49 research outputs found
The Application of Business Risk Audit Methodology Within Non-Big-4 Firms
This research is motivated by interest in recent changes in the audit approaches of audit firms. The business risk audit approach has been adopted based on assertions about its benefits by administrators of large audit firms and academics linked with these firms and, more recently, has been legitimised by the issuance of international auditing standards that give recognition to this approach. Studies investigating the business risk audit approach have relied on the content of audit manuals of large audit firms and pointed to claimed benefits, such as providing consistency of worldwide audit practice, broadening auditors’ awareness of risks, increasing audit effectiveness and efficiency, and creating more value for audit clients.
In investigating this recent change in audit approaches, this thesis is concerned with the application of the business risk audit approach within the non-Big-4 audit firms, with a focus on three countries: the United States, the United Kingdom and Canada. The research focuses on the motivation for adopting this approach for non-Big-4 audit firms in the three countries, and the advantages, disadvantages and aftermath of applying this method. These issues are addressed through research methods comprising semi-structured interviews and a questionnaire survey. These methods are deemed appropriate to provide consideration of the contextual factors affecting the non-Big-4 audit firms and audit practice in the three countries examined.
The findings show that non-Big-4 audit firms in the three countries adopted the business risk audit; their motivation was primarily to follow the standards in each country and to follow the general trend in the industry. The advantages were consistent with previous research; there was direct benefit to audit effectiveness and risk management. One major disadvantage of applying this method was the cost burden to both the audit firm and their clients. Some of the interviewees claimed that this method is better suited to large firms and large audits. Overall evidence from this research shows that this method helped auditors better understand their clients and assess the risk associated with the audit process. Auditors from non-Big-4 firms expressed their interest that the business risk audit should remain in use with some modification to fit small and medium audits. This study also contributes to the literature on the internationalisation of audit practice and the audit practice of small- and medium-sized audit firms, which is lacking in existing research related to this group
The Impact of Credit Risk on the Profitability of Banks Listed on the Palestine Exchange
This study seeks to analyze the impact between credit risk and the profitability of five banks on the Palestine Exchange. Profitability was measured by return on equity and return on assets while credit risk was measured by net charge-offs to total loans and advances, non-performing loans to total loans and advances and pre-provision profit to total loans and advances. Other variables like bank size, leverage and net income growth were included to account for their effects. The study found a weak but positive relationship between credit risk as measured by non-performing loans to total loans and advances and profitability as measured by return on assets. The study also found that bank size was positively related to profitability. Keywords: Profitability, Credit Risk, Palestine Listed Bank
Predicting the Financial Distress of Non-Banking Companies Listed on the Palestine Exchange (PEX)
The Palestine economy is prone to challenges arising from turmoil. The nature of its socio-political climate makes it important for investors to critically review the going-concern status of the companies they invest in. Therefore the purpose of this study was to determine the likelihood of non-banking companies on the PEX of going into bankruptcy. The research used data from the financial report of 41 non-banking companies on the PEX grouped in categories of Industry (12), Insurance (7), Investment (10) and Services (12). The reports were for the year ended 2014. Altman’s Z-Score model was used to classify the companies in the various levels of financial position – safe, grey and distress. The study showed that a total of 52% of the total non-banking companies were in financial distress, 24% were in the grey zone and 24% in the safe zone. A sector-by-sector analysis showed that insurance companies were the most likely to file for bankruptcy, then services, investment and industry in that order. Keywords: Financial Distress, Altman Z-Score, Bankruptcy Prediction, Palestin
New distributional record of two species for the flora of Assam, India
Peliosanthes bipiniana D. K. Roy, N. Odyuo & N.Tanaka (Asparagaceae), an endemic plant and Begonia limprichtii Irmsch. (Begoniaceae) are recorded herewith as new distributional record for the flora of Assam. Morphological descriptions, phenology, taxonomic notes and field photos along with distribution map are provided for easy identification in the field
The application of business risk audit methodology within non-Big-4 firms
