Frankenstein Literary Analysis - Free Essay Example

Sample details Pages: 4 Words: 1242 Downloads: 9 Date added: 2019/04/04 Category Literature Essay Level High school Tags: Frankenstein Essay Did you like this example? The novel Frankenstein was written by Mary Shelley in the 1800s. The story is about a doctor, Frankenstein, and his hideous creation. The basis of the novel is to show the development of the character of the Creature, and to show how Nature versus Nurture affects Frankensteins creation. Don’t waste time! Our writers will create an original "Frankenstein Literary Analysis" essay for you Create order Most readers start reading with the idea that Frankensteins monster is a horrid being and deserved to be shunned from society, but after reading the novel, individuals realize the Creature is not actually a monster. Even though the novel Frankenstein is in the genre of Gothic Horror, the monster does not fit any of the classical horror archetypes, and is not actually a monster at all. The archetypes of horror based characters include; the intelligent, sinister monster, the animalistic beast, the tragic character, and the madmen. The intelligent monster is the most evil, they can outsmart humans and want only to kill those it hunts, but is also patient and confident enough to kill anyone. They know what they are doing and why they do it. The animalistic beast, on the other hand, only follows its instincts. They do not know what they are doing, nor why they do it, but they feel like they have to. The tragic character is like a slave to another being, and must carry out evil actions against their will. The madmen are normal humans who have been afflicted by a mental illness or some sort of trauma, and are the mad scientists of films. Frankensteins monster does not seem to fit any of these archetypes. The closest match is the animalistic beast, because in the beginning, the monster does not know what he is doing, and why he does it. However, the animalistic beast usually stays this way throughout the novel, and the Creature did not. He grew to realize that his animalistic urges were not a necessity, and developed to be more civilized, and not a monster at all. The Creature is most like the animalistic beast at the beginning of the story when he murders Victors brother in the middle of the night. ?Frankenstein! you belong to my enemyto him towards whom I have sworn eternal revenge; you shall be my first victim,'(Frankenstein 126). He does this because he wants to hurt Victor for abandoning him, and does not know how to do that more than murdering his youngest brother. As the novel continues and the Creature develops as a character, he changes and is no longer the animalistic beast. He begins to think about his decisions and actions, and realizes that he does not want to hurt anyone, and he would rather be loved than feared. He comes across a family in a cottage and begins to adapt to the human way of life. He studies their language and sees the aspects that make the humans kind and appealing. However, when he goes to confront the humans and ask for their love and acceptance, he gets rejected by the younger humans and beaten until he flees from the house. Who can describe their horror and consternation on beholding me? Agatha fainted; and Safie, unable to attend to her friends, rushed out of the cottage. Felix darted forward, and with supernatural force tore me from his father, to whose knees I clung: in a transport of fury, he dashed me to the ground and struck me violently with a stick,(Frankenstein 120). He did nothing to defend himself, even though he could have destroyed the humans. He did not act upon his instincts and kill for the sport of it. I could have torn him limb from limb, as the lion rends the antelope. But my heart sunk within me as with bitter sickness, and I refrained, (Frankenstein 120). This shows he is no longer a beast because he acted rationally, not just immediately killing them because he felt threatened, and he did not allow his instincts to rise and take over. Frankensteins monster does not follow any of the other horror archetypes either. The Creature is not the intelligent, sinister monster because he does not kill for the fun of it, and his only murder in the story is not premeditated. The sinister monster is also very human-like. Frankensteins monster is not human and does not look human, hence why he is shunned by those who encounter him. He goes out of his way to save a little girl, and the sinister monster would not do that. She continued her course along the precipitous sides of the river, when suddenly her foot slipt, and she fell into the rapid stream. I rushed from my hiding-place; and, with extreme labour from the force of the current, saved her, and dragged her to shore,(Frankenstein 125). An example of the sinister monster would be the clown It from the Steven King novel, It. This character murders because it is fun and must murder in order to survive. The Creature is not like this at all, and this is present throughout the r est of the novel. The Creature does not follow the tragic character either. The tragic monster is described as the character that follows the orders of another, more evil character, and does not actually want to be evil. The Creature is not controlled by anyone, and has his own free will. He is only evil at the beginning, when he is following his own will. He is not forced to murder Victors youngest brother, and acted upon his own instincts. The ?mad men archetype does not represent the Creature either. The mad men archetype describes the mad scientists of the story. Victor fits this archetype more closely. He becomes affected by mental illness and stays in his apartment, researching anatomy and creating life through science, until he makes a breakthrough. He finally creates life, creating the Creature, then abandons him because Victor believes the Creature will be violent and is the most hideous being that had ever been created. Frankensteins monster did not fall victim to mental illness that caused him to act irrationally or with evil intent. Throughout the novel, Frankensteins monster develops and grows into a very human-like being, even thought he was created through the use of dead body parts, and being shunned by his own creator while he is in the first stages of development. The Creature starts off as being most like the ?animalistic beast classical horror archetype, and ends as a fully developed, mature human. He does not fit any of the horror character archetypes, even though he was like the beast in the first few chapters. He is not the intelligent, sinister monster because he is not evil by heart, and does not kill for fun. He is not the animalistic beast because he does not act on his instincts after his character and mind develops, and he goes out of his way to save people, and he realized the difference between right and wrong, and he discovers his own morals. He is not the mad man archetype because he is not overcome by any sort of mental illness, and does not do as Victor did, and fall into complete madness and abandon all humanity and humility. Thus, it is easy to say that Frankensteins monster is not actually a monster at all, and is simply misunderstood, and it is Victor who is the true monster, considering he fits most if not all four of the classical horror character archetypes.

Curriculum, Quality and Professionalism - 2696 Words

Curriculum, Quality and Professionalism Introduction In this report I will explain the purpose and design of the curriculum proposal. I will then review the feedback obtained from the validating panel and the changes made. Professional values will also be explained and the importance they have in the lifelong learning sector. In addition, I will explain how the course will be evaluated providing a summary of how records are currently being used. Finally, I will create an action plan highlighting development needs to the course design. Curriculum Design- Independent Living Skills The course was designed for students in the second year of college and is set over a period of 15 weeks with 2 hour sessions. The aim of this course is to provide students with the necessary life skills needed for life after college. This course also provides students with the skills and abilities to live independently. As many first year students at university drop out due to academic and sometimes financial issues, this course helps to tackle some of these problems. The course discusses how to find a place to live at university, remain safe, keep personal items safe and how to interact and make friends at university which leads to the summative assessment of a come dine with me theme. In addition the course covers health and fitness, the importance of a healthy diet and this will also assist in stress management. This course also focuses on budgeting and managing finances allowing students toShow MoreRelatedThe Principles Of Professionalism And Professionalism1593 Words   |  7 Pagesthe principles of professionalism will be discussed including its importance to education as a whole, and as a practitioner. The following will be discussed; assessing the different understandings of professionalism, demonstrating factors such as self-awareness, personal qualities and skills. 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Solution to Auditing and Assurance Service 1,12,B, 3 Free Essays

