Math 221 Complete Course - 2525 Words

MATH 221 COMPLETE COURSE A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=math-221-complete-course Visit Our website: http://hwsoloutions.com/ Product Description PRODUCT DESCRIPTION MATH 221 COMPLETE COURSE, Discussions Week 1 Descriptive Statistics (graded) If you were given a large data set such as the sales over the last year of our top 1,000 customers, what might you be able to do with this data? What might be the benefits of describing the data? Week 2 Regression (graded) Suppose you are given data from a survey showing the IQ of each person interviewed and the IQ of his or her mother. That is all the information that you have. Your boss has asked you to put together a report showing the†¦show more content†¦Type your answers to questions 4 through 11 where noted in the grey areas. When asked for explanations, please give thorough, multi-sentence or paragraph length explanations. The completed iLab Word Document with your responses to the questions will be the ONE and only document submitted to the dropbox. When saving and submitting the document, you are required to use the following format: Last Name_ First Name_Week2iLab. Code Sheet Do NOT answer these questions. The Code Sheet just lists the variables name and the question used by the researchers on the survey instrument that produced the data that are included in the Minitab data file. This is just information. The first question for the lab is after the code sheet. Variable Name QUESTION Drive Question 1 – How long does it take you to drive to the school on average (to the nearest minute)? State Question 2 – What state/country were you born? Temp Question 3 – What is the temperature outside right now? Rank Question 4 – Rank all of the courses you are currently taking. The class you look most forward to taking will be ranked one, next two, and so on. What is the rank assigned to this class? Height Question 5 – What is your height to the nearest inch? Shoe Question 6 – What is your shoe size? Sleep Question 7 – How many hours did you sleep last night? Gender Question 8 – What is your gender? Race Question 9 – What is your race? CarShow MoreRelatedManagement and National Service Training1620 Words   |  7 PagesSubject description | Units | Grade | Instructor |    | Semester 1 |    |    |    | Eng 111 | Effective reading, writing and listening skills/study and thinking skills | 3 |    |    | Fil 111 | Sining ng pakikipagtalastasan | 3 |    |    | Math 111 | Basic math algebra | 3 |    |    | Com 111 | Basic computer (i.t) | 3 |    |    | Soc. Sc 111 | General psychology | 3 |    |    | Cs 111 s1 | Logic formulation and introduction to programming | 3 |    |    | Cs 111 s1 | Fundamental of typing and wordRead MoreConventional Hardbound Textbooks or E-Textbooks? Research Methodology1182 Words   |  5 Pages(UTSA). Accordingly, the research proposal will be submitted to the Institutional Review Board (IRB) for human subjects review and approval. Participants The sampling frame will consist of freshmen students enrolled in introductory level courses in the math, English, and psychology departments for three consecutive years. A convenience sampling procedure based on the normally occurring matriculation of students will be employed in this research. A sufficiently large number of subjects will be recruitedRead MoreIntegrated Analysis Of Service Learning Age Group Late Childhood Essay1368 Words   |  6 PagesIntroduction: Throughout the course of this semester, we discovered the wonders of how the mind and body develop over time. How our brains can grow in knowledge of problem solving skills and how our bodies capabilities decline in older adulthood. In this semester, I focused on one portion of development in particular. I chose to concentrate on late childhood—around ages ten to twelve—because I had no prior knowledge of this age group other than my own personal experiences. My service learning experienceRead MoreThe Career Path Of The North Carolina State University764 Words   |  4 Pagescollege will definitely open your eyes to the real world, it is a big campus with over 30 facilities, the main building is a 82,000 square foot building and the quality in each room of this university is excellent. The graduation rate is at 44.3% who complete the program ,however There are admission requirements to be accepted to this university. A minimum GPA must 3.67 or higher, ACT test scores can be a 24 ,but preferably a 26 or higher . About 10,774 out of 21,364 students apply each year, but onlyRead MoreHow to Use MINITAB1292 Words   |  6 Pagessurvey questions. Therefore, the rows are called observations and the columns are called variables. Included with this lab, you will find a code sheet that identifies the correspondence between the variable names and the survey questions. * Complete the answers below and paste the answers from MiniTab below each question. Type your answers to the questions where noted. Therefore, your response to the lab will be this ONE document submitted to the dropbox. Code Sheet Variable Name |Read MoreCareer Investigation Assignment2036 Words   |  9 Pageswell as my current location in Grand Rapids, Michigan. Education Plan Courses Required I plan to take only two courses per semester for the following year because of personal circumstances. I think this is the best course of action to balance my education with other aspects of my life at this time. If the opportunity arises where it is not