This research is motivated by interest in recent changes in the audit approaches of audit firms. The business risk audit approach has been adopted based on assertions about its benefits by administrators of large audit firms and academics linked with these firms and, more recently, has been legitimised by the issuance of international auditing standards that give recognition to this approach. Studies investigating the business risk audit approach have relied on the content of audit manuals of large audit firms and pointed to claimed benefits, such as providing consistency of worldwide audit practice, broadening auditors’ awareness of risks, increasing audit effectiveness and efficiency, and creating more value for audit clients. In investigating this recent change in audit approaches, this thesis is concerned with the application of the business risk audit approach within the non-Big-4 audit firms, with a focus on three countries: the United States, the United Kingdom and Canada. The research focuses on the motivation for adopting this approach for non-Big-4 audit firms in the three countries, and the advantages, disadvantages and aftermath of applying this method. These issues are addressed through research methods comprising semi-structured interviews and a questionnaire survey. These methods are deemed appropriate to provide consideration of the contextual factors affecting the non-Big-4 audit firms and audit practice in the three countries examined. The findings show that non-Big-4 audit firms in the three countries adopted the business risk audit; their motivation was primarily to follow the standards in each country and to follow the general trend in the industry. The advantages were consistent with previous research; there was direct benefit to audit effectiveness and risk management. One major disadvantage of applying this method was the cost burden to both the audit firm and their clients. Some of the interviewees claimed that this method is better suited to large firms and large audits. Overall evidence from this research shows that this method helped auditors better understand their clients and assess the risk associated with the audit process. Auditors from non-Big-4 firms expressed their interest that the business risk audit should remain in use with some modification to fit small and medium audits. This study also contributes to the literature on the internationalisation of audit practice and the audit practice of small- and medium-sized audit firms, which is lacking in existing research related to this group.EThOS - Electronic Theses Online ServiceGBUnited Kingdo
Perioperative management of awake craniotomy: Role of anesthesiologist
Awake craniotomy is performed for resection of lesions located within or close to the eloquent areas of the brain. Both asleep-awake-asleep technique and conscious sedation have been used effectively for awake craniotomies, and the choice of optimal anesthetic regime is mainly as per the preferences of the anesthesiologist and surgical team. Propofol, remifentanil, dexmedetomidine, and scalp nerve block have been used successfully for intraoperative brain mapping. Appropriate patient selection, adequate perioperative psychological support, and proper anesthetic management for patients in every stage of surgery are essential for the safety and success of the surgery
Jordan Banks Financial Soundness Indicators
The aim of this research paper is to examine the Jordanian banks using financial soundness indicators. This is to establish if Jordanian banks were affected because of the 2007/2008 financial crisis and determine the underlying reasons. The research paper was conducted on 25 banks in Jordan listed in the countries securities exchange. The research methodology used consisted of examining the banks financial records in order to derive four crucial Basel III ratio such as the capital adequacy ratio, the leverage ratio, the liquidity ratio and finally the Total Provisions (As % Of Non-Performing Loans) %. The results revealed that out of the four hypotheses under examination Jordan Banks do not meet Basel financial Indicators for Capital Adequacy Ratio, Jordan Banks does not meet Basel financial Indicators for Liquidity Ratio , Jordan Banks do not meet Basel financial Indicators for Leverage Ratio and Jordan Banks do not meet Basel financial Indicators for Total Provisions (As % Of Non-Performing Loans) ratio. Only one hypothesis was accepted based on the research outcomes. The rest of the hypothesis was rejected since the average trend line did not go below the Basel III required ratio level. The general outcome of the research revealed that Jordanian banks were not affected significantly by the financial crisis
Research of process water of a thermal power plant
The article is devoted to the study of technical water used in thermal power plants. One of the devices of thermoelectric plant are heat exchangers, heat exchangers consist of pipes of different diameters. Heat exchangers used in production plants are made of carbon steel, suitable for high temperatures (up to 565 °C). At the same time inside the heat exchangers used for a certain period of time, a scale is formed in the form of a solid sediment, which reduces the thermal efficiency of heat carriers. Therefore, in this paper, the object of research are the heat transfer fluids of industrial heat exchangers, namely feed and process water. In order to obtain feed water at industrial thermal power plants, special water treatment processes are carried out. That is, its main purpose is to prevent the formation of solid deposits in heat exchangers. The studied water samples were taken directly from the thermal power plant from different stages of water treatment, i. e. raw water entering the chemical shop, treated water entering the deaerator, feed water entering the boiler. As a result of the study, water samples related to the formation of scale on the surfaces of heat exchangers, i. e. dosed amounts, elemental composition and particles were studied. During the study, hourly, daily and monthly dosages of reagents were determined. In addition, the elemental compositions of raw water, pure water and feed water of the thermal power plant were investigated. The results of this study allow to explore ways of economical and effective descaling formed in heat exchanger