string(72) " and expenses that are real and in existence at the balance sheet date\." SOLUTIONS FOR REVIEW CHECKPOINTS 1. 1Business risk is the collective risk faced by a company that engages in business. It encompasses all threats to and organization’s goals and objectives. We will write a custom essay sample on Solution to Auditing and Assurance Service: 1,12,B, 3 or any similar topic only for you Order Now It includes the chance that customers will buy from competitors, that product lines will become obsolete, that taxes will increase, that government contracts will be lost, or that employees will go on strike. 1. 2The conditions of complexity, remoteness, time-sensitivity, and consequences increase demands by outside users for relevant, reliable (useful) information. They cannot produce the information for themselves because of these conditions. Company managers and accountants produce the information. 1. 3Information risk, in contrast to business risk, is the risk (probability) that the information (mainly financial) disseminated by a company will be materially false or misleading. This risk creates the demand for objective outsiders to provide assurance to decision makers. 1. 4Students can refer to the AAA and AICPA definitions in Chapter 1. Some instructors may want to extend the consideration of definitions to include the internal and governmental definitions (located in Module D). In response to â€Å"What do auditors do? ,† students can refer to Exhibit 1. 2 and respond in terms of: (1) obtaining and evaluating evidence about assertions management makes about economic actions and events, (2) ascertaining the degree of correspondence between the assertions and the appropriate reporting framework, and (3) providing an audit report (opinion). Students can also respond more generally in terms of â€Å"lending credibility† to financial statements presented by management (attestation). 1. An attest engagement is: â€Å"An engagement in which a practitioner is engaged to issue or does issue a written communication that expresses a conclusion about the reliability of a written assertion that is the responsibility of another party. † To attest means to lend credibility or to vouch for the truth or accuracy of the statements that one party makes to another. The attest function is a term often applied to the activities of independent CPAs when actin g as auditors of financial statements. 1. Assurance engagements are independent professional services that improve the quality of information, or its context, for decision makers. Since information (financial statements) are prepared by managers of an entity who have authority and responsibility for financial success or failure, an outsider may be skeptical that the information is objective, free from bias, fully informative, and free from material error, intentional or inadvertent. The services of an independent-CPA auditor helps resolve those doubts because the auditor’s success depends upon his independent, objective, and competent assessment of the information (e. . , the conformity of the financial statements with the appropriate reporting framework). The CPA’s role is to lend credibility to the information; hence the outsider will likely seek his independent opinion. 1. 7CPAs serve as independent intermediaries who lend credibility to information. Hence, assuranc e services are natural extensions of the well-regarded audit and attest services. CPAs can use their expertise in internal control and measurement methods. Assurance services are natural extensions of attestation services, which earlier evolved from financial statement audit services. Attestation and audit services are highly structured and intended to be useful for large groups of decision makers (e. g. , investors, lenders). On the other hand, assurance services are more customized and intended to be useful to smaller, targeted groups of decision makers. In this sense, assurance services bear resemblance to consulting services. 1. 8There are four major elements of the broad definition of assurance services: Independence. CPAs want to preserve their attestation and audit reputations and competitive advantages by preserving integrity and objectivity when performing assurance services. Professional Services. Virtually all work performed by CPAs is defined as â€Å"professional services† as long as it involves some element of judgment based in education and experience. Improving the Quality of Information or its Context. The emphasis is on â€Å"information†Ã¢â‚¬â€œ CPAs’ traditional stock in trade. CPAs can enhance quality by assuring users about the reliability and relevance of information, and these two features are closely related to the familiar credibility-lending products of attestation and audit services. â€Å"Context† is relevance in a different light. For assurance services, improving the context of information refers to improving its usefulness when targeted to particular decision makers in the surroundings of particular decision problems. For Decision Makers. They are the â€Å"consumers† for assurance services, and they personify the consumer focus of new and different professional work. They may or may not be the â€Å"client† that pays the fee, and they may or may not be one of the parties to an assertion or other information. The decision makers are the beneficiaries of the assurance services. 1. Accountants record, classify, and summarize (report) a company’s assets, liabilities, capital, revenue, and expense in financial statements. Auditors gather evidence related to the assertions management makes in financial statements and render a report. Accountants produce the financial statements; auditors audit them. 1. 10There are three major classifications of ASB assertions with several assertions in each c lassification: Transaction Assertions: Occurrence assertion: The objective is to establish with evidence that transactions giving rise to assets, liabilities, sales and expenses actually occurred. Key questions include â€Å"Did the recorded sales transactions really occur? † Completeness and cutoff assertion: The objective is to establish with evidence that all transactions of the period are in the financial statements and all transactions that properly belong in the preceding or following accounting periods are excluded. Completeness also refers to proper inclusion in financial statements of all assets, liabilities, revenue, expense and related disclosures. Key questions related to completeness include: â€Å"Are the financial statements (including footnotes) complete? and â€Å"Were all the transactions recorded in the right period? † Accuracy assertion: The objective is to establish with evidence that transactions have been recorded at the correct amount. Key questions relate to â€Å"where the expenses recorded at the proper dollar amount? † Classification assertion: The objective is to establish with evidence that transactions were posted to the cor rect accounts. Key questions relate to â€Å"was this expense recorded in the appropriate account/† Balance Assertions: Existence assertion: The objective is to establish with evidence that balance represents assets, liabilities, sales, and expenses that are real and in existence at the balance sheet date. You read "Solution to Auditing and Assurance Service: 1,12,B, 3" in category "Papers" Key questions relate to â€Å"does this number truly represent assets that existed at the balance sheet date? † Rights and obligations assertion: The objectives related to rights and obligations are to establish with evidence that assets are owned (or rights such as capitalized leases are shown) and liabilities are owed. Key questions related to this assertion include: â€Å"Does the company really own the assets? nd â€Å"Are related legal responsibilities identified? † Completeness assertion: The objective is to establish with evidence that all balances of the period are in the financial statements. Key questions related to completeness include: â€Å"Are the financial statements (including footno tes) complete? † Valuation assertion: The objective is to establish with evidence that balances have been valued correctly. Key questions include â€Å"Are the accounts valued correctly? † and â€Å"Are expenses allocated to the period(s) benefited? † Presentation and Disclosure assertion: Occurrence assertion: The objective is to establish with evidence that transactions giving rise to assets, liabilities, sales and expenses actually occurred. Key questions include â€Å"are we properly presenting and disclosing transactions that occurred during this period. Rights and obligations assertion: The objectives related to establishing with evidence the proper presentation of assets, liabilities, revenues and expenses to which the company has a legal right or a legal obligation Key questions related to this assertion include: â€Å"Has the company properly presented the assets in its possession? nd â€Å"Are related legal responsibilities identified and properly disclosed? † Completeness assertion: The objective is to establish with evidence that all balances of the period are presented and/or disclosed in the financial statements. Key questions related to completeness include: â€Å"Are the financial statements (including footnotes) complete? † Accuracy and valuation assertion: The objectives are to establish with evidence that balances presented and disclosed in the financial statements have been recorded accurately and have been valued correctly. Key questions include â€Å"Are the accounts valued correctly? † and â€Å"Are expenses allocated to the period(s) benefited? † Classification and understandability assertion: The objective is to establish with evidence that presentation and disclosures are properly classified on the financial statements and that financial statements including footnotes are understandable to the financial statement users. Key questions relate to â€Å"Is this account properly presented in the correct financial statement category† and â€Å"are the footnote disclosures presented to promote an understanding of the nature of the account† . 11The ASB’s assertions are important to auditors because they are the focal points for audit procedures. Furthermore, audit procedures are the means to answer the key questions posed by management’s assertions. The ASB assertions are in more detail than the PCAOB assertions and are categorized into transaction assertions, bala nce assertions, and presentation and disclosure assertions. They include the following additional assertions: cutoff, accuracy, valuation, classification, and understandability. Exhibit 1. 4 explains the difference between ASB and PCAOB assertions. . 12Holding a belief that a potential conflict of interests always exists causes auditors to perform procedures to search for errors or frauds that would have a material effect on financial statements. This tends to make audits more extensive for the auditor and more expensive for the client. The situation is not a desirable one in the vast majority of audits where no errors or frauds exist. However, errors and financial reporting frauds have happened too often. Users of financial statements and audit reports expect auditors to detect material misstatements. . 13Some examples of assurance engagements include: †¢ Internet Website certification (CPA WebTrust) †¢ Accounts receivable review and cash enhancement †¢ Third-party r eimbursement maximization †¢ Rental property operations review †¢ Customer satisfaction surveys †¢ Benchmarking/best practices †¢ Evaluation of investment management policies †¢ Fraud and illegal acts prevention and deterrence †¢ Information systems security reviews (SysTrust) †¢ Internal audit strategic review . 14Major areas of public accounting services: †¢ Assurance services (including audit services and other attestation engagements) †¢ Tax consulting services †¢ Consulting services 1. 15Operational auditing is the study of business operations for the purpose of making recommendations about the economic and efficient use of resources, effective achievement of business objectives, and compliance with company policies. The AICPA views operational auditing as a type of management advisory service offered by public accounting firms. 1. 6The elements of expanded-scope auditing include: (1) financial and compliance audits, (2) economy and efficiency audits, and (3) program results audits. 1. 17Compliance auditing involves a study of an organization’s policies, procedures, and performance in following laws, rules, and regulations. An example is a school’s policies, procedures, and performance in determining eligibility for a free meal program. 1. 18Other kinds of auditors include IRS agents/auditors, state and federal bank examiners, state insurance department auditors, and fraud auditors. 1. 9The purpose of continuing education is to ensure that CPAs in practice maintain their expertise at a sufficiently high level in light of evolving business conditions and new regulations. For CPAs in public practice, 120 hours of continuing education is required every three years, with no less than 20 hours in any one year. For CPAs not in public practice, the general requirement is 120 or fewer (90 in some states) every three years. 1. 20Everything cannot be learned in the classroom, and some on-the-job experi ence is helpful before a person is foisted off on the public as a licensed professional. Also, the experience weeds out some persons who do not want to take the trouble to be involved in accounting work. 1. 21State boards administer the state accountancy laws. State boards make physical arrangements to give the CPA examination, collect the examinations, receive the grades from the AICPA grading activity, and notify candidates whether they passed or failed. After satisfying state requirements for education and experience, successful candidates are awarded the CPA certificate by a state board. At the same time, new CPAs must pay a fee to obtain a state license to practice. Thereafter, state boards of accountancy regulate the behavior of CPAs under their jurisdiction (enforcing state rules of conduct) and supervise the continuing education requirements. 1. 