...he United States Food and Drug Administration (FDA) is a regulatory body vetted by the US Federal Government. It is responsible for securing the safety of its citizens and livestock in the realm of consumables like food, medicines, chemicals and all of their biological delivery methods. The FDA charter, by default, makes it intimately tied to various industrial and economic entities within the United States. Since the United States is the principal world leader in economics, the FDA is often viewed as the most efficient, thorough, and authoritative food and drug organization in the world. While the US FDA oversees the majority of food and medical innovation internationally, it is not the only world class regulatory department actively engaged in the safety of the world’s population. Comparable government committees throughout the industrialized world have matching, if not higher, standards than the US FDA. Without the “red tape” associated with...
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...of this review is to examine the scholarly evidence on earnings management to help standard setters and regulatory agencies assess the degree of earnings management and the integrity of financial reporting and to identify future opportunities for future research on earnings management. Through the examination of earnings management, standard setters can determine the degree of earnings management use and if investors, creditors, or regulatory bodies are being deceived. There can be major consequences if the previously mentioned people and bodies are misled. Investors rely heavily on financial information from a company’s management. If this information is misleading, a lot of money can be lost. Another group that relies on the integrity of a company is creditors. Creditors can be liable for the loss of capital if a company goes into bankruptcy and the creditor bases everything (interest rates, money borrowed) off of the financial position of a company. Financial misrepresentation can have a major effect on these financial institutions. Regulatory agencies are also affected by earnings management and can be deceived by companies that are trying to dodge industry regulations, have regulations changed, or seek industry relief. REVIEW/BACKGROUND The major issues examined in this review include: tests of earnings management incentives, contracting motivations, regulatory motivations, and tests of distribution of reported earnings and accruals. Tests of earnings management incentives...
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...1.0 Introduction Telecommunication is very important in the social and economic empowered both for developed and developing countries. The government must be able to promote growth of vibrant telecom sector. However, most of the governments seek to come up with methods of ensuring that there is an independent telecoms regulator. Communication infrastructure reforms are a concept which enables operators to offer quality services. Infrastructure sharing is one of the reforms that can take place. It refers to the ability of operators to share networks or the ability of one party building communication infrastructure that will lease to other providers. Communication infrastructure can be done in fixed, mobile and broadcasting networks, and it is one of the best options of bringing reforms and best practices by bringing competitors in the industry to collaborate with an aim of lowering the cost and increasing their capital. It is also a method of reducing the risk of proliferating network deployment. There can be active or passive communication infrastructure sharing. In active sharing, the active network and components are shared by the operators. The regulator is aimed at providing clear directions towards achievement of national and regional development goals. This paper looks at the reforms of three countries, Czech Republic, Botswana and Liberia. The historical perspectives of how reforms have been achieved will the area of concern in this review. 2.0 Czech Republic ...
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...sustainabilty can be interpreted in many ways. According to other Country Reports, Germany, Canada and the United Kingdom don't have a seperate check for 'sustainability' either, only it is written less blatently due to the different authors involved in the reports. What is initially peculiar about this is that all four countries were awarded a score of at least 7 out of 10 for the criteria of sustainability checks despite none of them actually having a seperate check. This is because the scores are derived from the quality of each country's regulatory impact assessment (RIA) which assess a regulation’s impacts on socioeconomic and other indicators; according to the SGI codebook, a strong RIA "analyses consistently involve stakeholders by means of consultation or collaboration, results are transparently communicated to the public and assessments are effectively evaluated by an independent body on a regular basis" ( p57 Codebook, 2014). RIAs can include cost assesments of social, economic and environmental issues, thus implying that a seperate check is not necessary as it is already included in the RIA, as stated in the US 2014 country report "one could argue the U.S. regulatory impact assessment process...
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...EGT1 Task 3 There are four major pieces of antitrust laws passes the Sherman Act of 1890, the Clayton Act of 1914, the Federal Trade Commission Act of 1914, and the Celler-Kefauver Act of 1950. The Sherman Act of 1890 prohibited the conspiracy to restrain trade or commerce, it also made it illegal to monopolize and part of trade or commerce. The Clayton Act of 1914 outlawed price discrimination, the tying of contracts, the acquisition of stocks from a competing company, and the formation of interlocking directorates. The Federal Trade Commission Act of 1914 which established a five member commission which had authority from the U.S. Justice Department to enforce the antitrust laws and investigate firms for compliance. The Celler-Kefauver Act prohibits a firm from buying stock from a competing company with the goal of merging with that company. An oligopoly market is where there are a few large producers of a product or service. Since there are only a few companies competing in an oligopolists market any type of change that one company does will directly affect one of or all the other companies. A monopoly is where a single company is the only producer of that product or service where there are no substitutes. Industrial regulation affects companies who are an oligopoly in many ways because the company has to be very careful how it inters acts with the companies in the same market, since there are only a few other companies competing in their market. These companies...
