Modernization Theory Of India s Democracy - 1722 Words

support their emergence of democracy. The idea that economic development will lead to democratization and democratic consolidation generally holds for most cases. More often than not, increasing economic development increases the probability that any given society will have democratic politics. Although this theory is widely spread it does not seem to account for all cases, such as India. Due to the large population of India, the defying factors against modernization theory are not easily overlooked. Many scholars have been analyzing the deviant case for years, trying to find out how they defied the modernization theory. India is considered a deviant case because it only recently began to see notable economic development, and for most of the twentieth century the country was profound poor. Looking through the modernization theory it would lead us to believe that India was ruled by an authoritarian regime due to their poor economics. Because they defy this belief and have been a democratic country for a prolonged time it is evident that India does not conform to the modernization theory. India’s democracy emerged amidst severe poverty, widespread illiteracy, and a largely agrarian and rural population characterized by vast linguistic and ethnic diversity. However, India was able not only to transition to but also consolidate a robust democratic system that has survived for over sixty years. The historical process of Indian democratization challenges the central premise ofShow MoreRelatedThe Second Wave Of Democracy1682 Words   |  7 PagesThe third wave of democracy started in Portugal in 1974 and spread to Asia, Eastern Europe, and Latin America. This included spreading democracy to many nations that were previously thought to be inhospitable to democracy. This led many scholars to re-evaluate the leading theories on democratization in an attempt to correlate and understand this newest wave of democracy. Many of the countries that didn’t fit in this established wealthy, mostly †Å"Western† mold, could be classified and explained byRead MoreIs India A Successful Democratic Country?1461 Words   |  6 PagesNations look at the United States as an example of a successful democracy, which is not necessarily true. The United States does a better job at making sure it’s citizens are well aware of their individual rights and liberties. Although many countries claim to be democracies, not all fulfill the duties a democratic nation has to its people and its society. The South Asian country of India is an example of a nation that is a titled democracy, but fails at successfully performing democratic responsibilitiesRead MorePositive Effects of the British Colonization of India Essay1365 Words   |  6 Pagesof India. When the East India Company took control of India in 1612, they began modernizing, westernizing, and industrializing India. This westernization included giving women more rights, an attempt to eliminate the caste system and the loss of man y of the more backward Hindu religious beliefs such as the domination of women by men and denying an entire class of people any rights. British occupation also did things long term for India. The modern technology and western customs allowed India toRead MoreEssay on Is Democracy a Precondition for Development?2576 Words   |  11 PagesIs democracy a necessary condition for development? In the modern and globalized world, it is common to find democratic institutions in the most economically developed countries. Democratic regimes look different all across the world, and the term itself is multi-faceted. For the sake of discussion, in its simplest terms, I will refer to democracy as a system of governance where the population that is governed elects their leaders. 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It presents a chronological evolution and comparison of approaches and findings. The goal of this report is to clarify the understandings and the uses of the most influential theories, strategiesRead MoreEssay about Nepal1826 Words   |  8 Pagesownership, and location are also historically important social determinants. Nepal’s history and geography have contributed to the perpetuation of these cultural values. Historically, Nepal has been very isolated. Situated between China and India, it is bisected by the Himalayas. The country is divided into three bands running from east to west – the Himalayas furthest north, the flat and dry Terai in the South, and the middle hills sandwiched in between. 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Keywords: Panchayati Raj Institutions, political participation of women, Women Pradhan, information communication technology IntroductionRead MoreProposed Market Entry Strategy for Tesco - Indian Retail Food Market2205 Words   |  9 Pageslevel of sustained growth achieved by the Indian economy over the past decade and more is truly staggering and the impact of its booing manufacturing and services sectors is transforming Indian society at an unprecedented rates. India is the world’s largest democracy and has, since its independence in 1949, maintained a stable legal system with an independent judiciary, invested heavily in education and training building a wealthy middle class that rivals or exceeds Europe’s in terms of populationRead MoreHow Corruption Varies With Culture2982 Words   |  12 Pagesreduce the uncertainty. While doing businesses overseas firms must calculate their transaction costs that consists large amount of bribery paid to bureaucratic agencies, as their main aim is to achieve competitive advantage over their competitors. As India, Indonesia and China all are high context cultures where society and its beliefs are given more value. People do believe in maintaining relationships among them. References †¢ Pope, J., 2000. Confronting corruption: the elements

History of human resource management Free Essays

