Risk Management Plan Assignment Example | Topics and Well Written Essays - 500 words - 1

Risk Management Plan - Assignment Example regarding legal risks; reputation damage, firm position, claims from third parties due to tax schemes, contractual risks and regulations and policy changes. Legal risk management for accounting firms should start with an engagement letter that contains terms of business, scope of work, and a reasonable liability cap. Engagement letters ensures the identity of all the contracting parties that rely on accountants work. This letters are important to the firm to reduce the amount of claims from third parties in the company. There are also different policies and regulations that govern the accounting firms; Ontario requires that all certified general accountants should have a mandatory errors and omissions insurance (Buchan, et al., 2012). These policies can change with time and this poses as risk to the company. A legal risk management framework is advised to ensure that the organisation will pursue its corporate objectives and aims within its legal obligations for example, legislation, codes of practice, and significant contracts. Compliance with auditing standards has to be followed in accordance with the Auditing Practices Board. Training of employees and proper planning of the work is therefore essential. The relationship between the accounting firm and the entity being audited maybe the source of audit failure to detect issues in audit (Buchan, et al., 2012). Training of employees should be thorough to allow them to pick up the warning signs for example, unexplained debts, late information provision and risk management lack in an entity. Failure to incorporate such information in audits may lead to the closure of the firm. Audit software packages should be revised on yearly basis and professional sceptism should be maintained when carrying out an audit. In reference to insurance, indemnities and warranties should be well considered to avoid catastrophic claims against the accountant professional. It should be ensured that the indemnity clause is well capped

Annotated Source List Assignment Essay Example | Topics and Well Written Essays - 750 words - 1

Annotated Source List Assignment - Essay Example I am going to use a book Impact of electronic publishing written by David J Brown and Richard Boulder-stone. The writers discuss the consequences of electronic publishing and recommends on how publishers, writers and readers can assess electronic materials. Three Views of the internet written by Ann Marie and Wendy Wicks is another book that I will put into consideration since it has articles about the use of internet in publishing Industry. In addition, I will combine books and an eBook: The misuse of information systems by John P D’Arcy and Encyclopedia of Internet technologies and applications by Mario marques respectively. Other relative important articles that I have found helpful in doing the research include: Impact of Technology in Publishing by Hanno Ronte; impact of internet in the newspaper industry by George Wilbert.; and Effects of Information Technology on the Publishing Industry by Otuoma Sanya. The above articles will provide information on impacts of internet technologies in different publishing sectors. The articles will also provide information on how the internet has benefited and advanced publication sector. Numerous inquiries have developed on the impacts of internet publishing. I am really befuddled and thinking about how publishers and authors gain yet their work is downloaded free from the internet unless in some few cases like in Amazon where books are sold. This sometimes lead to the authors and publishers being demoralized since they gain less from their hard work they put across ensuring that the work they present is of high quality. I have a tendency to surmise that the amount of cash used by a reader as a part of downloading the materials is shared among the internet administrators, publishers and scholars. Numerous creative writers are gaining a great deal of cash through posting their imaginative work. I ponder what the internet has done to publishing commercial