Power Of The President And Congress - 1303 Words

Power of the President and Congress In the United States, a knowledgeable and reliable president should bring a country into economic development and give citizens truth. It is easy to see how a president affects foreign policy. The President has the highest power to decide how to manage, control, and to solve problems. The president and Congress play important roles in running the country regarding foreign policy making. Foreign policy is very significant because it provides peace between countries without going to war. In order to develop the nation’s economy and increase job opportunities, effective foreign policies help to acquire more investments from foreign investors, and it also affects the world’s economy; therefore, foreign†¦show more content†¦The president can make decisions regarding, â€Å"Executive agreement or trade agreement† as long as they are beneath â€Å"treaty level† with senate confirmation (Welch et al. 335). Even though the president has his own power on hand, Congress still needs to check to see whether the president faithfully performs his bills (Welch et al. 335). As a result, the president’s treaties take effect only if they are passed by â€Å"two-thirds of the Senate†¦Ã¢â‚¬  (Welch et al. 335). Furthermore, veto power is another way to effect the lawmaking of the president, but the only exception is that two-thirds of each house can cancel the â€Å"president veto† (Welch et al. 309). However, the president is advised that they should not abuse veto power because â€Å"president who use the veto too often may appear isolated or uncooperative or may seem to be exercising negative leadership† (Welch et al. 352). Therefore, the â€Å"oversight† of Congress is so important to check and control whether the President practices making foreign policy appropriately. Second, Congress should continue to assert its own role to oversee the president’s work in controlling budget making. Budgeting is one of the most important factors effecting national activities. For example, the government cannot work without a budget; therefore, â€Å"the Constitution gave Congress the power to appropriate money and to account for its expenditure† (Welch et al. 311). Congress also oversees the federal budget by using the budget effectively. For example, itShow MoreRelatedThe Three Branches of the United States Government913 Words   |  4 Pagesensure a separation of powers. The executive branch, headed by the President, and Congress of the legislative branch both share responsibilities to govern the nation, both domestically and abroad. In terms of foreign policy, Congress and the President have different powers that ensure that each branch works in conjunction in handling foreign affairs. The President, as Commander-in-Chief, commands the armed forces and can negotiate and sign treaties. The President also has the power to recognize foreignRead MoreThe Executive Branch Of The United States Constitution1493 Words   |  6 Pagesconsists of the president, vice president, and cabinet members. Article II of the United States Constitution gives the general idea of executive branch, such as the procedures, requirements, powers and limitation of the president. The president is given some powers in Article II Section 2 of the Constitution such as making treaties, vetoing laws, and being Chief Executive of the Executive branch. The president is also the Commander in Chief of the United States Army and Navy. Despite the powers grantedRead MoreEssay on The Power and Significance of Congress1192 Words   |  5 PagesThe Power and Significance of Congress Firstly it is important to look at the power and significance of congress as a legislative body. This includes the creation of law, and the scrutiny of the executive. Because the US federal system is ruled by separation of powers, it is important that the legislative - congress - acts as a good check and restraint on the executive - the president. The most significant power that congress has is to create and pass legislationRead MorePresident And Congress : An Era Of Polarization1394 Words   |  6 PagesThe president and Congress work together to accomplish tasks in the legislative arena. However, such task of working together has become more difficult and has diminished throughout the years. Several factors are the cause of this, and an argument can be made that the relationship between the president and Congress has become defective. Congress has the tools to make president’s job more difficult. Consequentially, presidents have their own tools to attempt to undermine such difficulties. InRead MoreAnalysis Of Richard Neustadt s The American System1495 Words   |  6 Pagesâ€Å"separated institutions sharing powers†, this implies a hopeful sense of cooperation between the three branches of government (cited in Andres et Thurber, 2000:554). However, political realities led scholars to dispute Neustadt’s claim, proclaiming the system as â€Å"separate institutions competing for power† (Murphy, 2007:9). Political paralysis, particularly between the US president and Congress, has become increasingly common in the modern era. â€Å"President proposes, Congress disposes† famously sloganisedRead MoreThe Constitution Of The United States1054 Words   |  5 PagesThe Constitution of the United States divide powers between both Congress and President in a way to prevent tyranny. The legislative