Sunday, May 17, 2020
Religions Place in Education Essay - 1325 Words
Abstract There have been many lawsuits that involve the issues between religion and government state laws and regulations. As of today religion is still a very emotional issue between Christian churches and schools. Issues such as prayer in school, reciting the pledge of allegiance (under God), teaching the Ten Commandments or evolution, are prohibited in public schools today. Educational administrators must be aware of these issues and the laws that must be adherent to. Religious Issues The Constitution made no reference to religious liberties of United States citizens during ratification of states; the Bill of Rights does address religious freedom but over the past decade the conflict between church and state has increasedâ⬠¦show more contentâ⬠¦Because of the decision made in the Cantwell case, the Fourteenth Amendment makes the First Amendment applicable to state action, which makes the establishment clause significant for the administration of public schools (Essex, 2002). One of the most highly debated issues in schools today is prohibiting of school-sponsored prayer. Before the issues with prayer in schools, prayer was offered in public places before an event of at the start of a day. The problems that arise from having prayer in school was that because of the many cultures in schools some students were being force to deny their own belief and religious freedom. Congress, state legislatures, and citizens tried to find an alternative to this situation by adopting a prayer that was school-sponsored, non-denominational, voluntarily, and to be recited by each class in the presence of the classroom teacher which was composed by the New York Board of Regents in 1962. The prayer read ââ¬Å"Almighty God, we acknowledge our independence upon thee and we beg thy blessing upon us, our parents, our teachers and our countryâ⬠(Essex, 2002, p 17). The students that did not want to participate in the reciting the prayer would be excused from participation, bu t some parents still was not satisfied, sayingShow MoreRelatedThe Rise And Further Development Of Islam741 Words à |à 3 Pagesexpansion of Islam, the spread of the religion had ultimately altered the social and cultural aspects of geographical areas. (thesis probably needs more clarity) Initially, Islam was a militant conquering religion and various military conversions took place across northwestern Africa under Umayyad armies. During the 7th and 8th centuries, Islam was spread vastly under military campaigns from caliphs. Islam prior to 1250 already had a pre-existing foundation, which was a demonstration of its success andRead MoreReligion and Public school Essay1652 Words à |à 7 PagesPublic schools are not an appropriate place to discuss or practice religion for teachers or student. By allowing Religion to be practiced in school, an atmosphere of tension and group versus group would be fostered. Religion has caused wars in a multitude of areas. Though all had their own specific reasons for violence, they all centered on ââ¬Å"the achievement of a religious goalâ⬠(British Broadcasting Corporation). That includes going against other religionââ¬â¢s views, and spreading the religion. HowRead MoreWhy Is Personal Meaning So Important For Individuals? How Can Religion Help One Find A Sense Of Meaning850 Words à |à 4 PagesThe accessibility of such a view is often promoted through doctrinal teaching and creeds, religious education, and sometimes even rules of acceptable and unacceptable behavioral practices. Often done in the name of developing a system of values compatible with the religious tradition. Religion by its very nature for many, involves a sense of transcendence, and that is the third reason for religionââ¬â¢s success as meaning provider. A belief in a transcendent and authoritative being, especially when sovereigntyRead More The Role of Religion in Elementary Secondary Education Essay1540 Words à |à 7 Pagesanothers. ââ¬Å"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof.â⬠ââ¬Å"With those words, in the First Amendment to the Constitution, the fledgling United States of America became the first nation to place into law the notion that religious beliefs were a private matter for individuals who had the legal right to freedom of conscience, and that no government had the right or authority to dictate what religious opinions people shall or shall not hold.