Human resource management has always been a part of man’s life even before its name was suggested. This paper will discuss how human resource management has changed over the years. The paper will also discuss how the changes in workforce has effected the human resource management of today. We will write a custom essay sample on History of human resource management or any similar topic only for you Order Now The effects of globalization in today’s HRM will also be looked after in this paper. The world has changed over the years and so has the jobs. New jobs have been created and now labor is taken differently by the employers. The economy has brought a big change in how people take the challenges of human resource today. History of Human resource management Human resource management means to manage the people. It is also known as personnel management at times. The human resource management has changed over the past years. Now it is not only about dealing with the employees of the organization but to also see other parts of the organization. The human resource managers of today are more involved in workforce identification and establishment of the firms. Today it is more about strategically managing the firms. Different definitions have been given in the past after looking at the changes that occurred in this field of human resource (Mote, n. d. ). In the past, human resource management was referred to as the labor management. Chinese are known to be the pioneers of the management. Before any other man came up with the concept of human resource the Greeks had already developed the idea of it. Many past civilizations used the concept of human resource management but were not familiar that what it exactly was. The main idea of HRM remains the same and that is to have maximum productivity for the organization. The difference that has arrived is of the strategies that are now involved in achieving this goal of greater productivity through proper management of labor (Lockwood, 2005). In the start the economies around the world were based on agriculture. People worked as farmers or worked for landlords to earn their living. Everyone was on their own and only landlords were the basic human resource managers at that time. Then came the industrial revolution and things changed. Workforce shifted. People switched jobs. A big lot left farming and moved towards working in an industry to earn a better living. Due to this revolution immigration towards developing countries also increased. The human resource management became more complex now. The task now was to deal with people from different nationalities (Khilawala, n. d. ). The culture was different and therefore styles had to be adapted in order to maximize productivity. Proper techniques were developed and recruitment and selection took place through proper channels. With the rise of industrial revolution also came the task of dealing with unions. The human resource department thus had to find ways to resolve conflicts between unions and management. The function of HR changed again. A major shift came from the idea of having a corporate culture. This way people were given more importance. The efficiency was not the only important factor then. The worker’s satisfaction to gain efficiency was now the issue. Human resource management had to again go through the new process of developing new ways of keeping the employees satisfied. The people started looking for jobs that would give them more satisfaction and an environment where they can achieve success with satisfaction. Now it was just not the era of industry but competitive industries(Friedman, n. d. ). Different laws came and the human resource department gained more importance. The corporate put a lot of emphasis on this department because a lot of laws had been passed and no organization wanted a law suit against them from their employees. The human resource department took a new turn when strategic human resource management was introduced. New strategies were now involved and the human resource department was being looked at from a different angle (Mote, n. d. ). The human resource management of today is an entirely different thing. People shift jobs and look at the aspects of better living styles. Globalization has changed the way people see human resource department now. The multi national companies have strong human resource managers in order to look after the employees from different nationalities. This helps in building a strong reputation of the organization. The human resource managers of today not only have to look after the people but the organization as a whole. The main job of today’s human resource managers is to have a focused approach of how the strategies of the organizations will be followed. So it all depends on the human resource managers and their style of management that how they carry the organization in order to achieve greater productivity. The better the attitude of human resource manager the better would be the response from the employees. It is the main job of the managers to keep a focused approach on how to keep the managers and employees satisfied specially in today’s world where there role is so diversified. How to cite History of human resource management, Papers

Auditing Report Workability and Reliability

Question: Discuss about the Auditing Report for Workability and Reliability. Answer: Introduction According to the analysis of entire financial scenarios of Lehamn brothers has been collapsed due to negeligence and ignorance of appointed auditors and it is also a potential liabilities on them rectify because it is the one of big reason behind collapse of entire economy due to financial crisis at that particular moment of time. basically financial deficiencies are measured on the basis of approvement on specific part of the financial structure for resolving the related problems which initiated at the beginning point of time (Crockett and Ali, 2015, pp.80-104). The auditors are initially faced issue while finding out difficulties to gain the confidence of the short term investors, because for long run concern, company required to reform their financial system, redevelop the regulations and securities with esurance of proper market guidelines for efficiently handle the business and economic activities. These concern products are also showing reliability concern for