The Lack of an internal audit department in a company called Mawarid Research Paper

The Lack of an internal audit department in a company called Mawarid Islamic finance in the UAE - Research Paper Example In accordance with the issues discussed in the paper Mawarid Finance’s strategy focuses on supporting and developing the national economy through the provision of Islamic financial services and products for small and medium enterprises (SMEs), which form the backbone of a nation’s economy, to enable them to develop, grow stronger and faster. The organization specializes in developing Shariah complaint economical or financial services. It provides eMurabaha that allows its clients to buy the goods offline or online; financing for the purchase of the items; letter of guarantee covering bib; online labor guarantees, and advance payment bonds, together with guarantees for the retention monies, customs duty, labor, home financing, maintenance. Moreover, it offers vehicle and property financing for people, and different services to the corporate sector, which include working capital, assets, deposits, trading activities and financing projects. Mawarid Finance is the only UAEà ¢â‚¬â„¢s financial institution that is absolutely independent. However, in an attempt to ensuring that it hands itself operational independence, we find that the distribution of its shares has been done across over three hundred and fifty shareholders, whereby organizations or even companies own less than five percent each of the capital there is no stake of an individual shareholder that is more than two and half percent. (English 54). Problem Statement: Lack of internal auditors has appeared as one of the fundamental factors that have led to misappropriation of funds in several companies and organizations. That is why several companies and organizations have adopted it to help in bringing accountability, so that each money spent can be accounted for. Background and Significance: Internal auditors play a very crucial role in the corporate governance of their organizations, financial reporting processes, analysis of risk management and internal control structure. During the last dec ade, they actively offered management with assurance and consulting services to help in conformity with the laws like the 2002 U.S. Sarbanes-Oxley. The internal audit resources have also seen expansion for the purposes of satisfying the increasing demand for the services to facilitate financial report and internal control’s executive certifications. In the future years, it might be expected of the internal auditors to broaden their role to responsibilities such as the improvement of risk management, reduction of organizational costs and complexity, and participation in the development of governance and strategic processes. For instance, the rules of Proxy Disclosure Enhancements of the United States Securities and Exchange Commission to reveal their governance measures, which include the structure of their board, the board’s supervision of risk management as well as its relationship with the executive practices and policies of compensation. The new proxy rules will act ually exert pressure or compel the boards to show their role in the supervision of risk management, and further, this presents both opportunities and challenges for the CAEs (chief audit executives) and their

Soldier's home Essay Example | Topics and Well Written Essays - 750 words

Soldier's home - Essay Example t at social gatherings, "he fell into the easy pose of the old soldier among other soldiers: that he had been badly, sickeningly frightened all the time." (Hemingway 153). Unlike, ordinary peoples conception of home as a secure and safe haven, Krebs home is a soldiers home where he is always on the alert for the unexpected; he is frightened all the time; and he has learned to not to believe in anything. His lifes associations are not the beautiful girls, belief in God, honor, work, friendship or love for ones family. Instead, he believed in these elements as instruments to survival and diversions. In the picture of himself with a corporal and two German girls for instance, indicates that they have been acquaintances who had passed sometimes with him but do not have any significant meanings. Krebs disillusionment of his hometown and people stems from his post at Belleau Wood, Soissons, the Shampagne, St. Mihiel and the Argonne, where the battles had been the most fierce and bloody. These battles have had a deep impact on Krebs yet he is reluctant to talk about them. This is partly because people in Kansas already "had heard too many atrocity stories to be thrilled by actualities" and partly because these experiences have more value to him than his audience. He has found lying to make himself heard by his hometown too demeaning, and hence have been unwilling to degrade his memory and experience of war. Instead, Krebs has assumed a secluded lifestyle so that he does not have to encounter such situations when he had to lie about his war experiences. He avoids active socialization with the community whether through work or interaction with women. He finds that to get involved in any of these socialization processes, he would have to lie and lying is too complicated for him. He feels that untruth and exaggeration would eradicate his memory of the war, which is his actual reality. For him his hometown and its people are the enchantment which he had taken to the war and

Strategic management case study-skf case Essay Example | Topics and Well Written Essays - 3000 words

