The Poignant Prophet By Aldous Huxley - 1680 Words

The Poignant Prophet One could say that Aldous Huxley was born into greatness, or one could also say that his greatness was forged from his experiences. Neither would be wrong. Huxley was a third son born in 1894, into a family that was distinguished on both sides. He was able to attend paid public school and later attended Eton. Huxley suffered three great traumas that affected his life deeply. The first would be the death of his beloved mother in 1908; he would later express this experience in a near autobiographic novel Eyeless in Gaza in 1936. â€Å"In a final letter to her son written on her deathbed, she told him, ‘Don t be too critical of people and love much’. Huxley later added in 1915, ‘†¦ I have come to see more and more how wise that advice was. It s her warning against a rather conceited and selfish fault of my own and it s a whole philosophy of life’† (Garret). In 1911, Huxley contracted keratitis punctata, causing blindness for nearly 18 months resulting in poor vision for the rest of his life. In that time he learned to read braille and gave up his plan to become a doctor due to his poor vision and he instead planned to become a writer. The third and final traumatic experience would be the suicide of his older brother Trevenen who had comforted him during his temporary blindness. The factors that may have attributed to the suicide may have been his failure to achieve honors at Oxford University and a love affair with a woman of a differing social class. In

More Than Half of the Population of Pakistan Is Food...

HYPOTHESIS 1: More than half of the population of Pakistan is food insecured despite agricultural growth. The food security of a country is the availability of food in that country, and the people’s access to it. It is often said, â€Å"Food insecurity anywhere, threatens peace everywhere†. The term food security reflects the desire to eliminate hunger and malnutrition. The World Food Summit in 1996 defined food security as, â€Å"when all people at all times have physical and economic access to sufficient, safe and nutritious food to meet the dietary needs and food preferences for an active and healthy life†. This definition implies that food security has three pillars i.e., physical availability of food, socio-economic access to food and†¦show more content†¦A study conducted by the Pakistan Institute of Development Economics (PIDE) puts the figure of those living below poverty line in rural areas at over 40 million. According to PIDE, in the surveys conducted in 2001, 2004 and in 2010, more than 50 per cent of rural households in Punjab and Sindh qualified as poverty-stricken for at least one period. Poverty in rural Punjab and Sindh declined sharply from 29.5 per cent in 2001 to 21.8 per cent in 2004 but then jumped to 28 per cent in 2010. The SDPI study reveals that the rural Balochistan has the highest incidence of poverty with three-quarters of its rural population (74 per cent) living below the poverty line. Urban poverty in Balochistan is 29 per cent. The second highest rural-urban disparity is found in Sindh where 46 per cent rural households are poor compared to only 20 per cent urban households. Khyber Pakhtoonkhwa also shows a similar pattern; 43 per cent rural households are poor compared to 18 per cent urban households. The rural-urban divide in Punjab is the lowest amongst all the provinces as 28 per cent rural households are poor in contrast to only 10 per cent urban households. Although agriculture is at the heart of the rural economy, the majority of Pakistan’s rural poor are neither tenant farmers nor farm owners. Farmers (including both owners and tenants) comprised only 43 percent of households .Non-farm

Importance Leadership Generating Success †Myassignmenthelp.Com

Question: Discuss About The Importance Of Leadership For Generating Success? Answer: Introduction The report focuses on generating an overview of the online commerce company, Alibaba. It reflects on the industry to which Alibaba belongs to while conducting the analysis of leadership style both of the founder of the firm and the industry as a whole. Further, the report also focuses on conducting a gap analysis of the leadership style of Alibabas founder based on leadership theories. The report also focuses on the development of a leadership development plan through the use of Kurt Lewins Change Model while also reflecting on the barriers to the change process. Different types of theoretical models would be incorporated in the report for effectively analysing the leadership style of the online commerce industry and also that of the founder of the organisation. The report would focus on conducting an effective empirical