cooperating with the proper guidelines and collaboration between each and every monetary concern in all around the world. The financial structure of the company required to be improved and enhanced in several aspects. There are many similar business activity players in the market prefers hedging the holding funds which is not required to be bound, according to the severe system reporting within that specified period of time. It is also complex job to decide the specified price for a newly generated financial instruments, on the other hand, it is also difficult to identify the reviewing the risk related to investment activities (Dorfman and Cather, 2012). it was also raised several questions for the investors for the investment related risks. As per the study and analysis, there is an opportunity which is related to the reviewing the investment related risks and also identify the initial point, from these risks are generated. After measurement if the specified risks related to the investment activities, it will be easier for the auditors to develop the appropriate guidelines and regulations for the finan cial scheme company about to start to recovered the affect of fianncial crisis. About Financial Crisis and Auditor Liabilities: There are several guidelines which is facilitating the aim and objectives of an auditors while fulfilling their goals related to preparation of auditing and financial reports. As per the ISA 200, it is found that the primary objectives and goal of an auditor and financial reporter is to properly applied for the financial structure of a specified organization. every organization should follow the guideline which declaring that each and every audit procedures required to be followed, on the basis of professional standards and also always required to be open house policy with shareholders and stakeholders of the company after their auditing process completed (Gerrans, Faff and Hartnett, 2015, pp.165-185). As per the entire financial crisis analysis shown that auditors liability within an organization is always subject of judgement and analysis on financial statements retstated by the organization for a specific financial period of time. It is also essential for an auditor while shaping their nature, scope and auditing processes for the evaluation processes on the basis of different evidence of financial audits and related outcomes. The appointed auditors of the company required to show some professionalism for structuring the financial statements of the company by removing all manipulations and errors (Carson, Fargher and Jiang, 2013, pp.301-338). The appointed auditors of Lehman Brothers might would faced difficulties while proper identification of material misrepresentation which is actually considered higher priority, in terms of providing fair financial services to their investors in the market. The authorized auditors job responsibility within an organization like Lehman Brothers is to proper and appropriately accessing the merits and measurement which is related to the specified amount of outcomes on the procedures of the auditing as per the specific analysis of the auditors. As a auditor, the prime responsibility of an auditor is to appropriately accessing the reliability and fairness of an financial statement produces by the organization within a specified financial period. There are also identifies that auditors in the organization are sometimes not able or authorized to provide their proper point of view regarding several problematic scenarios and also faced difficulties due to maintaining the specific auditing standard in the organization. there are several inverse scenarios are also affecting the genuine and proper financial report (Holm, 2014, pp.7-26). It is also is possibility that the auditing liabilities of an auditor might be enhanced with prospective of preparation of proper statement of financial position of the company. According to the IAS 10, All the events performed after Balance sheet date mainly refers to proceeding with most positive and adverse attitude also the occurrence schedule between financial statement and declaration filling for monetary transactions. There are mainly two ways for checking the auditing process from auditors end: By providing the confirmation for the financial statement schedule as per the existing circumstances. Identification of the different scenarios by measuring the alteration in the fiscal report and its measurement accordingly. The appointed managers of the organization are following the procedures for making business decision and other regulation for initiating the financial statement and reports. This is also found that it is sometimes problematic for the auditors of the organization for identifying and representating the fair valuation of the financial report generated by the organization (Wright and Wright, 2014, pp.35-50). The appointed auditors of an organization is also liable for ensuring the quality control activities through their auditing activities. According to the IFAC stanadards, it is found that proper monitoring on any job provides quality work as per the performance of an individual auditors. Quality control is one of biggest factor in auditing process to access the proper reliability and also eliminating the risk for that particular processes. This stanadards and policies are also providing assurance for monetary auditing: Auditors are bound to complete any auditing process by signing each and every paper reviewed from their end. Authorized person is liable to provide proper signature and specific date of auditing processes. Auditors are liable to analyse the appropriate profitibility scenario of a particular firm or organization within a specific schedule. The authosied auditors are also accountable for the assessment activities by using inner control system, which is supportive to recognize the manipulative and fraud activities. the auditors are also eligible enough to recognize the higher amount of auditing ability through the help of internal control system (Clout, Chapple and Gandhi, 2013, pp.88-108). According to the international auditing standards mainly misleading