The Role of Internal Audit in UAE Companies Free Essays

When oil was discovered in 1950s in the UAE, an economic system which was to a great extent dependent on fishing and worsening pearling industry, the state has undergone drastic transmutation owing to the socio-economic alterations taking topographic point. The chief export of the state is of oil and gas. Today, UAE ranks 8th in the list of top 10 premier oil bring forthing states in the universe, bring forthing about 3. We will write a custom essay sample on The Role of Internal Audit in UAE Companies or any similar topic only for you Order Now 1 million barrels per twenty-four hours. It is besides the 3rd largest oil manufacturer in the universe. In the UAE, fluctuations in the oil monetary values have been diminished due to variegation and hence, because of the oil resources of the state, people by and large enjoy high criterions of life. With the development of oil industry in the UAE, a big figure of foreign workers are seeking the occupation chances that exist in the underdeveloped state. ( Dorish, 2010 ) The chief ground that I am interested in this country is because it is extremely related to my calling ends and aims. Researching this subject at this point might turn out to be a large measure frontward in order to accomplish my purpose as the oil industry in UAE is spread outing by springs and bounds. In any concern determination, hazard is an unconditioned consideration. So, attempts are being made in the field of hazard direction patterns in the oil and gas industry, with a focal point on fiscal and regulative hazards. And late, operational hazards have been on the precedence list of companies across the universe. They intend to pull off, proctor and extenuate all the hazards in a co-ordinated manner. Harmonizing to a recent Ernst A ; Young Report, entree to militias has been identified as the premier concern hazard for the oil and gas sector, others including uncertainness around energy policy, monetary value volatility, human capital shortages and many more. Purposes and Aims As mentioned above, the oil industry is extremely susceptible to operational hazards. Internal auditing can help the top direction of a company to place the possible hazards related to their operations and the steps that could be taken to command them efficaciously. The purpose of set abouting this research survey is to concentrate on the importance of internal audit in hazard direction in oil companies. As UAE is a portion of the GCC states, it has a joint aim with the other states of GCC to further technological and scientific advancement of the oil industry. Hence, there is a big potency for oil companies in the state. Hence, this survey would concentrate on the oil companies that are positioned in UAE. Besides, the strength of this industry would supply a ambitious undertaking for internal audit of the same. Based on the above purpose, the following aims can therefore be framed: To happen out the significance of internal audit in oil companies. To set up a correlativity between internal audit and hazard direction in oil companies. To happen out the oil companies on which this internal audit can be done. To happen out the betterment in the aim of GCC states by holding internal audit to better their technological and scientific advancement in the oil industry. Overview of reappraisal of the relevant literature Globally, many enterprises are being taken by regulative organic structures across the universe to stress the importance of scrutinizing in any concern. To help the directors, hearers and the IT users, the Information Systems Audit and Control Association ( ISACA ) and the IT Governance Institute ( ITGI ) , in 1996, created a set of best patterns framework aa‚ ¬ † the Control Objectives for Information and related Technology ( COBIT ) . It is a set of by and large accepted steps, indexs, procedures and best patterns which help them to optimise the benefits of utilizing information engineering, and to develop appropriate IT administration and control in the company. Besides, to patronize the National Commission on Fraudulent Financial Reporting, a voluntary private sector organisation, the Committee of Sponsoring Organizations ( COSO ) , was formed in 1985. Internal scrutinizing in any industry is carried out in assorted legal and cultural environments depending on the o rganisation. These organisations may differ in footings of intent, size, complexness, and construction.