â⬠1Read MoreThe Place God Should Tread Lightly1816 Words à |à 8 PagesLuis Acosta Honors English 10 Period 1 April 7, 2017 The Place God Should Tread Lightly Education is a right to all of mankind as the possessing the knowledge of the world, its history, its nature, the various cultures present throughout its areas, and the way man is able to manipulate it for his or hers own benefit is crucial in today s modern society. Yet no matter how many cultural aspects are forgotten or grown out of as the human race advances further, a continuation of human culture remainsRead MoreEgyptian Religion s Influence Over Christianity1588 Words à |à 7 PagesEgyptian Religionââ¬â¢s Influence Over Christianity Religion is present in almost every single culture in the world and has been for several thousands of years. Egypt is one of the first known and recorded civilizations in the world and has been studied for as long as its artifacts have been founded. In the discoveries of these artifacts, historians have found religious-like stories with Gods and supernatural elements. This is one of the first ever recorded religions in the world and the religions thatRead MoreWhy Is Personal Meaning So Important For Individuals? How Can Religion Help One Find A Sense Of Meaning853 Words à |à 4 Pagesreligion is successful as a meaning maker is accessibility. Many conservative religious groups often stress the importance of a religious worldview. The accessibility of such a view is often promoted through doctrinal teaching and creeds, religious education, and sometimes, rules of acceptable and unacceptable behavioral practices that are often done in the name of developing a system of values compat ible with the religious tradition. The third reason religion is as meaning provider is a sense of transcendenceRead MoreHindu Temple : A Sacred Relic862 Words à |à 4 Pagesfounded in 2000, the Santhya Sai Baba Centre focuses on the ââ¬Ëteachings of Santhya Sai Babaââ¬â¢, associated with the principles of education, service, devotion and youth commitment (Saiaustralia.org, 2014); thus, pertaining to the polytheistic belief of ââ¬ËOneness and Wholenessââ¬â¢ (Jupp, 2001) of an individual. The community additionally contains a Music College, Higher Education and Womenââ¬â¢s Institute, whilst thoroughly pertaining to Hindu values and ideals, by allowing its members to ââ¬Ëobserve Hinduism inRead MoreOutsider Perspective On Christianity : Overview1025 Words à |à 5 Pages Outsider Perspective on Christianity Kaniesha Fleming Intro to Religion Instructor: Douglas Axtell ââ¬Æ' As a project we were told to study a religion from an outsiderââ¬â¢s perspective. We, as students, would attend that specific religionââ¬â¢s place of worship to observe their rituals and routines. Then after service we would conduct an interview with the participants to answer our personal questions such as ââ¬Å"Why do they do the things they do?â⬠or ââ¬Å"How often do they do this?â⬠I chose to study ChristianityRead MoreReligious Affiliation As A Choice998 Words à |à 4 Pageshas a lot to do with influence from several factors, including the affiliation of their ââ¬Å"parents, ethnicity, culture, and social classâ⬠(142). Conversely, the term religiosity is defined as ââ¬Å"a personââ¬â¢s depth of religious feeling and adherence to a religionââ¬â¢s rulesâ⬠(142), and contrary to affiliation, has a genetic component. Growing up in the Episcopal church, God has always been a part of my life. As I have grown up, however, I have continuously ass essed my religiosity regarding my faith. Using the
Wednesday, May 6, 2020
Personal Opinion Essay - 1185 Words
Name Date Opinion Essay An opinion essay tells what the writer thinks or feels about a topic. People have different opinions about things. In an opinion essay, you write your opinion about a topic. When you write an opinion essay, you choose a topic about which you have strong feelings. You support your opinion with reasons. For this Unit Project, you are going to write an opinion essay about the wetlands of Mississippi. Writing Process Part I: Prewriting Ideas As you learned in Unit 1, Mississippi has wetlands in the northwesten part of the state. Some people have opinions about the importance of wetlands, protecting existing wetlands, and protecting the species that live in wetlands. All of these can be ideas for an opinion essay.â⬠¦show more contentâ⬠¦Write your introduction. State your opinion and try to hook the readersââ¬â¢ attention right away. Look at these examples: Weak Opening I think Mississippiââ¬â¢s wetlands are very important. Strong Opening Mississippiââ¬â¢s wetlands help prevent floods and provide homes for animals and plants. Write the body of your essay. Tell why you think your opinion is correct. Begin a new paragraph for each reason. Write a main-idea sentence for each paragraph that states the reason. Then use at least two supporting details for each reason. Write a conclusion. Sum up your important points. End in a way that your reader will remember. Look at these examples. Weak Closing Mississippiââ¬â¢s wetlands should be preserved. Strong Closing Preserving Mississippiââ¬â¢s wetlands will show future generations that we cared about our environment and about them. We protected wonderful animals and plants that help make our state special. Research and Writing Projects Copyright à © Houghton Mifflin Company. All rights reserved. Name Date Part III: Revising Reread your first draft. Did you state your opinion clearly? Did you include good reasons for your opinion? Did you support your reasons with details? Does your opening catch a readerââ¬â¢s attention? Is your conclusion strong? Word Choice Think about the words you used. Use synonyms to replace words you use too often. Synonyms are words with the same or nearly the same meaning. Without Synonyms I think that wetlands are important. They have land forShow MoreRelatedMy Personal Opinion Essay1349 Words à |à 6 PagesFor as long as I can remember I have been told to constantly strive for more and never settle for less. It wasnââ¬â¢t until one day when I decided to chauffeur a few friends to a local creek that I began to change my personal opinion in regards to exceling in the workplace. During a conversation, my friends and I got on the topic on how each of us was doing. One of us said ââ¬Å"Iââ¬â¢m good, Iââ¬â¢m not overwhelmed or underwhelmed.