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...co-ordination, formulation and maintenance of the standards of university education, framing regulations on minimum standards of education, Determining standards of teaching, Examination and research in universities, Monitoring developments in the field of collegiate and university education, Disbursing grants to universities and colleges, Setting up common facilities, services and programs for a group of universities in the form of Inter-University Centers but there are lots of issues (negative performances) are related with UGC’s performance for these National Commission for Higher Education & Research (NCHER – A national over-arching regulatory body in higher education), Rashtriya Uchchatar Shiksha Abhiyan (RUSA) and demand of CBSC have been aroused. This article will highlight the issues related to cause of emerged of alternative body of UGC in India. Key Words: NCHER, RUSA, CBSC, UGC. 1. PREAMBLE The University Grants Commission (UGC) of India is a statutory organization set up by the Union government in 1956, charged with coordination, determination and maintenance of standards of university education. It provides recognition to universities in India, and disburses funds to such recognized universities and colleges. Prof. Ved Prakash, a noted academician and education administrator, is the incumbent Chairman of UGC, India....
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...Conformity Assessment Elements for all IVDD The major elements of a conformity assessment system are: * A quality management system (QMS) * A postmarket surveillance system (PMS) * Summary technical documentation * A Declaration of Conformity * Registration of manufacturers and their IVD medical devices with the regulatory authority. **Conformity: A declaration by the IVDD manufacturer that the device is safe and performs as intended. Ref: Regulatory Affairs Professional Society; Fundamentals of International Regulatory Affairs, Second edition Conclusion: Every country has variations in the way IVDD is being regulated. With different classifications, regulatory body etc. I would recommend you to decide on a few specific countries which would be the potential market for your device (within Latin America) and then you will be able to narrow your research on its regulatory pathway. There are some common elements that comprise the approval process and required submission documentation for medical device approval in many Latin American countries. These include: * A Technical File or Report similar to a CE Technical File (technical description, device safety test results, biocompatibility data, labeling, etc). The required amount and type of information varies depending on the country. * A Certificate of Free Sale (CFS) issued by the public health authority in the country of origin, whichdemonstrates that the device is cleared for sale in the US...
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...What are the benefits of international financial reforting standards since thier adaption at the beginnng of the 21st? essay EXECUTIVE SUMMARY International Financial reporting Standards IFRS as a recent accounting phenomenon has drawn the attentions of Accountant, financial institutions and financial managers, multinational companies, government, financial regulatory institutions and in all the participants in capital market. This research is aim at examining the benefits of IFRS as against the present realities in the 21st century. In this work , review of literatures was carried out to ascertain the reasons for the adoption of IFRS, comparison were also made between existing US GAAP and IFRS using SWOT analysis in order to establish efficiency over other national GAAP. And from the report we can see that the usefulness of internationally recognized standard cannot be over emphasized as it cuts across all the spheres of the economy. Like the capital market, investors, globally etc. The research also established the improvement that IFRS upheld through its transparency, transactional cost reduction and reduction in complexity of financial statement. This is due to multiplicity of standards, although some weaknesses were encountered in the use of the standard. These include that the standard is principled based which makes it difficult to be compared with the other standards. We have also analysed the need for enforcement of the standard so that it will be same globally. There...
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...1. Introduction The telecommunications sector in Malaysia has undergone significant physical and structural transformation in the past fifteen years. Between 1985 and 2000, the country’s telephone penetration rate rose by 540 per cent. Equally importantly, privatization and liberalization of the sector in the 1980s ushered in an era of regulatory reforms and competition in the sector. The market structure as well as the regulatory framework and institutions for the telecommunications sector continue to evolve. The real challenge lies in what to do after that – putting in place adequate regulatory framework and institutions that will ensure industry growth as well as protect consumer welfare. The on-going micro-regulatory reforms in the sector seek to fine-tune the regulatory mechanisms in the sector. This paper reviews the recent history and development of the telecommunications sector in Malaysia. Section 2 provides a brief historical account of the sector and the current structure of the sector. This is followed by a discussion on regulatory reforms in Section 3. Section 4 examines the impact of reforms in the telecommunications sector. Section 5 concludes by discussing the future policy agenda for the sector. 2. EVOLUTION OF INDUSTRY STRUCTURE 2.1. Physical Expansion The infrastructure sector plays a key role in Malaysia’s economic growth and development. The sector’s share of development expenditure in the various five-years plans implemented...
