Materiality in Auditing Essay Example | Topics and Well Written Essays - 250 words

Materiality in Auditing - Essay Example Due to economic turmoil, every company has become more conscious about financial statements and auditing. The mission of the financial audit is to offer credible information for the effectiveness of the decision making process. In auditing function, materiality is an important concept. As per the Council for International Accountancy Standard (IASB), materiality is defined as a â€Å"general code for drawing up and presenting financial statements† (Maria & Franca, n.d.). Materiality is regarded as a financial misstatement. The variation is amid the budgeted and actual cost on the basis of the material purchased. Varied financial institutions and organizations have used materiality to make auditing report perfect (Fields, 2011). Therefore, Financial Accounting Standard Broad has renounced quantitative guidelines for determining materiality in auditing. In general auditing of a company is to provide a fair image of the financial statement. Nowadays, every private organization us e materiality to maintain secrecy in financial accounting statements. With the help of auditing systems financial institutes has minimized materiality in company’s financial statements (Baietti & et. al., 2012). It has been minimized by implementing the concept of materiality in the planning as well as final process. Materiality relies on various aspect of element considering situations of erroneous omission or presentation. The objective of this paper is to highlight materiality importance in auditing. Moreover, this study also highlights recent audit regulation, changed audit practice in relation to disclosure of materiality. The audit represents a professional reasoning that can be applied in any domain. The main purpose of discrepancies reported is to control some corrective measures necessary for reduction or elimination of identified discrepancies. The materiality concept depends upon dimension of element or an error

Kite Runner of Khaled Hosseini Essay Example | Topics and Well Written Essays - 750 words

Kite Runner of Khaled Hosseini - Essay Example Comparison between Amir and Hassan The comparison between Amir and Hassan shows that Amir is a jealous person as opposed to Hassan. This is because, whenever Amir sees his father loving Hassan more than him, he gets jealous. As a result, he seeks methods aimed at attracting his father’s affection by trying hard and winning the local kite-running tournament. To ensure that he remains alone with his in their home, he frames Hassan as a thief by planting some money and a watch under his mattress so that when his father finds out Hassan is a thief, he will force him out of the family. In addition to jealousy, Amir is cold and a coward. For instance, when Hassan takes long after going to look for the blue kite, he goes searching for him and when he finds him in the hands of Assef who bullies Hassan and sexually abuses him, he does not help him (36). Besides, he hides and watches helplessly but thinking if he does get the blue kite to his father, he will approve him. In the other en d, Hassan is a true successful kite runner. Hassan is also a brave boy and loving friend. For instance, when Assef tries to attack Amir, he steps forward to defend Amir simply because he is brave and a caring friend for he defends his closest friend Amir. Similarities between Amir and Hassan The novel portrays Amir and Hassan as closest friends despite Hassan being a Hazarajat and therefore not allowed to stay close to Amir traditionally. The novel gives a number of similarities between Amir and Hassan. For example, within the context of their close friendship just as portrayed in part of the novel, it is deducible that both Amir and Hassan are friendly (44). Hassan is a Hazarajat and their tradition does not approve of his friendship with Amir. On the other side, Hassan does many things to help Amir due to their friendship. He defends him from bullies and helps him win the local kite-running tournament (59). All this happens because they are both friendly. When Amir returns to Paki stan after Rahim Khan who is ailing calls him, he establishes something that portrays another similarity between him and Hassan. Khan tells Amir that, for all that time he was not aware but as of that time, he knows. Khan is certain that Ali was not the true father of Hassan; his real father was Baba, Amir’s father. On that note, Amir finds out that Hassan was his half brother and they both shared the same biological father. This shows that, apart from being closest friends, they are also brothers. It is therefore agreeable that Amir and Hassan have another thing in common which is, they share the same father (64). Furthermore, both Hassan and Amir have talents. The novel portrays Hassan as a talented kite runner while Amir has talent in locating where the kite will fall even without looking. Thus, their talents are also part of the similarities that they share. How do their differences ruin their relationship? Amir and Hassan relate as friends and share the same home. Howeve r, they are not relatives. Baba, Amir’s father is rich and Amir gets almost everything that he wants. Hassan on the other hand ails from a poor family and can only get what is necessary. Since Amir feels that his father does not love him as much as he loves Hassan, he resolves to do things that ruin his relationship with Hassan. For examp