Essay on Independence Issue in Hih Case

Date back to 1960, a Hungarian immigrant Larry Adler founded an insurance company named FAI Insurance. After he dead in November 1988, his son Rodney Adler was inherited the company become Executive Chief by the board of FAI Insurance. After struggling in the stock market crash 1987, in September 1998 HIH Insurance has takeover bid $280 million cash and shares of FAI Insurance without due diligence. After that, HIH sold out FAI’s assets, several companies and one hotel in New York about $450 million. At that time, Adler became a director of HIH. However, after a magnate loose in both London and US insurance, HIH almost collapse in March 2001. In that situation, HIH try to sell FAI business to get much-needed cash. It’s sold $320 million to

After the French and Indian war Americans started to sever ties with England. Americans declared independence from England when was the unfair taxation, rights being taken away, military, and religious ideas. This allowed the colonist to break away from England and declare their independence. First, one of the major factors was the taxation of the American people. George Glenville was the prime minister of England.

Independence of the United States in 1776 to present day, the United States was and is the face of democracy. The United States takes pride in doing everything possible in order to maintain its democracy, but at times uses this facade to justify the looting of resources, such as oil. The international role of the United States should be to help (not force) countries maintain democracy by aiding democratic leaders rather than ignoring oppressive rulers, but should not use the guardian of democracy title to bad use which in turn stuns economic growth for other countries. The United States takes pride in its guardian of democracy role throughout history. The underlying reason for this role is primarily the spread of communism to weaker countries by corrupt and

Without a question the BOD should have placed a high degree of reliance on Andersen, which at the time was one of the most prestigious worldwide accounting firms. The auditors should have known the kind of accounting taking place in Enron. In my opinion, Andersen knew, at least to some extent, the company’s financial condition. However, Enron was already too deep under water that blowing the whistle so late would have created problems for Andersen as well. According to the case, on 02/05/01, Andersen held internal meeting during which it addressed the company’s accounting from and oversight of the LJM partnership. Andersen never discussed these concerns with the Audit and Compliance Committee. Although the BOD has its faults, it should have been able to rely on Andersen’s work.

Colonists throughout the colonies went into a period of opposing their motherland, England. The main victims blamed for the colonists views of opposition was King George III and the British Parliament. Both advocated legislation that would affect the colonists to a point of revolution. The legislation supported the main reason for independence, but other factors play a role as well. Aside from the economic grievances, factors like political philosophy, propaganda, and social rank drove the colonists to independence from Great Britain.

In the sixteenth century the Continental Congress confirmed that the purpose of the Revolutionary war was fighting for independence from Great Britain. Prior to this revelation, the war's purpose was of a defensive nature; this declaration was a monumental adjustment for the colonists since it meant the thirteen colonies would now become a new country. However, with the divide from England, Americans had to choose sides; resulting in a civil war. This paper will illustrate the determining factors of fighting for independence or staying loyal to England; through several lenses including gender and race.

Arthur Andersen (AA) contributed to the Enron disaster when it has failed to the management by failing to have Enron establish and enforce its own internal control. There has been flaws to AA‘s internal control. There has been assumption that AA partners were too motivated by revenue recognition thus, overlooking several criteria when providing their services to Enron. Additionally, AA also recognised the retention of audit clients as vital and a loss of any clients would be disadvantaged to an auditor’s career. In AA internal control, the person who is able to make most of the decisions is the person who is most concerned about the revenue or losses of the client’s company.

Living in the Independent Constitution today is great for all of us. Independence Day is a representation of what the United Stated now is. The government and President work for the people not the other way around. The Civil Rights movement resulted in our modern change of rights for all races. Independence usually that comes at a cost in order to truly be achieved and helpful to the people. The Constitution was made to help mankind achieve new possibilities.

As time went on, colonists’ hatred for England continued to grow stronger. Between the harsh taxes, and the lack of representation in England, the colonist felt that they were just being used for their money. The colonists ideal country was one in which they could have a say in government. Although America’s war for independence from England was driven by a desire to escape the oppression of a centralized government, they soon realized that centralization of power was necessary to effectively govern the newly independent country.

Andersen – Although Enron committed the fraud, Andersen allowed Enron to get away with it. An audit firm has to be independent from their client and act in the best interest of the public. For this reason, I think that Andersen was the most responsible for the Enron crisis. Andersen could have declined continuing their relationship with Enron as their client, considering some Andersen representatives did not agree with Enron’s “aggressive” accounting and financial reporting decisions in the early months of 2001. Andersen also assisted Enron in restructuring some of the SPEs so they would still be considered unconsolidated entities. Andersen not only audited Enron, but they also went beyond the scope of what the quality audit should entail. It was also telling when personnel in the Houston office destroyed documents related to Enron and

The Causes of Indian Independence in 1947 In 1947 India was declared an independent country from Britain, after years of peaceful and violent protests, pressure from all sides, and numerous promises. Not only this, but Pakistan was also formed by partitioning the country into two, providing a separate homeland for the Muslims of India. Although independence was greeting with relief from all, partition came with riots, millions of murders and a hatred between countries that has not healed up even by today. The word "inevitable" in the essay title implies something which was almost 'destined' to happen from the beginning, and the course of action could not be averted under any circumstances.

For purposes of this question, assume that the excerpts from the Powers Report shown in Exhibit 3 provide accurate descriptions of Andersen’s involvement in Enron’s accounting and financial reporting decisions. Given this assumption, do you believe that Andersen’s involvement in those decisions violated any professional auditing standards? If so, list those standards and briefly explain your rationale.

Lindberg and Beck (2002) claim that auditor independence is hailed as the “cornerstone” in the accounting profession as it is the core reason as to why the public trusts their professional opinion. However, since 2000, many accounting fraud scandals have negatively impacted public opinion on the legitimacy of the audit profession and, if in fact, its independence is uninfluenced by other parties. One of the scandals being the sudden collapse of Enron, given that a few months prior its bankruptcy its auditors Arthur Andersen, which was one of the five largest audit and accounting firms, claimed that Enron was financially healthy, but in fact they were paid off

Needed for the Houston office of Andersen, an audit partner that understands the role of being a "public watchdog" with "ultimate allegiance to the creditors and shareholders" . Arthur Anderson abandoned its roles as independent auditor by turning a blind eye to improper accounting, including the failure to consolidate, failure of Enron to make $51million in proposed adjustments in 1997, and failure to adequately disclose the nature of transactions with subsidiaries . Another example is Lord Wakeham joined Enron as a non-executive director in 1994 and also sat on Enron's audit and compliance committee. In addition, Andersen also provides internal audit service to Enron, which in fact impact

The lack of independence for external auditors will lead to the neglect of auditing risks (William R.K., 2003), which are the main reasons for the failure of certified accountants and professional accounting organizations. The consequence of the external auditors deprived of independence would be very serious. And there are many cases, which aroused by the failure of external auditors and most are related to the lack of independence. One famous example is the bankruptcy of Enron and the role played by its external auditor, Arthur Andersen (Todd, S., 2003). Arthur Andersen was once one of the biggest accounting companies in the world, and was canceled for the involvement in the Enron bankruptcy scandal.