â⬠and someone responded, ââ¬Å"so youââ¬â¢re whelmed?â⬠This simple and somewhat odd questionRead MorePersonal Opinion Of Victor Frankenstein Essay1721 Words à |à 7 Pagesdifferentlyââ¬âperhaps a lot less deaths. However, I would say that Victor had a very high independent level, and a mediocre social responsibility level on the Emotional Intelligence scale. I believe he had a high independence level bec ause he didnââ¬â¢t ask for anyoneââ¬â¢s opinion on whether or not the monster would have been a good idea. He worked in complete solitude. I also say that his social responsibility level was midrange because once he realized that the monster was causing trouble within the community, he took fullRead MoreEssay Ethnicity and Female Equality: A personal Opinion1529 Words à |à 7 Pages Abstract The subject of my essay will be a compilation of facts and opinions on the role of ethnicity and gender on female status in the United States. Equality for females and males is influenced by ones ethnicity, by the media, by stereotypes, and by the myth of equal rights. The research methods that will be used for this essay will be only the personal opinions of the author of this essay. One believes that the findings of this essay will show that ethnicity and media generated stereotypesRead MoreSports Enhancing Drugs Is Great for sports: Personal Opinion Essay1422 Words à |à 6 Pagesplayers to gain more endorsements and gain more fans. The athletes playing level will raise which will allow their game play to increase, this would attract more fans to like more players because players will be creating higher records and setting personal goals. With more fans the athletes would get more endorsements. This will happen because fans usually look up to athletes, which mean the more fans yo u have, the more people you have that looks up to you. Which would bring marketers right in theRead MoreAvoiding Wastefulness Rather than Recycling: Personal Opinion Essay579 Words à |à 2 Pagesovertaken not only the park, but entire cities. A soda can next to my foot, a hot dog wrapper floating through the air, and a newspaper article lying next to the garbage bin. That struck me the most humorous of all. For, at a closer glance, it was an opinion article based upon this very issue - wastefulness. My friends and I read this article once, also. We were sitting in a cafe, half- finished bagels sitting in front of us, discussing how terrible society has become. While talking on this matter, theRead MoreThe Viking Society and Why Its Better Than Today: A Personal Opinion Essay1136 Words à |à 4 PagesIn the year 793 AD began the greatest reign of terror ever spawned in Europe. The Vikings ruled Northern Europe until 1066 AD and managed to pillage forth into Asia, Southern Europe, and further westward where theyââ¬â¢d eventually find the Americas. Vikings were the most brutal of people; however, they were also very loving to their families, especially their wives. They were also brave and creative. They had a culture much more interesting than our own today. The Vikings were better than people areRead MorePersonal Opinion Essay: Short and Long Length Literature and Example Novels1098 Words à |à 5 PagesMaybe Mr. Adams, who talked to Old Man Warner, in ââ¬Å"The Lotteryâ⬠had opinions and feelings similar to the people he talks about from other villages. Readers will never know. Even with a surprise ending like Jacksonââ¬â¢s story has, it is difficult to accept that every person in this town would feel comfortable or pressured into following through with the murder of an innocent person. Without the sense of doubt or sense of personal growth in any characters, the story does not really leave an impactRead MoreWhy I Am A English?947 Words à |à 4 Pagesprojects. Among many things, the three lessons that I got the most use out of are the following; how to correctly structure an essay, different methods of writing, and the personal growth that Iââ¬â¢ve had since taking this class. With English being my second language, it is difficult for me to express myself in writing form. It is extremely frustrating to have countless ideas and opinions that I would like to share with an audience, but because I am not comfortable with writing, I stay silent for many thingsRead More`` Invading Our Privacy `` : How Technology Can Make People Expose Their Privacy Online1300 Words à |à 6 PagesPersonal privacy is personal information that people keep secret from the public. Many companies and businesses want to protect people from hackers and thieves from using