22After becoming a CPA licensed in one state, a person can obtain a CPA certificate and license in another state. The process is known as reciprocity. CPAs can file the proper application with another state board of accountancy, meet the state’s requirements, and obtain another CPA certificate. Many CPAs hold certificates and licenses in several states. From a global perspective, individuals must be licensed in each country. Similar to CPAs in the United States, â€Å"Chartered Accountants† (CAs) practice in Australia, Canada, Great Britain, and India. Efforts are currently underway through NASBA to streamline the reciprocity process so that CPAs can practice across state lines without having to have 50 different licenses. SOLUTIONS FOR MULTIPLE CHOICE-QUESTIONS 1. 23a. IncorrectThis is an attestation to the prize promoter’s claims. b. IncorrectThis is an audit engagement to give an opinion on financial statements. c. IncorrectThis is an assurance engagement on newspaper’s circulation data. . IncorrectThis is an assurance engagement on the performance of golf balls. e. CorrectSince attestation and audit engagements are subsets of assurance engagements, all are assurance engagements. 1. 24a. CorrectThis statement characterizes professional skepticism. b. Incorrectâ€Å"Exclusively an auditor† is not an idea that seems to speak of â€Å"skepticism. † c. IncorrectProfessio nal obligations† is not an idea that seems to speak of â€Å"skepticism. † d. IncorrectThis is more an assumption of necessity than of skepticism. 1. 25a. Incorrect While work on a forecast is covered by the attestation standards, the auditors should give assurance or a disclaimer. b. Correct This is the basic definition of attestation–giving a report on reliability of an assertion one party makes to another. c. Incorrect Tax work is not an attestation service. d. Incorrect Litigation and expert witness services are not attestation services. 1. 26a. IncorrectThe objective of environmental auditing is to help achieve and maintain compliance with environmental laws and regulations and to help identify and correct unregulated environmental hazards b. IncorrectThe objective of financial auditing is to obtain assurance on the conformity of financial statements with generally accepted accounting principles. c. Incorrect The objective of compliance auditing is the entity’s compliance with laws and regulations. d. CorrectOperational auditing refers to the study of business operations for the purpose of making recommendations about the economic and efficient use of resources, effective achievement of business objectives, and compliance with company policies. 1. 27a. IncorrectWhile not the primary objective of an operational audit, auditors should still be concerned about compliance with financial accounting standards. b. CorrectThis statement is part of the basic definition of operational auditing. c. IncorrectAn operational audit does not focus on the financial statements. d. IncorrectAnalytical tools and skills are an important part of financial auditing. 1. 28a. CorrectThe proper reference is to the appropriate reporting framework. b. IncorrectThe AICPA does not refer only to the FASB for the appropriate reporting framework. c. IncorrectThe reference to the SEC is wrong. d. IncorrectThis is an abstract of the AAA definition. 1. 29d. CorrectWhile â€Å"complexity,† â€Å"remoteness,† and â€Å"consequences† are good answers, â€Å"skepticism,† or potential conflict of interest, generally drives the demand for audited financial statements. 1. 30d. CorrectSarbanes-Oxley prohibits the provision of all of the services listed in answers a, b, and c, therefore, d (all of the above) is the best response. 1. 31a. IncorrectAuditors do not reduce business risk. b. CorrectAuditors give some assurance that the information risk is low. c. IncorrectComplexity creates demand for accounting services, but is not an audit objective. d. IncorrectAuditors only indirectly control the timeliness of financial statements. 1. 32d. CorrectAnswers a, b, and c refer to a financial statement audit, an internal controls attestation engagement, and an operational audit, respectively. Compliance refers to following laws, rules, regulations, and policies. 1. 33d. CorrectWhile answers a, b, and c are true, experience, education, and successful completion of the Uniform CPA are all necessary to be licensed as a CPA. 1. 34d. CorrectThe mission of the U. S. Government Accountability Office is to ensure that public officials are using public funds efficiently, effectively, and economically. 1. 35b,d CorrectThe two categories of performance audits are economy and efficiency audit and program audits. 1. 36c. CorrectReview of credit ratings of customers gives indirect evidence of the collectibility (valuation) of accounts receivable. 1. 37a. IncorrectRhonda’s representations are not sufficient evidence to support assertions made in the financial statements. b. IncorrectDespite Rhonda’s representations, Jones must gather additional evidence to corroborate Rhonda’s assertions. . IncorrectRhonda’s representations are a form of evidence (albeit weak) that should neither be disregarded, nor blindly regarded without professional skepticism. d. CorrectRhonda’s assertions need corroboration. 1. 38a. IncorrectAlthough there is a high level of risk associated with client acceptance, this phrase was created by the au thors. b. CorrectInformation risk is the probability that the information circulated by a company will be false or misleading. c. IncorrectMoral hazard is the risk that the existence of a contract will change the behavior of one or both parties to the contract. d. IncorrectBusiness risk is the probability an entity will fail to meet its objectives and, ultimately, fail. 1. 39a. CorrectCompleteness includes cutoff which refers to accounting for revenue, expense, and other transactions in the proper period (neither postponing some recordings to the next period nor accelerating next-period transactions into the current-year accounts). 1. 40d. CorrectThe objective related to rights and obligations is to establish with evidence that amounts reported as assets of the company represent its property rights and that the amounts reported as liabilities represent its obligations. . 41b. CorrectManagement’s existence assertion states that reported assets, liabilities, and equities actually exist. 1. 42a. IncorrectUnder Sarbanes-Oxley, professional service firms are prevented from acting in a managerial decision making role for an audit client. b. IncorrectUnder Sarbanes-Oxley, professional service firms are prevented from auditing the firm’s own work on an audit client. c. IncorrectUnder Sarbanes-Oxley, professional service firms may only provide tax consulting service to an audit client with the audit committee’s approval. d. CorrectSarbanes-Oxley prevents professional service firms from engaging in any of the above listed capacities. 1. 43 d. CorrectReciprocity refers to the process through which CPAs licensed in one state can obtain a CPA certificate and license in another state. 1. 44a. CorrectAuditing is a subset of attestation engagements that focuses on the certification of financial statements. b. IncorrectAuditing is a subset of attestation that provides higher assurance than that provided by an attestation engagement. c. IncorrectConsulting engagements focus on providing clients with advice and decision support. d. IncorrectAssurance engagements are designed to improve the quality of information, or its context, for decision makers. 1. 45d. CorrectAlthough auditing is a subset of attestation, and attestation is a subset of assurance, the focus of the engagements tends to be very specific. 1. 46d. CorrectCredibility, advancement, and monetary rewards are all reasons to become certified. SOLUTIONS FOR EXERCISES AND PROBLEMS 47. Audit, Attestation, and Assurance Services Students may encounter some difficulty with this matching because the Special Committee on Assurance Services listed many things that heretofore ave been considered â€Å"attestation services† (long before assurance services were invented). Maybe this is a good vehicle for discussing the considerable overlap between attestation services (attestation standards) and assurance services. †¢ Real estate demand studies — Assurance service (listed by SCAS but not in the textbook chapter) †¢ Ballot for awards show — Assurance service (listed by SCAS but not in the textbook chapter) [But PwC attested to the Academy Awards ballot results long before assurance services were invented] Utility rate applications — Attestation service (or maybe a consulting service; I’m somewhat surprised the SCAS did not list it as an assurance service. ) †¢ Newspaper circulation audits –Assurance service (listed by SCAS but not in the textbook chapter) [But this work has appeared in prior years in examples of attestation services] †¢ Third-party reimbursement maximization — Assurance service (listed by SCAS and listed in the textbook chapter) †¢ Annual financial report to stockholders — Audit service Rental property operations review — Assurance service (listed by SCAS and listed in the textbook chapter) †¢ Examination of financial forecasts and projections — Attestation service (but also listed by SCAS as an assurance service) †¢ Cus tomer satisfaction surveys– Assurance service (listed by SCAS and listed in the textbook chapter) †¢ Compliance with contractual requirements — Attestation service (but also listed by SCAS as an assurance service) †¢ Benchmarking/best practices — Assurance service (listed by SCAS and listed in the textbook chapter) Evaluation of investment management policies — Assurance service (listed by SCAS and listed in the textbook chapter) †¢ Information systems security reviews — Assurance service (listed by SCAS and listed in the textbook chapter) †¢ Productivity statistics — Attestation service (but also listed by SCAS as an assurance service under various descriptions) †¢ Internal audit strategic review — Assurance service (listed by SCAS and listed in the textbook chapter) †¢ Financial statements submitted to a bank loan officer — Audit service 1. 49 ASB Assertions PCAOB Assertion |Corresponding ASB ass ertion |Nature of assertion | |Existence or Occurrence |Existence |Balance | | |Occurrence |Transactions | | | |Disclosures | |Rights and Obligations |Rights and Obligations |Balances | | | |Disclosures | |Completeness |Completeness |Transactions | | | |Balances | | | |Disclosures | | |Cutoff Transactions | |Valuation and Allocation |Accuracy |Transactions | | | |Disclosures | | |Valuation |Balances | | | |Disclosures | |Presentation and Disclosure |Classification |Transactions | | | |Disclosures | | |Understandability |Disclosures | 1. 52Identification of Audits and Auditors The responses to this matching type of question are ambiguous. The engagement examples are real examples of external, internal and governmental audit situations. You might point out to students that the distinctions among compliance, economy and efficiency and program results audits are not always clear. The â€Å"solution† is shown below in matrix form, showing some engagement numbers in two or t hree cells. The required schedule follows. |Type of Audit | | |Financial Statement | |Economy, Efficiency |Program | |Auditor | |Compliance | |Results | |Independent CPA |2, 10 | | | | |Internal Auditor | |6, 8 |4, 8 | | |Governmental (GAO) | | |1, 3 |1, 3, 9 | |IRS Auditor | |5 | | | |Bank Examiner | |7 | | | |Proprietary school’s training expenses |Economy and Efficiency Program Results |Governmental (GAO) | |Advertising agency financial statements |Financial statement |Independent CPAs | |Dept. f Defense launch vehicle |Economy and Efficiency or Program Results |Governmental (GAO) | |Municipal services |Economy and Efficiency |Internal auditors | |Tax shelters |Compliance |IRS auditors | |Test pilot reporting |Compliance |Internal auditors | |Bank solvency |Compliance |Bank examiners | |Materials inspection by manufacturer |Compliance or Economy and Efficiency |Internal auditors | |States’ reporting chemical use data |Program goal |Governmental (GAO) | |Sports compl ex forecast |Financial statement |Independent CPAs | SOLUTIONS FOR REVIEW CHECKPOINTS 2. 1For independent (external) auditors of financial statements, practice standards are issued by the AICPA Auditing Standards Board (in the form of Statements on Auditing Standards) and the Public Company Accounting Oversight Board (in the form of Auditing Standards). Statements on Auditing Standards are appropriate for the audits of nonpublic entities, while Auditing Standards are appropriate for the audits of public entities. For governmental auditors, the Government Accountability Office issues Government Auditing Standards (also known as the â€Å"Yellow Book†). For internal auditors, the Institute of Internal Auditors issues Statements of Internal Auditing Standards (also known as the â€Å"Red Book†). For fraud auditors, the Association of Certified Fraud Examiners issues Professional Standards and Practices for Certified Fraud Examiners. For auditors in other countries, the IFAC International Auditing and Assurance Standards Board issues International Standards on Auditing and Assurance. 2. 2Generally accepted auditing standards are standards that identify necessary qualifications and characteristics of auditors and guide the conduct of the audit examination. Generally accepted accounting principles represent the requirements for the preparation and presentation of financial statements and accompanying footnote disclosures. These two types of standards are related to one another because a primary objective of a GAAS audit is to allow auditors to conclude whether an entity’s financial statements are prepared and presented in conformity with GAAP. 2. 3The three fundamental principles are: 1. Responsibilities, which involves having appropriate competence and capabilities, complying with relevant ethical requirements, maintaining professional skepticism and exercising professional judgment. 2. Performance, which requires auditors to obtain reasonable assurance about whether the financial statements as a whole are free of material misstatement by: (1) planning the work and properly supervising assistants; (2) determining and applying appropriate material levels; (3) identifying and assessing the risk of material misstatement; and, (4) obtaining sufficient appropriate audit evidence. 3. Reporting, which requires the auditor to express an opinion as to whether the financial statements are prepared in accordance with the applicable financial reporting framework. Auditing procedures relate to acts to be performed during the engagement. Auditing standards deal with measures of the quality of performance of those acts and the objectives to be attained. Auditing standards are less subject to change and provide the criteria for rejecting, accepting, or modifying auditing procedures in a given circumstance. An example of the relative stability of standards and procedures is found in the change from non-computerized information systems to computerized information systems. New auditing procedures were required to evaluate computerized information systems, but auditing standards remained unchanged and were the criteria for determining the adequacy of the new auditing procedures. 