Academic Performance and Personal Growth and Development Essay

Scholastic Performance and Personal Growth and Development - Essay Example The reason and objective of any instructive organization are to present and introduce a lot of information and aptitudes to the understudies and along with the guardians as well as gatekeepers go about as the overseers of self-awareness through finding and supporting gifts. Given instruction organizations will have understudies from all financial, social and social partitions; understudies skilled in an unexpected way, with alternate points of view on the training and learning frameworks and with various post-school goals, and it’s crafted by the foundation and pertinent partners (Joyce, 2011) to coordinate these attributes to assist them with accomplishing greatest in school life. These understudies may expressly and additionally certainly portray or grandstand their qualities in that some are truly dynamic in both the scholarly and additional educational plan exercises though others might be detached in any of them or both (Rayner and Cools, 2011). This will in one manner or the other impact their scholarly presentation and self-awareness and advancement both at the school and after school which is comparable yet extraordinary somewhat and this paper looks to differentiate the scholastic execution, initiative/regulatory jobs and post-school lives of dynamic and detached understudies. Aside from guaranteeing understudies psychologically comprehend the topic; foundations are likewise intrigued to guarantee that graduates can make great pioneers, an ascribed supported inside the establishment. Dynamic understudies tend are associated with positions of authority to a more prominent degree than the aloof understudies however similarly need regulatory aptitudes; a factor that can be credited to sanity and observations between these understudies (Scherer, 2010).

Free Essays on Cognitive

How do individuals decide? What triggers an individual to make a move at some random point? These are for the most part addresses that I will endeavor to reply with my hypothetical examination into Leon Festinger’s hypothesis of intellectual disharmony, just as a large number of the other related speculations. We regularly don't understand the mental occasions that happen in our regular day to day existences. It is critical to pay heed to hypotheses, for example, the equalization hypothesis, the congruency hypothesis and the intellectual discord hypothesis with the goal that one’s self-influence happens purposely. As analyst and scholar increase a superior comprehension of Festinger’s intellectual disharmony hypothesis control could happen more effectively than it as of now does in today’s society. Leon Festinger’s subjective cacophony hypothesis is firmly identified with a significant number of the consistency speculations. The first of the significant consistency speculations, the equalization hypothesis, was proposed by Fritz Heider (1946, 1958) and was later reconsidered by Theodore Newcomb (1953). Heider and Newcomb’s hypothesis was for the most part taking a gander at the collaboration between two individuals (relationally) and the contentions that emerged between them. At the point when two individuals have clashing suppositions or strain is felt between someone else, it is almost certain influence will happen. In such a case that no strain was felt between the two gatherings, or there were no clashing conclusions there would be no compelling reason to convince one another. All things considered, influence happens simply because there is pressure between two realities, thoughts or individuals. Charles Larson writes in his book, Persuasion, Reception and Responsibility, â€Å"another way to deal with the consistency hypothesis is congruency hypothesis, by Charles Osgood and Percy Tennenbaum (1955)† (p.82). This hypothesis proposes that we need to have balance in our lives and there is a deliberate method to nu! merically make sense of it. At the point when two perspectives impact, we should endeavor to find some kind of harmony between the two mentalities. The equalization changes depending ... Free Essays on Cognitive Free Essays on Cognitive How do individuals decide? What triggers an individual to make a move at some random point? These are largely questions that I will endeavor to reply with my hypothetical investigation into Leon Festinger’s hypothesis of subjective discord, just as a considerable lot of the other related speculations. We frequently don't understand the mental occasions that happen in our regular daily existences. It is imperative to pay heed to hypotheses, for example, the equalization hypothesis, the congruency hypothesis and the psychological disharmony hypothesis so one’s self-influence happens purposely. As clinician and scholar increase a superior comprehension of Festinger’s intellectual cacophony hypothesis control could happen more effectively than it as of now does in today’s society. Leon Festinger’s subjective cacophony hypothesis is firmly identified with huge numbers of the consistency speculations. The first of the significant consistency hypotheses, the parity hypothesis, was proposed by Fritz Heider (1946, 1958) and was later reexamined by Theodore Newcomb (1953). Heider and Newcomb’s hypothesis was generally taking a gander at the cooperation between two individuals (relationally) and the contentions that emerged between them. At the point when two individuals have clashing conclusions or strain is felt between someone else, it is almost certain influence will happen. Provided that no strain was felt between the two gatherings, or there were no clashing suppositions there would be no compelling reason to convince one another. Looking at the situation objectively, influence happens simply because there is pressure between two realities, thoughts or individuals. Charles Larson writes in his book, Persuasion, Reception and Responsibility, â€Å"another way to deal with the consistency hypothesis is congruency hypothesis, by Charles Osgood and Percy Tennenbaum (1955)â₠¬  (p.82). This hypothesis recommends that we need to have balance in our lives and there is a precise method to nu! merically make sense of it. At the point when two mentalities impact, we should endeavor to find some kind of harmony between the two perspectives. The parity fluctuates depending ...