analysis through the study of online articles, books and journals for gaining needed inferences to the topic. Background of Alibaba Alibaba Group based in China focuses on transforming the marketing, selling and operational procedures of business institutions. It works in providing the right quality of technological infrastructure and marketing network for helping companies effectively engage with the final users or customers. Alibabas business constituted by elements like core commercial activities, digital media and cloud computing functions and also entertainment and innovation helps the business organisations for effectively teaming with logistics and other service provider firms for rendering services to other brands and merchant firms(Alibaba Group , 2017). (Alibaba Group , 2017) Industry Dynamics The e-commerce industry of China is observed to be the largest in the world. The first quarter of 2017 reflects that sales of products and services through use of the e-commerce interface have grown to around 1.40 trillion Yuan which was around 32.1 percent higher than 2016 where sales of physical stores gained an increase by around 7.2 percent. Further, in terms of annual growth rate on a compounded basis, growth rate of online retailing grew from around 17 percent during 2017 to around 25 percent of total sales in retail during 2020. Chinese consumers are observed to be avid users of mobile and social commerce and other digital platforms for purchasing and making payments(PwC, 2017). Leadership Models and Theories Situation Theory Situational theory of leadership identifies leadership behaviour associated to the emergence of different types of situations. The situational theory of leadership further determines what the leaders are required to perform based along different situations or circumstances(Fairholm Fairholm, 2009). Contingency Theory The Contingency Theory of leadership is identified as the leader-match theory wherein it endeavours to match leaders to different contingencies or situations. The Contingency Theory further endeavours to understand the manner in which the expertise of the leader contributes in handling the contingencies(Northouse, 2012). Behavioural Theory The behavioural theory of leadership reflects that the activities of a leader are highly influenced by the behavioural qualities or approaches of a leader. The success of the leadership approach of an individual is highly dependent on the behaviour of the leader rather than on the traits(Chandra, 2014). Participative Theory In Participative form of leadership, the leader encourages the growth of participation of organisational members in decision making activities. Members are empowered to generate their own ideas and rationale and thereby enhance the growth of teamwork in the organisation and accountability and organisational citizenship among the members(Nevarez, Wood, Penrose, 2013). McGregor Theory of Leadership McGregor Theory of Leadership is also identified as Theory X and Y Leadership. The Theory X and Y of leadership was first coined by Douglas McGregor, a social psychologist. The Theory X Style of Leadership is observed to reflect authoritative and also traditional style of leadership where it is customary on the part of the leader to coerce and threaten the organisational members for effectively fulfilling business and institutional objectives (Rozkwitalska, 2012). Herein, the human resources are identified as a cost to the firm and thereby needs to be optimally utilised for generating needed productivity. The authoritarian style of leadership identified in Theory X also reflects subordinates to be prone in avoiding work and responsibility. It is therefore required of the leader to strictly monitor and direct the team members for generating needful performance (Ferdman Sagiv, 2012). On the contrary, the leaders identified as Theory Y leaders are observed to be dignified and also enlightened in nature. Herein, the business leaders and organisational managers assume that organisational members require be respecting, loving and honouring and also recognising for their performances such that the same contributes in generation of greater productivity. The internal people in a firm are viewed as assets rather than cost (Podsiadlowski, Grschke, Kogler, 2013). The institutional manager or business leader thus focuses on training and honing the skills of the staffs and also in motivating and encouraging them through introduction of financial and non-financial rewards (Olsen Martins, 2012). Further, the Theory Y Leaders are such that focus on empowering individuals to take part in decision making activities. Theory Y leaders also focus on encouraging workforce participation in the firms(Landy