and executive branches have major roles in America’s form of government. Each have significant roles but would overlay within each other especiall y when it comes to foreign policy. In the process of foreign policy, both sides tend to collide whether it may be Congress against the executive branch or vice versa. It becomes something contradictory in which Political ScientistRead MoreJames Madison s View On The President864 Words   |  4 PagesJames Madison s view on the president, that he or she is the head of the branch most prone to engage in the dealings of war, has been substantially manifested in the degree to which the executive has taken war power from Congress. In Article I Section 8 of the Constitution, Congress is stated to have the power to â€Å"declare War,† to â€Å"raise and support Armies,† and to â€Å"provide and maintain a Navy.† By explicitly listing these powers to be reserved for Congress, the Framers exemplified their preferenceRead MorePresidency and Foreign Policy Making Essay1692 Words   |  7 Pagesthe U.S President is considered to hold dominant authority in regard to foreig n policy making, and whether the Congress ought to hold a significant role in the foreign decision making process, it is imperative to take into account the executive powers vested on the U.S presidency. This paper posits that the Presidency should be considered to be dominant, while at other times the Congress should be considered to be the dominant authority. In this perspective, it is essential that the Congress playsRead MoreChecks and Balances678 Words   |  3 PagesCivilization. Checks and balances The Constitution separates the power of government into three branches: the legislative power is vested in the Congress, the executive power rests with the President and his bureaucracy and the judicial power is granted to the Supreme Court and other federal courts. Whereas each branch of government has separate and particular powers as listed in the Constitution, each branch is also given the power, duty and ability to control and balance the other(s) in a systemRead MorePresident Of The United States1283 Words   |  6 Pagesgovernment had a president (Welch 326). George Washington, in 1789 became the first president of the United States, as well as the commander in chief, and one of the Founding father of the United States. As a democratic country, USA has a political system where power is divided in between a legislative, executive, and Judiciary. In the beginning the presidency was not very powerful office in a fledging country that had few international ties and virtually no s tanding Army. Today the President of the Unites

Oath of the Horatii by David Essay - 1113 Words

Many artists attempt to be â€Å"avant-garde†, to present something new to the world; such as artists from the Cubist time period, Braque and Picasso. They are known for not including a clear perspective and for having geometric shapes. There are also avant-garde artists who refer back to the past for inspiration; for example Neoclassicism (Oath of the Horatii by David) and Renaissance (School of Athens by Raphael) both include Greek and Roman coalition. Avant-garde artists show the viewer’s their uniqueness and ambition in presenting something new while incorporating older traditions or just simply going past the modern world and creating something new. The Oath of the Horatii by David was a symbolic painting for the French because it†¦show more content†¦These groups of three make the painting seen more organized. Some of the Roman features shown in the Oath of the Horatii are the three big arches in the back as well as the brothers Roman warrior clothing; an d their patriotism to their country. With the intertwining of the Greek and Roman feature with perspective, even though the many groups of three found in one image is unrealistic, David on the other hand makes his painting seem realistic, creating a masterpiece. The Oath of the Horatii focused on history, while the School of Athens payed more attention to philosophy and religion. Since the building in the School of Athens seems to have the structure of a Greek cross, it’s believed that its setting is in a Basilica. The figures in the painting are scientists, mathematicians, thinkers and philosophers all from Ancient Greece. The irony is that Raphael is from Rome and yet he paints these figures which are all from Ancient Greece. However, he does include arches which the romans were known for. Within these arches is a certain design which the Greeks used. In the painting there are two Greek sculptures; Apollo which is on the side of Plato, who represented mathematicians; and A thena which is on the side of Aristotle, who represents scientists. Unlike the Oath of the Horatii, the figures here are scattered all over the place and seem even more realistic because of the interaction they are having with one another. TheseShow MoreRelatedThe Oath Of The Horatii And The French Revolution966 Words   |  4 Pages To truly understand what is relevant about this story of the Horatii and this painting of David in relation to the French Revolution, it is important to make a distinction between the things that are relevant for this research and what is not. The renaissance of the Antiquity sort of means the same as the downfall of the Ancien Regime. Neoclassicism is connected to reality and the values of the Antiquity, wherein the Ancien