Strategic management case study-skf case - Essay Example At such a point in time when the world has become a global village, and when companies need to put extra efforts to get noticed by the customer, it is important for a company to stay focused. SKF, the company which is the focus of this report, needs to maintain a consistency strategy when it comes to the future and what it aims to do with respect to the new decision that it has to make. SKF needs to maintain the strategy that they have been using till now, that is, to price their product at a premium price and play on value based selling, that is, they have designed and developed their product so well that it comes out to be one of the best in the industry and the perception that they have created in the eyes of the consumer is that of a premium product which cannot be easily replicated by any other company. It is important for companies to follow such a strategy in this clutter filled world, and where product differentiation can only be done in perceptions, and not in reality. SKF is thinking of changing its value based strategy to the strategy where it will compete on price and cater to the markets where price is an important factor. This will be a very wrong strategy for SKF, since till now, they have been premium priced and price was never a factor that they even considered. Customers came to SKF when they wanted true value for whatever money that they give. There will be value that will be reflected in the products that they receive. It was a win-win situation for both the consumers and the SKF Company. But this decision to change the strategy to compete on price would take the organization into a wrong direction, and they need to correct themselves as soon as possible. One of the first things that they need to remember is that there should be consistency in the strategy of a company, especially when the strategy has helped the company build the brand name that it has, and has helped it secure the

Victorian society Essay Example for Free

Victorian society Essay The Importance of Being Earnest, subtitled, A Trivial Comedy for Serious People is a comedy of manners whereby Oscar Wilde rebukes the Victorian aristocracy for their social issues that seemingly prioritise the most trivial of things such as style and appearance above those of true significance such as. Wilde further achieves this by incorporating elements such as farce and melodrama in order to highlight their senseless main concerns. Wilde portrays the act of â€Å"Being Earnest† as being in opposing to its definition as having features of dishonesty and false morality, with one of the main characters Algernon stating that â€Å"The truth is rarely pure and never simple†. Wilde’s first satirical attack in the play is marriage. Algernon is shown to perceive marriage to be a business deal as opposed to the projected illusion of it as described in the play as being based on mutual feelings of love (evidence – Ceclily or Gwendolen). This is evidenced by Algernon’s sharply comical and paradoxical epigrams in response to his best friend Jack Worthing’s admittance of wanting to propose to Algernon’s own ward Gwendolen he states: â€Å"I thought you had come up for pleasure? I call that business. † Wilde is seemingly satirising concept of marriage presenting it to be a legal contract between consenting families of similar social class and fortunes; Baxley comments â€Å"Wilde shows us how the upper class does not marry for love or happiness but for convenience and social standing†. )Algernon views marriage in an unorthodox way, unlike the expectations of modern day now. He views it as a disease, one that to be bearable needs an escape: â€Å"Nothing will induce me to part with Bunbury, and if you ever get married†¦ you will be very glad to know Bunbury. A man who marries without knowing Bunbury has a very tedious time of it. † ‘Bunbury’ (who is he) is a direct metaphor for Algernon’s deceit and escape from social expectation. He is a fictitious person; one that Algernon suggests is needed in general life but indeed emphasises that this is the case most particularly when one is married. Algernon disregards Jack’s confidence that once he finds love he will no longer needs a ‘Bunbury’[a]. On one level the exchange merely is a continuation of the long running marriage gag of the Victorian notion of â€Å"marriage bliss† in an era where the English aristocracy was dominant and superior, and far removed even from the British middle class. This would in turn amplify the humorous situation through Wilde’s blatant social criticism-through the ‘Bunbury’ double entendre to the middle class audience in particular. Nevertheless, it also brings to light a darker subtext, one were Algernon insinuates that all husbands in Victorian society have and need a ‘Bunbury’ thus satirising the moral values by highlighting the fact that aristocratic meaning as long as they kept within the appearance of propriety, they could lead a double life and avoid responsibility but still keep upmost respect from society. Consequently, Oscar Wilde satirises duty and respectability simultaneously with the notion of marriage in Victorian society by demeaning their importance. Wilde could be said to be suggesting that their ‘duty’ is a pun (with reference to the title of the play) and in fact the aristocracy duty is more so simply a title that entails a need for pity as opposed to awe. Perhaps this is purposely done as such a suggestion to a Victorian audience would have been deemed an outrageous concept even to the extent of offence but is accepted due to the comedic light-heartedness and infantile manner in which it is presented; through Algernon’s unrealistic approach to life and love. His ignorance and foolishness, contributes to the satirical nature of the play but yet in keeping with the comedy genre due to the melodramatic and foolish aspects of his character for example: â€Å"She will place me next Mary Farquhar, who always flirts with her husband across the dinner-table. That is not very pleasant The amount of women in London who flirt with their own husbands is perfectly scandalous. It looks so bad. It is simply washing one’s clean linen in public†. This statement highlights the fact that Algernon recoils at the very thing that society values. His offence that the women he will be seated with flirt only with their husband and no one else evidences this. The importance of marriage instead is subverted and can be seen as simply a stipulation and social expectation that comes with the responsibilities of being in the upper class a view, which is seen as trivial and unimportant as the characters mainly view marriage as a social tool.