Conte, 2010). Leadership Model Suiting the Industry The leadership model concerning Innovative Leadership or leadership styles associated to innovation leadership are observed to effectively suit the e-commerce industry both in China and also along the global scale. The Innovation Leadership Styles (ILS) are further observed to be divided along four segments like charismatic, instrumental, strategic and also interactive styles that contribute in identifying of innovative projects, ecological inputs and also developing on knowledge potential and needed competencies (Bhatia Kaur, 2014). Similarly, the parameter of innovation involved in the leadership styles of e-commerce firms also contribute in the development of potential strategies for countering of potential challenges(Benlamri Sparer, 2016). Evaluation of the Leadership Style of Jack Ma Background of Jack Ma Jack Ma as the founder of the e-commerce giant, Alibaba based in China is evaluated to be richest individual in the country. Ma is evaluated to value around $25 million during 2014 and tends to hold around 7.8 percent share in Alibaba. Jack Mas story reflects on his rising from rags to riches such that rising from a very poor upbringing based in Communist China his youth times reflected large numbers of failures from academic to jobs where he finally ventured and gained success in terms of creating the online commerce company, Alibaba(Stone D'Onfro, 2014). Evaluation of Jack Ma Skills Jack Ma works based on instincts. Focuses on working based on vision and mission objectives. Focusing on inventing and sighting new opportunities. Empowering organisational members to participate in generation of new ideas. Focuses on expanding business boundaries. An avid Teamworker and also rooted to tradition. Focuses and works towards achieving greater results. Analytical skills associated with larger amount of data(Ward, 2017). Traits Ma stresses on existence of right type of attitude. Focuses on uniting people and working in an integrated fashion. Depends on foresightedness Interested in development of skills Tenacious and hard working Learning from failures Loves to enjoy Life as it is(Kux, 2017). Behaviour Entrepreneurial mindset Always hunting for new opportunities Innovating attitude Friendly and collaborative behaviour Charming and fun loving in nature(Zakkour, 2014). Personality Jack Ma reflects a strong personality that helps him in identifying opportunities in the face of continual failures. Further, his charismatic personality and strong will force helped him in making a global e-commerce organisation(Infoginx, 2017). Ethics Jack Ma focuses on conducting the online commerce business in a highly ethical fashion. Jack mentioned that he would never tolerate any ethical misconduct conducted by his organisational members and other partners while conducting business(George, 2015). Motivations Inspiration from failures and life as a whole Optimistic in nature Focusing on new opportunities that promote growth(George, 2015). Leadership Styles Charismatic and visionary approach in e-commerce Innovation Leadership focusing on new opportunities to innovate Focusing on empowering employees and developing teams Participative Leadership in working with others in group Visionary leadership owing to working based on new vision and mission objectives(Kux, 2017). Power Types Jack Ma reflects that development of small business enterprises would help in creating greater employment and business opportunities on a global scale. Thus, promotion of small business segments is identified by Jack Ma as the potential source of power(Balakrishnan Summerville, 2017). Method of Communication Jack Ma focuses on fostering an environment of open communication such that he encourages the development of a transparent work atmosphere in Alibaba. Ma likes to communicate with his staffs both formally in meetings and discussions while also favours communicating with them in informal settings(Ward, 2017). Gap Analysis Leadership Theories and Styles Jack Mas Leadership Visionary Leadership Participative Style of Leadership LMX Theory of Leadership Jack Ma is observed to be a visionary leader such that he focuses on the development of new vision and mission objectives and thereby guides his organisational members to achieve big targets. Jack Ma focuses on empowering his team members to think in an independent fashion. This enhances accountability and performance for the team members (Dartey-Baah, 2013). Jack Ma focuses on developing effective exchanges with members having needed skills and expertise at the cost of other staffs that do not reflect such expertises (Salas et al., 2012).. Development of Leadership Improvement Plan Reasons to Change Jack Ma as