their information, such as Social Security and credit card barcodes, to buy products online or expose their social media pages. However, the public concludes that personal pr ivacy does not exist when the government is watching them. David Plotz, a writer and deputy editor of Slate, wrote an essay entitled ââ¬Å"Privacy is Overratedâ⬠Read MoreThe Believing Game By Peter Elbow1174 Words à |à 5 PagesBelieving Gameâ⬠In the essay ââ¬Å"The Believing Gameâ⬠by Peter Elbow, he discusses the concepts of taking the emotion out of arguments and using logic by seeing another personââ¬â¢s opinion or ideology through their eyes. Elbow uses ââ¬Å"The Doubting Gameâ⬠as his counter-argument in the essay and speaks of how most humans are naturally conditioned to over-analyze any argument that is presented before them. Elbow, while making some insightful points to the way humans think, presents his essay with too much emotion
The Economic Efficiency Principle Underlies Management Effectiveness Essay Sample free essay sample
Before any treatment on schemes the Board undertakes to properly direct and command an entity it will be prudent to hold an apprehension of the function and duties of the Board. It is besides of import to observe here that the function of the Board of Directors has changed significantly since the Enron Scandal of 2001. Far more duties have been placed on the Board after the Enron Scandal in USA than earlier. The Sarbanes/Oxley Act of 2002. which was Americaââ¬â¢s response to the Enron Scandal. introduced what is possibly one of the most important pieces of statute law associated with the inadvertence of corporate moralss ââ¬â which sets guidelines and demands for Accounting. fiscal revelation. and the ethical behaviour of corporations. Other dirts that have contributed ââ¬Å"positivelyâ⬠to corporate administration in entities include the Worldcom Scandal and the Parmalat Scandal. Both of these dirts. along with the Enron Scandal. led to significance alterations on the composing. construction. ethical behaviour. functions and duties of Boardss of Directors over the past decennary. Detailss of these dirts and what part they made to corporate administration will be discussed in this paper. Through Board determinations and determinations of Sub-Committees of the Board. control is exercised in an administration. However. as shall be discussed subsequently in this presentation. the unity of the single Directors and Managers and their committedness to good corporate administration is indispensable for the success of these controls. The failure and bankruptcy of cardinal planetary endeavors including Enron. Parmalat and WorldCom between 2001 and 2003 point to a entire deficiency of ethical behavior by Board and Management despite the being of Sub-Committees of the Board. Traditional Role of Boards ââ¬Å"At the nucleus of corporate administration. of class. is the function of the board in supervising how direction serves the long-run involvements of portion proprietors and other stakeholders. An active. informed. independent and involved board is indispensable for guaranting the companyââ¬â¢s unity. transparence and long-run strengthâ⬠¦Ã¢â¬ General Electric. 2002 Annual Report. Boardss have ever been expected to play important functions in the direction of an entity. How efficaciously Boards play these functions is dependent on a assortment of factors including its composing. whether its members are non-executive or executive. and whether or non the CEO plays the function of chair as good. As I indicated earlier. these functions are rapidly altering and germinating. â⬠¢ The Oversight Role of the Board The function of the Board has traditionally been understood to be one of inadvertence. The Board is expected to oversee top Management of an entity on behalf of stockholders ( some could be portion of the board as non executive managers ) . Stockholders appoint the Board and depute certain authorization. including oversight authorization. to the Directors to ââ¬Å"directâ⬠and ââ¬Å"controlâ⬠the entity on behalf of the stockholders. Their function hence. is non merely limited to taking attention of shareholdersââ¬â¢ wealth and guaranting a good return on investing but besides oversing the top Management to guarantee prosperity and endurance of the entity. In this function the Board is held accountable to the stockholders. â⬠¢ Focal Point for Corporate Governance Conflict of involvement between sitting Directors and the company on whose Board they sit is discouraged. The Board is meant to guarantee that there exist no concern involvements and struggle between their private companies or those of Management and the company. Proper division of the functions and duties of the Board and Management is besides enforced. In order to heighten good corporate administration the Board formulates policies and oversees their execution by Management. This is of import as it ensures independency of the Board. Involvement in concern association with the company frequently erodes the independency of the Board in decision-making. â⬠¢ Guaranting Financial Reporting and Ethical Performance