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Essay / Research Paper Abstract
This 5 page paper discusses the changing role of the auditor and the ways in which public policies are changing to provide a system of accountability. Bibliography lists 7 sources.
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5 pages (~225 words per page)
File: D0_MBaudit.rtf
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its own figures based on the facts. The role of the audit, as a result of abuses, will include, unfortunately, formal disclosures of the firms dealings with the company they
audit, and quite possibly a whole host of paperwork and documentation to support the findings of the auditor. With millions of dollars at stake, the ante has just increased. Are
there any alternatives? It can be said that times are changing, and so, too, with them is the role of audits in
public policies. However, an audit, while generally being reviled, are actually helpful tools for growing industries. Most companies have shifted to a results based type of environment which necessitates a
vehicle for providing quick and reliable feedback on performance. Types of feedback that can be provided include assessing the performance of individual parties against a standard or criteria, as well
as providing a candid look at the standard itself. Additionally, most experts predict that as the paradigms shift from process based to results based increasingly companies will rely on the
audit(Abdel-khalik 1993, pg 31-52). Recently, there has been much attention given to the Enron, Inc. situation. The effects of the collapse of the
company have had, it might be said, a ripple effect, which have affected even those who do not own shares in the company. Many are blaming the internal auditors for
not catching the mistakes, for not informing the administration, and it brings to question the ability of an auditor to be completely independent. Perhaps, if Enron is anything at all,
it is an example of what may occur if the independent auditor is not truly independent. Given this, then, are there alternatives to which companies might turn?
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