Functionalist View on Same-Sex Families Essay - 1162 Words

Functionalist View on Same-Sex Families What is Functionalism? Functionalism is the belief that members of society form relationships with each other through rules and regulations i.e. the law. They also believe society is based on a consensus and there is no time for conflict, although it is acknowledged but is seen as only a temporary disturbance, which can be resolved. They believe it is the basis of social life without it there would be conflict and disorder. Society is seen like the human body, institutions within society playing a significant role to ensure its upkeep like schools. These institutions are what influence societies members on social behaviour. They see the family as how†¦show more content†¦according to the beliefs of the New Right. So therefore from a functionalists point of view same-sex relationships are what theyd call a temporary disturbance. So their solution is to have it challenged through the legal system. What is the traditional family then? The traditional family is seen as the basis of a nuclear unit, mum, dad and kids! So how do we define a family in the 21st Century? There are still a lot of families all over the world that conforms to what society expects. But there is a rise in alternative families. So, in what we call the real world a family can be defined as a range of social, cultural, economic and symbolic meanings. There are several variations on what a family could be; it doesnt always follow the basic nuclear family. I think the definition a 21st Century family would be: A household in which 1 or 2 adults who have a loving and committed relationship raise their children. How does society treat the underclass? In todays society same-sex couples are becoming more and more common, and they contribute just as much to society as the average heterosexual couple. So why is it so hard for same-sex families to live like everyone else? Because society disapproves. During my research on theShow MoreRelatedAssess the Functionalist View of the Family.1031 Words   |  5 Pages‘Assess the functionalist view of the family?’ Functionalist looks at society on a macro level. It is a consensus theory and structuralists prefer to use functionalism as it agrees with their ideals and models and they prefer to look at society as a whole. Functionalists are interested in studying what family is most functional. This essay will assess how functionalists view point of the family by exploring Murdock, Comte, Parsons and Durkheim, the founder of functionalism, ideas and evaluatingRead MoreFunctionalist Perspective On Society As A Macro Institution1056 Words   |  5 PagesThe functionalist perspective In this essay I will outline and evaluate the functionalist perspective. This will include exploring the origins of the perspective, while explaining and evaluating how functionalists see society as a macro institution, rather than its many constituent parts. Further to this I will explore how functionalists deem the way society should be maintained and organised to maintain a functionalist’s ideal society. The consensus perspective is predominantly concerned with theRead MoreOutline and Evaluate Functionalist Views of the Role of the Family in Society.1570 Words   |  7 PagesOutline and evaluate Functionalist views of the role of the family in society. [33 marks] Functionalism is a structuralist theory; this meaning that it sees social structure (the social organisation of society) as more important than individuals. Functionalist sociologists believe that people have a range of basic needs that must be met if society is to run smoothly. Different groups and individuals in society are important because they perform certain functions which meet societys needs. FunctionalismRead MoreUsing Material from Item 2b and Elsewhere, Assess the Marxist View That the Main Role of the Family Is to Serve the Interests of Capitalism993 Words   |  4 Pagesdifferent idea on what the main role of the family is. As Item 2B says, â€Å"Marxists see all social institutions as serving the interests of capitalism.† This includes the family, and they say that it serves the interests of capitalism by maintaining and justifying class inequality and exploitation by the rich. Other groups, however, have different opinions, such as Functionalists who think tha t the family performs essential needs of society. Marxists and Functionalists opinions are completely contrasted,Read MoreAssess the Contribution of Functionalist Sociologist to Our Understanding of the Family701 Words   |  3 Pagescontribution of functionalist sociologist to our understanding of the family Functionalists believe that society is based on a value consensus into which society socialises its members, which enables to cooperate harmoniously and meet society’s needs and goals. Functionalist’s sees that society is made up of a range of different sub-systems which depend on each other, and that society needs these functions or order for survival and is vital towards society. Functionalists see the family as a very importantRead MoreAssess the View That the Nuclear Family Functions to Benefit All It Members and Society of a Whole1216 Words   |  5 PagesAssess the view that the nuclear family functions to benefit all its members and society as a whole. A nuclear family is universal and is defined as a two generational grouping; consisting of a father, mother and their children, all living in the same household. The idea of the nuclear family was first noticed in Western Europe in 17th century. The concept that narrowly defines a nuclear family is essential to the stability in modern society and has been promoted