[ 1 ] Any sort of internal auditing is done by the persons within or inside the organisation. However, there might be differences in the manner internal auditing is carried out due to the organisational environment. Despite these differences, it is necessary that these patterns should conform to the IIAaa‚ ¬a„?s International Standards for the Professional Practice of Internal Auditing ( Standards ) .[ 2 ]This conformation is indispensable in order to run into the duties of internal hearers and the internal audit activity. The chief intent of these criterions is to sketch the basic rules stand foring the pattern of internal auditing and supply a model for executing and advancing a wide scope of value-added internal auditing. These criterions besides set up the footing for the rating of internal audit public presentation and at the same time are intended to cultivate improved organisational procedures and operations. ( The Insitute of Internal Auditors, 2010 ) A figure of writers have argued on the benefits of transporting out an audit of the house. Kuhn and Figgins ( 1994 ) explained that it helps to find the root cause of jobs bing in concern operations. Efficient use of resources of the company which consequences in cost decrease has besides been argued as a benefit by Drew ( 1993 ) . Preventing concern hazards and developing programs and schemes has been besides stated as a benefit by Donaldson ( 1993 ) . Campbell, Goold and Alexander ( 1995 ) and Simpson ( 1995 ) besides discuss the importance of scrutinizing in strategic decision-making which requires company resource information capablenesss so that assorted alternate actions can be identified and supported. ( Wendy Fenwick, 2009 ) Merely to hold a hint of the importance of internal auditing in oil based companies, there are a figure of formalistic preparation plans designed for a hebdomad to cary it out. These audits have been organized by mistieurope in the yesteryear. They can be of critical aid in understanding the hazards asscoaited with the concern, understanding the procurance map, understanding the auditing undertakings etc. Hence, there surely is a large potency for carry oning internal audit for hazard direction of the oil companies in UAE. Methodology Basically, this research would be done by both secondary and primary research methods. As oil is a extremely ruling sector in UAE ( the state is the 8th largest maker of oil in the universe )[ 3 ], a batch has been published on the Internet. This would assist in understanding the hazards associated with the same and farther aid in carry oning the internal audit. A few of the forums which have information on the same are Khaleej, The Gulf and Factoidz. The nest research to be done in this class would be primary research. Taking interviews is a time-taking every bit good as expensive matter. Hence, questionnaire distribution in a simple random sample amongst oil companies ( including direction and employees ) , can be done. Further, based on the formed hypothesis, z-test can be used to happen out the proof of the research. Proposed Timetable A Gantt chart is being shown below to show the possible timeline of the undertaking. The chart clearly depicts assorted stages of the undertaking life rhythm and the time/ month during which a peculiar stage of the undertaking will be implemented. It can be viewed in the MS-Project file attached with the physician. How to cite The Role of Internal Audit in UAE Companies, Essay examples