absolutely necessary for me to work full time, I would like to take on more of a course load. Until that happens, I am content to take my time so as to ensureRead MoreEssay about Preparing Children for Success with Technology2958 Words   |  12 Pagescoursework online and completing the work in traditional formats, worksheets, and the like. Alshahrani had discovered in his findings that students were more likely to complete coursework when given in digital formats. He predicted that simply because of the outlet provided, a digital format, that students were more likely to be inclined to complete the necessary for success in the classes they were taking. These were college age students, but the behaviors discovered are also commonly resembled in that ofRead MoreHuman Resources Managemnt4105 Words   |  17 Pagespercentage of successful incumbents in an occupation. This should clearly increase the likelihood that the applicants will be successful in their new jobs. Interests that one might expect: accountant: math, reading, music; college professor: public speaking, teaching, counseling; computer programmer: math, music, computers. 5. Why is it important to conduct pre-employment background investigations? How would you go about doing so? Past behavior is the best predictor of future behavior. It isRead More Aiding Education Essay5023 Words   |  21 PagesThis trend is especially noticeable in areas of high poverty where schools do not have access to adequate resources to provide help for students that need it. Both the federal government and the states themselves have taken measures to right the course of the American educational system, but thus far the gains have been meager at best. In examining the current state of the United States’ educational system with respect to areas of significant poverty, it is important to determine what caused thisRead MoreThe Evolution of Individualized Major Programs3401 Words   |  14 Pagesthat they should memorize and not question. William Smith, who served as Provost at the college of Pennsylvania (later University of Pennsylvania) suggested a curriculum in 1752 that provided a more intentional and more balanced field of study. The courses were divided, roughly, one-third to classics, one-third to mathematics and science, and one-third to logic, ethics, metaphysics and oratory (Kraus, 1961). In 1828 Yale published the Yale Report of 1828 which advocated for the continuation of the classical

Myers Briggs Personality Assessment Paper - 2490 Words

Running Head: Myers-Briggs Personality Assessment 1 Myers-Briggs Personality Assessment 10 Project 1 ? Sepich MBTI Analysis Rachelle Sepich Liberty University Abstract Although this was not the first personality assessment that I?ve completed, after reading this week?s study material, I can honestly say that I have gained a more expansive understanding and perspective on the subject. First, I had not considered the correlation between our covenant with God and the responsibility that we should maintain a similar engagement with one another on a day-to-day basis (Presentation: Lesson 1 ? A Worldview Perspective on Organizational Behavior, 2012). While I knew that our personality type could provide context to how we†¦show more content†¦It may sound like a perplexing question; but after taking the MBTI assessment, I am increasingly convinced that I?m not as indescribable as I thought. There?s a humorous list of MBTI prayers that provide a comical synopsis of each type. Mine states, ?Lord help me to relax about insignificant details beginning tomorrow at 11:41.23 am e.s.t.? (Prayers for Myers-Briggs Types, n.d.). This sums me up in a nut shell! As I reviewed my MBTI results, most of my percentages have not drastically changed over time. This gives me continued confidence in the following MBTI results which indicate I am an ?ISTJ?: introvert (16%), sensing (9%), thinking (31%) and judging (53%) (Jung Typology Test, 1998-2017). As I read more about my style, I can honestly say that there were few, if any, points that I disagreed with. In summary, I do not get my energy from engaging in large crowds. Analysis by paralysis is a real challenge for me, given I have a knack for the details. I won?t let my feelings get in the way of a decision which can be a relationship inhibitor if I don?t keep an eye on it. I Corinthians 14:40 and Ecclesiastes 3:1 will both maintain a special place in my heart; everything should have a time, place and purpose. My blind spots include my tendency to think that I?m right, which debatably I think I am. I may find myself facilitating ?win-lose? discussions and I tend to be extremely serious most of the time (Personality Type Explained, 1998-2017). My temperament isShow MoreRelatedPersonality Type Assessment1336 Words   |  6 PagesPersonality Type Assessment (Week-2 Individual Assignment) CMGT/530 - IT Organizational Behavior July 1, 2012 Personality Type Assessment The first section of this paper details the elements that a personality type assessment typically measures. The second section contains discussion on the personality type assessment of the author of this paper. In the third and last section, the author shares how his personal assessment outcomes could affect his workRead MoreAssessment Tools Essay1622 Words   |  7 PagesRunning head: ASSESSMENT TOOLS 1 Assessment Tools Paper Liberty University EDUC 307 June 1, 2016 Abstract The beauty in teaching is watching the brains of your scholars grow with knowledge. As