2. 4Independence in fact represents auditors’ mental attitudes (do auditors truly act in an unbiased and impartial fashion with respect to the client and fairness of its financial statements? ). Independence in appearance relates to financial statement users’ perceptions of auditors’ independence. Auditors can be independent in fact but not perceived to be independent. For example, ownership of a small interest in a public client would probably not influence auditors’ behavior with respect to the client. However, it is likely that third-party users would not perceive auditors to be independent. 2. Due care reflects a level of performance that would be exercised by reasonable auditors in similar circumstances. Auditors are expected to have the skills a nd knowledge of others in their profession (known as that of a prudent auditor) and are not expected to be infallible. 2. 6Professional skepticism is a state of mind that is characterized by appropriate questioning and a critical assessment of audit evidence. Professional judgment is the auditors’ application of relevant training, knowledge, and experience in making informed decisions about appropriate courses of action during the audit engagement. Auditors are required to demonstrate professional skepticism and professional judgment throughout the entire audit process. 2. Reasonable assurance recognizes that a GAAS audit may not detect all material misstatements and auditors are not â€Å"insurers† or â€Å"guarantors† regarding the fairness of the company’s financial statements. The following characteristics of an audit do not permit auditors to provide absolute assurance: †¢ Mistakes and misinterpretations may occur †¢ Management judgments an d estimates affect financial reporting †¢ Audit procedures cannot always be relied upon to detect misstatements †¢ Audit engagements must be conducted within a reasonable period of time and so as to achieve a balance between benefit and cost. 2. 8Three elements of planning and supervision considered essential in audit practice are: †¢ A written audit plan. †¢ An understanding of the client’s (auditee’s) business. Policies to allow an audit team member to document disagreements with accounting or auditing conclusions and disassociate him or herself from the matter. 2. 9The timing of the auditors’ appointment is important because auditors need time to properly plan the audit and perform the necessary work without undue pressure from tight deadlines. 2. 10Materiality is the dollar amount that would influence the lending or investing decisions of users; this concept recognizes that auditors should focus on matters that are important to financial statement users. Materiality should be considered in planning the audit, performing the audit, and evaluating the effect of misstatements on the entity’s financial statements. 2. 1Auditors obtain an understanding of a client, including its internal control, as a part of the control risk assessment process primarily in order to plan the nature, timing and extent of substantive audit procedures. A secondary purpose is because of auditors’ responsibilities for reporting on client’s internal controls under Auditing Standard No. 5. 2. 12As the client’s internal control is more effective (a lower level of control risk), auditors may use less effective substantive procedures (a higher level of detection risk). Conversely, when the client’s internal control is less effective (a higher level of control risk), auditors must use more effective substantive procedures (a lower level of detection risk). 2. 13Audit evidence is defined as the information used by a uditors in arriving at the conclusion on which the audit opinion is based. 2. 4External documentary evidence is audit evidence obtained from another party to an arm’s-length transaction or from outside independent agencies. External evidence is received directly by auditors and is not processed through the client’s information processing system. External-internal documentary evidence is documentary material that originates outside the bounds of the client’s information processing system but which has been received and processed by the client. Internal documentary evidence consists of documentary material that is produced, circulates, and is finally stored within the client’s information processing system. Such evidence is either not circulated to outside parties at all or is several steps removed from third-party attention. 2. 5In general, evidence that is completely external in nature is most reliable, because the client has not influenced its processing . In contrast, evidence that is completely internal in nature is least reliable, as it may represent a fictitious transaction created or modified by client personnel to enhance perceptions of the client’s financial statements. 2. 16As auditors need to achieve lower levels of detection risk, more appropriate evidence needs to be obtained. Thus, auditors should gather higher quality evidence (more reliable evidence). For example, auditors may choose to obtain evidence from external sources rather than internal sources. In addition, for lower levels of detection risk, auditors need to gather more sufficient evidence. Because sufficiency relates to the quantity of evidence, a greater number of transactions or components of an account balance should be examined. 2. 17A financial reporting framework is a set of criteria used to determine the measurement, recognition, presentation, and disclosure of material items in the financial statements. The financial reporting framework is related to auditors’ reporting responsibilities because this framework serves as the basis against which the financial statements are evaluated and the auditors’ opinion on the financial statements is expressed. 2. 18Four types of opinions and their conclusions: Type | |Conclusion | |Unqualified opinion | |Financial statements are presented in conformity with GAAP. | |Adverse opinion | |Financial statements are not presented in conformity with GAAP. | |Qualified opinion | |Financial statements are presented in conf ormity with GAAP, except for one or | | | |more departures or issues of concern. | |Disclaimer of opinion | |An opinion cannot be issued on the financial statements. | 2. 19The auditors’ report is dated at the point when all significant procedures have been completed by auditors and auditors have gathered sufficient appropriate evidence. This date is referred to as the audit completion date. 2. 20Public accountants should issue a report when they are associated with financial statements because users may mistakenly assume that an audit has been conducted and that the entity’s financial statements are fairly presented according to GAAP. 2. 21The purpose served by the attestation standards is to guide work in attestation areas and engagements other than audits of financial statements. 2. 22The major differences between attestation standards and generally accepted auditing standards (GAAS) lie in the areas of practitioner competence, materiality and the risk of material misstatement, and reporting. GAAS presume knowledge of accounting and require competence and capabilities as auditors (meaning auditors of financial statements). The attestation standards are more general, requiring training and proficiency in the â€Å"attest function† and knowledge of the â€Å"subject matter of the assertions. † The attestation standards have no specific requirement for determining materiality levels or obtaining and understanding of the entity and its environment to assess the risk of material misstatement. Because attestation engagements may cover information not confined to accounting and financial assertions, these activities may not be appropriate for all attest engagements. Reporting is different because attestations on nonfinancial information do not depend upon generally accepted accounting principles. In addition, GAAS do not address two reporting issues (stating significant reservations about the engagement and indicating that the report is only intended for specified parties) that are important reporting aspects for attestation engagements. 2. 23A system of quality control provides firms with reasonable assurance that the firm and its personnel (1) comply with professional standards and applicable regulatory and legal requirements and (2) issue reports that are appropriate in the circumstances. The six elements of a system of quality control are: . Leadership responsibilities for quality within the firm (â€Å"tone at the top†) 2. Relevant ethical requirements 3. Acceptance and continuance of clients 4. Human resources 5. Engagement performance 6. Monitoring 24. In deciding whether to accept or continue an engagement with a client, firms sho uld consider: †¢ The integrity of the client and the identity and business reputation of its owners, key management, related parties, and those charged with governance. †¢ Whether the firm possesses the competency, capability, and resources to perform the engagement. †¢ Whether the firm can comply with the necessary legal and ethical requirements. If firms decide to withdraw from an engagement, the firm should document significant issues, consultations, conclusions, and the basis for any conclusions related to the decision to withdraw. 25. Typically, firms that audit nonpublic companies have peer reviews conducted through the AICPA’s Center for Public Company Audit Firms Peer Review Program. While firms that are subject to PCAOB review requirements can elect to have peer reviews conducted under this program, most choose not to do so. 2. 26The PCAOB’s monitoring role for firms providing auditing services to public entities includes registering public accounting firms and conducting inspections of registered public accounting firms (similar to peer reviews). 2. 7The frequency of PCAOB inspections depends upon the number of audits conducted by member firms. For firms performing audits for more than 100 public companies, inspections are required on an annual basis. For those performing audits for fewer than 100 publi c companies, inspections are conducted every three years. SOLUTIONS FOR MULTIPLE-CHOICE QUESTIONS 2. 28a. CorrectGathering audit evidence is a component of the performance principle. b. IncorrectWhile reasonable assurance is related to gathering audit evidence, this is not one of the categories of principles c. IncorrectThe reporting principle relates to the contents of the auditors’ report d. IncorrectThe responsibilities principle relates to the personal integrity and professional qualifications of auditors. 2. 29a. IncorrectThis practice relates to accountants’ competence and capabilities, not due care. b. IncorrectThis practice relates to the reporting principle. c. IncorrectSufficiency of evidence relates to the performance principle and not due care. d. CorrectThese practices are a part of due care. 2. 30a. IncorrectGAAS relates to the conduct of audit engagements and not overall professional services. b. CorrectStandards within a system of quality control are firm- (rather than auditor-) related. c. IncorrectGAAP relates to accounting and financial reporting, rather than auditing practices. d. IncorrectInternational auditing standards govern the conduct of audits conducted across international borders. 2. 31a. IncorrectRelying more extensively on external evidence is related to the appropriateness (or quality) of evidence. b. IncorrectFocusing on items with more significant financial effects on the financial statements is related to materiality. c. CorrectProfessional skepticism is characterized by appropriate questioning and a critical assessment of audit evidence. d. IncorrectFinancial interests are most closely related to auditors’ independence. 2. 32a. CorrectAuditors study internal control to determine the nature, timing, and extent of substantive tests. b. IncorrectConsulting suggestions are secondary objectives in an audit. c. IncorrectInformation about the entity’s internal control is, at best, indirect evidence about assertions in the financial statements. d. IncorrectInformation about the entity’s internal control provides auditors with little opportunity to learn about changes in accounting principles. 2. 33a. IncorrectExternal evidence is considered to be relatively reliable. b. CorrectManagement representations should least affect auditors’ conclusions, as they have not been validated or corroborated by external parties. c. IncorrectAuditor-prepared evidence is considered to be the most reliable form of evidence. d. IncorrectAlthough a representation of a client employee, inquiry of the entity’s legal counsel is considered more reliable than that of entity management. 2. 34a. IncorrectInquiry of management should least affect auditors’ conclusions. b. IncorrectAlthough very persuasive, auditors’ personal knowledge (choice d) provides the most persuasive evidence c. IncorrectObservation of a client’s procedures provides evidence on the effectiveness of the client’s internal control, but not the existence assertion for newly-acquired computer equipment. d. CorrectAuditors’ personal knowledge provides the most persuasive evidence. 2. 35a. IncorrectInquires of client personnel are the least reliable form of evidence. b. IncorrectWhile more reliable than inquiries (choice a), inspection of internal documents is relatively low in terms of reliability. c. IncorrectWhile sales invoices are documents created by external parties, the fact that these documents were received from client personnel decreases their reliability. d. CorrectBecause the statements were received directly from outside parties, this is a more reliable form of evidence than choice (c). 2. 36a. IncorrectDocumentation of this nature would not be related to independence. b. IncorrectWhile the quality of the documentation and the conclusions included in the documentation might provide information about competence and capabilities, choice (c) is more appropriate. c. Correct Initials of the preparer and reviewer provide evidence that the documentation was reviewed, which relates to planning and supervision. d. IncorrectWhile the quality of the documentation and the conclusions included in the documentation might provide information about sufficient appropriate evidence, choice (c) is more appropriate 2. 