Terrible Honesty Mongrel Manhattan in the 1920s free essay sample

This paper examines the depiction of the air that described the period known as Prohibition in Ann Douglass book, Terrible Honesty: Mongrel Manhattan during the 1920s. This paper looks at an entry in Ann Douglass book, Terrible Honesty, that manages New Yorkers parading their insubordination of Prohibition during the 1920s. The author takes a gander at the language of the section itself and talks about the essentialness of the selection of words and expressions. The entry itself is intelligent of New York during the time of Prohibition when there was fervor in simply accomplishing something unlawful. Preclusion is a topic that surfaces all through the book and this specific section on page 101, addresses how life was changing during this period ever. As indicated by the creator, this entry fills in as a scaffold between the past and how the mechanical advances influenced life as it had been known in the huge city. We will compose a custom exposition test on Horrendous Honesty: Mongrel Manhattan during the 1920s or then again any comparative subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Preclusion figures so unmistakably in this book since it was a significant and warmed issue, however as we have seen, it was likewise identified with governmental issues, testimonial, religion, and numerous other exceptionally intense subject matters. It was not just about getting a beverage on a Saturday night, it was about the privilege of ladies to cast a ballot, to venerate where you pick, and settle on your very own choices. It was an issue of an excessive number of laws, and the administration attempting to advise individuals how to live their own lives. Drinking might be addictive and hazardous, however individuals have the essential option to pick, and in the event that they decide to smoke, or drink, or vote, or visit a particular church, they have the right, and they may likewise need to endure the results.

Adventures First, Explanations Take Such a Dreadful Time - Literature Essay Samples