educators we frequently use various tools to assess the gains that our scholars make. In order to successfully instruct intentional lessons, it is important to collect data about scholar interests, ability/intellectualRead MoreThe Myers Briggs Personality Assessment961 Words   |  4 PagesFaith-filled? Yes, that is me! In this paper, I will explain these three main strengths that I believe to be true about myself. I utilized the Strengths Finder 2.0 and the Richard-step for my strength assessment (Rath, 2007 Richard-step: Enrich Yourself Step Up Your Career – Tests, Tools, Personal Guidance, 2015). Additionally, I will compare these findings to the Myers-Briggs Personality Assessment (Personality test based on C. Jung and I. Briggs Myers type theory, 2015). Please fastenRead MoreDifferential Psychology : Cognitive Ability1723 Words   |  7 PagesThese domains include differences in behavior, personality, cognition, orientation and affect. Differential psychology focuses on these domains, by studying differences in our actions, emotions, intelligences, needs and activities. (Revelle, Wilt, Condon, 2011). This paper will review four domains of individual differences: cognitive ability, personality, orientation (values and interests) and affective disposition. It will also focus on personality, explaining major ideas, themes and theoristsRead MoreThe Myers Briggs Type Indicator ( Mbti ) Are Both Personality Assessments Essay1096 Words   |  5 PagesThe Birkman Method and The Myers-Briggs Type Indicator (MBTI) are both personality assessments. The Birkman Method is based on the theories of Dr. Roger W. Birkman and the work of Dr. Roy B. Mefferd, Jr. and Dr. Timothy G. Sadler. The MBTI is based on the theories of Dr. Carl Gustav Jung and the work of Katharine Cook Briggs and Isabel Briggs Myers. Both are non-clinical assessments. The working manuals for b oth assessments have recognized and documented, content, construct, criterion-related validitiesRead MoreAssessment Tools Paper1194 Words   |  5 PagesAssessment Tools Paper Liberty University Online Abstract The paper covers six different assessment tools used to determine children’s learning profiles. This includes his or her interests, ability/intellectual level, achievement level, and personality type. Findings contain the Strong Interest Inventory, the Reynolds Intellectual Assessment Scales (RIAS), the Stanford-Binet Intelligence Scales, Fifth Edition (SB5), the NationalRead MoreMyers Briggs Type Indicator Assessment1933 Words   |  8 PagesThis paper is a critique of the Myers-Briggs Type Indicator (MBTI) assessment. The paper starts of giving general information about the theory, such as the author, publisher, and a brief description of the history of the assessment. Secondly the paper describes the test and its content, structure, purpose, administration, and scoring. Technical evaluation is the third section of the paper that discusses research done on the MBTI throughout the years. The technical evaluation section will talk aboutRead MoreLeadership Theory Of The Myer s Briggs Test1185 Words   |  5 PagesLeadership Theory October 19, 2014 Leadership Theory Paper According to Sullivan (2013), â€Å"leadership is influencing others into working toward accomplishing a common goal† (pg. 42). Certain individuals have natural leadership qualities. Other individuals need to learn leadership skills. It takes a specific personality type to make a leader. The purpose of this paper is to identify my personality type through the Myers-Briggs test, discuss the leadership style of Gandhi and his similaritiesRead MoreThe Leadership Journey Of Ronda Harlan1535 Words   |  7 PagesIntroduction to a Leadership Journey This paper outlines the leadership journey of Ronda Harlan; an Organizational Leadership student, at Colorado State University (CSU) and how the CSU Masters of Science in Organizational Leadership (MSOL) program helped Ronda to evaluate human behavior within organizations to understand ethical practices, effective leadership, organizational communication, and cogent decision-making principles. Ronda Harlan reflects how the master’s program at CSU aligned withRead MoreThe Myers Briggs Type Indicator1413 Words   |  6 PagesIntroduction The Myers-Briggs Type Indicator (MBTI) â€Å"is an introspective self-report questionnaire designed to indicate psychological preferences in how people perceive the world and make decisions† (13). It is one of several personality assessments that is popular among modern mental health experts throughout the world. Currently, it is estimated that the MBTI is â€Å"taken by more than two million people per year and is translated into 16 languages (10). â€Å"The purpose of the Myers-Briggs Type Indicator

Beowulf Pagan Values Tied with Christianity Free Essays