37NOTE TO INSTRUCTOR: Since this question asks students to identify the requirement that is not included in attestation standards, the response labeled â€Å"correct† is not included in attestation standards and those labeled â€Å"incorrect† are included in attestation standards. a. IncorrectAttestation standards require adequate knowledge of the subject matter. b. CorrectAn understanding of the client’s environment (including internal control) is not required under attestation standards, because internal control may not always be relevant to the subject matter of the attestation. c. IncorrectAttestation standards require sufficient evidence to be gathered. d. IncorrectAttestation standards require independence in mental attitude. 2. 38NOTE TO INSTRUCTOR: Since this question asks students to identify the concept that is least related to due care, the response labeled â€Å"correct† is least related to due care and those labeled â€Å"incorrect† are more related to due care. a. IncorrectDue care requires the level of skills and knowledge of others in the auditors’ profession, which would require independence in fact. b. IncorrectSee choice (a) above. c. IncorrectDue care refers to the performance of a â€Å"prudent† auditor. d. CorrectDue care recognizes that mistakes and misinterpretations may occur during the audit. 2. 39a. IncorrectInternal documents are a relatively low quality of evidence. b. IncorrectManagement representations (and the related verbal inquiries) are the lowest quality of evidence. c. IncorrectWhile direct, external evidence is of reasonable quality, it is of lower quality than direct personal knowledge of the auditor (choice d). d. CorrectDirect, personal knowledge of auditors is the most appropriate form of evidence. 2. 40a. IncorrectWhile it may increase auditors’ knowledge about the client, obtaining an understanding of a client’s internal control does not directly influence auditors’ competence and capabilities. b. IncorrectObtaining an understanding of a client’s internal control does not directly influence auditors’ independence. c. IncorrectObtaining an understanding of a client’s internal control does not directly help satisfy the quality control standard about audit staff professional development. d. CorrectThe primary purpose of obtaining an understanding of a client’s internal control is to plan the nature, timing, and extent of substantive audit procedures on an engagement. 2. 41d. CorrectIndependence confirmations would ensure that all firm personnel are independent with respect to that firm’s clients, which is related to the â€Å"Relevant Ethical Requirements† element of a system of quality control. It would not relate to acceptance and continuance of clients (a), engagement performance (b), or monitoring (c). 2. 42b. CorrectGovernment auditing standards are issued by the Government Accountability Office (GAO). Governmental accounting standards are issued by the Governmental Accounting Standards Board. 2. 43a. CorrectConsultation with a specialist demonstrates due care if auditors do not have expertise in the area in question. b. IncorrectAuditors are experts in financial matters, not areas of art (and other collectibles) valuation. c. IncorrectGAAS applies to all audit engagements, including audit engagements for not-for-profit organizations. d. IncorrectSince (a) is correct, (d) cannot be correct. 2. 4NOTE TO INSTRUCTOR: Since this question asks students to identify the topic that is not been addressed in the auditors’ report, the response labeled â€Å"correct† is not addressed in the auditors’ report and those labeled â€Å"incorrect† are addresse d in the auditors’ report. a. IncorrectThe responsibilities of the auditor and management are provided in the introductory paragraph. b. CorrectAuditors provide reasonable (but not absolute) assurance in an audit engagement (this is noted in the scope paragraph of the auditors’ report). c. IncorrectA description of the audit engagement is provided in the scope paragraph of the auditors’ report. d. IncorrectThe auditors’ opinion on internal control over financial reporting is provided in the internal control paragraph of the auditors’ report. 2. 45a. CorrectAttestation standards differ from generally accepted auditing standards in that they apply to engagements other than those on historical audited financial statements. b. IncorrectAttestation standards require that the practitioner be independent. c. IncorrectAttestation standards may apply to prospective â€Å"what if† financial statements. d. IncorrectAttestation standards include requirements related to evidence. SOLUTIONS FOR EXERCISES AND PROBLEMS 2. 47Performance Principle The important elements of the performance principle and their relation to the C. Reis Company audit are: 1. Auditors must plan the work and appropriately supervise any assistants. Fulfilling this element would include the preparation of an audit plan for accounts receivable and reviewing it with the assistant prior to beginning the examination. These tasks were not done. Also, the completed audit documentation should have been reviewed to determine whether an adequate examination was performed. The illustration states that this procedure was followed. 2. Auditors must determine and apply appropriate materiality levels throughout the audit. This scenario did not address the process through which materiality levels were determined, so potential strengths and weaknesses related to materiality cannot be assessed. 3. Auditors must identify and assess risks of material misstatement. This element requires auditors to obtain a sufficient understanding of the entity and its environment, including its internal control, to assess the risk of material misstatement of the financial statements whether due to error or fraud, and to design the nature, timing, and extent of further audit procedures. The case presented did not reference any work on the internal control. Complete reliance upon prior-year audit documentation in lieu of an evaluation of the existing internal control is improper, because changes may have been implemented to the system and controls by the client. 4. Auditors must obtain sufficient appropriate audit evidence. The assistant’s preparation of audit documentation, confirmation requests, and other procedures seem to fulfill the requirements of this standard if the audit work is properly performed and is of sufficient scope. 2. 48Time of Appointment and Planning From a theoretical viewpoint (and, in fact, from a practical viewpoint as well) such short notice of a request for an audit causes difficulties with planning the audit work, establishing staffing requirements, and reviewing the work; all of these features are important elements in the exercise of due care. The December 26 – January 20 period is a serious time constraint for an initial audit engagement. The greatest difficulties involve due care as well as the ability to appropriately perform the engagement (planning and supervision, determining materiality levels, identifying and assessing risks of material misstatement, and obtaining sufficient appropriate evidence). In view of the short notice and the time constraint, there may be some question as to whether an audit could be adequately completed by January 20. 2. 55Principles Case Study | | | | |Responsibilities | | | | | | | |1. Auditors are responsible for appropriate competence and | |1. It was inappropriate for Holmes to hire the two students to | |capabilities to perform the audit. | |conduct the audit. The examination must be conducted by persons | | | |with proper education and experience in the field of auditing. | | | |Inexperienced persons can assist, if they are supervised. | |2. Auditors are responsible for complying with relevant ethical | |2. To satisfy the independence requirement, Holmes must be | |requirements. |without bias with respect to the client under audit. Because of | | | |the financial interest in the bank loan, Holmes is neither | | | |independent in fact nor appearance with respect to the assignment | | | |undertaken. In addition, because of a number of actions (hiring | | | |unqualified individuals, failure to supervise those individuals, | | | |etc. ), Holmes did not appear to exhibit due care. | | | | | | | | | | |3. The fact that Holmes merely accepted the financial statements | | | |without questioning any evidence demonstrates lack of professional| |3. Auditors are responsible for maintaining professional | |skepticism (as well as a lack of good professional judgment). | |skepticism and exercising professional judgment throughout the | | | |planning and performance of the audit. | | | | | | |Performance | | | | | | | |1. The auditor must adequately plan the work and must properly | |1. This element recognizes that early appointment of auditors has | |supervise any assistants. |advantages for auditors and the client. Holmes accepted the | | | |engagement without considering the availability of staff. In | | | |addition, Holmes failed to supervise the assistants. The work | | | |performed was not adequately planned. | | | | | |2. The auditor must determine and apply appropriate materiality | |2. There was no discussion that appropriate materiality levels | |level or levels. | |were determined or applied for the audit by either Holmes or the | | | |two accounting students. Thus, compliance with this element is | | | |difficult to assess. | |3. The auditor must assess the risk of material misstatement based| |3. Holmes did not study the client’s internal control nor did the | |on the entity and its environment. | |assistants. There appears to have been no audit examination at | | | |all. The work performed was more an accounting service than it was| | | |an auditing service. | | | | | |4. The auditor must obtain sufficient appropriate audit evidence | |4. No evidence was obtained to support the financial statements. | |about whether material misstatements exist. | |The auditors merely checked the mathematical accuracy of the | | | |records and summarized the accounts. Standard audit procedures and| | | |techniques were not performed. | | | | |Reporting | | | | | | | |1. Based on evaluation of the evidence obtained, the auditor | |1. Because a proper examination was not conducted, the report | |expresses an opinion in accordance with the auditor’s findings, or | |should indicate that no opinion can be expressed as to the fair | |states that an opinion cannot be expressed, in the form of a written | |presentation of the financial statements in accordance with | |report. The opinion states whether the financial statements are | |generally accepted account ing principles. |prepared, in all material respects, in accordance with the | | | |appropriate financial reporting framework. | | | | | | | 2. 57System of Quality Control a. Leadership responsibilities for quality within the firm b. Engagement performance c. Human resources d. Monitoring e. Human resources f. Relevant ethical requirements g. Acceptance and continuance of clients h. Leadership responsibilities for quality within the firm i. Engagement performance SOLUTIONS FOR REVIEW CHECKPOINTS 12. Management prepares a report on the effectiveness of internal control over financial reporting. The auditors prepare reports on (1) the entity’s financial statement and other disclosures and (2) the effectiveness of the entity’s internal control over financial reporting. These can be presented as two separate reports or a combined report. 2. Management’s report on internal control over financial reporting consists of the following major components: †¢ A statem ent indicating that management is responsible for establishing and maintaining adequate internal control over financial reporting. †¢ A statement identifying the framework used by management to assess the effectiveness of the entity’s internal control. Management’s opinion on the effectiveness of the entity’s internal control, including an explicit statement as to whether the internal control over financial reporting is effective. †¢ A statement that the registered accounting firm auditing the financial statements (auditor) has issued an attestation report on the entity’s internal control over financial reporting. 12. 3The auditors’ report serves to communicate to users three specific statements with respect to the financial statements, the conduct of the audit, and the entity in general. First, the report indicates whether the financial statements are presented in conformity with GAAP. Second, auditors use their report to indicate any un usual aspects of the audit examination. Third, even if the financial statements are fairly presented and no problems were noted in the conduct of the audit, the auditors can use the report to communicate information useful to decision makers that may not appear on the face of the financial statements. 12. 4Nine important elements of the auditors’ standard report are: 1. Title. The title should contain the word independent, as in â€Å"Independent Registered Public Accounting Firm† or â€Å"Independent Auditors†. 2. Address. The report shall be addressed to the client, which occasionally may be different from the auditee. 3. Notice of Audit. A sentence should identify the financial statements and indicate that they were audited. This appears in the introductory paragraph. 4. Responsibilities. The report should state management’s responsibility for the financial statements and the auditors’ responsibility for the report. These statements are also in the introductory paragraph. 5. Description of the Audit. The second paragraph (scope paragraph) should declare that the audit was conducted in accordance with the standards of the Public Company Accounting Oversight Board (PCAOB) and describe the principal characteristics of an audit, including a statement of belief that the audit provided a reasonable basis for the opinion. 6. Opinion. The report shall express an opinion (opinion paragraph) regarding conformity of the financial statements with accounting principles generally accepted in the United States of America. 7. Internal Control. The report should reference the auditors’ examination, report, and opinion on the client’s internal control over financial reporting. 8. Signature. The auditors (partner of the audit team) shall sign the report, manually or otherwise. 9. Date. The report shall be dated using the date How to cite Solution to Auditing and Assurance Service: 1,12,B, 3, Papers