Disproof of an entityââ¬â¢s histories so as to reflect a better fiscal place to the share-holders goes to the nucleus of sound corporate administration of an endeavor. Very frequently. this is done to conceal the directorsââ¬â¢ or the Managementââ¬â¢s ain misdirection. It is hence the Boardââ¬â¢s function to guarantee proper accounting is done and the audited histories are presented to the share-holders by the Board. â⬠¢ Ensure the entityââ¬â¢s Future Survival Adoption of policies and preparation of schemes that guarantee strategic aims are achieved is a cardinal map of the Board. Achievement of strategic aims is of import in guaranting endurance of an endeavor. â⬠¢ Hiring and Puting the Wage of the Chief executive officer ââ¬Å"Hiring and firingâ⬠the Chief Executive Officer of a company is besides the function of the Board. The Board is besides responsible for the hire of Senior Management staff of an endeavor. However. as shall be discussed subsequently in this presentation. complications arise when the sitting CEO is besides the Chairman of the Board. Although the Board may depute of its maps to the CEO. such deputation does non intend stepping down of duty. â⬠¢ Risk Anticipation and Management Survival of the endeavor is one of the cardinal functions of the Board. as stated earlier. In order to make this. the Board needs to be able to buttockss and manage hazards that face the endeavor. This function is comparatively new and does non purely fall within the traditional functions of the Board. Increasingly. boards and direction squads are encompassing the construct of endeavor hazard direction ( ERM ) to better link their hazard inadvertence with the creative activity and protection of stakeholder value. ERM is a procedure that provides a robust position of cardinal hazards confronting an organisation. In todayââ¬â¢s environment. the acceptance of ERM may be the most effectual and attractive manner to run into of all time increasing demands for effectual board hazard inadvertence. If positioned right within the organisation to back up the accomplishment of organisational aims. including strategic aims. effectual ERM can be a value-added procedure that improves long-run organisational public presentation. ERM can. therefore. help direction and the Board in doing better. more risk-informed. strategic determinations. SUB-COMMITTEES AS CONTROL MECHANISMS From the treatment so far. we notice that the Board has assorted responsibilities and duties to fulfill share-holder outlooks. guarantee the endurance of the endeavor. mitigate hazards and control. hire and fire the CEO and top direction. Let us now discuss how the Board exercises way and control of an entity. Assorted mechanisms and schemes are at the disposal of the Board in this respect. We shall discourse each one of these schemes in bend. However. it must be noted that personal unity of the Board Members and Management is critical in the success of these mechanisms and schemes. I ) Decisions of the Board as a Mechanism / Strategy The Board is the supreme policy doing organ in an entity. It meets quarterly. normally. or as the demand may originate to reexamine the public presentation of the administration. Through Board determinations Management is left with small or no leeway but to implement Board determinations. In this manner. the Board exercises control of what may or may non be done by direction. The Board is responsible for internal control in company and for reexamining its effectivity. Procedures are frequently designed for safeguarding assets against unauthorized usage or disposal ; for keeping proper accounting records ; and for the dependability and utility of fiscal information used within the concern or for publication. Such processs are designed to pull off and extenuate the hazard of failure. At Board meetings. Management presents its ain proposals for blessing or rejection. Rejection or blessing is the Boardââ¬â¢s privilege and an option the Board exercises in order to command what happens in an entity. Control is exercised through: O Approval. rejection or varying of the entityââ¬â¢s budgets. O Approval. rejection or varying of departmental budgets. O Approval or rejection of contracts. O Hiring or / and fire of the CEO and top direction. o Adoption of Audited Accounts of the company. o Formulation of policies and schemes for their execution. I ) Board Sub-committees as a Mechanism / Strategy For specialised examination. control and way. Boardss organize themselves into Sub-Committees of the Board. These sub-committees may be lasting or ad hoc. What is indispensable is that they are chaired by a Board member with alone makings. experience and apprehension of the nature of the undertaking. The bomber ââ¬âcommittees besides have within its rank Board members with the needed experience. preparation and professionalism. Examples of Sub ââ¬â Committees of the Board may include: o The Audit / Risk Monitoring Sub Committee o The Staff Sub-Committee/ Remuneration Sub-Committee o The Nomination Sub ââ¬â Committee o The Corporate Sustainability Sub-Committee In order to to the full