The poem titled Beowulf was composed sometime between the seventh and tenth century in a language that is known as Anglo-Saxon. It incorporates many pagan themes and concepts, yet it also contains many references to Christianity. Although paganism and Christianity can be seen as unalike, the two aspects are brought together by the poet in order to show the need for grouping. We will write a custom essay sample on Beowulf: Pagan Values Tied with Christianity or any similar topic only for you Order Now The pagan themes, such as fate or the common goal of fame and heroism, raise questions in the religious community that could be misleading or misinterpreted without the Christian insight provided in the text. As a result, it is clear that this combination of pagan concepts and Christianity shown in Beowulf is for a Christian audience. In order to enhance the value of the poem Beowulf, the author reconciles pagan concepts such as fame, vengeance, and fate with Christianity. The pagan concepts play key parts in the storyline and are related to the components of Christianity in the poem. One of the pagan concepts depicted in Beowulf is fame. Other ancient texts, such as The Odyssey and The Iliad, show warriors who venture out far from home to accomplish heroic tasks and build fame. The poem shows Beowulf and other characters in the story to have the same urge. Beowulf is shown early in the story as â€Å"the mightiest man on earth, high-born and powerful† (p. 15). The concept of fame is very important to him and to his people. After hearing of Grendel and his strength, Beowulf declares â€Å"to heighten Hygelac’s fame and gladden his heart, I hereby renounce sword†¦: hand to hand is how it will be, a life-and-death fight with the fiend† (p. 31). He wants to maximize not only his own fame but the fame of his king. He will fight Grendel equally matched and â€Å"perform to the uttermost what your people wanted or perish in the attempt, in the fiend’s clutches† (p. 43). The pagan concept of fame is accomplished when Beowulf defeats Grendel and gives the arm of the creature to Hrothgar. Beowulf has proven his skills and strength by ridding the land of Grendel and Hrothgar praises him by stating, â€Å"You have made yourself immortal by your glorious actions† (p. 63). Although the idea of fame at this time conflicts with certain notions of Christianity, the author reconciles the two by adding many references to God with the achievement of fame. The author is able to attribute both Christian concepts and heroism to God through the dialogue of Hrothgar. When Hrothgar arrives in the mead-hall the morning after the slaying, he first thanks God by saying, â€Å"let the Almighty Father be thanked†¦the Heavenly Shepard can work His wonders always†¦Ã¢â‚¬  (p. 63). He praises Beowulf and states that the killing of Grendel was accomplished â€Å"with the Lord’s assistance† (p. 63). Another example of the ties between God and fame is when Hrothgar gives his speech to Beowulf over the dangers of power. He tells the story of Heremod, a king who eventually loses everything due to selfishness, to Beowulf. Almighty God had made him eminent and powerful and marked him from the start for a happy life†¦ a change happened, gave no more rings to honour the Danes†¦ he suffered in the end†¦his life lost happiness† (p. 119). The story shows that God is the true beholder of power and when man strays fr om Him, or lives a life of no values, He has the power to take away happiness and power. The only way to live on earth is through the grace of God. Consequently, the pagan concept of fame ties back to God and is reconciled to Christianity. Another concept of paganism found in the poem is the concept of vengeance. The first sign of vengeance comes clear when Grendel’s mother becomes aware of Grendel’s death. She is infuriated and â€Å"desperate for revenge† (p. 89). She had no interest in the Danes or Geats until the death of her son. She goes to the mead-hall, kills Aeschere, and takes back Grendel’s remaining corpse. This anger and desire to avenge Grendel’s death also leads to her eventual death when Beowulf meets her at the mere and kills her with the mystical sword. After killing Grendel’s mother and resurfacing to land, Beowulf tells his men, â€Å"if God had not helped me, the outcome would have been quick and fatal† (p. 15). The author seems to imply that latching onto anger and vengeance leads to the destruction of oneself. It can also be interpreted that Beowulf was aided by God to destroy Grendel’s mother due to her fixed desire to wreak havoc and revenge on the mead-hall. This can be seen as the authors attempt to reconcile v engeance with Christianity. Another example of vengeance can be seen when Grendel’s mother kills Aeschere and Hrothgar mourns over his death. Beowulf tries to console Hrothgar by saying, â€Å"Wise sir, do not grieve. It is always better to avenge dear ones than to indulge in mourning. † (p. 97). This shows the importance of avenging the death of one’s comrade or friend to Beowulf and also the contrast between vengeance and Christian belief. After Beowulf finishes his boast, Hrothgar â€Å"sprang to his feet and praised God for Beowulf’s pledge† (p. 97) This is another attempt by the poet to reconcile the pagan concept of vengeance with Christianity. The desire to seek vengeance is discouraged through Christianity, and in the case of Grendel’s mother, can result in the destruction of oneself. Although, the question rises as to why Beowulf wasn’t corrected for seeking vengeance on Grendel’s mother. This is where a third pagan concept is seen in Beowulf; the pagan concept of fate. The pagan concept of fate in Beowulf is mentioned in association with good and bad fortune. For example, when explaining Hygelac’s death, the author states â€Å"fate swept him away because of his proud need to provoke a feud with the Frisians† (p. 85). The use of fate in this context refers to bad fortune due to Hygelac’s desire to stir up a confrontation with the Frisians. At an earlier point in the story, Beowulf tells Hrothgar, â€Å"no need to lament for long or lay out my body: if the battle takes me†¦Fate goes ever as fate must! (p. 