Lie Is Wrong free essay sample

Since the early age, we have taught that lying is wrong and hurts people including ourselves. But is it always wrong? There are certain situations in life where you have no choice. Firstly, let’s imagine that we are visiting someone very sick at the hospital. Patient is looking really bad, so we can say that he is not feeling well and we don’t know if there is any hope for him to get better. Will we tell him the true? NO. We will rather say: â€Å"You look so much better†, or â€Å"You will get well soon, you’ll see†. We don’t want him to notice our concern, because he might feel worse knowing how bad he look in our eyes. So lying is good when it can make someone feel better. Secondly, lying is acceptable if it helps avoid conflicts and solves the problems. When a girl asks her boyfriend about his ex-girlfriend, what will happen if he tells her the truth that his ex-girlfriend is more beautiful than her? That girl will surely get angry and will not talk to her boyfriend for many days. We will write a custom essay sample on Lie Is Wrong or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Being too honest can also lead to problem. Thirdly, when a little boy asks his mother what does she think about his drawing, which is quite horrible, he doesn’t want to hear that she doesn’t like it. When she tell him that she think it’s nice, the boy will feel appreciated and it will encourage him to continue working on his skills. Some lying is acceptable, some is not. In my opinion we need to lie in specific situations because the truth would hurt while the lie can help avoid unnecessary problems and protect people we care about. Completely opposite thing is lying to help ourselves escape from responsibility. My parents always teach me that â€Å"lie has short legs†, so it’s better to accept the consequences of our actions than to lie. Even though the truth is good, it is never simple.