the Chairman and Daniel Zhang as the CEO of Alibaba group viewed that the era of technological disruption with also emergence of new technologies is requiring them to incorporate newer changes in the organisation. In a recent move, Jack Ma focuses on collaborating with brick-and-mortar retailers and helping them gain advantage of online retailing platforms, cloud computing services and online advertising segments(Cendrowski, 2016). Lewins Model for Change Unfreeze Jack Ma viewed that the emergence of Artificial Intelligence and its future development would create a challenge for the business organisations. Increased level of automation would result in increased job losses thereby increasing unemployment(Solon, 2017). Freeze The business institutions are thus required to continually focus on training its internal members on cloud computing technology and also artificial intelligence for developing their expertise in countering the situation(Solon, 2017). Refreeze Training of work groups on such soft skills associated to cloud computing and also Artificial Intelligence (AI) would enhance their expertise to operate in the digital platform and thereby help them to adapt to the new technological setting(Solon, 2017). Anticipated Barriers to the Change Process Fear of losing jobs for increased automation contributed by incorporating AI Failure in effectively understanding technological systems like Cloud Computing and Artificial Intelligence Employees needing to shift their focus to complex jobs owing to increased automation tend to create cultural barrier to the change process(Adam-Gedge, 2017). Conclusions The case of Jack Ma, founder of the Chinese online commerce company, Alibaba potentially reflects the manner in which his leadership skills ideally contributed in the formation of a billion dollar enterprise. It reflected the power of acting with a visionary and charismatic approach in motivating team members to achieve farfetched objective. Difference between Manager and Leader The essential differences between manager and leader are enumerated as follows. The managers focus on executing and implementing vision and mission objectives. The leaders on the contrary focus on the formulation of vision and mission objectives and thereby focus on motivating the team members for effective fulfilment of the stated objectives. Further, the manager is identified in setting targets and allocating tasks to organisational members for effective accomplishment of the same within a stipulated period. The leader on the contrary act as a role figure to the team members and thereby inspires them to accomplish stated tasks. Finally, the manager also focuses on generating new rules and regulations and focuses on monitoring and governing the performances of the staffs. The leader on the contrary focuses on the identification of newer opportunities and also takes on new challenges and risks for moving over to new markets and territories (Jehanzeb Bashir, 2013) References Adam-Gedge, S. (2017, September 5). Leaders must overcome a cultural resistance to artificaial intelligence. Retrieved September 14, 2017, from https://www.cio-asia.com/blogs/blogs/leaders-must-overcome-a-cultural-resistance-to-artificial-intelligence/?page=1 Alibaba Group . (2017). Company Overview . Retrieved September 12, 2017, from https://www.alibabagroup.com/en/about/overview Balakrishnan, A., Summerville, A. (2017, June 21). Small businesses to steal the power from largest companies: Jack Ma. Retrieved September 14, 2017, from https://www.cnbc.com/2017/06/21/small-businesses-to-steal-the-power-from-largest-companies-jack-ma.html Benlamri, R., Sparer, M. (2016). accounting, Innovation and Entrepreneurship as Driving Forces of the Global Economy: Proceedings of the 2016 International Conference on Leadership, Innovation and Entrepreneurship (ICLIE). United Kingdom : Springer. Bhatia, A., Kaur, L. (2014). Global Training Development trends Practices: An Overview. International Journal of Emerging Research in Management Technology , 3 (8), 75-78. Cendrowski, S. (2016, October 13). Alibabas Jack Ma Just Predicted the Next 30 Years of Technological Change. Retrieved September 14, 2017, from https://fortune.com/2016/10/13/alibaba-jack-ma-company-future-retail-transform/ Chandra, R. (2014). Leadership 101. United States : Book Rix. Dartey-Baah, K. (2013). The Cultural Approach to the Management of the International Human Resource: An Analysis of Hofstedes Cultural Dimensions. International Journal of Business Administration , 4 (2), 39-45. Edewor, P. A., Aluko, Y. A. (2007). Diversity Management, Challenges and Opportunities in Multicultural Organizations . International Journal of the Diversity , 6 (6), 