THE LEGAL REGULATION OF THE EXTERNAL COMPANY AUDITOR IN POST-ENRON SOUTH AFRICA Hannine Drake THESIS PRESENTED IN FULFILMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF LAWS AT THE UNIVERSITY OF STELLENBOSCH Supervisor: Prof A.H. van Wyk March 2009 ii DECLARATION By submitting this thesis electronically, I declare that the entirety of the work contained therein is my own, original work, that I am the owner of the copyright thereof (unless to the extent explicitly otherwise
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with its merits and demerits? Ans 1.Collecting data by mailing questionnaire methods is quite popular, particularly in case of big enquiries. It is being adopted by private individuals, research workers, private and public organizations and even by Government organizations. In this method a questionnaire is sent usually by post to the persons concerned with a request to answer the questions and return the questionnaire. A questionnaire consists of a number of questions printed or typed in a definite
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Week Five Discussion Question 1 What components do you think are most important in a communication plan? What are the advantages of a formalized communication plan? What might happen if a consultant does not establish a communication plan with a client? In my opinion, the most important components in a communication plan consist of the measurable goals and objectives. The measurable goals are meant to express the end points towards the direct effortsof the project. The business consultant's communication
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Question 1 – Enron Case: A. Fixed volume at fixed price. – Production companies who use the natural gas as a material in producing their final product. By fixing the price, they insure themselves from increasing prices and can forecast and meet their budgeted costs as well as budgeted profit margins. B. Fixed volume at price tied to a natural gas index. – Speculators who will engage in risky financial transactions in an attempt to profit from fluctuations in the market value of
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PricewaterhouseCoopers Competitor Intelligence Report MGD 426HF Professor Tim Richardson Gabriela Rojas 998288160 Thursday, October 16th, 2014 Description of the business sector within which this enterprise operates: PricewaterhouseCoopers is an international professional services network that provides industry focused assurance, auditing, consulting and tax services for a variety of companies with the majority of their revenue coming from business to business relationships. The firm was
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Instructor’s Manual—Chapter 1 CHAPTER 1 Introduction 1.1 The Objective of This Book 1.2 Some Historical Perspective 1.3 A Note on Ethical Behaviour 1.4 The Complexity of Information in Financial Accounting and Reporting 1.5 The Role of Accounting Research 1.6 The Importance of Information Asymmetry 1.7 The Fundamental Problem of Financial Accounting Theory 1.8 Regulation as a Reaction to the Fundamental Problem 1.9 The Organization of This Book
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Corporate governance Why study governance? -Failure of companies -Loneliness -Efficiency -Stakeholders 1. Definitions and Evolution of the cultural and legal environment * Way of sharing the power between management and shareholders. * Corporate governance is a set of legal, regulatory or practical provisions defining the scope of the power and responsibilities of those responsible for directing the company sustainably. Directing the company means taking and controlling
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Generally Accepted Auditing Standards Paper Name Institution Generally Accepted Auditing Standards Paper Recently, the need for enhanced auditing regulations has increased. This has been orchestrated by the demand from the public for an increase in the regulation of corporate accounting. In particular, following a number of scandals that have befallen major companies leading to their bankruptcy, investors
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BUS560 Module 2: Organizational Ethics BUS560 Module 2: Organizational Ethics Check Your Understanding 1. Consider the functional departments reviewed in chapter 3. Which department do you think faces the greatest number of ethical challenges? Why? It would seem that the finance or bookkeeping department of any company faces the greatest number of ethical challenges because the opportunity to manipulate the accounting and misrepresent or otherwise take money from the company is ‘ever-present
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most frequently debated areas amongst auditors, politicians, media, regulators and the public is where the fraud is coming from and by whom. This disagreement has been especially tinted by the collapse of big corporations like Enron and WorldCom. The unforeseen fall of Enron and WorldCom traumatized the world as both of these companies received clean bills of health from their auditors immediately prior to their for bankruptcy. Type of fraud Fraud itself comprises a large variety of activities and
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