by modern social conservatives inRead MoreSocial Policy Essay1105 Words   |  5 PagesExamine the way in which laws and social policies affect family life From the 19th Century onwards the government have introduced different social policies in attempt to shape family life in Britain, to make it better for all family members, rather than only focusing on the traditional patriarchal Nuclear family. In 1963 the equal Pay Act was introduced, meaning that pay based on sex was abolished and men and women became more equal. This social policy created a higher standard of living as bothRead MoreOutline and evaluate the view that families in the UK are increasingly diverse (33)1467 Words   |  6 Pagesthe view that families in the UK are increasingly diverse (33) Families are becoming increasingly diverse in the UK because of changing norms and values in society. Postmodernists highlight that people are free to choose the family type that suits them best therefore allowing for harmonious relationships in society. On the other hand Functionalists are against family diversity and argue that a family that does not fit the nuclear model creates instability. A traditional view of the family is heldRead MoreFunctionalist View Of The Family1473 Words   |  6 Pagesthe family as it was so functional. He argued there were four essential functions, without these society would not survive: sexual, reproductive, economic and education. Without sex and reproduction there would be no new members, without economic and education, the family providing for its members, the young socialised to norms and values, cultures would not exist. In the absence of this human society would cease (Haralambos and Holborn, 2008). 83 Evaluate the functionalist view of the family by referringRead MoreFunctionalist View of the Family1317 Words   |  6 Pagesusefulness of the functionalist view for an understanding of the family today? Functionalism is a structural theory. In functionalism, social institutes like families are the key parts of the structure/system. These institutions are seen as working in an integrated way that keeps society in a state of consensus. Functionalists stress the positive role of a family for society and its members. They argue that the families’ role is universal and functional. A famous functionalist, called Murdock believed

Advantages and Disadvantages of Genetic Engineering Essay Free Essays

string(83) " It is possible to alter the genetics of wheat plants to grow insulin for example\." Genetic Engineering: Advantages and Disadvantages essay. During the latter stage stages of the 20th century, man harnessed the power of the atom, and not long after, soon realised the power of genes. Genetic engineering is going to become a very mainstream part of our lives sooner or later, because there are so many possibilities advantages (and disadvantages) involved. We will write a custom essay sample on Advantages and Disadvantages of Genetic Engineering Essay or any similar topic only for you Order Now Here are just some of the advantages : Disease could be prevented by detecting people/plants/animals that are genetically prone to certain hereditary diseases, and preparing for the inevitable. Also, infectious diseases can be treated by implanting genes that code for antiviral proteins specific to each antigen. Animals and plants can be ‘tailor made’ to show desirable characteristics. Genes could also be manipulated in trees for example, to absorb more CO2 and reduce the threat of global warming. Genetic Engineering could increase genetic diversity, and produce more variant alleles which could also be crossed over and implanted into other species. It is possible to alter the genetics of wheat plants to grow insulin for example. You read "Advantages and Disadvantages of Genetic Engineering Essay" in category "Essay examples" Of course there are two sides to the coin, here are some possible eventualities and disadvantages. Nature is an extremely complex inter-related chain consisting of many species linked in the food chain. Some scientists believe that introducing genetically modified genes may have an irreversible effect with consequences yet unknown. Genetic engineering borderlines on many moral issues, particularly involving religion, which questions whether man has the right to manipulate the laws and course of nature. Genetic engineering may be one of the greatest breakthroughs in recent istory alongside the discovery of the atom and space flight, however, with the above eventualities and facts above in hand, governments have produced legislation to control what sort of experiments are done involving genetic engineering. In the UK there are strict laws prohibiting any experiments involving the cloning of humans. However, over the years here are some of the experimental ‘breakthroughs’ made possible by genetic engineering. At the Roslin Institute in Scotland, scientists successfully cloned an exact copy of a sheep, named ‘Dolly’. This was the first successful cloning of an animal, and most likely the first occurrence of two organisms being genetically identical. Note : Recently the sheep’s health has deteriorated detrimentally Scientists successfully manipulated the genetic sequence of a rat to grow a human ear on its back. (Unusual, but for the purpose of reproducing human organs for medical purposes) Most controversially, and maybe due Essay topic: advantages and disadvantages of genetic engineering. Discuss The development of genetic engineering has increased notably in the last few years. Some people support the investment in this field whereas others are against to. In this essay I shall delve into both sides before forming an