Reseach on Determinents of Junk Food Habbit of Youngsters free essay sample

We all the group members forward our acknowledgement to Dr. Bhavesh Vanparia (Professor-Tolani Institute of Management Studies) for imparting us the knowledge of research and how to make one. We are whole heartedly thankful to him to guide us throughout the research and make it a valuable document. PREFACE Now a day the importance of research has increased in the day to day changing scenarios and business environment. Businesses demand for management person who are able to manage and develop in such continues changing environment in successful way. PGDM is such a course in which student’s gets practical exposure of such changing dynamics of business environment by doing various projects and such researches. We selected this particular research which expanded our boundaries of thinking about implication of the theoretical knowledge in the practical field. Abstract In this study we have found out the youngster’s preference towards fast food. We have conducted research on youngsters in between 15-24 years. We will write a custom essay sample on Reseach on Determinents of Junk Food Habbit of Youngsters or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page We have found that there is no significant difference between gender and their preference towards fast food eating. And maximum of them agree that education on healthy/organic food should be given. Maximum of them also disagree that fast food is healthy food to eat. Maximum of youngsters eat fast food with their friends, (54 out of 91). And most of male and female prefer home made food. Introduction. We observe that day by day consumption of fast-food among youngster is increasing and thus health related issues. To analyze this and related factors and issues we conducted a research on youngsters and their fast food eating habit. Today we can also see that fast food services/stores are growing in huge numbers. And maximum consumption of fast food is seen among teenagers or young people who for one and another reason frequently have fast food, it may be because of leisure, friends, living far from home, status, and many more. From the above mentioned determinants to find and brief out some important determinants we have conducted research and that too particularly of youngsters between 15-24 years. We defined youngsters as per the World Bank definition of youth that is the age in between 15-24 years. Fast food  is the term given to food that can be prepared and served very quickly. While any meal with low preparation time can be considered to be fast food, typically theterm refers to food sold in a  restaurant  or store with preheated or precooked ingredients, and served to the customer in a packaged form for  take-out/take-away. (Wikipedia). Healthy food is defined by food which is beneficial to health and it also includes natural foods,  organic foods,  whole foods, and sometimes  dietary supplements. (Wikipedia, Wikipedia). This study will be help to brief out some specific determinants regarding fast food eating habits of youngster and may be how to divert youngster’s preference to healthy dietary habits. Research Question: * What are the determinants of youngster’s preference towards fast food eating? * What is the thinking of youth towards traditional food and fast food? * How many youngsters prefer vegetarian food? * Who prefer to have more fast food Male or Female? * What is the age from when youngsters eat fast food? Research Objective: * To know the determinants of youngster’s preference towards fast food eating. * To know the thinking of youth towards traditional food and fast food. * To classify the youth by food habit on the basis of Vegetarian and Non vegetarian. To know the frequency of eating fast food of male and female. * To find the age from when youngster’s start eating fast-food. Name of the Author(Year)| Title of The Paper. | Country| Sample Size| Analysis tools| Finding and Conclusion| Subhash Chandra Verma and Girja Shankar Yadav(2010)| Food habits among the educated youth of Tharu and Buksa tribes| India| 116| Descriptive Research Design. | So me youth are ignoring their own traditional food trends, but some youth are still respecting their culture and Traditional food trends. Effects of other cultures and education were the main reasons of changing food habits. | Hyun-sun Seo,  Soo-Kyung Lee,andSoyoung Nam(2011)| Factors influencing fast food consumption behaviors of middle-school students in Seoul: an application of theory of planned behaviors| Koria| 354| Regression Analysis| In relation to fast food use, attitude would be personal positive or negative feelings toward fast food use, while subjective norm would be how much a person desires to respect and follow the opinions of individuals who are important to him or her. Klazine van der Horst,AOenema,  I Ferreira,  W Wendel,KGiskes,  F van Lenthe  and J Brug  (2006)| A systematic review of environmental correlates of obesity-related dietary behaviors in youth| Netherland| Focus Group(54)| Multivariate Analysis| The research of determinants of dietary intake in children and adolescents has predominantly focused on individual level determinants of these behaviors, such as attitudes, taste prefe rences, social influences and perceived behavioral control.