189-195. Fairholm, M. R., Fairholm, G. W. (2009). Understanding Leadership Perspectives: Theoretical and Practical Approaches. UnitedKingdom: Springer Science and Business Media . Ferdman, B. M., Sagiv, L. (2012). Diversity in Organizations and Cross-Cultural Work Psychology: What If They Were More Connected? Industrial and Organizational Psychology: Perspectives on Science and Practice , 5 (3), 1-51. George, B. (2015). Discover Your True North . United Kingdom : Wiley. Infoginx. (2017, July 17). The leadership of Modern Age. Retrieved September 14, 2017, from https://infoginx.com/personality-spotlight-jack-ma-owner-alibaba-group/ Jehanzeb, K., Bashir, N. A. (2013). Training and Development Program and its Benefits to Employee and Organization: A Conceptual Study. European Journal of Business and Management , 5 (2), 243-252. Khanaki, H., Hassanzadeh, N. (2010). Conflict Management Styles: The Iranian General Preference Compared to the Swedish. International Journal of Innovation , 1 (4), 419-426. Kux, S. (2017). 8 Keys to Success from Jack Ma, Self-Made Billionaire and CEO of Alibaba. Retrieved September 14, 2017, from https://www.lifehack.org/articles/work/8-keys-success-from-jack-self-made-billionaire-and-ceo-alibaba.html Landy, F. J., Conte, J. M. (2010). Work in the 21st Century: An Introduction to Industrial and Organizational Psychology. United Kingdom: John Wiley and Sons. Nevarez, C., Wood, J. L., Penrose, R. (2013). Leadership Theory and the Community College: Applying Theory to Practice. United States : Stylus Publishing, LLC. Nilson, L. B. (2010). Teaching at Its Best: A Research-Based Resource for College Instructors. United Kingdom : John Wiley and Sons. Northouse, P. G. (2012). Leadership: Theory and Practice. United Kingdom : SAGE. Olsen, J. E., Martins, L. L. (2012). Understanding organizational diversity management programs: A theoretical framework and directions for future research. Journal of Organizational Behavior , 33 (8), 1168-1187. Ongori, H., Nzonzo, J. C. (2011). TRAINING AND DEVELOPMENT PRACTICES IN AN ORGANISATION: AN INTERVENTION TO ENHANCE ORGANISATIONAL EFFECTIVENESS. International Journal of Engineering and Management Sciences , 2 (4), 187-198. Podsiadlowski, A., Grschke, D., Kogler, M. (2013). Managing a culturally diverse workforce: Diversity perspectives in organizations . International Journal of Intercultural Relations , 37, 159-175. PwC. (2017). e-commerce in Cjina-the future is already there. Hong Kong: PwC. Rozkwitalska, M. (2012). Accepted and strong organisational culture in multinational corporations . Journal of Intercultural Management , 4 (3), 5-14. Salas, E., Tannenbaum, S. I., Kraiger, K. (2012). The Science of Training and Development in Organizations: What Matters in Practice. Psychological Science in the Public Interest , 13 (2), 74-101. Shen, J., Chanda, A., DNetto, B. (2009). Managing diversity through human resource management: an international perspective and conceptual framework. The International Journal of Human Resource Management , 20 (2), 235-251. Shi, X., Wang, J. (2011). Interpreting Hofstede Model and Globe Model: Which Way to Go for Cross-Cultural Research . nternational Journal of Business and Management , 6 (5), 93-99. Slavi?, A., Berber, N., Lekovi?, B. (2014). PERFORMAnCE MAnAGEMENT IN INTERNATIOnAL HUMAN RESOURCE MANAGEMENT: EVIDENCE FROM THE CEE REGION. Serbian Journal of Management , 9 (1), 45-58. Solon, O. (2017, April 24). Alibaba founder Jack Ma: AI will cause people more pain than happiness. Retrieved September 14, 2017, from https://www.theguardian.com/technology/2017/apr/24/alibaba-jack-ma-artificial-intelligence-more-pain-than-happiness Stevens, R. H., Ogunji, E. (2010). Managing Diverse Organizational Environments for Strategic Advantage:Exploring the Value of Developing Business Diversity Curriculum in Higher Education. Journal of Management Policy and Practice , 11 (4), 72-85. Stone, M., D'Onfro, J. (2014, October 3). The Inspiring Life Story Of Alibaba Founder Jack Ma, Now The Richest Man In China. Retrieved September 14, 2017, from https://www.businessinsider.in/The-Inspiring-Life-Story-Of-Alibaba-Founder-Jack-Ma-Now-The-Richest-Man-In-China/articleshow/44153645.cms Ward, M. (2017, June 21). Jack Ma: This ism what to study if you want a high paying job in future. Retrieved September 14, 2017, from https://www.cnbc.com/2017/06/21/jack-ma-this-is-what-to-study-if-you-want-a-good-job-in-the-future.html West, R., Turner, L. (2010). Understanding Interpersonal Communication: Making Choices in Changing Times, Enhanced Edition. United States : Cengage Learning. Zakkour, M. (2014, September 29). How Jack Ma's 'Crazy' Management Style Built a Technology Empire. Retrieved September 14, 2017, from https://www.entrepreneur.com/article/237881