5-Paragraph Essay Topic and General Paper’s Outline

5-Paragraph Essay Topic and General Paper’s Outline A five-paragraph essay is the simplest type of academic assignment even though it may be difficult to choose the topic. Some students find it hard to format the paper while others claim that the research process is the hardest part of the task. What really matters the need to arrange all sentences of each paragraph in a logical way. Usually, five paragraphs are enough to cover any topic. You may select the subject of matter from the teacher’s examples, free online samples, or come up with our own idea. Third, online examples of five-paragraph essays on the chosen topic may also serve as your templates. You may copy your writing style, but never copy the text itself as it will be considered plagiarism. Academic plagiarism is punished rather strictly. Those are all general facts. You should begin with the outline to help during the entire writing process. The teachers rarely provide students with an outline, so work on it alone. An example is: Abstract paragraph (if you write in APA style). Summarize the most important points (3-5 points) in one paragraph which occupies no more than 1/3 of the A4 page. Introduction paragraph. Start with a hook sentence which grabs reader’s attention from the first word. Briefly outline what you’ll be writing about in your five-paragraph essay. Highlight the goals in your thesis statement. It is recommended to write a thesis in the last sentence of intro paragraph to leave an impression on your reader. Body paragraphs. The third part is the lengthiest one. It is important to conduct scientific research to find at least two powerful arguments for two paragraphs supporting your thesis statement. At least one paragraph must include an argument of the opposition to let the reader think the writer is objective with his judgments. On the whole, there should be up to three paragraphs. Conclusion paragraph. Unlike an abstract, a conclusion paragraph includes more than a summary of three main arguments and supporting points from each body paragraph. Students also need to rewrite a thesis and put this sentence at the beginning of conclusion. Finally, provide specific forecasts on the chosen topic using some examples in the closing paragraph. Bibliography. Modern Language Association call it ; American Psychological Association name it References Page; etc. No matter how you call it depending on the preferred academic writing style, remember that you must develop a whole list of source you took your ideas from to write your essay. Now, you want to know why you should learn the 5-paragraph essay’s structure. A five-paragraph essay is a common assignment given on English language tests such as SAT, TOEFL, and IELTS. Even the general admissions essay structure follows a 5-paragraph organization. In order to get the highest scores on your tests and best grades, please dedicate some time to studying online guides on various writing styles. Be ready that you’ll be limited in time while completing a writing section. Usually, teachers give up to 50 minutes to complete all paragraphs. A successful five-paragraph essay along with the college admissions paper may later serve as your entrance ticket. Mind these five major styles of academic writing: Narrative Expository Argumentative Persuasive Cause Effect An expository essay made of five paragraphs always requires a broad research on the target problem. You have to provide specific examples to defend the ideas you found in the collected sources. There is no need to include personal points of view: write only what outer sources like books, journals, and online articles suggest. Narrative 5-paragraph essays allow students to think more rather than present entirely informative content. The writer is allowed to share his experience, skills, and knowledge in the narrative paper. It is a great practice for students who are about to become college applicants. Argumentative and persuasive essays have a lot in common. Not only they have five paragraphs in their structure but aim to persuade the reader of the truth of the author’s main argument called thesis. When you write such 5-paragraph essays, it is important to choose the most credible supporting ideas like time-tested facts and statistics offered by trustworthy primary sources. These essays with five paragraphs have strict requirements to formatting. At last, cause and effect paper which includes 5 paragraphs explains how one event or phenomena was caused and influenced by another. In other words, a student has to write about the topic which points to the relationship between two things. Nice Ways to Start Introduction Paragraph It is time to develop some great hook sentence ideas to attract your reader from the first line of five-paragraph essay introduction. There are several examples of hook sentences that can be divided into the following categories: Literary quote Set a scene Words of famous people Anecdote Quote from movie Rhetorical question Regular question Lines from poetry Metaphor Simile Personal story in 1-2 sentences Think about other good ideas to be used as hook sentences by paying attention to these examples of five paragraph essays. Developing Body Paragraphs and Concluding Your 5-Paragraph Essay If you manage to capture the attention of the target readers from the introduction, make sure to keep their readers in other paragraphs by providing powerful supporting arguments, examples from real life, opposing views on the topic, and points associated with the expected results in the future. Don’t underestimate the role of important transition words. They help your body paragraphs flow logically. With the help of transition words like, â€Å"so far,† â€Å"moreover,† â€Å"whereas,† â€Å"finally,† â€Å"to conclude,† and others, the writer moves to the last paragraph which is a conclusion. A restated thesis will remind the reader of the purpose of your writing. In order to leave a strong impression, you may end up with a provoking question or call-to-action. These sentences usually motivate readers to start their own research and continue the debates. That is a good sign: you have chosen the right topic if people go on talking about it. Formatting Finished Five-Paragraph Paper It is better to format your 5-paragraph essay while you are writing. You may want to leave the rest of the time to check your text for grammar mistakes and plagiarism. Take notes on the used sources every time you cite them. Don’t forget to include the following important information: Author’s name Title of source (book, movie, etc.) City of publication and publisher Date/year   Having troubles with introduction, body, or concluding paragraphs? Let professional online writers take care of your assignment by choosing the best topic, conducting complete research, and finding the most powerful supporting arguments. Make an order today to receive the appreciation of your teachers the second day!

Perl Array chop() and chomp() Function - Quick Tutorial

Perl Array chop() and chomp() Function - Quick Tutorial chop(ARRAY); chomp(ARRAY); Perls chop and chomp functions can often be a source of confusion. Not only do they sound similar, they do similar things. Unfortunately, there is a critical difference- ​chop removes the last character of the string completely, while chomp only removes the last character if it is a newline. $myName Jacob\n; chomp($myName); Chomping $myName cuts off the last newline, leaving just Jacob. Once its been chomped, further chomping wont do anything at all. Chopping the name, however, will result in the last character being removed, leaving Jaco: $myName Jacob; chop($myName); Chomping and chopping an array results each element being acted on, and can be a real time saver. chop(ARRAY); chomp(ARRAY); So remember - Chop chops off the last character without question or regret. Chomp only removed the newline, leaving the string itself intact. Chomp does not remove all whitespace characters by default. In fact, by default, chomp only removes what is currently defined as the $INPUT_RECORD_SEPARATOR. If your goal is to trim all whitespace from the end of your string, try using a regex like this one submitted by a reader: $line ~ s/\s*$//g;

Importance of Iron to the Evolution of Civilization in Africa Essay

Importance of Iron to the Evolution of Civilization in Africa - Essay Example While paying attention to the Iron Age in Africa, this expose elucidates the important role of iron to the evolution of civilization in the continent of Africa. African used stones as tools to conduct their daily activities during the first Millennium (â€Å"Early Iron Age in Sub Saharan Africa,† n.d.). In this regard, the activities that they engaged in included hunting and gathering, which was the main source of livelihood for a majority of Africans. Therefore, there were no signs of metalwork in Africa in this millennium. However, the continent traces early signs of metalwork in Egypt during the fifth millennium (â€Å"Early Iron Age in Sub Saharan Africa,† n.d.). In this regard, the first metalwork witnessed in the continent was technology in copper work. Indeed, this innovation coincided with farming and agriculture in the Nile Valley, which is the earliest civilization in Africa (â€Å"Early Iron Age in Sub Saharan Africa,† n.d.). While copper was the first metal for Africans to work with, there are several standpoints regarding the origin of iron in Africa. Nevertheless, there is a common agreement that the first evidence for work related to iron was in the second millennium (â€Å"Early Iron Age in Sub Saharan Africa,† n.d.). According to archeological standpoints, iron traces its origin on two different perspectives. In the first perspective, archeologists identify the invention of iron by the indigenous Africans as the group that invented iron (â€Å"Early Iron Age in Sub Saharan Africa,† n.d.). Archeologists who support this position indicate that Africans invented iron smelting by borrowing from the techniques they used in copper smelting (â€Å"Early Iron Age in Sub Saharan Africa,† n.d.). On the other hand, a second group of archeologists traces the origin of iron in Africa from the surrounding continents and specifically the continent of Asia (â€Å"Early Iron Age in Sub Saharan Africa,† n.d.). In this regard, the archeologists who support this viewpoint indicate that smelting of iron diffused into the continent through Egypt. It is crucial to point out that Egypt is close to the countries in the Arabic area of the continent of Asia. In this case, Egypt received the technology and spread it to the rest of Africa. The interaction of the kingdom of Meroe with the Egyptians is a contributing factor in the spread of iron technology and its crucial role in the evolution of civilization. In this regard, the principal craft for the people of Meroe was using the iron technology to make iron tools (â€Å"Early Iron Age in Sub Saharan Africa,† n.d.). The tools previously used by the people of Meroe were not of superior quality, since the only technology before the use of iron was use of stones or copper. In this regard, iron provided the people of Meroe who engaged in farming and hunting with more superior tools (â€Å"Early Iron Age in Sub Saharan Africa,† n.d.). In effe ct, the new tools ensured that there was more production of food and hunting became more productive. In addition, these superior tools paved way for a stronger army amongst the Meroe since they now had superior tools. In addition, they could capture strong animals like the elephants, which they used during wars (â€Å"Early Iron Age in Sub Saharan Africa,† n.d.). Thus, iron was important to the evolution of civilization in Africa since there were inventions of superior tools used in farming and

Modern operating system Research Paper Example | Topics and Well Written Essays - 1000 words

Modern operating system - Research Paper Example Microsoft’s Windows on the other hand is the opposite and it does not allow the users to bring about the changes in the source code or modify it. Apple Inc itself is a closed source operating system. The open source nature of Android makes it relatively flexible and more appealing towards the programmers. The added advantage of open source operating system is the presence of platforms and online societies supported by the given operating systems developer companies. The open source function provides the respective operating system an edge in the context of software support and software development. Android exhibits support for Linux based kernel, but this is not to be confused with the Linux operating system. The libraries of Android operating system vary considerably from those of the Linux operating system. The use of Dalvik Virtual machine by Android is a characteristic feature of Android which gives it an edge over the contemporary operating systems as well as the Linux op erating system. The run time features include Dalvik as well as the libraries functions support. The Windows O.S kernel has seen considerable improvement in the recent times. It provides features such as System on Chip (SOC) along with the feature of User Mode Driver Framework (UMDF). In the recent times, the Microsoft O.S has come up with a dynamic outlook in the form of user platform and SOC supported kernel. Apple’ I.O.S kernel is a derivate of Unix Based system, however it does not copy or resemble the kernel of Linux or Android for each has its own designated and specific kernel.

Cryptology Essay Example | Topics and Well Written Essays - 2000 words

Cryptology - Essay Example Furthermore, the user of interconnected computers and breakthrough is file and system sharing, make personal information and data even more vulnerable to these threats. At this point cryptology fits in perfectly to address the above issues accordingly. At the base of all internet communication and data security lays cryptology that serves as the foundation to security and data authenticity. Cryptology ensures data and information confidentiality by ensuring in the event that the data in intercepted, the eavesdropper will not understand the content. In addition, Data authenticity is ensured and the message recipient is assured the message is from the correct sender. Finally cryptology ascertains data integrity by providing specific proof that the data or information received is not subject to an alteration by third party. The figure below demonstrates a basic outline of cryptography process (Koblitz 2004). Background Cryptology can be defined as the study of cryptosystems, is simply p ut understanding how to uniquely hide a document or relevant information in plain sight. Normally this involves using a secret encoding that only the intended recipient understands. In a nut shell, cryptography is trying to understand how to pass private information in a public arena which in this case in the internet. This study is further subdivided into two distinct yet similar fields. Cryptography involves the design, creation and implementation of cryptosystems (Bauer 2006). These are the codes and complex formulas used to hide the information before or during data transfer. In addition, cryptosystems also includes measures and mechanisms of incorporating digital signatures in documents. Digital systems basically act as proof of ownership of digital content otherwise susceptible to alterations. On the other hand, cryptology also deals with cryptanalyses which studies the decoding of cryptosystems. Research data analysis and outline Two basic methods were considered for the purp oses of this research. Quantitative research, where collected data is expressed in mathematical figures then evaluated for appropriate results, and qualitative which does not involve figures but rather experiences of participants and the actual data obtained from various sources. In this instance, qualitative analysis best suited thit type of research and was extensively applied. The primary data sources included case studies and direct observation of crypto systems at work. In addition, secondary sources such as books, library articles and the internet provided a reliable reference point. Literature review According to Bauer (2006) cryptography is a field of study where systems and data security meets the power of mathematical functions and equations. Based on his research, cryptology and by extension cryptography offers to the world of security engineering tools that underlie and form the basic and modern security protocols. Buchmann (2004) adds on this analogy through his researc h that offers an insight to cryptography and the techniques involved in cryptanalysis. According to him cryptography is a key to distributed systems security and modern day data integrity. Buchman argues that powerful as it may be, cryptology has often been misconstrued by experts because of the various malpractice associated with it. Cryptography has often been used in the wrong arena to protect the wrong information, and pass illegal messages throughout time. Another

