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Acceptance Or Rejection Of An Audit Client: Understanding Risk In The Auditing Environment
Get PDFIn this case, students are required to conduct an initial assessment of a potential audit client and provide a well-supported recommendation to the audit partner. Specifically, students are assigned a company and asked to gather and evaluate data on it and its upper management. Based on that information, students are to make an objective recommendation to the firm on whether to accept, accept and consider a risk-adjusted audit fee, or reject the client; they are also required to provide the reasoning or argument for the decision. This case has many learning objectives. First, students will demonstrate their research and critical thinking skills and apply those skills by evaluating the information to make a judgment similar to that required of audit professionals. Second, students will create a memorandum that concisely summarizes the obtained information and provide a well-supported recommendation. Third, students will understand and be able to communicate the various types of risk in the business environment. Finally, the case assists students in converting their perspective from that of an accountant to that of an evaluator or auditor. Moreover, the case can be used to introduce professional skepticism and the importance of maintaining objectivity when making a judgment.
The Impact Of PD-LGD Correlation On Expected Loss And Economic Capital
Get PDFThe Basel regulatory credit risk rules for expected losses require banks use downturn loss given default (LGD) estimates because the correlation between the probability of default (PD) and LGD is not captured, even though this has been repeatedly demonstrated by empirical research. A model is examined which captures this correlation using empirically-observed default frequencies and simulated LGD and default data of a loan portfolio. The model is tested under various conditions dictated by input parameters. Having established an estimate of the impact on expected losses, it is speculated that the model be calibrated using banks' own loss data to compensate for the omission of correlation dependence. Because the model relies on observed default frequencies, it could be used to adapt in real time, forcing provisions to be dynamically allocated
Lessons From Transitional Reforms: What Are The Fundamentals For Successful Transformation?
Get PDFAfter more than two decades of enduring global reforms, the current paper makes an attempt to investigate the fundamental prerequisites of a successful reform program. The study is particularly complicated by the ambiguity surrounding the very subject matter. While most scholars are united in the view that in order to facilitate a successful transitional process, transitional economies must execute fundamental grassroots reforms, there is no formally accepted universal blueprint of what is considered to be an acceptable transitional program. In an effort to broaden the scope of the investigation, the author probes into neoclassical economic thinking and examines ‘conventional reform indicators’ commonly associated with successful reforms. But the quest brings the author to the realization that mainstream neoclassical economic thinking by itself is not sufficient; it leaves behind unanswered fundamental questions which—for the sake of methodological and pragmatic necessity—demands resolution. Consequently, the author excavates beneath superficial philosophical thinking, and probes ‘mainstream theories’ for answers to valid problems confronting transitioning economies. The inquiry is not only beneficial for knowledge, but has implications for policy-making. The paper is sectioned into four parts: introduction is an appraisal of conventional thinking; section II examines reform pre-requisites and pragmatic questions; section III is an attempt to suggest answers to questions prompted in section II and rationalize unequal reform outcomes in reforming societies that execute identical reform program; the concluding section synchronously weaves together the different pieces and ideas by drawing attention on the uniqueness of contemporary reforms and lessons learned from past reforms
A Technique For Continuous Evaluation Of Student Performance In Two Different Domains: Structural Engineering And Computer Information Technology
Get PDFStudent access to the Internet has made it much easier for students to find solutions to traditional homework problems online and thereby has made this traditional assessment method of monitoring student progress and gauging the assimilation of knowledge in engineering and technology courses less reliable. This paper presents an in-class, group-based quiz technique where students are quizzed typically on a weekly basis on material presented during the same week in lecture, but before doing any homework. Homework is typically not graded or its impact reduced on its percentage impact on the final class grade, whereas the quizzes are assigned a higher percentage impact on the final grade. Mid-term and final exams are based or derived from the homework assignments. Since students have not usually had any time to study the new material, they can work in groups of typically two or three students and if they get stuck, they have the option of asking the instructor for hints to prevent them from being stuck. Quizzes are graded in real-time during the class and provide the instructor with continuous, week to week, assessment as to a student’s progress. The study found that the use of this quiz technique creates a more interactive experience between students, between the student and the instructor, and reduces the possibility of plagiarism on homework assignments. 