Court Experience Essay -- essays research papers

Court Experience   Ã‚  Ã‚  Ã‚  Ã‚  I went to the court session on Wednesday afternoon at 2:00 and stayed until around 4:35. They did not start court though until a little after 2. Before court started everyone was talking to each other and having a good time. There was only one other person in the courtroom besides myself watching the trial and that person was also from this class.   Ã‚  Ã‚  Ã‚  Ã‚  When court resumed the lawyers were trying to agree to certain things concerning the trial before the jury came back in. Since I had not seen the beginning of this trial, I had no idea who was suing whom or what was going on. Finally after they had got those things ironed out and a map set up, the jury was finally called back into the courtroom for closing arguments.   Ã‚  Ã‚  Ã‚  Ã‚  To give the basics that I picked up from closing arguments was that Guge who owns the Exxon on 105 extension was wanting more money from the state for some property that they were confiscating for construction. The state was offering around $60,000 and he wants $300,000. The lawyer for Guge went first. He went on forever it seemed like. It was over an hour that he went on talking. Some of the jurors were falling asleep as well as the judge while he was speaking. It seems that he could have been more concise with his argument. Pretty bad when even the judge nods off. The judge even got up and left during part of the closing arguments.   Ã‚  Ã‚  Ã‚  &nbs...

Personal Paper on Euthanasia Essay

A life is ending. Losing a life is tragic enough within its own right. Euthanasia appears to be the best option for a patient. Though the family and patient have suffered immensely, they must continue to suffer mentally and physically through the passive euthanasia process. This particular patient’s death was tragic and slow. The body had broken down, and only a shadow of who the person once was laid in bed as the last breath was taken. If another form of euthanasia, called active euthanasia had been legal, a large amount of pain and suffering could have been spared. If passive euthanasia is legal, then active euthanasia should be legal too. Passive Euthanasia, is when a physician determines that death is unavoidably close, that rather than prolong suffering, to stop whatever treatment is keeping the patient alive. An example would be, if a person is being kept alive by a machine that breathes for them, a decision is made to turn off the machine, indirectly ending the person’s life. Also, there are many cases that are not as simple as that. Often times, passive euthanasia can be performed on a conscious person. If a person is alive, but barely capable of living, a tube that feeds the patient is removed. This leads to the patient starving to death, which led to the patient dying in great pain. My father was diagnosed with terminal colo-rectal cancer, and instead of trying surgeries that would lengthen his life by a few months, he chose not to. My father was passively euthanized. He died a much different man that I have known my whole life. He, once a large burly man had lost around a hundred pounds, and was bedridden. All of his muscles were slowly disintegrating because of atrophy since he was unable to get out of bed. He was in major pain despite the medication he was given, and in the last month of his life the cancer had gone into the blood and to his brain, making him hallucinate,

Mankind Is No Island

Mankind is No Island Focus: The collection of Still Images Sound Not a lot of dialogue Montage of images – together they make an image The words shown are from signs, street signs and shop signs etc. What makes this film visual What is specifically visual about it What makes the video shape my perspective of the situation What is the purpose of the video being made? – To be more aware of the homeless Ideas: There is a lack of giving to the homeless The homeless are taken for granted The homeless are ignored by society It is filmed in the city because it demonstrates advertising and also emphasizes consumerism. Used to contradict or to challenge what they are to present in the cities. The homeless are destitute and deprived from the necessities of life. Techniuqes Soft dramatic piano music is used The music sets the tone. It also makes the audience depressed and feel guilty. Camera angles are placed in the same level as the homeless. This is used to place the audience in the homeless peoples situation and position. By doing this, the audience feels the hardships, the sadness and the uselessness as the homeless have also felt. Repetition of the images of the homeless being ignored Rhetorical Questions are also used to make the audience feel depressed and reflect on their guilt. RQ's are also used to make audience reflect Repetitions of RQ's Religious images Repetition of â€Å"NO† Close up of the Homeless Face – Shows their facial expressions. Also indicates their sadness and their depression. Shows their rugged appearance. Take away the homeless identity and places the audience to look at them face to face as humans. Demonstrates how old they look. Also supports that being homeless ages you. The homeless have literally been forced to live a life of desperation. The homeless have no choices. The fact that two of the largest cities are used symbolises and supports the idea that homeless people are not found in a particular place, but are recognised everywhere. Repetition of â€Å"your† emphasizes that the homeless and the successful are no different. They may be different in social class but they are still the same in species. The images are also negative and focus the negative sides of the city. The sentences are also in a first person register RQ's is used to challenge and contradict on what we love The Heart Balloon –