William Yeats said, â€Å"I am of a healthy and long lived race, and our minds improve with age.† It’s true that as individuals face the world, they can only gain wisdom from exposure. For a young Jeannette Walls, it’s none other than her troubling life and great number of powerful experiences that mold her outlooks on the world. In her memoir The Glass Castle, she and her family constantly face hopeless challenges like starvation, homelessness, and addiction. From the desert to New York, Jeannette’s attitudes towards her family’s idealistic poverty and nomadic homelessness change over time from naive youthfulness to reflective acceptance. For the Walls, coping with extreme poverty, haphazard relocation, and virtual homelessness is pretending that their life is an â€Å"incredibly fun adventure† (Walls 85), and for young Jeannette, the mere concept of â€Å"adventure† is more than enough to eliminate many of her worries about their uncertain lifestyle. Describing one desert night, she recounts, â€Å"we slept under the starsDad said that was part of his planI told Lori how lucky we were to be sleeping out under the sky like Indians. ‘We could live like this forever,’ I said. ‘I think we’re going to,’ she said† (18). Jeannette is not  stopping to think about how  they don’t have pillows, money, or even a place to sleep at night; instead, she perpetuates the serene image of sleeping under the stars and connecting with nature. Her strong bond with her father is apparent, seeing as she fully believes that their misfortune is all â€Å"planned.† She is still so dependent on family that she is blind to the facade of adventure that masks the reality of hardship. Her use of the word â€Å"lucky† illustrates that she isn’t merely searching for a bright side to the situation; this is a real adventure for Jeannette, or at least she has thoroughly convinced herself so. Conversely, while Jeannette gazes at the stars, Lori offers the stark contrast to her young sister’s starry-eyed wonder. Older than Jeannette, Lori is recognizing that homelessness is not something to be romanticized. Though adolescent years are always awkward transitions from dependence to independence, Jeannette’s transition is driven by the contradiction between her love for her family and her developing embarrassment towards the family’s lifestyle and choices. One day, after a disturbing encounter with a welfare officer, she narrates, â€Å"At least when Ernie and his gang came around yelling that we were trash, we could fight them off with rocks. But if the child-welfare man got it into his head that we were an unfit family, we’d have no way to drive him off† (194). Jeannette’s words serve as a metaphor that perfectly embodies her struggle. She describes her retaliation towards Ernie as juvenile and rugged, fighting with rocks; she is a rough-and-tumble, vengeful girl responding immaturely to bullies. This fearless air greatly contrasts her helplessness in facing the welfare man. For her, he symbolizes government and adulthood, in the sense that she must lea rn to deal with things she doesn’t particularly like. As age brings responsibility, it also brings wisdom, and she realizes that she’s also becoming more embarrassed by her family’s social standing and grows conscious of their image. In other instances, Jeannette is deeply upset by a woman’s use of â€Å"poor,† in reference to her pitiful hitchhiking. She even feels the need to research the option of welfare and encourage her own obstinate mother to get a job, or go on welfare. In each example, Jeannette is confused by the contrast between the allegiance to family that drove her childhood and the new awareness of the fact that in the real world, the lifestyle she’s used to doesn’t quite cut it. By the time she reach New York, although her parents still possess some signature Walls optimism, Jeannette is mature and fully understands that vagrancy is quite the opposite of an honorable adventure. When given the opportunity to confront people degrading her family, she says, â€Å"that would have meant explaining who I really was, and I wasn’t about to do thatI was tired of taking on people who ridiculed us for the way we lived, I just didn’t have it in me to argue Mom and Dad’s case to the world† (256). After a life of ignorance for bliss and facades to disguise famine, Jeanette is coming full-circle in self-awareness with the same bluntness and severity she always had in her wit from a young age: her whole upbringing has practically been a lie. She portrays guilt, yet it’s overridden by twenty-some years of exhaustion and suffering for the sake of â€Å"adventure.† Jeannette’s uses of phrases like â€Å"didn’t have it in me† and â€Å"tired† only display that she considers defending her parents to be almost physically (and surely mentally) exhausting, and who wouldn’t be tired after carrying much of the burden of a heavily burdened family from childhood into adulthood? In addition, she’s not even able to reveal the truth about her past, showing just how embarrassed she feels thinking about the depths to which her family has sunk just to exist. While she still loves her mom and dad, Jeannette is finally fully grasping what independence, survival, and self-preservation entail. A constant that remains throughout the story is Jeannette’s naivety and non-accusatory view of most things, as if the story is told through the mind of an optimistic girl in a hopeless world. However, whether due to her nature or to the way in which she was raised, Jeannette shows at a young age remarkable traits of wisdom and understanding, if only through unadulterated affection. â€Å"Unadulterated† in itself is an interesting concept, as if her affection is never tainted by the clutches of adulthood, or as if adulthood only contaminates pure thoughts and emotions with the burden of knowing â€Å"too much.† While Jeannette watches her family with growing pity as time passes, simultaneously her life clarifies as she, in adulthood, can comprehend the full picture. Ultimately, even if Jeannette decides that she can’t fully trust the teachings of an untrustworthy family, there is at least one piece of advice from her mother Rose Mary Walls that evidently ho lds true: What doesn’t kill you can only make you stronger. Through hungry nights, physical abuse, and emotional turmoil, what doesn’t kill Jeannette Walls her only makes her wiser, and stronger.