opinion. Genetic engineering is the process of manipulating the genes of an organism. People supporting it use argue that for instance farmers could have crops more resistant to insects and diseases, and many genetically modified crops can grow faster. These advantages can be extremely positive for food production in developing nations where people starve. Faster growing cereals, fruits and vegetables would mean more profit. Moreover, some medicines and vaccines are obtained throw genetic engineering process. An important breakthrough that genetic engineering can bring to society is that some inherited diseases would no longer exist. Some genes can be modified before a baby is born improving its life expectancy. It could be said then that genetic engineering might cure some diseases. However there are ethical concerns about it use. Some ecologists warn about the disaster consequences to the Earth. They say that genetically modified crops can affect seriously whole ecosystems as the food chain can be broken if crops are more resistant to predators. Furthermore, some people are strongly against to human genetic engineering as parents might want to choose their children’s characteristics. They support this argument saying that it would be unnatural and in some religions would be unacceptable. Society an human evolution would change completely. To sum up, both sides have strong arguments to support their opinions. As far as my opinion is concerned genetic engineering can bring to humans longer and healthier lives. However there is a thin line between what is ethical and what not What are the disadvantages of genetic engineering? * 5 years ago Best Answer  Ã¢â‚¬â€œ Chosen by Voters 1. probably it would be costly 2. a single mistake has devastating repercussions 3. it borders on the issue of ethics and morality 4. an increasing demand for genetic modification which effetively increases discontentment for the self or for the original genetic configuration of an organism 5. prospect of creating new species might create natural imbalances especially on the habitats and feeding habits of other animals (by creating a new species, competition might arise, or it might be a predator to a prey who are already endangered, or for its own survival, it might need to destroy the habitats of others) 6. nexpected but undetected mutations can generally alter the future in unpleasant ways. What are the advantages and disadvantages of genetic engineering? Answer: advantages: 1. Disease could be prevented by detecting people/plants/animals that are genetically prone to certain hereditary diseases, and preparing for the inevitable. Also, infectious diseases can be treated by implanting genes that code for antiviral proteins specific to each antigen. 2. Another of genetic engineering is that diseases could be prevented by detecting people that are genetically prone to certain hereditary diseases, and preparing for he inevitable. As well as preventing disease, with genetic engineering infectious diseases can be treated by implanting genes that code for antiviral proteins specific to each antigen 3. Animals and plants can be ‘tailor made’ to show desirable characteristics. Genes could also be manipulated in trees for example, to absorb more CO2 and reduce the threat of global warming. 4. Genetic Engineering could increase genetic diversity, and produce more variant alleles which could also be crossed over and implanted into other species. It is possible to alter the genetics of wheat plants to grow insulin for example. 5. Another advantage of genetic engineering is that animals and plants can be made to have desirable characteristics which could help solve some of the world’s problems. For example in trees, genes could be manipulated to absorb more carbon dioxide. This would help reduce global warming, and thus solve one of the biggest problems earth faces. Disadvantages: 1. Nature is an extremely complex inter-related chain consisting of many species linked in the food chain. Some scientists believe that introducing genetically modified genes may have an irreversible effect with consequences yet unknown. 2.Genetic engineering borderlines on many moral issues, particularly involving religion, which questions whether man has the right to manipulate the laws and course of nature. 3. Another reason why people think that using genetically modified crops and plants is a disadvantage is that they think it will increase our reliance on pesticides, which have a harmful effect on the environment. 4. Another disadvantage of Genetic Engineering is Genetic engineering borderlines on many moral issues, particularly involving religion, which questions whether man has the right to manipulate the laws and course of nature. Also it brings into question Darwin’s theory of â€Å"the survival of the fittest†, if this theory has worked over the last 20 centuries , why change it? †¦ experimental ‘breakthroughs’ made possible by genetic engineering. 