Coursework in financial reporting & corporate governance Essay

Coursework in financial reporting & corporate governance - Essay Example The emergence of the concept of corporate governance can be attributed to certain events in the recent past which have shaken the business world. Accounting frauds such as Arthur Anderson, Enron, Satyam and World Com etc in the last decade resulted in loss of shareholder in the way the companies are governed. These disclosures along with the dot com bust which itself had its own share of corporate mis-governance made people loose confidence in the stock markets and the way that the companies are governed. The resulting market fall along with the tremendous impact on the society (loss of jobs, and damage to customers, and financiers) made it necessary to have a systemic framework which shall define the working of a public listed company. More recently, the financial slowdown of 2008-09 has once again raised concern over the governance of such large organizations. The greed to make profits while ignoring risks involved and the eventual loss to the society has made it necessary to have a strong board of directors which has the complete knowledge of the companys operations, policies and business. In a nutshell, the following reasons can be listed for the growth in importance of Corporate Governance: There have been many steps in setting out the standard for safeguarding the interests of the society and stop the occurrence of happenings like the Enron, Maxwell Communications and so on. Amongst the first one was the Cadbury report titled â€Å"Financial Aspects of Corporate Governance† published in the year 2002 (The Committee on the Financial Aspects of Corporate Governance, 1992). Subsequent standards were set up in the form of OECD Principles of Corporate Governance in the year 1999 and the Guidance on Good Practices in Corporate Governance Disclosure. British Airways (BA) and British Petroleum (BP) are the two large UK plcs that we will be comparing for the purpose of this paper. British

Child Abuse Paper Essay Example | Topics and Well Written Essays - 1250 words

Child Abuse Paper - Essay Example (Roberts) It is both shocking and disheartening that the abuse of children, despite the legal sanctions in place in every part of the world, is still so rampant. This paper will attempt to discuss the history of child abuse, the different forms of the crime and the punishment set for abusers. Historical Background Throughout history, children have been abused and neglected. This is said to be a result of the low value placed on children. (Weisberg) The maltreatment of children has its roots in ancient times. Two examples from the Bible that stand out are when a Pharaoh orders babies to be killed during Moses’ time and when King Herod instructs the killing of infants during Christ’s birth. It is said that children were considered â€Å"property† in ancient times and were easily sold, mutilated, killed or used as sacrifice for the gods. (Volpe) This disregard for children continued until the Middle Ages. During this period, unwanted children served as apprentices w hile those with deformities were declared omens of evil and were killed. (Child Abuse) Parents and even teachers in the Medieval Period believed that beating the child was the norm for instilling discipline. (Snell) Because society did not see it wrong parents teach their children by way of spanking or hitting the latter, most of the reported cases of child abuse were between masters and servants, who were children. (Child Abuse) The case of Mary Allen McCormack in 1874 was the first time a victim of child abuse was brought out in the open. McCormack had been given up for adoption and was physically abused by her adoptive mother until her neighbors brought her case to the Department of Public Charities and Corrections. (Markel) Ironically, the case was initiated by the American Society for the Prevention of Cruelty to Animals as there were no laws to protect children from physical abuse inflicted by parents. Fortunately, the case triggered movements for the formulation and enforceme nt of laws to rescue and protect abused children. (Watkins) Forms of Child Abuse According to the World Health Organization, child abuse and neglect is defined as â€Å"all forms of physical and emotional ill-treatment, sexual abuse, neglect, and exploitation that results in actual or potential harm to the child’s health, development or dignity.† (Child Maltreatment) Physical abuse, sexual abuse, neglect and negligent treatment, emotional abuse and exploitation are the five types of child abuse. Each of these may be described in various ways in different nations. In the United States for example, although the Federal Child Abuse Prevention and Treatment Act (CAPTA) gives the minimum criterion for physical child abuse, child neglect, and sexual abuse, it also only defines sexual abuse and special cases concerning withholding or failing to provide medically indicated treatment. (Pecora, et. al.) Physical abuse is generally inflicting bodily harm to a child when in anger. The trauma should be non-accidental. This is also referred to battered child syndrome. People who beat children are often those abused themselves when they were young. Nevertheless, alcoholism, domestic violence, drug abuse, lack of education, poverty and being a single parent can increase the risk of abuse. (Child Abuse -