Identifying Occurrences By Collating Data - 871 Words

Quantitative research can be described as explaining occurrences by collating data that can be analysed using mathematical methods (Muijs, 2004). Quantitative data is considered important as it is unbiased and reliable, is able to look at relationships between variables identifying cause and effect in controlled situations (Newman and Benz, 1998). The quantitative article being appraised is by Sniehotta et al (2006) using the Critical Appraisal Skills Programme (CASP) framework tool (CASP 2014). Burls (2009) suggest that CASP is a useful tool to help develop skills to critically appraise and understand scientific research evidence using a simple checklist of questions. Additionally the National Health Service (NHS) resource department recommend CASP as a useful tool for critiquing medical research papers (Havard 2007). CASP considers 3 wide issues that need to be considered when appraising an article, these are broken down into 11 questions the enable thought processes to answer the issues systematically. A longitudinal experimental study was used over a period of 10 weeks to monitor the long term effectiveness with two planning interventions and a control group. Longitudinal experimental studies are beneficial in allowing the researcher the ability to observe changes over time and evaluate cause and effect of change (Teti, 2005). Furthermore they allow for clear focus and legitimacy by allowing a clear end result to be observed from a clear focus. However there may be aShow MoreRelatedEssay on Sandwich Aat1368 Words   |  6 Pagesto potential for fraud. 4. 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All of analysis demonstrated that ERM in MS was at relatively adequate maturity level of ERM, but still needed upgrade and impr ove in the implementation of risk intelligence. II. A literatureRead MoreReview Quesition20349 Words   |  82 PagesAn organization maintaining all sales order information. 1.2 Discuss the meaning of each of the following terms: (a) data For end users, this constitutes all the different values connected with the various objects/entities that are of concern to them. (b) database A shared collection of logically related data (and a description of this data), designed to meet the information needs of an organization. (c) database management system A software system that: enablesRead Morethe importance of diversity in counselling contexts13352 Words   |  54 Pagespsychology Thematic analysis is a poorly demarcated, rarely-acknowledged, yet widely-used qualitative analytic method within psychology. In this paper, we argue that it offers an accessible and theoretically-flexible approach to analysing qualitative data. We outline what thematic analysis is, locating it in relation to other qualitative analytic methods that search for themes or patterns, and in relation to different epistemological and ontological positions. We then provide clear guidelines toRead MoreUnderstand Principles of Professional Development Essay5962 Words   |  24 Pagesaction planning skills. Setting priorities - most important/most urgent. Identifying the steps needed to achieve your goals. Being able to work effectively when under pressure. Completing work to a deadline. INVESTIGATING, ANALYSING AND PROBLEM SOLVING: gathering information systematically to establish facts and principles Clarifying the nature of a problem before deciding action. Collecting, collating, classifying and summarising data systematically. 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The axial morphology, gravity signal and crustal structure of extinct ridges are evaluated by generating across-axis profiles through global datasets (IHO - IOC 2014; Sandwell et al. 2014) for individual ridge segments. Information on the spreading-rates, time of cessation and duration of spreading prior to cessation was collating information from previous studies. The potentialRead MoreOrdinance Act Poland56376 Words   |  226 Pagesthe territory of the Republic of Poland; Article 3a.  § 1. Petitions and returns set out in the regulation issued by virtue of paragraph 3 may be submitted by electronic communications means.  § 2. A tax authority or electronic submission box in the data transmission system of tax administration shall confirm, in electronic form, the submission of a return or petition by electronic communications means.  § 3. 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The Ancient Egyptian Hieroglyphics - 1412 Words

Since the ancient Egyptian hieroglyphics in 3100 BC[3], writing has been a part of human expression. Initially, writing was used for recording the stories, myths, and histories of nations that were once mighty world powers. But as time wore on and literacy increased to the point that scholars weren’t the only people that could relay messages, writing began to morph into a form of expression. The written word became not only the best way of recording the linear timeline of what happened when, but also the more abstract social and cultural aspects of everyday people living their everyday lives. History became the ideologies, fears, and political aggravations recorded in the books of the people, regardless of the genre. And as times†¦show more content†¦47 Rothman)[5]. Rothman discovered that when the rate of discussion was slowed down, students that wouldn’t normally speak in class would have time to gather their thoughts so that they could accurately contr ibute to the discussion. If a true democracy is to be had, this inclusion is crucial, but extremely difficult without the help of writing. One author by the name of Eduardo Galeano writes about this concept of inclusion through writing in his book Open Veins of Latin America. He makes the argument that the reason authors write is to make sure that underrepresented voices are heard. In his words, â€Å"One writes, in reality, for the people whose luck or misfortune one identifies with - the hungry, the sleepless, the rebels, and the wretched of this earth - and the majority of them are illiterate. (p.12 Galeano)[3]. It is authors like Galeano describes, that increase the amount of inclusion in the democracy of life. In discussing why he writes, Galeano simultaneously raises awareness about the plight of the downtrodden. Consequently, and possibly accidentally, Galeano’s attempts to include the downtrodden in his books also had the effect of raising awareness for their plight. 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These pictures were drawn to express emotion, sound, and description, that told the comprehender what the writing was saying. Hieroglyphics and emoticons were both pictures that displayed a message, but hieroglyphics were more complicated than emoticons