Regime is connect to the beauty and plentifulness of the rococo style. ThatRead MoreArtistic Revolution : David Delacroix731 Words   |  3 Pages Artistic Revolutionaries: David Delacroix Many attribute the evolution of the French revolution as the catalyst for redirection of the style of artwork from Baroque and Rococo to Neoclassical and Romanticism. Two leading masterpieces that support this aspect are respectively: Jacques-Louis David, Oath of the Horatii, (c. 1784) and Eugà ¨ne Delacroix, Liberty Leading the People, (c. 1830). As commented in Essential Humanities (2016), the French revolution â€Å"in all its heroic glory and grislyRead MoreNeoclassicism and the Enlightenment548 Words   |  2 Pagesartist better epitomizes the neoclassical movement than French revolutionary Jacques-Louis David. David â€Å"eschewed the constraints of the Acadà ©mie† (Mahabir) in pursuit of his ideals, and â€Å"appropriated [those] of ancient Greece and Rome for [his] own era† (Sporre 424). Perhaps his most important painting, The Oath of the Horatii was created in accordance with classical principles. Forgoing rococo decadence, â€Å"David organizes the canvas with a geometric precision that recalls the innovation of the ancientRead MoreWhy Do Artists Use Greco-Roman Ideals in Their Works of Art?1135 Words   |  5 PagesGreek, while in the French Revolution, Revolutionaries revered and borrowed from the Romans strength and unity. Jacques-Louis David and Raffaello Sanzio, better known as Raphael, are prime examples of painters whose art was heavily influenced by Greco-Roman culture and society. This is most evident in Raphaels The School of Athens(figure 1) and Davids The Oath of the Horatii(figure 2). Artists portrayed Greco-Roman ideals in their works of art to inspire the citizens of their time to be more likeRead MoreThe Philosophy Of The French Revolution1045 Words   |  5 Pagesnature. This ideology is best illustrated in Neoclassical art such as Oath of the Horatii, The Apotheosis of Homer, and the Pantheon in Paris. At the 1785 Paris Salon, visitors were transfixed by one painting: Oath of the Horatii by Jacques-Louis David. For over a century, the Paris Salon was the greatest annual art event in Western Europe and in 1785, it was completely dominated by the most recent work of Jacques-Louis David. The painting depicts three brothers saluting swords held up by theirRead More The Influence of Jean Jacques Rousseau Essay1247 Words   |  5 PagesOne of them was French artist Jacques-Louis David, who was official artist to the French revolution (p158, Blk 3). Just as Rousseau had used his publications to reflect on his ideas, David had used art as a media to reflect the ideas and values of the society in the eighteenth century. In this essay, we will be examining the influence of Rousseau’s views on the relationship between the state and the individual in David’s painting â€Å"The Oath of the Horatii†. Rousseau’s publication, The Social ContractRead MoreJacques Louis David And His Life During The French Revolution2483 Words   |  10 PagesJacques Louis David: An in-depth comparison of his Roman Empire Masterpieces and his life during the French Revolution Semester Research Paper Fall 2014 Throughout history many works of art have depicted events that have happened in the past through the artists eyes. In these works we can see many styles and types of art that display the artist mood, feelings, reactions and perspective. The early beginnings of Rome and the struggles that occurred are seen in Jacques Louis David early paintings.Read MoreThe Death of Sardanapalus Analysis1188 Words   |  5 Pagesembodies the feeling, emotions, and discord found in   romantic art, but also traces of neoclassicism can be noticed in the piece, but the overall painting is too busy and hectic for the average neoclassicism painting. When compared with The Oath of Horatii, the calmness of the neoclassical painting contrasts greatly with the busy scene of The Death of Sardanapalus. Although later, Delacroix’s work starts to inch towards an earlier variation of impressionism as seen in Liberty Leading the PeopleRead MoreEssay on Jaques Louis David1898 Words   |  8 Pages1. Intr oduction Set on a stage of revolution and Enlightenment, the Neo-Classical period presents a broad and interesting topic. Jacques Louis David was the first political painter, and a true revolutionary, but one cannot disengage his art work from the social and political systems of the period. Therefore, this essay will present an overview of the social context and systems of Pre Revolution France, Neoclassicism and how David’s work was influenced by it and how his work influenced it. AlsoRead MoreRococo Art in Europe and America Essay1123 Words   |  5 Pagesbygone Romans. I think this influenced Jacques-Louis David to paint myths and stories of old. The Oath of the Horatii (26-25) is an excellent example, as well as the Etruscan Room (26-23) by Robert Adams. Because so many new ideas and theories about life were given birth at this time, it was not unusual for people who had no anchoring beliefs to credit just anybodys thoughts. People with influence often took advantage of this. David, who painted a piece entitled The Death of Marat (26-26)

The Fall Of Rome And The Renaissance - 1482 Words