The Question As To Whether Or Not Creationism Should Be Taught Essays

The question as to whether or not creationism should be taught in public schools is a very emotional and complex question. It can be looked at from several different angles, its validity being one of them. Despite the lack of evidence to support the fundamentalist idea of creationism, that in itself is not enough to warrant its exclusion from the curriculum of public schools in the United States. The question is far more involved and complex. One way to address the question is whether or not creationism, in itself, is a valid idea to be taught in public schools. The answer to this can be yes. Not only should a student in American public schools learn and acquire knowledge in empirical sciences, and other tangible facts both in history and other courses, but he should also learn how to think and make decisions for himself. Unfortunately, as it turns out, creationism is in direct conflict with the biological theory of evolution. Many fundamentalist propose that creationism should replace, or at least be offered as an alternative to Darwin's theory of evolution. This is not the right approach. Creationism, as exemplified in the book of Genesis, should not be taught in a science course. Science runs on a certain set of rules and principles being: (1) it is guided by natural law, (2) it has to be explanatory by reference to natural law, (3) it?s conclusions lack finality and therefore may be altered or changed, (4) it is also testable against the empirical world, and finally (5) it is falsefiable. These characteristics define the laws, boundaries, and guidelines that science follows. In a science course, all knowledge conveyed is shown, or has been shown in the past, to exemplify a strict adherence to these qualities. Creationism, unfortunately in the eyes of Christian fundamentalist, does not exemplify any adherence whatsoever to these rules and guidelines of science. Therefore, it should not be included in the science curriculum in public schools, even as an alternative to evolution. Another idea is that which is held by those who subscribe to the idea of scientific creationism. Scientific creationism, as it relates to this topic, states that God was the creator, and that evolution is simply a means, developed by Him, of conservation. Due to this definition of how scientific creationism relates to evolution, it may be easier to accept by scientific criteria, despite the fact that the origins are scientifically debatable. The problem in scientific creationism, and what I see as a reason for its exclusion from the science classroom in public schools, is the fact that it looks as if, from the outside, the whole theory that it rest on is simply a contortion of the traditional version of creation described in Genesis, custom-made to fit in with Darwin's theory of evolution. R. M. Hare would probably say that scientific creationism is simply a modification of the story of creation in Genesis, to fit into the ?blik? of the religious fundamentalist. A blik, as Hare describes it, is a pre-set world view held by all people, in which they draw from when forming certain opinions on any particular subject. In the case of religious fundamentalist, who?s faith in the validity of the Book of Genesis is an essential part of their blik, it becomes necessary for them to contort their literal view of the Book of Genesis into a form that is scientifically acceptable. For this reason, creation science still does not have a place in the science classroom of public schools. Another problem with scientific creationism is that it would exclude the idea of a random beginning. No theory could ever be tested to find origins because it would conflict with scientific creationism. Scientific creationism would be, in essence, a lesson on science halting efforts to find creation, if it is possible at all. It may, however, be acceptable as a theory and not a solid law. Now that it is clear that creationism, as well as scientific creationism, does not fit into the guidelines on which science operates, therefore making them unsuitable for teaching in science classrooms in public schools, in what part of the public school curriculum in the United States should they be taught? The story provided in the Book of Genesis could conceivably fit into the literary genre of mythology. It could not be considered as nonfiction, due to the many contradictions it makes within itself, as well as in the world of empirical knowledge. These contradictions are numerous and would create a paper within themselves, therefore it should be addressed elsewhere. The controversy here, despite the factual and logical inadequacies

Women in Australian history 1901 - 1945 essays

Women in Australian history 1901 - 1945 essays The period from 1901 to 1945 saw Australian women endure many hardships. Due to events that occurred during the period such as the economic boom, the depression, world war one and world war two their were many advancements making the lives of women easier, some classes much more then others. These include the technology that became available, changes in fashions, and greater equality in the workforce and on the political scene. Through dividing the period up and looking at each part, I will establish that life was slightly better for Australian women at the end of the period as apposed to the beginning. At the time of federation women did not fare well at all. Women were forced to work long hours for little pay. In 1901 women made up 20.1% of the workforce, however, to them the basic wage did not apply. They received only around half of that given to men for the same task. For most, marriage was an economic necessity, however, when married, wives were dominated by their husbands and suffered loss of their economic independence. Women at home worked a 6-day week with no access to labour saving devices. Wives of rural workers lived particularly hard lives being frequently left on their own to look after the children. There were very few women who played major roles in society. Women dressed very formally and the beginning of the century wearing hats, long dresses and gloves when going out, along with corsets and petticoats. This made day to day life very difficult for many women. After the first ten years following federation, some progress towards equality was made. Women started to work in professions, despite the vast majority continuing to be employed in factories, as domestic servants or remaining at home. Women still dominated the lower paid jobs despite protective legislation and few achieved management positions. Australia was the second country in the world to give women the right to vote and stand in Feder...