The Human Element Of Project Management
Get PDFMuch research and dialogue have been published about project management. Studies have been conducted regarding the impact of size, member location, gender composition, cross-functional structure, stakeholder influence, confidence issues, technology usage, management style, generational differences, technical expertise vs. people skills, and a myriad of other topics. Writings regarding the human factors, the "soft" skills, have typically focused on the “what is” and “why” elements of communication and conduct appropriate to project management, often leaving the “how to” in subjection or missing. This article provides additional practical applications to improve project management success
Statistical Analysis Of A Class: Monte Carlo And Multiple Imputation Spreadsheet Methods For Estimation And Extrapolation
Get PDFThe Monte Carlo method and related multiple imputation methods are traditionally used in math, physics and science to estimate and analyze data and are now becoming standard tools in analyzing business and financial problems. However, few sources explain the application of the Monte Carlo method for individuals and business professionals who are not immersed in the realm of mathematics or science. This paper introduces these Monte Carlo methods for the non-mathematician and business student, providing examples where the Monte Carlo method is applied when only small samples are available. Statistical analysis and statistically sound extrapolation of sample characteristics to the larger class population can be facilitated by applying Monte Carlo methods and the related concept of multiple imputation, which is also explained. Appendices provide step-by-step instructions for using two popular spreadsheet add-ins to run Monte Carlo based analysis
The Pedagogical And Institutional Impact Of Disruptive Innovations In Distance Business Education
Get PDFThe use of distance learning methods by universities has experienced significant growth over the past two decades. While this growth has been witnessed nearly equally across the various academic disciplines, it represents unique opportunities in business education. In this article we will profile how technological innovations in distance learning have historically caused disruptive changes in business education. The article then profiles three specific distance learning technologies that are emerging as revolutionary forces in changing business education. The impact of these technologies will be examined from both a pedagogical perspective and an institutional perspective. The influence of these educational technologies in addressing the unique needs of business students will also be discussed.
The Determinants Of World Islamic Banks Efficiency: Empirical Analysis Using A Non Parametric Approach
Get PDFThe purpose of this paper is to analyze the efficiency of Islamic banks operating in different countries, over the period 2006-2009.We applied a non-parametric approach, or a Data Envelopment Analysis (DEA), that utilizes both the constant returns to scale (CRS) and the variable returns to scale (VRS) assumptions to offer measures of the technical and scale efficiency. The outcomes reveal a considerable degree of dispersion of technical efficiency between banks within the sample of the year-to-year basis. To inspect the determinants of efficiency, we apply the panel regression analysis. In fact, we used panel regression analysis in order to explain the variation in the dependent variable (calculated efficiencies) by a set of independent variables, such as banks size, asset quality, management capability, liquidity, sensitivity to markets risks, and capitalization.We find that banks with higher liquidity and a good management capability are more likely to operate at higher levels of technical efficiency. In addition, the results show that size, seem to contribute negatively to the evolution of efficiency scores of Islamic banks operating in the world
An Analysis Of Structural Social Capital And The Individual’s Intention To Share Tacit Knowledge Using Reasoned Action Theory
Get PDFThe sharing of tacit knowledge is important and its relationship with the development of social capital in a University of Technology is critical in the construction of a model to support and promote appropriate tacit knowledge sharing behavior. The aim of the study was to examine the relationship between structural social capital and reasoned action theory and the individual’s intention to share tacit knowledge. Structural social capital incorporates strong network ties and a high level of network resources. Specifically, the study examined the relationship strong network ties and a high level of network resources and the individual’s attitude towards sharing tacit knowledge. It further examined the relationship between the individual’s attitude towards tacit knowledge sharing, their perceived norms about tacit knowledge sharing and their intention to share tacit knowledge. The research design was a case study incorporating quantitative research (five hundred and ninety questionnaires). A model of the individual’s intention to share tacit knowledge was developed and evaluated using structural equation modeling. The results indicated that structural social capital positively affects an individual’s attitude towards tacit knowledge sharing and that the individual’s attitude towards tacit knowledge sharing positively affects their intention to share tacit knowledge
Effects Of Voluntary Disclosure Of The Schedule Of Manufacturing Cost On Analysts’ Earnings Forecasts: Evidence From Korea
Get PDFWe provide the effects of voluntary disclosure of the schedule of manufacturing cost on analysts’ earnings forecasts. We set up and analyze the disclosure of the schedule of manufacturing cost as a proxy for voluntary disclosure. Specifically, we examine the associations between voluntary disclosure of it and the accuracy of analysts’ earnings forecasts and bias in earnings forecasts. The results of our study are as follows. First, the relationship between voluntary disclosure of the schedule of manufacturing cost and the accuracy of analysts’ earnings forecasts is significant in the positive (+) direction. This means that the accuracy of analysts’ earnings forecasts is higher in the case of the firms that voluntarily disclosed the schedule of manufacturing cost, as compared to other firms. Second, the relationship between voluntary disclosure of the schedule of manufacturing cost and analysts’ bias in earnings forecasts is significant in the negative (-) direction. This means that analysts underestimate earnings in the case of the firms that voluntarily disclose the schedule of manufacturing cost, as compared to other firms. Since the schedule of manufacturing cost is still an interesting item and useful information in the capital market, the results of our study provide important implications not only to managers, but also to investors and supervisory authority. Limitations of our study include the fact that not all diverse variables that affect voluntary disclosure and analysts’ forecasts are considered.