally, and their chief purpose is to create and maintain a system of stable exchange rates. And yet, the Keynes’ system had some radical ideas that went completely contrary to White's conservative plan. Unlike White's theory, where member-countries would deposit their currencies, and together with the government fund then provide the currencies needed by each country for settling its international account, the Keynes’ plan provides an international clearing, where no funds are deposited. Instead, international payment would be effected by debiting the paying country and crediting the receiving country on the books of the union. (The Key nes’ and White Plans) Keynes proposed the establishment of: an International Clearing Union, based on international bank money, called (let us say) bancor , ?xed (but not unalterably) in terms of gold and accepted as the equivalent of gold by the British Commonwealth and the United States and all members of the Union for the purpose of settling international balances. (Keynes, 1980, p.121) The basic idea is simple. Countries would have accounts that would play the same role as reserves, (mainly gold in the early 20th century) and dollars or other foreign exchange currencies. With the account at the International Clearing Union countries do not have to shore up these reserves. They are free to take a loan from the International Clearing Union in times of need and lend if they export more than they import. The de?ation bias caused by trapped reserves, which cannot turn into meaningful demand, would disappear. To prevent accumulation credits or debits Keynes also suggested some measures so in the long run the system self-balance itself. The outcome of the negotiations was the new Bratton Woods system. This system incorporated points, where both plans agreed. Yet, because of the USA's greater negotiating strength, the final decisions of the new system were closer to the conservative plans of Harry Dexter White. According to US economist Brad DeLong, on almost every point where Keynes’ ideas were canceled by the Americans, he was later proved correct by events of history. The Primary Real Causes of the Financial Crisis of 2008 According to the article â€Å"Whither the Dollar† by Katherine Sciacchitano, there are a few reasons and events, which triggered the beginning stages of the financial crisis of 2008. The first is the elimination of capital control. This deepened economic stability in many ways: - It made it easier for capital to search for the lowest possible wages; - It increased the political power of capital by enabling it to â€Å"v ote with its feet† - It fed asset bubbles, increased financial speculation and exchange rate bounce. This increased unregulated capital mobility and speculation weakened the real economy, further exhausted global demand and increased economic instability. As we can see from history, from the eighties on up in countries all around the world an economic crises have occurred about every five years. Another reason of the 2008

Cash rate, loan rate, equity funding Essay Example | Topics and Well Written Essays - 1000 words

Cash rate, loan rate, equity funding - Essay Example This can be attributed to the increased cost of debt funding for the major banks in Australia. Study of major banks’ fund composition shows that the banks are shifting their focus towards deposits and long term borrowings more and there has been a decline in share of short term debt in banks funding. Amongst others, higher deposit rates have contributed significantly towards increase in debt funding costs for banks. Although the share of equity has also increased in the banks’ funding composition but it has not contributed much towards changes in housing loan rates, since they are less risky. Until recently, in 2011, the spread between standard housing loan rate and cash rate has reduced by about 10 basis points due to the increase in discounts offered by the banks on new mortgages, but it’s only a small reduction compared to the overall spread. Table of Contents Table of Contents 3 Widening of the spread between the major-banks standard variable housing loan rat e and the RBA’s cash rate since 2007 4 RBA’s Cash Rate 4 Variable Housing Loan Rate and Cash Rate 4 Composition of Banks’ Funding 5 Cost of Debt and Equity Funding 5 Pricing for Risk and Banks’ Housing Loan Rates 6 Conclusion 6 List of Graphs 7 References 10 Bibliography 12 Widening of the spread between the major-banks standard variable housing loan rate and the RBA’s cash rate since 2007 RBA’s Cash Rate The key objective of RBA’s monetary policy is to lower the inflation rate, targeting around 2 to 3%. Other objectives of RBA’s monetary policy include low unemployment rate and maintaining a stable growth of Australian economy. Cash rate is the primary tool which is used by RBA to regulate the monetary policy in the country. It increases target cash rate when the inflation pressure is in excess of the RBA’s target and it decreases the target cash rate when the economy can grow at a faster rate without creating any infla tion problem (Lowe, 1995, p. 3-15). If we look at the history of RBA’s cash rate, it can be inferred that there has been a steady increase in cash rate from 2007 till mid 2008, which was the beginning of Global Financial Crisis (GFC). Then there was a sharp decline in cash rate during the period of mid 2008 till April, 2009. The cash rate was as low as 3% and continued to be so till September, 2009. Since October, 2009, there had been a steady increase in cash rate (Graph 1). Until recently there had been minor cuts in cash rate and is at 4.25%, as of today (RBA, n.d.). Variable Housing Loan Rate and Cash Rate The trend of standard variable housing loan rates is believed to follow the trend of cash rate. It is so because the household cost of funds are driven by the cash rate. If we compare the standard variable housing loan rate with cash rate, we find an overall strong correlation between these two rates over the years but with some anomalies in between (Graph 2). If we wat ch closely, it can be found that there has been an increasing spread between the major bank’s standard variable housing loan rate and the cash rate since 2007. This increase in variable housing loan rate by major banks relative to the cash rate can be attributed to the increase in bank’s cost of debt funding. In addition to this, higher equity funding costs and increase in expected losses have also attributed to this widening of spread between the two rates. Until recently, in 2011, the spread has reduced by about 10