31). Here Beowulf leaves the decision to fate, which is a concept of paganism, but there is no mention of fate being controlled by God. This is in direct conflict with Christianity and the author is does associate fate with Christianity in other portions of the text. For example, when Beowulf is declaring his formal boast to kill Grendel, h e states, â€Å"And may the Divine Lord in His wisdom grant the glory of victory to whichever side He sees fit† (p. 47). This example shows Beowulf’s demonstration of his Christian beliefs and acknowledgement that it is ultimately up to God who will win the fight. After the fight with Grendel’s mother, Beowulf makes another declaration of fate when he states â€Å"it was hard-fought, a desperate affair that could have gone badly; if God had not helped me, the outcome would have been quick and fatal† (p. 115). Beowulf surrenders himself to God and is fully aware that his fate was left to God’s will. Beowulf once again shows his belief in not only the pagan concept of fate but in God as well. Therefore, the author has successfully reconciled fate with Christianity. In order to enhance the value of the poem Beowulf, the author reconciles pagan concepts such as fame, vengeance, and fate with Christianity. These concepts are seen all throughout the poem and act as representation for the relationship between pagan concepts and Christianity. Although in some areas the two aspects of Anglo-Saxon life can be seen in conflict, as in the pagan concept of vengeance, the two seem to be interrelated. Although Beowulf is an epic narrative, it is full of Christian elements that show the beliefs of Christians today venture back in time to as early as the seventh century. Christian customs, such as man believing in God and the presence of good in the world, make this pagan story into what is now believed to be a primary Christian story amongst many. How to cite Beowulf: Pagan Values Tied with Christianity, Essay examples

Auditing Report On BC Learning Company †MyAssignmenthelp.com

Question: Discuss about the Auditing Report On BC Learning Company. Answer: Introduction The ASA701 Communicating Key Audit Matters in the Independent Auditors Report, was developed by the IAASB, that required the auditor to comment on important matters in the financial report, on the basis of the going concern assumption. It specifies the duties of the auditor with emphasis on the importance of making relevant disclosures with conducting the process of audit. This standard is applicable to the audit of the financial statements of all the companies that are listed(Abbott, et al., 2016). The auditor can comment on the key matters on his own will, or on the direction of the management, but in all cases the auditor needs to follow the same. It is mostly applicable to those financial statements that are audit for the financial period ending December 15, 2016. Since 2004, t has one of the biggest changes that have occurred in the standards of auditing. There were many reasons behind the development of the standard however the most important was the global crisis that the worl d faced after the downfall of the ABC Learning centre and the contribution of the auditor in the same. It was very clear from that case that the auditors failed to do their duties properly, they failed to take a stand that had affected the overall company and also led to a global upheaval. This standards helps the auditor in getting an insight into the overall effectiveness of the financial statements by considering the key matters and make an opinion on the same(Brannen, 2016). These standards have been made to help the auditor in having a proper say into the matter, It has also helped the investors as now they can rely on the reports and take important decisions that affect their investing policies. The major reason that led to the development of these standards was the downfall of the ABC Learning centre and details about the same has been given below under. The overall effect of the auditors report into the matter and what stand they need to take in similar situations is explain ed here under. Downfall of the ABC Learning Centre Founded in 1988, the ABC Learning centre was one of the biggest learning institutions in Australia. The company started with single day care units, grew up to as much as 20 child care centers and had a big loyal customer base that preferred the company for their educational needs. In 2001, the company was listed on the stock exchange and the overall market capitalization was $2.5 billion by 2007. The after tax profit that the company had reported was A$143.1 million. The overall revenue of the company was A$1.7 billion. But after that there were many changes that happened and the company suffered a huge setback, as much as that it was finally liquidated. The company was earning huge loses and had taken a lot of debt, and all that led to the delisting of the company and finally led to its liquidation. The major parties that were affected by the same were the investors who had invested their money in the company, and the delisting of the company caused them huge losses. The share price of the company fell from A$8.62, to as low as A$0.54. Thus this reflected that the overall loss of the company in continuing as a going concern affected the investors terribly. There were so many factors that had caused these downfall like the business model was not very efficient, the overall accounting policies were also regressive, the