The Dark Ages were the entire period between the fall of Rome and the Renaissance; they were in fact the start of universities and scientific foundations. During medieval times, mainly right after the fall of Rome, society had a fairly hard time; trying to figure out what to do, many peasants started to farm. Society prospered from what they could personally grow and harvest, and whatever animals they could use, both for hard work and for food. All of this went relatively well, until the plague, or Black Death, happened in all of Europe, especially England. Millions of people died and those who survived were badly scarred. However, during the time of the plague, the Catholic religion flourished. Thus creating the second bright spot during the Dark Ages. Priests prayed for the well being of both the sick and the healthy, and many people converted to Catholicism as well. Additionally, during the dark ages, education for peasants was hard to come by since it was reserved for royalty, an d church hierarchy. However, towards the end of the thirteenth century the Church started offering education for children from common homes as well. Plus, many scientific foundations came in the twelfth and thirteenth centuries. In fact some scientists, such as Aristotle, helped find new discoveries, and medicines for disease. As one can see the dark ages, were not dark, but the start of something bright, that no one during that time would ever forget for years to come. Right after the fallShow MoreRelatedThe Renaissance And The Medieval Period1658 Words   |  7 Pages1. What is new about the Renaissance, compared to the medieval period that we studied in the last unit? The word Renaissance means revival or rebirth. This word comes from the European civilizations that follows behind the Middle Ages. It was held to characterize an interest in classical learning and values. The Renaissance dealt with the discovery and exploration of new continents, a decline in the growth of commerce and feudal systems. This new birth of resurrection is considered to have begunRead MoreEarly Renaissance And The Renaissance1205 Words   |  5 PagesEarly Renaissance to High Renaissance The Renaissance is the period that immediately follows the Middle Ages in Europe ancient Rome and Greece. Growing prosperity and reduction in political stability accompanied by new technologies, the printing press, astronomy and the exploration and discovery of new continents was supplemented by a blossoming of philosophy, literature, and art. Painting style, decorative arts, and sculpture arose in Italy in the 14th century, reached its peak in the late 15thRead MoreThe Renaissance and Italys Decline1592 Words   |  7 PagesThe Renaissance and Italys Decline Definition: The period in European civilization immediately following the Middle Ages, conventionally held to have been characterized by a surge of interest in classical learning and values. Set in the city-states of Italy in the fourteenth, fifteenth and sixteenth centuries, the constant uncertainty, both economic and political, and extreme volatility of the historical situation provided the material for new intellectual, cultural, and social experimentsRead MoreThe Renaissance in Europe1068 Words   |  5 PagesThe significance of the word Renaissance is rebirth or a regeneration of a period. This period was called the Middle Ages and it began during the fourteenth century. The Renaissance was mainly characterized for the development of learning and thinking. This period also distinguished the discovery and exploration of new continents, system of astronomy, the growth of commerce, and the innovations of paper, printing, compass, art, literature, math and science. During this pe riod, it was primarily theRead MoreComparing Military Medicines Of Ancient Rome And Medieval And Renaissance1284 Words   |  6 PagesAncient Rome and Medieval and Renaissance, a soldier in Ancient Rome had a better chance of surviving injuries than a soldier in later eras. Due to Ancient Rome’s outstanding medical innovations, their hygienic practices, precise surgeries and medicines. When discussing about ancient times a general assumption would be that people back then didn’t live a sanity life, especially soldiers due to them being in various battles and being afflicted with painful injuries. However, in Ancient Rome it wasRead MoreThe Italian Renaissance1228 Words   |  5 PagesThe Italian Renaissance was a time for great cultural change and achievements, which began in Italy approximately during the 13th century and lasted up until the 16th century. It marked the transition between the Dark Ages and Early Modern Europe. The European Renaissance originated in Central Italy, and centered in the city of Florence.i The distinctive characteristics of northern Italian states such as art, literature, philosophy, and culture produced an atmosphere of learning and artistic expressionRead MoreThe Italian Renaissance Essay749 Words   |  3 PagesThe Italian Renaissance The Italian Renaissance was one of the most colorful, vital, and exciting times in history. Renaissance eventually comes from the French word Renaistre, meaning to be born again. The Renaissance was a revival or a rebirth of cultural awareness and learning among art, law, language, literature, philosophy, science, and mathematics. This period took place between the fourteenth and sixteenth centuries. The Renaissance in Italy flourished in the 15th century andRead MoreTaking a Look at the Renaissance1027 Words   |  4 PagesRenaissance is a generally