1. At the Roslin Institute in Scotland, scientists successfully cloned an exact copy of a sheep, named ‘Dolly’. This was the first successful cloning of an animal, and most likely the first occurrence of two organisms being genetically identical. Note : Recently the sheep’s health has deteriorated detrimentally 2. Scientists successfully manipulated the genetic sequence of a rat to grow a human ear on its back. Unusual, but for the purpose of reproducing human organs for medical purposes)   Most controversially, and maybe due to more liberal laws, an American scientist is currently conducting tests to clone himself. Genetic Engineering Advantages ; Disadvantages During the latter stage stages of the 20th century, man harnessed the power of the atom, and not long after, soon realised the power of genes. Genetic engineering is going to become a very mainstream part of our lives sooner or later, because there are so many possibilities advantages (and disadvantages) involved. Here are just some of the advantages : * Disease could be prevented by detecting people/plants/animals that are genetically prone to certain  hereditary  diseases, and preparing for the inevitable. Also, infectious diseases can be treated by implanting genes that code for antiviral proteins specific to each antigen. * Animals and plants can be ‘tailor made’ to show desirable characteristics. Genes could also be manipulated in trees for example, to absorb more CO2  and reduce the threat of global warming. Genetic Engineering could increase genetic diversity, and produce more variant alleles which could also be crossed over and implanted into other species. It is possible to alter the genetics of wheat plants to grow insulin for example. Of course there are two sides to the coin, here are some possible eventualities and disadvantages. * Nature is an extremely complex inter-related chain consisting of many species linked in the food chain. Some scientists believe that introducing genetically modified genes may have an irreversible effect with consequences yet  unknown. Genetic engineering borderlines on many moral issues, particularly involving religion, which questions whether man has the right to manipulate the laws and course of nature. Genetic engineering may be one of the greatest breakthroughs in recent history alongside the discovery of the atom and space flight, however, with the above eventualities and facts above in hand, governments have produced legislation to control what sort of experiments are done involving genetic engineering. In the UK there are strict laws prohibiting any experiments involving the cloning of humans. However, over the years here are some of the experimental ‘breakthroughs’ made possible by genetic engineering. * At the Roslin Institute in Scotland, scientists successfully cloned an exact copy of a sheep, named ‘Dolly’. This was the first successful cloning of an animal, and most likely the first occurrence of two organisms being genetically identical. Note : Recently the sheep’s health has deteriorated detrimentally * Scientists successfully manipulated the genetic sequence of a rat to grow a human ear on its back. Unusual, but for the purpose of reproducing human organs for medical purposes) * Most controversially, and maybe due to more liberal laws, an American scientist is currently conducting tests to clone himself. Genetic engineering has been impossible until recent times due to the complex and microscopic nature of DNA and its component nucleotides. Through progressive studies, more and more in this area is being made possible, with the above examples only showing some of the potential that genetic engineering shows. For us to understand chromosomes and DNA more clearly, they can be mapped for future reference. More simplistic organisms such as fruit fly (Drosophila) have been chromosome mapped due to their simplistic nature meaning they will require less genes to operate. At present, a task named the Human Genome Project is mapping the human genome, and should be completed in the next ten years. The process of genetic engineering involves splicing an area of a chromosome, a gene, that controls a certain characteristic of the body. The enzyme endonuclease is used to split a DNA sequence and split the gene from the rest of the chromosome. For example, this gene may be programmed to produce an antiviral protein. This gene is removed and can be placed into another organism. For example, it can be placed into a bacteria, where it is sealed into the DNA chain using ligase. When the chromosome is once again sealed, the bacteria is now effectively re-programmed to replicate this new antiviral protein. The bacteria can continue to live a healthy life, though genetic engineering and human intervention has actively manipulated what the bacteria actually is. No doubt there are advantages and disadvantages, and this whole subject area will become more prominent over time. The next page returns the more natural circumstances of genetic diversity. Genetic Engineering in Humans Science is a fascinating subject with unthinkable power. Man, the greatest creation of God and a scientific marvel, has developed the ability to genetically modify and create ‘near perfect’ life. The term genetic engineering was first used in Dragon’s Island, a science fiction novel by Jack Williamson in 1951. With the discovery of ‘Deoxyribonucleic Acid’ or mitochondrial DNA by James Watson and Francis Crick, this fictional plot started to turn into a reality. Watson and Crick, with their experiments, could prove that DNA was the genetic material that was transferred generation to generation, with genetic information. This genetic information determined all the characteristics of a living being. The tiny, microscopic DNA contained all the genetic information related to the person, like the color of the eyes, the hair, skin tone, height, weight, IQ, EQ, diseases, disorders, etc. and even be able to determine a smile or the shape of nose. This blueprint of life is the most important ingredient of genetic engineering. Genetic engineering is carried out using five steps, that are: Gene of interest is isolated Transfer vector is inserted into the genes The vector is transferred into the organism that is to be modified The cells of an organism are transformed The last step involves selection of successfully genetically modified organisms (GMO) from those