and misrepresentation activities are done for the purpose of doing fraudulent activities and due to intentional or unintentional activities. The entire fraudulent activities are recognised as intentionally done for the purpose of getting more financial benefits by the illegal process and also for the unjustified events like assets theft activities, documents manipulation and also forging with financial figures of the organization and also misrepresentation of the accounting policies attended within a specified period of time. Unintensional and intentional error in auditing process are considered as mistakes which is shown in the financial statement and figures provided by the appointed auditors of the company for receiving the illegal gain from the business processes. On the other hand, sometimes it is unintentional done by an individual on mistake basis, not for the purpose of achieving anything in monetary purpose. There are several mistakes and errors related to amending wrong accounting calculations and figure indetification, which is affecting the financial statement of that organization within that specified period of time (Symeonidou and Bruneel, 2014, pp.16364-16364). As per the ISA 240 stating that, Auditors job is to judge fraud in an audit of financial reports. The financial auditors are not allowed enhance or avoid the fruadulents and misrepresentation activities. The appointed auditors of the company like Lehman Brothers are also responsible for forging or misplacement of confidential databas e outside the organization. being holding a auditors position in an organization is very difficult and full of challenges for fulfilling their responsibilities. They are also required authorities to provide the essential risk factors enclosing the several factors for future assessment. There are various types of auditing risk factors are identified and classified as a essential factors for incorporating a false financial statement and also for several unintentional mistakes arises due to misallocation of the provided assets. The main responsibilities of auditors are recognised through creating a questionnaire for monitoring the fraudulence activities and also providing appropriate assurance for the fact sheet without including any misrepresentation (Couch and Wu, 2016, pp.83-98). The appointed auditors are required to be capable enough to keep transperency and transformation to meet their responsibilities and goals. On the other hand, auditors liabilities are one of the necessary part for making proper adjustment and corrections in the released financial statement reports. Incorporation Corporate Law Economic Reform Program 9 The Corporate Law Economic reform Program (CLERP 9) was implemented in the month of October in 2003 in the parliament. However, it came into the effect on the month of July in 2004. This new additions introduced in this project have the focus on boosting the public admission requirements of the corporations (Houghton, Kend and Jubb, 2013, pp.139-160). Some of the corporate statements required to comprise to allow the shareholders to evaluate the business procedures, strategies and the financial conditions during the progression of (CLERP 9) (Carey, Monroe and Shailer, 2014, pp.370-380). Section 299A of this program listed the public corporation requirements for including annual report of the directors for the shareholders to make efficient assessment such as understanding the financial status of the business and the efficiency of the strategies implemented by the organization for the future business operations. Compulsion on the public companies for testimony on the important environmental conditions, which may have potential impact on the financial status of the organization is highly require to understand the section 299A of the program (Kuan, 2014). The environmental issues may get an high importance in the governance issues if this section is included. Some of the major environmental issues, which needs disclosure comprises are: Issues regarding the availability of the water resources Issues regarding the Greenhouse gas emissions It is essential to attend the Annual General Meetings (AGMs) for the auditors and they should turn after five years. Disclosures on several facts associated with the non-auditable services will also be needed. As per the Act, the auditor required to maintain the independence and develop annual declaration on this fact i.e., the liberty or independence was maintained. This policy is protective to the employees and the contractors who have the chance to report some sort of breaches of the Corporation Act to ASIC (Samsonova-Taddei and Humphrey, 2015, pp.55-72). It should also include the level of knowledge and experience of the secretary of the company. The administrative details of the past three years of all the company listed in this program are essential in this context. According to this regulation, the details regarding the remuneration of the secretaries, directors and the general managers of the companies should also be disclosed. The environment of the corporate governance in Australia has been changed after getting this law effective in 2004. The program is helpful for balancing the corporate behavior of the organizations. Incorporation of the Audit Firms The auditors need flexibility regarding the restructuring the business models they are used for the business operations in order to get the most effective outcomes. The law firms are able to permit the auditors for assisting the services via a corporate structure, which may beneficial for them while the liabilities are limited (Carey, Knechel and Tanewski, 2013, pp.43-53). The audit firms can incorporate as company that may lead to a healthier competition among all the audit firms in the specific area by allowing an audit by the companies. Incorporation of the audit firms as the cost associate of the company; it can be directly passed to the customers or the clients of the companies. The companies should allow the audit firms to incorporate the new strategies. However, there must be some limitations regarding this. Professional Indemnity Insurance This is about