accepted name for the era of great change in culture, art, and architecture which took place in the fifteenth-and sixteenth-century Italy, and then left its mark on the culture of the whole of Europe. During the Renaissance there was a significant shift of universally recognized values. They began to appreciate and recognize the creative possibilities of a human mind, which entailed a lot of consequences. One of them was the spectacu lar development of the architecture,Read MoreEarly Renaissance Vs. Renaissance Architecture1502 Words   |  7 PagesEarly Renaissance architecture began in the early years from 1400-1500. During this era, classicism played a huge role in architectural ideas as well as religious, secularization, and humanist influences. This differed architecture from that time period to later mannerist architecture. Mannerism derived from late renaissance architecture and continued through the early Baroque era in the years 1520-1600. The influences that changed the views on early architecture were the Sack of Rome, the CopernicanRead MoreRenaissance Art : A Rebirth Of Classical Learning And The Rediscovery Of Greece862 Words   |  4 PagesRenaissance Art The Renaissance art reflected a rebirth of classical learning and the rediscovery of Greece and Ancient Rome. The Renaissance began in Northern Italy right after the Black Death which was also known as the Plague, a disease that had occurred killing almost half of the Europe’s population. The only way to avoid the disease was to leave the city to a country, however, only the rich were able to afford the trip verses the poor. The plague had led to an economic depression, there were

Obligations In An Evolving Legal Landscape -Myassignmenthelp.Com

Question: Discuss About The Obligations In An Evolving Legal Landscape? Answer: Introduction This study deals with researching on topic and preparing a report on new auditing standards ASA 701 (Allen and Ramanna 2013). This auditing standard is prepared for getting better understanding of concepts on Communicating Key audit matters in the Independent Auditor Report. The new auditing standard was developed in the wake of global financial crisis. This was developed so that shareholders should have better and full understanding of the companies where they plan to invest in. Even, investors had requested for earlier warnings of potential issues that takes place with respect to an entity skill to maintain as going concern that results in the revision of ASA 570 (Zadek, Evans and Pruzan 2013). The current segment research on auditing issues that led to the expansion of new Auditing standard ASA 701 Communicating key audit matters in the Independent Auditor Report. The study briefly explain about the key audit matters that need to be revealed in the audit report to the members of A BC Learning Centres if the new auditing standards ASA 701 has practical in the period that led to collapse of ABC Learning Centres as well as evaluating the usefulness of ASA 701. ABC Learning Centres is one of the Australian companies that were once a principal provider of early childhood education services. This company was listed in Australian Stock Exchange and based in and across Australia (Eilifsen et al. 2013). The company went into voluntarily liquidation in the year 2008 and purchased by Goodstart Limited by the year 2009. ASA 701 Communicating Key Audit Matters in the Independent Auditors Report The Auditing Standard ASA 701 explains matters relating to Communicating key audit matters in the Independent Auditor Report. In this section, it explain with the compulsion as well as accountability of the auditors to correspond effectively regarding audit matters that are of main significance in the report of auditors (Fontaine, Letaifa and Herda 2013). The Auditing Standards mainly addresses verdict of the auditors in regard to the nature of dealings that should be communicated in the audit report and compiled in the final report as well. The main purpose of communication procedure is to improve in the valuation of report that is prepared by the auditors in order to provide clarity about the performance of audit activities (William, Glover and Prawitt 2016). It is important to communicate the matter to the shareholders as they had invested money in the company and they should be communicated additional information so that they have proper understanding of the important matters in relation to financial report of any company. It is important to communicate important matters to the users so that they can properly engage with the managerial actions as well as charged by Governance in order to build relation with entity and management as a whole (Zadek, Evans and Pruzan 2013). It is the accountability of the auditor to issue an opinion on the financial statement of trade enterprise and carry out audit performance where the auditor has the responsibly with the engagement terms of the audit (William, Glover and Prawitt 2016). It is the liability of the auditor to meet the terms of the audit engagements while signing the engagement letter where they agree that they will carry on the mission and compliance with the audit standard. The main mission objectives should be taken into contemplation in order to decide variety of financial reports for assessing the structure of any business enterprise (Koh, Rajgopal, and Srinivasan 2013). Collapse of ABC Learning ABC Learning Centres