who have failed to be modified. This biotechnology was first applied to produce synthetic human insulin. This technology was gradually used to apply to a number of vaccines and drugs, that would prove to be beneficial to the human race. It was applied to plants to produce genetically modified foods, with higher resistance to infections and high nutritional values. With the advancement in technologies and major breakthroughs in genetic engineering, more and more scientists working for private and government companies are spending time experimenting with the human genes. The completion of the Human Genome Project, in 2006, has given a major opening to medical companies, to carry out experiments and genetic tests using genetic engineering. ADVANTAGES of Human Genetic Engineering It could help prevent life-threatening and incurable diseases like cancer, Alzheimer’s disease, even HIV/AIDS. There are cases like cardiomyopathy or susceptibility to viruses, that can be overcome with the help of this technology. Better drugs could be produced that are disease or gene specific and attack the specific genetic mutation in an individual, to help over come a disease or disorder. Many people want to live a longer, healthier life or are just afraid of death. Such people with a love of life, can place their bets on it to help them live longer. It is possible to increase the average life span of an individual to 100-150 years. And not just a longer life, but a healthy, long life, free from diseases and disorders. Although this may take a bit longer to achieve, but is does not seem impossible any longer. Women have a craze to look young and maintain their beauty for all eternity. The benefits may make it possible to slow down or reverse certain cellular metabolism, that may be able fulfill this desire to remain ‘forever young’ for many dreamers in the near future. You may have heard of designer clothes, designer bags, designer shoes and even a designer nose. But have you heard of designer babies? Yes, designer babies are possible to be produced with its help in humans. Parents can choose the characteristics of their babies, like blond with blue eyes, high IQ, fair skin, etc. It may even be possible to choose the talent in your favorite idol to be manufactured (pun intended! ) in your baby, for example, a singer like Elvis Presley or maybe a great dancer like Michael Jackson. No, I am not joking, this is all possible with a bit of genetic engineering, within the blueprint of life – DNA. One could even try to create super-humans by incorporating specific features of certain animals. For example, one could have super-sharp vision like the hawk or could outrun a cheetah. One could create a ‘Superman’ like human who is indestructible. Do you remember ‘Dolly Sheep’? This was a genetically modified, cloned sheep that is now dead for over 6 years. This world-famous sheep was cloned using the cell from the mammary gland of another sheep. Cloning, its another aspect can also be possible. There are many ethical issues of cloning and it is considered illegal by many governments around the world. It is a crime to clone humans now, but may be in our quest to produce the perfect beings, cloning will soon become a part of life. These are a few advantages of genetic engineering in humans. But as every coin has two sides, there are many disadvantages that cannot be overlooked. Disadvantages of Human Genetic Engineering Under the pretext of producing a cure for diseases and hereditary disorders, many researchers carry out experiments on genetically modifying humans. It can prove to be a bane if: In the pursuit of producing babies without any genetic defects or hereditary disorders, we may end up producing super humans. Just as the example I mentioned in the beginning of my article, we may have a line of humans that may spell doom to those who are not genetically modified. Smarter humans means, larger brains, that may lead to babies with larger heads that have trouble passing through the birth canal of their mothers. This may cause trouble during birth and a rise in cesarean. Long life could lead to population problems. There may be stress on the natural resources and less living space. Although, you may live free of diseases, you may have a fight for survival for securing the basic necessities. Just like in the movie Gattaca, there may be a division between genetically engineered humans and those that are normal (just imagine, begin normal may prove to be curse in the future! ). People will no longer be discriminated on the basis of race, religion or creed, but actually on their genes! Human cloning may create problems of copies of men moving about freely around the world. If your clone turns out to be the one with a criminal streak, you may end up in jail for a crime committed by your clone. It is possible, if you can’t prove your innocence. Imagine someone else taking over your life, family, work, etc! The problem faced by many developing countries today, is female infanticide. It may help stop this cruel and barbaric custom of killing the innocent girl child. You may think this is an advantage, I say otherwise. It may help such narrow-minded, biased parents to actually choose the gender of the child. Therefore, more parents opting for a male child over a girl child. Thus, directly bringing an end to girl child killing as there will be no birth of the girl child! The idea of ‘Superman’ may seem tantalizing, but its consequences may be very dangerous. Imagine a person who is virtually indestructible, may carry out crimes and becomes a danger to mankind. I can go on and on regarding the benefits of genetic engineering in humans, like end of