The Future of Londons Museums

The Future of Londons Museums The following research paper investigates the present condition of London’s museums, focusing upon three aspects: their historical development, their present issues and debates, and their strategies for ensuring future survival and prosperity. To ascertain these facts five senior management figures from five leading London museums were interviewed and asked to complete questionnaires discussing the themes mentioned above. The research focuses at much length upon the decision of the present Labour government to introduce free admission to London’s museums and to finance this policy with funds from the National Lottery. Another key aspect of the research was to determine the level of competition posed to London’s museums by European, American and other international museums; further, to discover how London’s museums might raise their performance to match this competition. In addition, another type of competition faced by London’s museums is that of domestic attractions perceived by tourists and the public to be more sensational and exciting than ‘old-fashioned’ museums. Famous examples include the London Eye, Madam Taussards, and the Tower of London amongst others; these attractions fit well with the zeitgeist of modern British youth and it is a major problem for London’s museums as to how they will re-assert their prominence. A third central aspect of the research, viewed both from the sides of museum management and from the government, is the question of the strategies that London’s museums will pursue in the twenty-first century. The survival and success of London’s museums will very much depend upon the decisions made regarding such strategy and its efficacy once put into place. The present research assesses the likely efficacy of such strategies, and the consequences that their implementation will have upon the public’s ‘museum experience’. The results of the research paint double-sided picture: on the side, of optimism regarding the increased admissions figures witnessed since free admissions began, and, on the other side, a gloomy scene dominated by the London museums’ lack of financial support and by the negative consequences of the government insistence of putting attendance figures before a qualitative artistic and cultural experience. Section 1: Introduction Since the foundation of the British Museum almost two hundred and fifty years ago, London has had an international reputation as the museum capital of the world, as the city with the finest collections, the best specialists and the most to offer the fascination of the public. In addition to the British Museum, London can boast the Natural History Museum, the Science Museum, the London Transport Museum, the Victoria Albert Museum and the Theatre Museum amongst numerous other world-class museum-experiences. In their early decades London’s museums flourished through the generosity of private donations and gifts, and through royal and government funding; these ample resources gave museums such as the British Museum unrivalled funds for the construction of magnificent architecture and the gathering of the most splendid specimens and pieces from across the globe. But by the early 1990’s, and reflecting Britain’s changed economic circumstances, London’s museums found themselves in need of considerable new funds to pay for refurbishments and developments so as to keep pace with other museums in the capital cities of Europe and in America. The advent of the National Lottery in 1994, and the terms of its constitution whereby a majority of its funds would go to museums and galleries, apparently offered the very chance to bring about a revival in the fortunes and prosperity of London’s museums. Thus between 1994-2003 more than  £13 billion was given to good causes by the National Lottery and the Heritage Lottery Fund (HLF) (Selwood Davies, 2005: p.3);  £1 billion was given to six hundred museums across the country (Selwood Davies, 2005: p.3). These funds were intended for the construction of new buildings and exhibition halls, and to compensate museums and galleries for the loss of revenue that they would incur once free admission was introduced. A few smaller museums were also enabled to open in London because of grants from the HLF. The next radical step in the recent history of London’s museums came when the Labour Party in their 1997 manifesto, promised that when elected they would introduce free admission into London’s museums a move that it was anticipated would greatly increase attendance from members of the general public. In the event, this prediction turned out to be just right, particularly in the two years immediately succeeding the introduction of free admission. The government minister then in charge of museums in 2001, Estelle Morris, spoke of 2000 as ‘an unprecedented season of openings and flourishing’ (DOC, 2000) for London museums. The year 2000 witnessed nine major construction or refurbishment projects in London’s great museums and a total of  £379 million spent on this ( £193 million of which came from lottery sources) (Selwood Davies, 2005: p.4). The most spectacular of these projects was the construction by Norman Foster of the Great Court at the British Museum costing  £110 million (of which  £47 million was derived from lottery sources) (Selwood Davies, 2005: p.5). All in all, it seemed that the lottery was proving a vital fertilizing force in the rejuvenation and restoration of London’s great museums. This optimism was very clearly reflected in the visitor figures following free admission. In 2001/2002 London museums that had previously received capital funding from lottery sources noticed a staggering rise in visitor numbers of 5.3 million when compared with the 1999/2000 season; in 2002/2003 this figure jumped again to 6.3 million extra visits compared with 1999/2000 (this representing an increase of 89%). In stark contrast London museums that did not receive lottery funding say they annual attendance figure drop by 7% in 2001/02 and 13% in 2002/03 when compared to the 1999/00 season. To take an individual instance, the Victoria Albert Museum witnessed an increase in attendance from 75,773 in November 2000 to 132,882 in November 2001 (this figure even jumped 270% by March 2002). Likewise, attendance figures at the Science Museum rose by 120% and the National History Museum by 74% in the same period (All figures: Selwood Davies, 2005: pp. 6-10). Nonetheless, this stream of incessantly impressive and rising admissions figures masked a major concern unsettling many of the managers and director’s of London’s leading museums. These figures of course welcomed lottery funding as a vital means of rejuvenating London’s museums and making them competitive with museums found in New York, Paris, Berlin and elsewhere. Nonetheless, the advent of free admission introduced at the same time a far greater degree of vulnerability and uncertainty in the financial arrangements and security of London’s museums. It was obvious to museum strategists and directors that a great deal of lottery money would be needed to compensate for the loss of revenue endured once free admission was introduced. Crucially, it would be paramount that lottery contributions of the levels of 2001 would be sustained for the long-term; nothing would be worse that one spectacular year for two of prosperity and massive investment followed by ten or twenty years of under investment and decline. It is recent charge imputed by many museum directors against the government and the HLF directors that they were naà ¯ve in profoundly underestimating the levels of investment that would e required to sustain not only the rejuvenation of London’s museums but merely also their survival. The British Museum alone, for instance, according to its director Neil MacGregor stands to lose  £80 million over ten years from lost revenues and reclaimed VAT. Increased attendance figures are welcomed naturally by all museum directors on the absolute condition that sufficient funds are made available to pay the costs of this increased attendance. Selwood and Davies calculated that since the advent of free admission and 7.3 million extra visitors each of these visitors cost London’s museums on average  £3.56 per visitor  £3.56 extra that has to be found by the museums from non-lottery funding (Selwood Davies, 2003: p.8). Thus free admission has had a bitter sting in its tale, and it may be said that presently a great many of London’s famous museums find themselves in financial difficulties, unable to pay for restorations and improvements; unable to compete with American and European museums for the finest pieces and exhibitions, unable to attract the brightest researchers and curators and ultimately in danger of losing the great reputations that some have nurtured for as long as two centuries. It is clear to all, museum directors and government officials alike, that the present funding arrangements of London’s museums are precarious and that a serious strategy needs to be devised to offer such museums long-term financial security and thus a platform to compete with the other leading museums of the world. This present dissertation conducted interviews, by way of questionnaires with five senior figures from five of London’s leading museums the British Museum, the Science Museum, the Natural History Museum, the London Transport Museum and the V A museum to ascertain their thoughts and attitudes regarding the present state and the likely future state of London’s museums. These senior figures were questioned on their beliefs regarding the lottery funding of museums, on the advent of free admission, on the extent of government funding, on international competition, and on future strategy. The picture that emerges from these interviews is one of profound uncertainty over the future survival and prosperity of London’s museums; buffeted on the one side by the loss of revenue from free admission, and on other sides by the short-fall in promised lottery investment and the present government’s obsession with the quantitative aspect of museum attendance at the expense of the quality of the visitor’s experience. Section 2: Literature Review It perhaps appropriate to preface this literature review with a few remarks about its undertaking. Often when undertaking research that refers to relatively recent events, the researcher finds that the academic world has not yet had time to catch-up in print and publish scholarly books and articles covering these events. With the present research however the proposition was entirely opposite; even though the subjects of lottery funding, free admission and so on are relatively recent, there is nonetheless an abundance of literature dealing with the specific question of the future of London’s museums. The task of the researcher was thus to sift this material so as to isolate its most pertinent and relevant parts. Another unusual aspect of this present literature review is its wide use of government documents and announcements. An overriding theme throughout the present paper is the intimacy of the relationship between the government and museum managers and directors. Naturally, the government perspective upon events is not published through academic books and journals, but by speeches, white-papers, press releases and so on. This research of course made much use of the outstanding museum journals, pre-eminently Curator: The Museum Journal. Of the several articles from this journal used in this dissertation, one was of seminal importance in providing statistical and analytical evidence of the impact of lottery funding and free admission upon London’s museums, this being: S. Selwood and M. Davies (2005) ‘Capital Costs: Lottery Funding in Britain and Consequences for Museums. The article excellently articulates the dilemma that has crept upon London’s museums now that the inadequacy of lottery funding to meet extra visitors numbers has become apparent. There are hints in the above article to possible solutions to the funding crisis facing London’s museums, and these solutions are discussed in greater depth in R. Baron’s ‘Reinventing a State Program for Museum Funding’ (2003). Question marks as to the thoroughness and efficacy in practice of the government’s free admissions policy is raised in several places: Freudenheim’s ‘That Politics Problem’ (2005), Babbidge’s ‘UK Museums; Safe and Sound? (2000) and Sharp’s ‘Controversy and Challenge: British Funding Increases Nationally, But Not to National Museums’ all echo the apprehensiveness and fear felt by many museum directors and staff towards the financial liabilities that would arise in the wake of free admissions (2006). Freudenheim, in particular, highlights a certain naivety in government’s attitude towards the workings of national museums; citing in particular the government’s inveterate insistence upon the increasing of admissions figures no matter what the effects of this upon either museum costs or the aesthetic museum-experience of visitors. The government’s position, and its obvious delight and sense of fulfilment at increased attendance figures since free admission, is given in a number of documents. Principally, the paper London Cultural Capital – Realising the Potential of a World Class City published by the London’s Museums Agency (2004) establishes the governments intentions and strategy towards the future of London’s museums. The paper gives fifteen government policies, under the headers value, access, creativity, and excellence by which the government’s museum strategies will be delivered in future. The government, in association with the National Lottery, has written in several places of its satisfaction at the results of the introduction of the policy of free admissions. In particular, the paper One Year On Visitor Numbers Soaring At National Museums Following Abolition Of Entry Charges published by the Department for Culture, Media and Sport, 1 January 2003 gives a sense of the euphoria and achievement perceived by the government. Also, the paper Two Years On Free Admission to National Museums Draws Even Bigger Crowds again published by the Department for Culture, Media and Sport on 9 March 2003 gives much the same impression. In each of these documents the government stresses its loyalty and commitment to the principle of free admission and to the extension of this principle as far as possible. At the same time, there is little reference in these documents to the nervousness and trepidation felt by museum directors and managers about the future prosperity of the institutions they preside over. It is in this absence of self-criticism, that the reader perceives the origins of the discrepancy between that government’s perception of the financial condition of London’s museums and the reality of their condition. The possible consequences of such as disparity increasing, and of a competition gap widening between London’s museums and those in America and Europe, are well delineated in Cain’s article ‘Museums and the Future of Collecting’ (2005). In short, the extant literature paints the present picture of London’s museums as a time of grave uncertainty with respect to their financial predicament and thus their world-class legacies and reputations. These sources also acknowledge the considerable benefits already brought by lottery funding and free admission, and point also to the great future potential of these schemes; they instil in the reader at the same time a warning that idealism must be checked by pragmatic considerations before London’s museums can attain the future they deserve. Section 3: Methodology The principal method of primary data collection for this research was the interviewing, by way of questionnaires, of several senior figures at five of London’s leading museums. The decision to interview senior management and directing figures, rather than members of the public, had the obvious advantage that the answers obtained would be the specialist opinions of people with an intimate knowledge of the subject matter of the research. Members of the general public, especially those living in London, often show much interest and curiosity towards the subject of the prosperity and fate of London’s museums, but at the same time are not professionals with direct experience of the key debates and consultations. To arrange these five meetings, the researcher wrote fifteen letters to major London museums. Of these fifteen requests for an interview, seven positive responses were returned to the interviewer, of which five eventually furnished the opportunity of an interview. In requesting these interviews letters were sent to the director of each museum, irregardless of the sex, race, or religion of the person. Of the five eventual interviewees, three were men and two women; their ages ranged between forty-one and sixty-three. At the behest of interviewees, all of whom preferred to speak off the record due to the sensitivity of many of the issues of discussion, neither their names nor their titles are given in the final publication of this research. Thus, in the transcripts presented in the appendix of this research, each of the five interviewees are referred to as ‘a senior figure’ and ascribed a coded number following the simple scheme 001-002-003-004-005. This sensitivity, arising from the various present tensions over funding between London museums, the HLF and the government, clearly raises certain ethical questions about the present research. Above all, is it permissible to expose senior figures to possible embarrassment or worse, for the sake of the findings of this research. In answer to this question, the present researcher would say two things: firstly, that explicit consent for every interview was obtained by the researcher before the commencement of each interview, thus all interviewees participated at their own volition; secondly, following Utilitarian principles of seeking ‘the greatest good for the greatest number’, the researcher decided that the possible positive benefits and improved public understanding of the topic that might arise from this research could justify the slight ethical risks associated with the carrying-out of this research. It is a belief of the researcher that by informing the academic community and the public of the chief issues and controversies now affecting London’s museums, that the debate generated from this knowledge will lead to greater consideration on all sides being shown towards the preservation and improvement of London’s world-famous reputation as a museum centre. A number of criticisms may be levelled at the methodology discussed in this section. Firstly, it might be asked, with some justification, whether or not the interviewing of only five museum figures can produce results characteristic of attitudes and opinions of London’s museums as a whole. Naturally, critics might ask how the researcher can infer from the collection of five opinions general trends governing the many hundreds and thousands of senior figures working for the management of London’s museums. Likewise, why does the report interview exclusively figures from museum management and not from the government or from the National Lottery? In response to the first question the reply must be that with limited resources and limited time, it seemed most prudent to the researcher to restrict the field of investigation to a narrow focus, where the results obtained could be subjected to a significant scrutiny and analysis something which resource constraints would have rendered impossible had the field been extended much wider. Moreover, whilst only five persons were interviewed, these figures preside over London’s five largest museums which between them see greater attendance figures and government investment than all of London’s other museums combined. Thus the opinions of the figures interviewed actually are far more representative of London as a whole than would first appear likely. In response to the second question, a similar answer might be given: only museum directors were interviewed because they are the persons with the most intimate knowledge of the matters under discussion. If the present researcher were in future to extend the present research, then the opinions of others outside of museum management would certainly have to be included. As it was, the present report incorporates sufficient expert opinion, to make its findings relevant to the better academic and public understanding of the issues affecting the future of London’s museums. Section 4: Results Analysis The aim of the present research was to investigate the likely future of London’s museums; this research was undertaken by way of interviews with five senior figures from five leading London museums. From the information gained from the literature review undertaken by the researcher it seemed most appropriate to question these museum directors on five main subjects: lottery funding, the advent of free admission, international competition, future strategy and the employment of new researchers and curators. The expectation of the researcher was that the general opinion of these senior figures would have initially been one of welcome to the proposed lottery funding, but that this initial welcome would have turned to mild scepticism in the wake of free admission and the provocation of severe uncertainty following the extra costs incurred by increased visitor numbers and lesser-than-expected lottery investment. What opinions then did these results produce in actuality? (1) Lottery Funding. The five interviewed senior figures unanimously (5 of 5) welcomed the original government proposals to aid London’s and Britain’s museums through funds made available by the national lottery. Museums such as the British Museum, with its newly built Great Court, was given considerable lottery funding amounting to  £47 million (Selwood Davies, 2003: p.3). Museum directors were quick to concede that such developments would have been impossible without these lottery funds or an extremely large, but unlikely, private donation. In short, museum directors were united in their praise for proposed lottery investment. (2) Free Admission. The chief feature of the respondents’ answers to questions posed about free admission were twofold: on the one hand, respondents welcomed the opportunity to open their doors to ever greater numbers of people, thus disseminating cultural and scientific experience as far as possible; on the other hand, words such as ‘apprehension’ and ‘scepticism’ were used liberally by nearly all of those interviewed. What most strongly prompted this apprehension was the ‘twining’ of free admission introduction with the compensation for lost revenue by lottery funding. Directors confided that when allowed to charge admission fees their museums did at least have a degree of self-sufficiency and so could determine their own future strategies and successes. But lottery funding conditioned by the introduction of free admission policies has subjected London’s museums to a profound financial vulnerability and loss of independence. These museums, now depend upon the HLF for often as much a half of their income; if controversies or difficulties arise with the lottery directors or with the ministers directing them, then the museums are forced to abide by outside instruction and policy. Moreover, the great fear that lottery investment would not be sustained appears to have come true for all of the five museums whose for whom senior figures were interviewed for this research. So too, insufficient lottery funding has been made available to compensate for the extra costs incurred by the vastly increased visitor numbers experienced after the introduction of free admission. Interviewees hinted at a certain naivety and lack of preparation on the part of ministers and lottery managers with respect to the projected visitor increases following free admission and the costs that would be incurred by this. (3) International Competition. On the question of international competition there was further unanimity of opinion amongst the senior figures interviewed. Each respondent vigorously asserted that the collections of the museums he or she presided over as a manager were the equal of any equivalent museum anywhere in the world. Managers from the British Museum and the Natural History Museum, not to mention others, could rightly boast that their reputations were pre-eminent amongst international museums. At the same time, three of the figures interviewed (the exceptions presided over specialist museums with little international competition) confided that many American and European museums simply had far better funding and so purchasing-power than their own London museums. For the immediate future, this gap will mean that these international museums will continue to purchase new pieces of exceptional public interest whilst London’s museums will have to remain content with their exi sting impressive but static collections. In the medium- and long-term future, if this purchasing disparity continues then a qualitative difference will emerge ever more clearly between the museums of London and those of America and Europe. (4) Recruitment. When embarking upon the present research the researcher did not anticipate that ‘the difficulty of recruiting new researchers and curators’ would be a major concern to London’s museums regarding their futures. Nonetheless, as the searching through the literature review proceeded and as the topic came into better perspective this problem seemed to be a central concern for several of the major London museums. Specialist museums like the V A and the Theatre Museum do not, according to results, face such problems; but senior figures from the Natural History Museum, the British Museum and the Science museum may all face crises over recruitment in the near future. According to these figures the recruitment of new staff has been a subject neglected by the government in their ceaseless quest for higher admission figures and in ‘measuring the value’ of a museum-goers’ experience. The science museum can no longer attract top scientists and researchers because they are paid so little:  £20,000 as a starting salary, peaking at  £50,000 ( ). Commercial companies and American museums offer far better salaries and improved facilities. If this ‘brain-drain’ continues for much longer, then it may prove to be the greatest of all dangers to the future prosperity of London’s museums. These institutions are sustained not only by their pieces and specimens, but by the care and expertise of their curators and other staff; it is this expertise and the respect that arises from it that gives these institutions their world-class reputations. If this expertise evaporates, then no amount of increased admission or funding or improved strategy will protect the legacies and future prosperity of London’s museums. But towards the re-capture and enticement of these experts the government and the lottery fund seem somewhat blinded; given the extent to which London’s museums now rely upon government funding, it is precisely with the government that the responsibility lies for providing sufficient funding for home-grown and international experts to crave as they used to the opportunity to work in the prestigious museums of London. (5) Future Strategy. The senior figures interviewed for this research are nearly as one when they declare that future strategy has to be built around the attainment of financial stability; this is to be sought through an improved, more efficient and more effective relationship with the government and the HLF. A better balance has to be struck between the government’s ardent desire for ever increased admissions and the practical and pragmatic methods by which these extra admissions, dragging with them their extra costs, will be paid for. If a resolution and balancing is not achieved here then the obvious and inevitable path down which London’s museums must slide is that of ever greater debt and so lesser purchasing-power for new pieces and so a general decline in the standing and reputation of London’s museums. The reality of this predicament is brought home, even as this dissertation is written-up, by the announcement today of the London Theatre Museum (BBC, 2006) that they face imminent closure unless a major cash injection from the lottery fund is received. The alternative strategies are these: firstly, an abrupt about-face by the museums whereby they begin to charge for admission. This path is unattractive as there are numerous legislative, ethical and civil obstacles to this policy’s reinstatement. Another alternative is increased public funding from a source other than the lottery; this however looks most unlikely in the short-term. Thus, setting aside the remote chance that a massive private donation will save them, museums must, in their strategising come to agreement with the government about how extra funding from the lottery may be obtained. In short, the results obtained from this present research point to two things: firstly, that senior figures from the five museums interviewed welcomed in general lottery funding as a means to achieve rejuvenation and restoration; secondly, that this optimism changed to apprehension and tentativeness once it became clear the extent to which lottery funding would be dependant upon free admissions policies. Thirdly, it is obvious from all the interviews, that London’s museums are at a cross-roads and a defining moment in their illustrious history. To the left, is the danger of an ever greater financial disparity caused by increasing visitor figures and inadequate lottery funding; to the right is offered a sound financial structure that will ensure the continuation and prosperity of London’s museums’ world-class reputation. Section 5: Conclusion In the final analysis, it seems most appropriate to say that London’s museums are now at a seminal moment in their historical development a moment of both opportunity and precariousness. The opportunities promised by massive lottery funding at first seemed likely to engender a great rejuvenation of London’s museums; indeed, this new source of funding promised to keep London’s museums competitive with the other great museums of the world for the foreseeable future. The advent of free admission was met with both tentativeness and warmth by the senior figures interviewed by this researcher; apprehension because free admission, and thus loss of revenue from admission charges, meant a far greater degree of dependence upon the government and the LHF and thus greater financial uncertainty. If the new relationship between lottery funding and free admission worked in practice as some had suggested in theory that it would, then London’s museums would have a bright and perhaps glorious future. If, on the other hand, the organization and administration of lottery funding was inadequate or improperly practised then a disparity would open between increasing admissions numbers and the ability of museums to pay the extra costs of these visitors. In the event, both expectations and fears were realised by the introduction of free admission in London’s museums. As the figures cited throughout this dissertation attest, visitor figures rose spectacularly in the wake of free admission. Greater numbers of the British general public and international visitors than ever before were able to receive the cultural and scientific treasures of London’s great museums. Nonetheless, once the honeymoon period had waned, it became clear to many museum managers and directors that insufficient lottery funds were being supplied to compensate for loss of revenue incurred after the dropping of admissions charges and after the increase of visitors also from this policy. In the years since free admission was introduced, London’s museums have acquired ever greater deficits on t