is one of the companies that were founded in the year 1988 by Eddy Groves and Le Neve Groves (William, Glover and Prawitt 2016). This company was the first private owned childcare centres. In addition, the Australian Government paid subsidy direct to the concerned families. ABC Learning Centres expanded by acquiring properties as well as purchasing out childcare centres (Zadek, Evans and Pruzan 2013). Furthermore, ABC Learning Centres was listed in Australian Stock Exchange. The company had 43 centres in and across Australia by the year 2001. The company stared to expand their operations outside Australia by the year 2005. ABC Learning Centres opened centres in US, New Zealand and UK. The company owned 2238 centres by the year 2007. The main reason behind the collapse was ABC Learning Centres could not repay its debt on time. ABC Learning Centres entire UK subsidiary as well as 60% of US subsidiary. The stock price of ABC Learning Centres fell down from $8.62 to $0.54. Finally, ABC Learning Centres got delisted from Australian Stock Exchange and went into receivership (Kumar and Mohan 2016). Successful Government has failed to think of long-term about the stipulation of childcare centre in Australia. The failure of ABC Learning Centres was considered as a policy failure. This failure was not only a business failure but also a government policy collapse of the highest order. Here, the real blame was put on the successive governments child care policies (William, Glover and Prawitt 2016). It is noted that Australian had moved from a society conquered childcare model to a private-dominated model without coming into real debate on matters relating to industry type structure where the Government plays major role. ABC Learning Centres had initially tried the Macquarie Bank for leveraging a reliable income stream for getting fund acquisitions as well as hoping an ever-increasing share price that would fund boundless growth at the same time. ABC Learning Centres does not own much to the land on which the centre was sited. The competitors of ABC Learning Centres were leaving a lo w-profit or unprofitable centres (Louwers et al. 2013). Five year ban slapped on ABC learning auditor rom the news article taken from The Australian, it was mentioned that the corporate regulator had taken its first scalp over the collapse of biggest childcare chain in Australia named as ABC Learning Centres by slapping its auditor with a 5-year work ban. Eddy Groves, Founder of ABC Learning Centres had taken action against the long-time auditor of ABC Learning Centres after Australian Securities and Investments Commission withdrew a criminal charge against the company (Zadek, Evans and Pruzan 2013). ABC Learning Centres collapsed into receivership in the year 2008 that owed creditors a sum of $1.6 million as well as forced a fire sake of 1200 childcare centers that cured 1,20,000 children. The auditor of ABC Learning Centres failed to carry out or perform their duties adequately as well as properly. Mr. Green was working as a long-time auditor at ABC Learning Centres and he was banned from practicing as a registered auditor for time span of 5 years. The auditor showed $143 million p rofit in the last financial statement (William, Glover and Prawitt 2016). The auditor should have noticed that ABC Learning Centres had overstated its revenue by incorrectly including centre development fees as income. In addition, there was inadequate appropriate audit proof on the audit file that reveals that the auditor of ABC Learning Centres had applied an adequate level of professional judgment as well as professional skepticism and attained a sensible assurance that the 1997 financial report was free from material misstatement figures as well as meet the terms with all the relevant ASA (Australian Auditing Standards requirements (Messier 2016). here was inadequate evidence that the auditor of ABC Learning Centres had properly documented all the applicable investigations and completed all relevant assessment and analyzes and communicated with the management on matters relating to significant issues as well as took all relevant and necessary enquiries, testing and checking in relation to the risk of fraud. The auditor had not neither identified nor disclosed related parties as well as related-party disclosures (Schmidt 2012). Issues BC Learning Centres had boarded on some of the serious questionable measures at the development phase where the most important factor is the use of asset assessment methods (William, Glover and Prawitt 2016). Mainly, there are two asset assessment methods in accounting. The first is historical cost that is the amount paid for the assets when acquired by the business. The second is the fair value that is the predictable current market value of the possessions. Company can use any of the method where value cannot surpass the receivables amount of the asset (Tarr and Mack 2013) he failure of ABC Learning Centres took place because of over complexity of operations as well as poor decision-making process. It gives rise to ineffective corporate governance as well as questionable accounting practices that were the reason behind ABC Learning Centres failure. The other reason is revelation of related party transactions as well as individuals abusing their power and destructive expansion approach (William, Glover and Prawitt 2016). Consideration regarding going