hunger, no disease, cure for all ailments, long life, ageless beauty, super intelligent humans, etc. But, one should always give a second thought to all the disadvantages listed. It is often said, man should not attempt to ‘play God’. That’s correct, but if God has bestowed us the power to make some beneficial changes to his creations, then we should surely do so wisely. Genetic engineers have turned into modern-day alchemists, who are searching for the ultimate elixir of life, to produce the genetically modified, perfect human. This precious knowledge is being exploited by greedy men, who are using it just to earn more money. Nothing is bad if exploited within limits. When we harness our present, we should keep in mind all the possible effects it will have on our future. We may not be alive to view the beauty and the ugliness of the future, but our beloved children may be facing the consequences. How to cite Advantages and Disadvantages of Genetic Engineering Essay, Essay examples

Assurance Services Guidelines and Procedures

Question: Discuss about the Assurance Services Guidelines and Procedures. Answer: Introduction: ASA-700 Forming an Opinion and Reporting on a Financial Report is framed by the AUASB and is framed in the context of general purpose financial statements of companies. It lays down the manner in which auditors form their opinion on the financial statements of the company and the manner in which auditors are held responsible for forming an opinion on the financial report. ASA 700 covers the form and the content of the independent auditors report and expresses he auditors unmodified opinion on financial statements of the company. This standard ensures the companys compliance with the appropriate financial reporting framework. Auditors modified opinion is now covered under a different standard, i.e. ASA 705. This accounting standard brings about consistency and thereby improves credibility of the financial audit report. ASA 700 deals only with unmodified auditors opinion. The auditor shall be obliged to form an unmodified opinion when he concludes that the financial statements are prepared, in all material respects, as per the applicable financial reporting framework. The auditor is obliged to obtain some reasonable assurance that the financial statements are free from any present or potential misstatements. Misstatements may arise either due to frauds or errors. The different types of audit opinion that may be provided in the audit report are Qualified opinion, Adverse opinion and Disclaimer. If the auditor on acceptance of the audit engagement finds that the management has imposed some scope limitation which restrains the auditor from an efficient and effective conduct of audit, then, such a limitation shall result in a qualified opinion or disclaimer. Also, if such limitation is discussed by the auditor from those charged with governance, and the management refuses to alter the same, then, the auditor should ascertain whether he is able to obtain sufficient and appropriate audit evidence and analyze the possible effect of such misstatements on the financial statements. If such effect is material, but, not pervasive, then the auditor shall give a qualified opinion but, if such effect of material misstatement on the financial statements is material and pervasive, then, he should immediately resign if possible or communicate with those charge d with governance. In case of a disclaimer of opinion, the auditor should clearly state in his audit report that he has failed to obtain sufficient and appropriate evidence for the complete conduct of the audit, which imposes a limitation on the scope of the audit. In case of a qualified or adverse opinion, the auditor is required to state that he has obtained all the required information and obtained all the appropriate evidences for conduct of the audit. The company, as the question states relies mainly on the bank overdraft for repayment of all its debts. The company seems to be very reliant on the bank loan and as a result the bank may be very reluctant to offer any further financial assistance to the firm. It shall therefore be very crucial for the auditor to obtain the detailed balance statements of the bank loans and overdrafts taken by the company as it may considerably affect the going concern principle of the firm. Due to an excess of the firms future obligations over the present and probable cash inflows, the liabilities of the firm would exceed the current receivables of the firm, and this may lead the company into liquidation. In such a case, when the firm follows the going concern assumption but there exists a material uncertainty that the firm may not be able to carry on its business operations in the foreseeable future, then, the firm should compulsorily make adequate disclosures in this regard. It is then the auditors responsibility to consider the adequacy of the disclosures and form his opinion accordingly. If the disclosures are found adequate, the auditor should give a modified opinion by including a paragraph on emphasis of matter. But, if these disclosures are found inadequate and the management refuses to alter the disclosures, then, the audit opinion would be qualified or adverse. The local company stated in the question is a subsidiary of an Australian company, which follows Last in first out (LIFO) method of stock valuation rather than First in first out (FIFO) method required by the Australian laws. Since the parent company is an American company, so, it is very reasonable for the subsidiary to value its stock on the basis of LIFO method, for convenience in maintaining the quantitative details of the stock and also its consolidated