Imperial Contingent Liabilities and Contingent Assets

Question: Discuss about the Imperial Contingent Liabilities and Contingent Assets. Answer: Introduction: As per the APES 110, Code of Ethics for Professional Accountants, the act of Peter is not in consent with the ethical code. Section 240 of the Act states that the auditor in case is in receipt of any commission on referral should inform the client about the same along with the computation of such commission. And the name of the dealer. He should clear the same in writing thus in the present case Peter should inform the client about the commission he is to receive from Computer Services Limited else the same would construe violation of the ethical code of conduct. An auditor is not permitted to reveal the details about any of its client to any third party without the consent of the client except if required by the law. Thus as per the said scenario, Davids action was not in line with the ethical code of conduct. David should have asked the client before disclosing their contacts to the Allied Insurance. Therefore so as to ratify his acts he should take permission from his clients and then forward the contacts. Independence is the crux of the work an auditor performs. Therefore any auditor who performs the work of audit should not perform the other non-audit services as it would contradict the independence of an auditor. However if the auditor or the audit firm has taken due permission from the auditee then he or she can conduct both the work. But even after the same the work performed by the auditor should be duly checked and verified by the audit firm in order to ensure integrity and objectivity in the work conducted by the auditor. Thus, APES 110 defines it clear that the staff of the auditor can help in the data entry work as well as do the audit but only after getting permission in writing from the client. Advertisement of ones own professional work so as to gain work from others may at times lead to such a situation which is in contradiction to the fundamentals of professionalism. Thus comparing the work of one professional with that of the other brings disrespect to the profession which is not the right thing. Thus Barry in the present scenario, has performed a task in contradiction to the fundamental principle of professionalism. Sending management services to the client without his permission just to obtain that work is not acceptable hence the same should be stopped immediately. An auditor in case also acts as a director of the same company then a self interest and a self review threat is said to be created as per Section 290.146 of the APES 110. Honorary director even if is not active in the board or the conduct of the company may pose threat to the integrity and independence of the auditor. Thus in order of Katrina NG to hold the directorship will have to step down from the position of an auditor of the same company. An accounting professional has the capability to perform the work of an audit, management services as well as taxation or such other non audit services as well. However performing both the task of an audit as well as other non-audit services may pose a threat to its independence. Thus in the said case Peter will have to resign from the work of either an auditor or non-audit work. But if Peter is to conduct both the work then as per the provisions of the Combines Code of Corporate Governance, then the audit committee of the company will have to counter check the non-audit work performed by Peter. Any auditor can advertise his work by giving advertisements in the journals and newsletters issued by the institute . However if an auditor solicits work by giving advertisements which are jazzy and colourful mentioning the details of the staff and the employees and comparing the same with others, violation of the ethical code of conduct takes place. This makes it clear that the conduct of Hornsby Auditors were not acceptable as per the Code. Secondly mentioning the fact that they would enable the clients to get higher tax benefits than the others in the district is also a misleading statement which is also not permissible. Therefore if the auditor is to advertise his work then he should do the same only in the journals and newsletters of the institute. Any auditor should issue the current years audit report to the client only upon clearance of the audit fees of the previous year. The AICPAs Code of Conduct does not deter the auditor from conducting the audit work but deters the auditor from issuing the audit report. Thus David Cheadle has not violated the code of conduct by starting the current year audit work however he should at the same time ensure that the report should be