concern ASA 570 is the auditing standard that explains about going concern aspect. It is important for an auditor to take into consideration the suitability as well as aptness of the employment in different propositions of going concern at the time of preparation of course by conducting financial announcements (Ye and Simunic 2013). It is important for an auditor to consider material as well as considerable suspicion that connects to the aptitude of business unit that goes on with the idea of going concern. In condition such as Global Financial emergency, there is need for strong convenience of credit that gets along with the illiquidity throughout restricted of period (William, Glover and Prawitt 2016). There is wide range of potential issues or problems that has the capability to influence the process of continuance or perseverance of the trade entities going concern Communication with the management and other governing units It is the responsibility of the auditor to act more cautiously and aware of the need of communication with the administration who has the charge with Governance (Ye and Simunic 2013). If there was proper and transparent communication between Mr. Green (auditor of ABC Learning Centres) and Founder of ABC Learning Centres, then there would be clear understanding of situation and no malpractices could have been noticed. There was lack of communication present between the management and auditors of ABC Learning Centres that had led to collapse of the company. Weakness identified by auditor at the time of auditing should be highlighted to the management without making strategies to hide it in the audit report. Highlighting the weakness will help any company to get that issue checked and minimized as far as possible (William, Glover and Prawitt 2016). These issues should be properly communicated by the auditor to the management of any organization. The auditors should be responsible to com municate each of the audit matters to the management that can relate to nature of business entities, environment and other factors. To that, the auditor need to evaluate the process that should be strong and effective by identifying the risks and show in the financial reports and other material misstated figures that lead to fraud. The auditor needs to provide professional and fair judgment to the company with proper audit evidence and strategies to reduce it as far as possible (Zadek, Evans and Pruzan 2013). Recommendations and Conclusion It is recommended to the auditors for planning and creating strategies and policies that help them at the time of gathering proofs and evidences. The auditor has full responsibility to carry out their audit work with full diligence and help shareholders by providing correct information about the company. The auditor should not engage in malpractices as in case of ABC Learning Centres where the auditor had shown profits for the company but in real it was not the case. The auditor had shown in the financial report that the report is free from material misstatement. As per ASA 701, it is important to communicate key audit matters in the Independent Auditor Report. It is recommended recognizing revenue in proper ways. It is important to focus mainly on the core trade activities even after when an project is going through a enormous expansion stage. It is essential to give central importance regarding financial accounts of the company that shows financial health. It is essential to realiz e the importance or significance of sound corporate governance practices in trade activities. Therefore, financial structure of business as well as business transactions should not be overly complex by nature. From the ethical or legal perspective, the illegal perspective are the accounting irregularities and not ethical activities are when public was given false information about the business. The penalty were non principled behavior as it is not good for the public as they had put trust in the business who was not ready to disclose the information and give rise to lost trust for childcare providers as well as loss on education and care. Therefore, shareholders lost a lot of money at that particular period time. At the end of the study, it is concluded that ABC Learning Centres faced social, political and financial disaster. To that, there was failure of regulatory and accounting process at ABC Learning Centres. There was issue with ethical behavior at ABC Learning Centres. There was lot of issue found at ABC Learning Centres where Chris Honey was given the receivership, Federal Government injected sum of $22 million. The company was purchased by Goodstart by the year 2009 and become one of the non-profit organizations. ABC Learning Centres appeared to be failed in exercising the fundamental level of control over the management. It was needed for the administration to oblige considerably higher responsibility requirements especially on the public sector worker and establishing a sort of price regulations as the private health insurance Reference List Allen, A. and Ramanna, K., 2013. Towards an understanding of the role of standard setters in standard setting.Journal of Accounting and Economics,55(1), pp.66-90. Eilifsen, A., Messier, W.F., Glover, S.M. and Prawitt, D.F., 2013.Auditing and assurance services. McGraw-Hill. Fontaine, R., Letaifa, S.B. and Herda, D., 2013. 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