understand how Boards exercising control through sub-committees. we need to analyze the functions of these sub-committees. a ) The Audit/ Risk Monitoring Sub Committee The constitution and care of appropriate systems of internal control is chiefly the duty of the Audit Committee. The Internal Audit map. which is centrally controlled. proctors the effectivity of internal control structures across the whole administration and studies to the Audit Sub-Committee. Even though the Internal Auditor is a cardinal member of staff. the resident of this office does non describe to the CEO but instead. to the Audit Sub ââ¬â Committee. In this manner. Board exercises control. The Audit and Risk Monitoring Sub Committee is besides responsible for reding the Board on high-ranking risk-related affairs and hazard administration and for non-executive inadvertence of hazard direction and internal controls ( other than over fiscal coverage ) . Seasonably coverage is indispensable for the company to take disciplinary action. B ) Staff Sub-Committee/ Remuneration Sub-Committee The Staff/ Remuneration Committee is responsible for O.K.ing wage policy. As portion of its function. it considers the footings of fillip programs. portion programs. other long-run inducement programs and the single wage bundles of executive Directors and other senior company employees. including all in places of important influence. However. for the exclusive intent of heightening unity. no managers are involved in make up ones minding their ain wage. This Sub Committee is besides charges with the duty of choice. short listing. recruiting and repairing wage of the CEO and Senior Staff. It besides handles issues refering to publicity. reclamation of contracts. and subject of the Staff. The Chairman of this Sub-Committee is normally a Board Member conversant with affairs of Human Resource Management and Labour Relations. It is of import to observe that enlisting of the CEO and Senior Management is capable to their sign language of a ââ¬Å"Performance Contractâ⬠Findingss and recommendations of this Sub-Committee ( as all other commissions ) are so presented to the Board for blessing. In this manner. the Board. through this scheme ensures all enlisting ( degree Celsius ) Nomination CommitteeThe Nomination Committee leads the procedure for Board assignments. and identifies and nominates campaigners. for blessing by the Board. with the support of external advisers as appropriate. and satisfies itself that appropriate programs are in topographic point for orderly sequence to the Board reflecting an appropriate balance of accomplishments and experience on the Board. Before urging an assignment to the Board. the Committee evaluates the balance of accomplishments. cognition and experience of the Board and. in visible radiation of this. and taking into history the demands of the companyââ¬â¢s concerns. identifies the function and capablenesss required for a peculiar assignment. Campaigners are considered on virtue against these standards. Care is taken to guarantee that appointees have adequate clip to give to the company. Corporate Sustainability Sub- Committee The Corporate Sustainability Sub-Committee is responsible for supervising the companyââ¬â¢s Corporate Sustainability policies ( chiefly environmental. societal and ethical affairs ) and for reding the Board. commissions of the Board and executive direction on such affairs. Ideally. a company should hold a Corporate Sustainability/ Responsibility section within the Head Office. In certain companies. this section is a unit in the Human Resource Department. As I mentioned earlier in this presentation. the map of this sub-committee is comparatively new and was non a traditional function of the Board. Besides the Sub Committees that I have discussed above. the Board normally has discretion to organize other sub-committees as and when it deems fit. OTHER CONTROL MECHANISMSI ) Performance ContractsThese are normally marks set by the Board for accomplishment. The Chief executive officer and Senior Staff are given marks that are measureable and accomplishable that they must run into. Failure to run into these marks would ask for countenances against the Manager concerned. Directors. in some cases. are besides subjected to public presentation contracts by which accomplishment of set ends and aims are gauged. two ) Continuity through Retirement by Rotation This is a mechanism where tierce of Board members retire from the Board go forthing two-thirds of Board members to go on in their functions. New Board members are so invited to replace the retiring Board Members. This mechanism ensures continuity and control of the entity as there will be more ââ¬Å"oldâ⬠Board Members to supply way. Control of the entity is non lost. hence. three ) Reporting Structures as a Control Mechanism This is a construction in an organisation that indicates duties of every function participant and the coverage lines. It is known as an ââ¬Å"organo-gramâ⬠or the ââ¬Å"Organization Chartâ⬠. The Board of Directors at the top with Sub-Committees below it. It requires that the Sub-Committees