financial statements. Also, the difference between the stock valuation in both the LIFO and FIFO methods materially affect only the inventory and not rest of the financial statements. Hence, the effect of such stock valuation is not material for the financial statements and hence, there arises no question of its pervasiveness. Hence, the auditor shall form a modified opinion including a separate paragraph stating the emphasis of matter. As per IAS 16 Property, plant equipment, the fixed assets of a company should either be valued at its cost less accumulated depreciation, or, its revalued amount. In the given case, the Victorian manufacturing company records its factories at market values less accumulated depreciation, which does not comply with IAS 16 requirements. Hence, such a recognition in the financial statements deviate from the international accounting standards laid down by the relevant authority. If the directors believed that the market prices were quite stable over the five years, then, the difference between the cost and the market value should have been recorded as revaluation profits or loss and it shall have effect on the profit and loss account of the company. This recognition of the factories by the Victorian manufacturing company is material and pervasive and hence, the auditor should form a modified opinion in the audit report. The auditor should communicate about the matter with those charged with governance and if the management agrees to make the desired changes, he should give a qualified opinion, else, an adverse opinion must be given. In the given case of Adel Manufacturing Company, the factory foreman interviews the applicants alone and then determines his eligibility to join the company as a worker. In such a case, the sole responsibility of the appointment of workers is given to the foreman who may be prejudicial in selection of the workers. He might consider his personal benefits ahead of the companys objectives and goals. So, while setting up a recruitment channel, the sole responsibility should not be given to one particular individual, rather a group of individuals representing different levels of the management. This would ensure a fair and unbiased recruitment process. Moreover, after the hiring of the worker is completed, the income tax installment declaration form is also handed over by the new worker to the foreman. In such a case, the foreman becomes the sole responsible person for both the recruitment process as well as post recruitment activities. But, these two activities should be handled over by separate individuals, so as to avoid any chances of misstatements in the nature of frauds as well as errors. Once the declaration forms are submitted, the foreman manually writes the hourly rates of the workers. Firstly, foreman should not be shouldered with the entire responsibility of the selection and recruitment of workers and the hourly wages of the workers should be specified and noted by personnel, higher in post than the foreman. Also, manually writing the hourly wages attracts higher degrees of misstatements both due to errors and frauds and hence, electronic typing of such sensitive details should be encouraged. After the completion of the above mentioned formalities, the individual workers themselves take their timesheets and record their work timings, which attract higher degree of fraud by the workers. Hence, there should be a proper reporting authority, who would be in charge of maintaining the time sheets of all the workers, as these would the risks of inaccurate reporting of time by the workers and would minimize the chances of misstatements in the financial statements. Also, the timesheets maintained by the proper reporting authority, should be filled by pen, as pencil filled timesheets could be easily manipulated by the workers. Also, the availability of timesheets openly should be restricted, to prevent any unauthorized use. Furthermore, the company distributes payroll cheques to its workers, which should be replaced with electronic fund transfer, so as to ensure greater safety and security of the payments. There would then be no chances of lost cheques or absentees. Automatic removal of the workers from the payroll in the absence of the timesheet should not be encouraged as the timesheet may have been misplaced either intentionally or unintentionally. Hence, thorough check should be done before removing a worker from the payroll. Lastly, the payroll bank accounts should not be managed by the person preparing the annual tax reports of the company. References ISACA- Serving IT Governance Professionals (2009), IS standards, guidelines and procedures for auditing and control professionals, USA. Gay G, R, Simnett Auditing and assurance services in Australia, McGraw-Hill, revised 5th edition, 2012. Auditing and assurance standards board, Australian auditing standards, Australian government Available: https://www.auasb.gov.au/Pronouncements/Australian-Auditing-Standards.aspx. American Accounting Association , EvansIII, Harry John Australian accounting review. Kimmel, Paul D. , Jerry J. Weygandt and Donald E. Kieso Financial Accounting : Tools for Business Decision Making, 6th ed. Hoboken, 2011. Simeon Solomon, Accounting for audit of property, plant and equipment, Peak professional services, Nigeria Arens, A.A. (2003). Auditing an assurance services: An integrated approach. United States: Addison Wesley Longman. Nicholas M Hodson(2007). Why Auditors Don't Find Fraud. Private Equity, Corporate Governance and the Dynamics of Capital Market Regulation. Lonescu, L. (2009). Internal control and auditing procedures. United States: Addleton Academic Publishers.