company had incurred huge capital expenditures, the acquisition policies were inefficient, low advantage levels, all this factors in combination led to the downfall of the company. It affected the overall growth of the company(Burke Clark, 2016). After the downfall a lot of analysis was done by the investors in which they found that the overall business model was very inefficient and was hard to decipher. The overall operations of the company were very opaque and all that led to the downfall of the company and affected its overall growth. Had the accounts of the company audited properly, it would have brought these matters in the front hand and w ould have saved the investors from such losses(Guragai, et al., 2017). Thus the auditors were also responsible equally for such kind of actions. Proper auditing would have helped in identifying the loopholes and would have saved the auditors. Reasons for the downfall The most important accounting issues that were visible in the overall scenario were the need of the auditor to identify the key matters of audit and report on the same. There was a huge flaw in the intangible assets of the company that went unnoticed and was also not recognized by the stock exchange in which the company was listed. Most of the intangible assets on the companys balance sheet were very hard to identify and value like the derivatives, goodwill and certain other biological assets. The company practiced regression acquisition policies and that led to acquisition of these assets rather than following easy one(Jones, 2017). The problem was not only in the functioning of the company but the auditors who were appointed also failed to do their task properly and that affected the overall company and had led to a global crisis. Pitcher Partners Brisbane Firm, was appointed as the auditor of the company in 2003. The auditors were hugely influenced by the management of the company and gave an unqualified audit report ignoring these matters that ultimately affected the going concern policy of the company. The dint recognize the facts that most of payments and the revenues that the company Is showing is mostly from loss making units and also the fact was hidden that these institutions were merely El Dorado. The auditors supported the claim of the company and that led to accumulation of millions of worth intangible assets that were not accounted for and were not calculated properly. As per many experts it was a deviation from the standard process of auditing and also was very unethical. The auditors were equally responsible for their actions along with the management. There failed to follow the code of ethics and the standard laws and were equally responsible for the same. Effect of the downfall When the new auditors earnest and young took over from the previous auditor, they recognized all these loopholes in the management of the company and asked the management to make specific changes so that the true and fair view of the business was reflected. However the management refused to do the same because that would have caused them a lot of issues. This made the auditors probe deeper into the matter and they saw that there was a lot of inconsistency between the actual scenario and the previous auditor report. This led to a deadlock between the two auditors, as both were stuck to their opinion, one was in favor of the company and one was against it. The new auditors were able to provide a clear picture of the management of the company that was very different from the stand of the previous auditor. As for the previous auditor they were of the view that the main work of the auditor is to check the authenticity of the books of account till they are assured. In cases when they feel that need more details, then the auditor will probe more in the matter(Knechel Salterio, 2016). This was the stand of the previous auditor. Because of this deadlock, a third party was appointed to solve the same. However even the third auditor was not able to reach to a conclusion and provide proper conclusion to this story. It was not successful in proving any of the auditors wrong. This raised a very important issue on the responsibilities of the auditor and the matters on which they need to make an opinion. The investors place their trust on the audit reports to make important decisions hence it is very important that the auditors provide reports that are free from all kind of errors. The reports must show case the true and fair view of the business operations. Learnings from the downfall The main points that were concluded from these reports were that there was an existing audit gap between the demand of the investors and the responsibilities of the auditor. The main point that was ascertained beforehand was that the auditor needed to check the accounts and in case he finds anything fishy than he needs to probe further. There are standards that have been developed to help the auditors but we see in recent times that there have been many issues. Like we see in the case of the ABC Learning company, that there can be divergent audit opinions, and the auditors can prove that none of them are wrong(Lefkowitz, 2017). So the main issue is that whom the investors rely on that will help them in taking effective decisions. This has led to the emergence of the new standard of auditing to prescribe proper rules for the auditor and which they must follow. Features of the ASA 701 The standard encompasses the requirement of the auditors