the requirement of compulsory professional indemnity insurance for the holders and candidates of CPP (Cabral and Alexander, 2014). There are some limitation in the liabilities of the affiliated members and the entity members, depending on which the amount of break is decided or limited. Some important aspects of this regulation are as follows: In this regulation the meaning of member is a holder or candidate of a CPP or Affiliated membership. The meaning of principal associated with to the practice refers to a person who is a principal of the practice, trustee, a partner or a director of the firm which is carrying out an element of a practice. Related entity refers to a business organization performing practices. Each of the members should guarantee that each of the application has a proper contract regarding the insurance regulation that fulfills the minimum requirements. Parties insured: Principals The persons who were a principal or employee Related entity The persons is or ceases or becomes to be at the time period of the insurance Certification The insurance scheme must be certified according to the Insurance Act, 1973, or an Unauthorized Foreign Insurer (UFI) where: The broker or the agent who has made the agreement of the insurance, has proper license in Australia. The UFI should have minimum rating of A from the moody, AM Best and Standard and Poor rating agencies. The contract maintains the Australian Laws. All the legal systems of the domicile country are under Australian Laws. The insurance scheme should cover all types of services offered by the insured organization. The insurance company should provide a minimum cover up period of one year on the next expiry date for a period, where a common expiry date is required for all of the insurance. The indemnity level should be $1 million in case of having lack of an personal engagement fee higher than $100000. It should not be fewer than $500000 (Jackson, 2012). A cover up cost should exist for the expenses including the costs required for investigation, legal activities and the settlement of the Insurance claims. Conclusion In this report, the details regarding the liabilities of the auditors at the time of financial crisis have been critically analyzed. Different aspects of the CLERP 9 program with the details of its implementation or development have been discussed in this report. This regulation affected the whole area of the corporate governance majorly in Australia. Another major focus of this report is on the area of the liabilities of the insurance companies. The compiled regulations required to be carried out by the insurance companies have analyzed and understood in details. Various types of requirements and regulations associated with the professional indemnity insurance scheme have been discussed which may help to understand the way of using the insurance scheme efficiently. Reference Cabral, W. and Alexander, K., 2014. Auditor Liability and Legal Lacunae in relation to Risk Modelling Assumptions and Financial Institution Accounts in the context of the Financial Crisis.University of Zurich diss. Carey, P., Knechel, W.R. and Tanewski, G., 2013. Costs and Benefits of Mandatory Auditing of Forà ¢Ã¢â€š ¬Ã‚ profit Private and Notà ¢Ã¢â€š ¬Ã‚ forà ¢Ã¢â€š ¬Ã‚ profit Companies in Australia.Australian Accounting Review,23(1), pp.43-53. Carey, P.J., Monroe, G.S. and Shailer, G., 2014. Review of Postà ¢Ã¢â€š ¬Ã‚ CLERP 9 Australian Auditor Independence Research.Australian Accounting Review,24(4), pp.370-380. Couch, R. and Wu, W., 2016. The fair value option for liabilities and stock returns during the financial crisis.The Quarterly Review of Economics and Finance, 59, pp.83-98. Crockett, M. and Ali, M.J., 2015. Auditor independence and accounting conservatism: Evidence from Australia following the corporate law economic reform program.International Journal of Accounting Information Management,23(1), pp.80-104. Dorfman, M.S. and Cather, D.A., 2012.Introduction to risk management and insurance. Pearson Higher Ed. Gerrans, P., Faff, R. and Hartnett, N., 2015. Individual financial risk tolerance and the global financial crisis.Accounting Finance,55(1), pp.165-185. Holm, C., 2014. Civil and common law influences on the Danish auditor's responsibilities in relation to fraud.Accounting History Review, 24(1), pp.7-26. Houghton, K.A., Kend, M. and Jubb, C., 2013. The CLERP 9 audit reforms: Benefits and costs through the eyes of regulators, standard setters and audit service suppliers.Abacus,49(2), pp.139-160. Clout, V., Chapple, L. and Gandhi, N., 2013. The impact of auditor independence regulations on established and emerging firms.Accounting Research Journal,26(2), pp.88-108. Jackson, R.M., 2012.Jackson Powell on Professional Liability: First Supplement to the Seventh Edition: Up to Date to Novembre 2012. Sweet Maxwell. Kuan, K.T.C., 2014. Auditor independence: an analysis of the adequacy of selected provisions in CLERP 9. Samsonova-Taddei, A. and Humphrey, C., 2015. Risk and the construction of a European audit policy agenda: The case of auditor liability.Accounting, Organizations and Society,41, pp.55-72. Su, L., 2015. Do the auditors bear the consequences of corporate failures? The case of failed New Zealand finance companies. Symeonidou, N. and Bruneel, J., 2014. Liabilities of Foreignness and New Venture Internationalization.Academy of Management Proceedings, 2014(1), pp.16364-16364. Tarr, J.A. and Mack, J., 2013. Auditor obligations in an evolving legal landscape.Accounting, Auditing Accountability Journal,26(6), pp.1009-1026. Thomas, N.P., 2016.Professional Indemnity Claims: An Architect's Guide. Elsevier. Wright, A. and Wright, S., 2014. Modification of the Audit Report: Mitigating Investor Attribution by Disclosing the Auditor's Judgment Process.Behavioral Research in Accounting, 26(2), pp.35-50. Wu, W., Thibodeau, N. and Couch, R., 2016. An Option for Lemons? The Fair Value Option for Liabilities During the Financial Crisis.Journal of Accounting, Auditing Finance. Xu, Y., Carson, E., Fargher, N. and Jiang, L., 2013. Responses by Australian auditors to the global financial crisis.Accounting Finance,53(1), pp.301-338.