study to the Board. The Chief executive officer on the organo-gram is placed below the Sub-Committees. and below him. all the other staff in order of Seniority and Responsibility. Strict attachment to the coverage structures ensures control. It besides allows the Board to give way on what should be done. The Enron Scandal ââ¬â lessons learntThe best illustration of what Boards should non make was provided by the Enron Scandal of 2001. The Enron dirt is the most important corporate prostration in the United States. This dirt demonstrates the demand for important reforms in accounting and corporate administration in organisations. every bit good as for a close expression at the ethical quality of the civilization of concern by and large. I shall try to analyze grounds for failure of Enron. one of the most powerful corporate giants in United States history. I ) Conflict of Interest One of the most important dogmas of good corporate administration is the riddance of struggle of involvement. There should non be any struggle between personal involvement an entityââ¬â¢s corporate involvements. At Enron. Arthur Andersen was the external hearer but was besides a adviser to Enron. He did concern with Enron. Enron faced a state of affairs where any payments made to Arthur Anderson in his capacity as a Consultant were subsequently audited by himself as an External Auditor. This clearly led to an unacceptable struggle of involvement. two ) Disproof of Books of HistoriesThe deficiency of attending shown by members of the Enron board of managers to the off-books fiscal entities with which Enron did concern ; and the deficiency of truthfulness by direction about the wellness of the company and its concern operation led to a hapless fiscal province and near ââ¬â prostration of the entity. Arthur Anderson. in his function as Auditor. admitted before a Congress Sub-Committee to holding falsified the histories and to holding shredded or concealed official histories that related to Enron. three ) The Boardââ¬â¢s Failure to Monitor One of the rule functions of the Board of Directors is to supervise and measure the public presentation of an endeavor to guarantee that stockholders get a just return on their investing and that the endeavor itself survives. At Enron. the Board was paid inordinate sums as wage. This gave them small motive and inducement to closely supervise what direction was making. They failed to protect share-holder wealth. The blazing deficiency of moralss at Enron was in malice of the being of a Code of Ethics. Sub ââ¬â Committees of the Board. Performance Contracts. Audit and Risk Monitoring Committees and all the control measures. The deficiency of moralss and what came to be known as ââ¬Å"reckless greedâ⬠on the portion the Board and Management continued and was abetted by the Board. The Oxley Act. 2002 Following the Enron corporate and accounting dirt in the USA. Congress passed the Sarbanes-Oxley Act of 2002 ( Sarbanes-Oxley ) . Sarbanes-Oxley established new and enhanced criterions for corporate answerability in the USA. Even where an entityââ¬â¢s corporate administration construction was believed to be robust and in line with best pattern. alterations were necessary to guarantee conformity with Sarbanes-Oxley. Senator Paul Sarbanes and Representative Michael Oxley. who drafted the Sarbanes-Oxley Act of 2002. sought to put farther answerability. better corporate administration and ethical behaviour in companies. The Oxley Act. 2002 had the undermentioned new steps: 1. Created a Public Company Accounting Oversight Board to implement professional criterions. moralss. and competency for the accounting profession ; 2. Strengthened the independency of houses that audit public companies ; 3. Increased corporate duty and usefulness or corporate fiscal revelation ; 4. Increased punishments for corporate error ; 5. Protected the objectiveness and independency of securities analysts ; and 6. Increased Securities and Exchange Commission resources 7.Prohibited the allowing personal loans to members of the Board and Management Staff. Enron collapsed as a consequence of corporate misbehaviour. If anything came out of the Enron Scandal it is that the dirt itself heightened consciousness of the importance of unity in Accounting and Business in general. Ethically. the Enron Scandal led to the passage of the most important pieces of statute law associated with inadvertence of corporate moralss. The Sarbanes-Oxley Act. 2002. Mentions Board of Directors http//Wikipedia. org ( accessed on 24th July. 2012 ) Committee of Sponsoring Organizations of the Treadway Commission ( COSO ) . Enterprise Risk Management ââ¬â Integrated Framework. September 2004. New York. NY HSBC Group: Internal Control: Revised Guidance for Directors on the Combined Code: HSBC Group 1992 The Sarbanes-Oxley Act. 2002 U. S. Securities and Exchange Commission. Address by SEC Chairman: Address to the Council of Institutional Investors. 2009 Zameeruddin. R ; The Sarbanes-Oxley Act of 2002: An Overview. Analysis. and Caveats. Northwestern Illinois University. Illinois. USA
Subscribe to:
Posts (Atom)