given only once previous fees has been cleared. Obtaining confirmation of balances from debtors and creditors is one of the most sought after part of an audit work. Simply because it give double assurance with regards the amount and the fact that the transactions reflect a true and fair view. But if the auditor is unable to get the confirmation from them then he can take the possible steps to verify the same. Thus the auditor should not give any negative or adverse opinion for the same since he had satisfied himself about the correctness of the balances of the customers. An auditor should check all the assets in detail of the audit client especially if the same is a major contributory to the income of the client. But in this scenario the client is not allowing the auditor to check the plant and machinery which contributes to 20% of the asset base and is a major revenue generating asset. Thus he should give a negative opinion on the same. Audit of the contingent liabilities is a must as they form a very vital part of the financial statements. An auditors work is to see that the contingent liability has been measured and recognized correctly so that the investors are aware of the expected future liability of the company. Therefore its disclosure is mandatory[6]. Hence even if the client refuses to disclose the same, the auditor should try to do the same else give an adverse opinion. A retailer should always maintain its books of accounts irrespective of the fact that its major sales and purchases is in cash. Without the same an auditor will not be able to audit the books of accounts. Thus in the present scenario since the auditor will not be able to conduct the audit well, he should give a neutral opinion to the fact that the audit could not be conducted hence no opinion can be formed. Verification of the opening balances of the client is the first step of an auditor. In case the audit client is an old one, the auditor can skip this first step also. But in case the audit client is a new one, this step is a necessity. Thus even if the client refuses to allow checking of the opening balances and th auditor has still been able to satisfy himself about the correctness of the balances, yet he should give an adverse opinion stating the reasons for the same simply to safeguard from any future litigations. Australian Accounting Standards mandates all the companies registered in Australia to maintain its books of accounts. If the same is not done then the auditor should ask the client to maintain the same so that he can conduct his work smoothly. If the client still does not then he should give an adverse opinion. Inventories or stock-in-trade should be valued by using the FIFO or the weighted average method. Therefore if any firm values its inventories using the LIFO method then he should switch over to the FIFO or the weighted average method. Thus in this case the auditor should make clear the details about AASB 102 and if the client does not alter the valuation of inventories even then, he should give an adverse opinion. In the present scenario, the auditor should give an adverse opinion since the clients going concern became questionable during the issue of the audit report due to exit of their main customer. Therefore the client should be asked to prepare the accounts again using the cash basis and give a negative opinion with regards the continuity of the business of the client. References: Albeksh, Hasen Mohamed, Compliance of Auditors to Ethics and Rule of Professional Conduct and Its Impact on Audit Quality (2016) 2(12) Imperial Journal of Interdisciplinary Research https://www.onlinejournal.in/IJIRV2I12/092.pdf APESB, (2010), APES 110 Code of Ethics for Professional Accountants, https://www.apesb.org.au/uploads/standards/apesb_standards/standard1.pdf auasb.gov.au., (2015), Auditing Standard ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with the Australian Auditing Standards, https://www.auasb.gov.au/admin/file/content102/c3/ASA_200_Compiled_2015.pdf aasb.gov.au., (2015), AASB 102 - Inventories, Available at https://www.aasb.gov.au/admin/file/content105/c9/AASB102_07-15.pdf aasb.gov.au., (2011), AASB 137 -Provisions, Contingent Liabilities and Contingent Assets, https://www.aasb.gov.au/admin/file/content105/c9/AASB137_07-04_COMPoct10_01-11.pdf aasb.gov.au., (2012), AASB 101- Presentation of Financial Statements, https://www.aasb.gov.au/admin/file/content105/c9/AASB101_09-07_COMPsep11_07-12.pdf cimaglobal.com., (2015), Ethics code at a glance, https://www.cimaglobal.com/Professionalism/Ethics/CIMAs-code-at-a-glance/ Jelic, Milos, The Impact of Ethics on Quality Audit Results (2012) 6(4) International Journal for Quality Results https://www.ijqr.net/journal/v6-n4/4.pdf