An auditor only looks at financial statements during a review without digging deeper to find any material misstatements or potential fraud, there is no review of the company’s internal controls, also the auditor does not look at any files that backup the financial statements they are given. In this case, the owner of the company hindered the auditor’s from doing their due diligence because he did not want his fraud discovered. 2. According to AU 326 of the Public Company Accounting Oversight Board, information from outside sources should be reliable. There should have been many substantive tests performed, objectives set forth, due diligence for true existence or occurrence of any files or contracts.
Wall Street Journal, pg. A.1, Retrieved August 16, 2008, from University of Phoenix Online Library, ProQuest Database, (Document ID: 1513933231). Nelson, T. P. (2008, Jul/Aug). Trends in subprime lending: Legislation, litigation, and enforcement on the rise. Business Law Today (17)6, 27.
As Gillman explains, two fundamental principles were at the core of the New Deal constitutional vision. The first, which has substantially been justified thus far, is that “the national government was responsible for solving all national economic and, increasingly, all social problems” while the second principle was that “the national government was responsible for guaranteeing to all American citizens a broad array of both positive and negative freedom” (Gillman 417). Put simply, negative freedom generally refers to protections from government while positive freedom can be understood as duties on government. Remarking the rhetoric Roosevelt’s Four Freedoms speech will shed light on the great extent to which this latter principle was prevalent. In 1941, Roosevelt exclaimed in this speech that he gave as the State of the Union address that: freedom of speech, freedom of worship, freedom from want, and freedom from fear are to be regarded not only as “essential human freedom,” but also “as much elements of man's needs as air and sunlight, bread and salt.” It is critical to notice that the latter two stand out as peculiar.
This evidentiary rule protects both attorneys and their clients from being forced to disclose confidential communications between them if the communications are for the purpose of furnishing or obtaining legal advice or assistance. The rule extends to any legal proceeding whether it is civil or criminal in nature and at anytime during the procedures. Although no one specifically asked for my legal opinion or advice, I am attending these confidential meetings in my capacity as ABC’s general counsel. Therefore, the confidential information is protected under the rule of attorney-client
Court View of the Commerce Clause Waxed and Waned, is Now Broad What is the Commerce Clause? Where is it found in the law? To what areas of business does it apply? According to the Tenth Amendment, the Commerce Clause grants Congress the power “to regulate commerce with foreign nations, and among the several states, and with the Indian tribes.” This refers to Article 1, Section 8, Clause 3 of the U.S. Constitution. This means that Congress regulates commerce in order to make certain that the course of interstate commerce is free from local restraints imposed by many states.
The economic system of the United States is sculpted after the concept of capitalism. Capitalism supports free enterprise - private business operating without government regulation. The United States does standardize private businesses. Sometimes special circumstances arise which threaten to deteriorate the overall economic solidity of the country. In order to adequately manage these situations, the United States government has passed many laws permitting certain groups the ability to bring attention to as well as stop the threat.
References Board, E. (2012). Introduction to Business Law (1st ed.). Words of Wisdom, LLC. Bayley, E. (2009, November 16). The Clicks That Bind: Ways Users "Agree" to Online Terms of Service.
For example, a new legislation or a regulatory change of policies from the government will affect business activities. Social factors relate to changes in the behaviour, tastes and lifestyles of communities on a local, national and international scale. In a business, it is important for the marketing department to take account of the various social characteristics of the consumer groups for their target market. Legal factors relate to the laws, regulations and legislations which affect the way a business functions. For example, common law for business balance prohibits paying a little and getting a lot.
The purpose of this paper is to define and discuss the Commerce Clause of the Constitution of the United States of America. In addition to defining the Commerce Clause, I will discuss the original intent and purpose of the Commerce Clause. Furthermore, I endeavor to examine the state of commerce in the colonies/states prior to the adoption of the Constitution of the United States of America. Finally, I will examine the evolution of the Commerce Clause from its inception to a present day understanding of the Commerce Clause. Merriam-Webster’s definition of the Commerce Clause is, “In the Constitution of the United States (Article I, Section 8), the clause that authorizes Congress “To regulate Commerce with foreign Nations, and among the several
Allowing conflicts of interests to go unresolved when the paralegal is fully aware of its presence is a violation of Section 1.6 of the paralegal code of ethics. There are many methods in which conflict can be avoided between any of the two parties. A couple of these approaches include: effective bookkeeping and never discussing matters from previous assignments or