A basic outline of economic considerations that come to play in Essay

A basic outline of economic considerations that come to play in construction management - Essay Example According to the research findings economic theory, despite its crucial impact upon the ultimate success of construction projects and corporations, is often insufficiently understood by construction management professionals. Warren argues that this is due, at least in part, to an insufficient linkage between economic theory and the contexts of construction applications that such professionals hold as their primary disciplinary concern. After all, most construction professionals enter the engineering and building field because they want to design and construct physical structures, not in order to apply economic theory. However, as Hillebrandt argues, basic economic theories must be weighed when approaching construction management because they impact everything from cost of contracts, procurement of resources, and pricing of services offered. In this section, a very basic outline of economic principles that apply in construction management will be offered. The presentation here is kept deliberately simple because, as De Valence argues, construction economics has yet to define a consensus approach to economic theory that accommodates the conditional realities of construction management. Specifically, De Valence argues that construction economies, as a â€Å"still emergent† field, has not yet developed a set of disciplinary applications of economic theories, but merely borrows from a number of other fields, such as finance or economics itself. This is clear in discussions offered by Warren, (2001), Ruddock (2000), Hillebrandt (20002, and others, who often argue from theoretical principles that are applied generally to specific construction case studies. While De Valence (2001) argues that construction management has developed as a discipline for managing the processes and stages of production, therefore, construction economics has not yet found a suitable approach for managing the various economic implications that come to play at each of the various stages. In light of this realty, the discussion of economic theory here will include only the most basic concerns as they apply to the more general applications of construction management. There is no economic factor that impacts upon construction management to a greater degree than the relationship between price and demand for construction services. Ruddock (2009) argues that demand constitutes a major concern for construction economists because it is at the heart of the problem of forecasting costs as well as setting prices that ultimately drive competitiveness. Table 1 provides a simple view of demand concerns as they apply to such pricing and cost impacts. Table 1. Relationship between Demand and Price/Cost Source: Riley, 2006. This demand-price curve is perhaps the most basic general

Financial analysis of Zest Spa Essay Example | Topics and Well Written Essays - 2500 words

Financial analysis of Zest Spa - Essay Example This research will begin with the statement that Zest Spa is planning to provide express services at one or more of three chosen international airports in India. The process comprises a significant amount of fixed and variable investment on the part of the company and therefore it was considered necessary to evaluate the project from financial as well as non-financial aspect. In a business plan or a new venture, financial analysis and projection are considered as an essential aspect thereof. The success and controlling of the business significantly depend on financial projections of a firm as quantitative control is equally important for a firm besides qualitative control. The financial analysis primarily consists of important aspects such as budgeting, investment appraisal, profit and growth projection and ratio analysis. The other measures that are also considered as useful are a determination of weighted average cost of capital and comparing the same with return on investment and internal returns and sensitivity analysis. Profit and loss analysis is essential in a business so that for an accounting period (commonly a year), the profit or loss incurred by a company is determined. The Profit and loss statement is one of the essential financial statements that present profitability of a firm. Determination of profit or loss is necessary so that an estimate of costs and earnings can be determined. The statement is also useful for the calculation of various margins.

Part 2 report Speech or Presentation Example | Topics and Well Written Essays - 500 words

Part 2 report - Speech or Presentation Example The linear function of the equation is can be given by. The second equation describes the exponential growth of the payroll. It can be given by . Both the linear and exponential equations describe the relationship between the two variables in question. If the general form of the equation for the variables is given by, then the equation for the exponential growth will be given by. When the value of x is 6 in 2004, the linear function. The exponential equation 40.546277. In the form of, the value of N becomes -335544.32 in both cases. The growth factor in this scenario becomes 1.0475 and the growth rate is therefore 4.75%. The graph below shows both the linear and exponential models for the average NHL team payroll. To help in getting a more insightful understanding of both the linear and exponential trend are the trend lines. For the linear functionthe value of while for the exponential function the value of The next step in the analysis will require the application of both the linear and exponential models to predict the average NHL team payroll between the years 2012 and 2020. This data is shown in the table below. Comparing the values obtained using the two models; the NHL team should use the exponential model for economic planning as it offers lower values as compared to the linear model. From the analysis above, the both the linear and exponential models can be used to estimate the trend and the rate of growth of a certain dynamic product. Using these mathematical concepts, it becomes easier to plan for the future as it has been shown by the prediction of the expected payroll between 2012 and