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...Assignment On Financial Analysis & Control Submitted To: Umme Hanna Airin Ara Acting Head of Finance Department of Business Administration Stamford University Bangladesh Submitted By: Md.Nazmul Hasan ID: BBA 031 11119 BATCH: 31(P) Program: BBA Course Title: Financial Analysis & Control Course Code: FIN- 434 Stamford University Bangladesh Date of submission: 17th November, 2011 The Demand for financial Statement Information: * Introduction Financial statement is the product of a diverse set of demand and supply forces. Financial statement information is needed to facilitate decision making to facilitate the monitoring of management or to interpret contracts or agreement that includes provisions based on such information. Parties demanding financial statement information A. Shareholders, Investors and Security Analysts: Shareholders and other investors of corporation these parties range from individuals with relatively limited resources to large, well endowed institutions such as insurance companies and mutual funds. These decision made by the parties include not only which shares to day retain, or sell, but also the timing of the purchases or sales of those shares. In an investment focus, the emphasis is on choosing a portfolio of securities that is consistent with the preferences of the investor for risk, return, dividend yield, liquidity and so on. In that...
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...|[pic] |Syllabus | | |School of Business | | |ACC/280 Version 5 | | |Principles of Accounting | Copyright © 2011, 2010, 2009, 2008 by University of Phoenix. All rights reserved. Course Description This course covers the fundamentals of financial accounting as well as the identification, measurement, and reporting of the financial effects of economic events on the enterprise. Financial information is examined from the perspective of effective management decision making with special emphasis on the planning and controlling responsibilities of practicing managers. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at...
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...as well as chemical medicaments and biotechnology. The 21st century has brought about changes within the pharmaceutical industry. The pharmaceutical industry today is highly competitive non-assembled global industry. To define the non-assembled aspect of the industry is where manufactures components parts or materials are relied on for example glass, woodwork and chemicals. It was in the sixties and seventies that the pharmaceutical industry was to expand rapidly as it was a period referred to as the spending boom. Research and development (R and D) was also a major investment and trust which was provided for Universities and education institutions. Pencillin which was the major discovery in the pharmaceutical industry in the 40’s, which led to research and development in the 50’s becoming firmly established in the industry the seventies, saw many remarkable changes within the pharmaceutical industry with tighter regulatory controls being enforced within the industry. This could be seen in the way generics were to be manufactured, generics are medicines that are manufactured after patent expiry date by...
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...Better Regulation for Growth Regulatory Quality and Competition Policy Investment Climate Advisory Services of the World Bank Group With funding from FIAS, the multi-donor investment climate advisory service in partnership with BETTER REGULATION FOR GROWTH GOVERNANCE FRAMEWORKS AND TOOLS FOR EFFECTIVE REGULATORY REFORM REGULATORY QUALITY AND COMPETITION POLICY INVESTMENT CLIMATE ADVISORY SERVICES WORLD BANK GROUP ©2010 The World Bank Group 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org All rights reserved Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The World Bank encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone: 978-750-8400; fax: 978-750-4470; Internet: www.copyright.com. All other queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2422; e-mail: pubrights@worldbank.org. About the Investment Climate Advisory Services of the World Bank Group The Investment Climate...
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...been put in place to stop corruption and bribery. I will then go on to give examples of major corruption and bribery scandals that companies have recently been in and what has been done to punish said companies for their crime. Intro Corruption is defined in the Merriam-Webster Dictionary as “dishonest or illegal behavior especially by powerful people (such as government officials or police officers), the act of corrupting someone or something, and something that has been changed from its original form”. (Merriam-Webster) Bribery is defined as “something valuable (such as money) that is given in order to get someone to do something”. (Merriam-Webster). A bribe can be from person to person, company to company, or even country to country and it is considered a crime in most parts of the world. Many would agree that there is a lot of bribery and corruption in modern day politics as well as International companies, but I will not be going into that for it is another huge topic. “Bribery and corruption are major obstacles to socio-economic development and distort national and international economic relations.” (IBE) This corruption is seen as an unfair advantage for companies with a lot of money to throw away to get what they want and is considered very unethical in the eyes of lawmakers. In order to fight against corruption, “…nation states and international bodies have drawn up regulatory frameworks to help fight corrupt practices.” (IBE) International Frameworks and Regulations ...
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...Williams-Garner September 17, 2012 HCS/451 Health Quality Management and Outcomes Analysis Jodie Sapaugh Health care as an industry exists to serve its stakeholders in the safest, most effective and efficient manner; but each organization type and company function differently. Organizations share some similar functionalities and regulatory requirements that provide a path for them to follow. The regulatory requirements demand compliance and a standard performance level creating a need for specialized monitoring and accreditation to support quality improvement on numerous levels. Communication is a key component of the process an organization has adopted to maintain compliance, meet standards and regulatory requirements, and maintain the company’s vision and mission. The process commands the role of risk-management to supervise safety functions and quality-management to supervise the stakeholder satisfaction with the services provided in all aspects. Differences and similarities in functionality for each organization or company runs parallel in the goal of safety and satisfaction through monitoring, improving, and communicating to meet regulatory and compliance requirement standards. Similarities and Differences These organizations share many similarities and yet there are differences amongst the five types of organizations chosen; hospitals, emergency services, assisted daily living, home health care, and diagnostics or laboratory facilities. Let us take two, the difference...
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