to comments on various key matters of governance and give their opinion on the same. This standard is applicable to all the listed companies as the stakeholders take various financial decisions on the basis of these reports. The auditors possess the right to decide and comment on the key audit matters. They identify the same in consultation with those charged in governance and thereby express their opinion on the key issues that require special attention. They usually focus on the issues which are more likely to entail risks like the accruals, revenues, cost booking and taxes etc. All these issues include some kind of auditor judgement, management estimates and judgements and other specific events affecting the financials(Sonu, et al., 2017). The auditors describes and explains each of the critical key audit matters and explains the reasons and effect on the financials and profits along with the relevant supportings and due research and study of the company. They also report certain specific circumstances which cannot be included in the auditors report in the absence of complete information. The auditor should prepare a consolidated file for the audit evidences pertaining to the key audit matters and must preserve the same for the relevant period of time as per the standard. Effect of the ASA 701 on the ABC crisis Since these audit standards were not effective at that point of time, it played negatively from the stakeholders and decision makers point of view whereas it worked positively for the management and the auditors. If the standard would have been developed, the auditors would not have been at fault and they had to comment on the key matters that were material(DeZoort Harrison, 2016). Since this did not existed the firm Pitcher Partner simply stated that they would go with the opinion which is already framed on the financials and that the application of any particular standard is based on the professional judgement and understanding of the case. Hence, two different auditors can have two varied views on the financials at two different point of time. However, the introduction of this standard has embarked the responsibility on the auditor to check the financials for reasonable assurance and in case they find any discrepancy, they need to probe further into the details(Raiborn, et al., 2 016). This was the major loophole in the standard which the auditors made use of. If this was applicable then, the auditors could have reported on the revenues being reported for the sick units and the recording of intangibles in the books. This is the main reason for the introduction of this standard due to downfall of ABC learning centre so that the decision makers can take their decisions based on the key matters. Apart from this, it puts more responsibility on the auditor to report correct things and with evidences and they just cant do away with this requirement. They need to comment effectively for analytical study and the management needs to support and make available all the necessary data points to the auditors in this regard. Conclusion From all the above discussion on the standards, analysis and the points to be taken care off, we have come to the conclusion that audit report is of utmost importance to the users of the financial statements, be it external or internal users, shareholders or government and thus the auditor should report all the key financial issues along with highlighting all the major risks and must do their work effectively and efficiently. In the case of ABC learning centre, the shareholders had to face huge losses because they made their decision to invest based on the audit report describing the entity to grow having larger revenues and that the company was a going concern. But in reality, it was just the opposite. The company was facing losses in spite of increase in revenues, because of which liabilities were increasing. These losses came as a shock to the shareholders. This again earmarks the relevance and criticality of the preparation of the financial statements by the company as those who are dependent on it like banks, financial institutions, government, shareholders, creditors, etc. must be able to take benefit out of it(Lefkowitz, 2017). This has been one of the marquee audit changes since 2004 in the field of auditing and will surely help both the auditors and the stakeholder in taking responsibility and decisions respectively and thus will help in removing the loophole that existed earlier. Recommendations It is thus recommended from the shareholders point of view to get the right and correct information with regards to the company at the right time since they are the one who will be investing in the company and all their money would be at stake Thus it will be recommended for the auditors to follow the standards that have been set and to take necessary steps that will help in the overall analysis of the company and provide the correct snapshot. It is also recommended that the law framing bodies must keep a timely check on the actions of the auditor and in case they indulge in any malfunctions they must be penalised. This is important for an all round global development and health References Abbott, L., Daugherty, B., Parker, S. Peters, G., 2016. INTERNAL AUDIT QUALITY AND FINANCIAL REPORTING QUALITY: THE JOINT IMPORTANCE OF INDEPENDENCE AND COMPETENCE. Journal of Accounting Research, 54(1), pp. 3-40. Brannen, J., 2016. 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