Auditing & Assurance of Lehman Brother Investment Banking Firm

Question: Discuss about the Auditing Assurance of Lehman Brother. Answer: Introduction One of the four biggest firms in the field of investment banking was Lehman Brothers in the United States before its collapse in 2008 due to bankruptcy. Lehman Brothers firm was a financial service providing firm before 2008 when it collapsed, filed for Chapter 11 bankruptcy after becoming bankrupt. The main cause of the collapse of t6he Lehman Brothers can be distributed between the management and the auditors. Management didnt analyze the risky decisions it was making and the auditors paid full support, who should have warned the firm about the consequences (Montgomery, 2017). The financial statements didnt comprise of such data that would reveal the fact that Lehman Brothers was now depending on loans to invest in the mortgage market. The years from 2001 to 2008 were seemingly a boon for all the enterprises as it was a period of profit making. The firm also seemed to make enormous profits during this period and started investing in the mortgage market. It didnt pay attention that due to this period the sub-prime mortgage market has already been destroyed (Tepalagul Lin, 2015). Another mistake on the part of the firm was to offer private financing, real estates, and leveraged lending, but all from its own assets. Negligence and the absence of facts and the issues which concern while drafting the financial statements were: There was a specific period from the year 2001 to 2008 as it was regarded as a time to make huge profits. Large amounts of money were taken as a loan by the Lehman Brothers as they dreamt of the huge profits they were never going to make. They were totally attracted by this boon in the market. But the situations went uneasily as the destruction of the sub-prime mortgage market started simultaneously in the fields of investments. The firm with the dream of making billions started to invest in dangerous portfolios and this was followed by neglecting all the required inquiry about the performance of the portfolio and without thinking the consequences (Arens et. al, 2013). The firm borrowed billions from different financers to invest in these risky deals. This happened because by that time the firm had started to give its own securities and assets as loans in the form o private financing, real estate, and many other forms. Financial Instruments The firm was running down on money. It wanted more loans to satisfy itself and this was done by the use of Repo 105 transactions. The firm very cleverly presented a false image of the firm in front of the public by manipulating the values in the financial statements. This was done so that the reputation of the firm remains intact and to get the loans easily. The firm now started to keep its securities as collateral. But due to change in securities the value of the collaterals would change so the firm upon consideration from the auditors made manipulations on the balance sheet (Elder et. al, 2010). The company was at that time paying off the debts of the financers from the loans taken from other parties. The Repo 105 transactions were shown as the sales inventory of securities and this led to the decrease of the securities from the firm. Moreover, the loans taken up by the firm on the part of the securities it had, were not at all in the image on the balance sheet. The loans were take n against these securities. The firm was clever enough to show these loans in the form of Sale proceeds of investment securities. So it can be seen that the firm left no chance to highlights its liquid assets and neutral liabilities (Montgomery, 2017). The Repo transactions and the commercial papers were later used by the firm to borrow short-term loans from third parties. The firm started to invest its long-term profit making assets in the mortgage market. It didnt take long for the firm to get bound to take loans on a daily basis in the year 2008. These enormous borrowings provided a path for the collapse of the firm due to various risks. There was a sudden increase of the rate of interests due to the entry of the debt obligations in the management of the firm causing a major upset in the firm (Story et. al, 2010). The time came when mostly all the financial institutions started to refuse the take the assets and securities of the firm against short-term financing. This resulting in were unable to pay the debts (Messier, 2013). Each and every wrong step took them further to destruction by it was the concealment of the facts which sealed the deal. The collapse could have been prevented or may have been delayed if the auditors playe d their part skillfully. Auditing Standards ASA 701 communication of the key Audit matters in the Independent Audit Report All the financial reporting periods terminating on 15th December or after the specified date were the ones on which the auditing standard was applied. The functioning of this auditing standard is to collect information about the conditions of finance and other important details and report it directly to the management department of the auditor firm as soon as possible. This auditing standard is a positive move on the part of the shareholders and the public who can look upon the financial sheets directly to know about the conditions of the company and then take the time to wisely plan their investments in the company (AuASB, 2015). Positivity on the part of the financial statements by applying these standards and as per the case of the Lehman Brothers, the firm could have been saved if the ASA 701 existed and was applied. It is strictly the duty of the auditors to pay heed towards matters of great significance and importance as they can be helpful during the filing of the financial statements, if neglected then can cause serious problems. As per Wiggins et. al (2015), the auditor must be aware of the material misstatement and matters of grave uncertainty and should think about the consequences related to these problems. All these key points should be kept in mind while drafting the balance sheet. Auditing issues responsible for the collapse of Lehman Under the presence of the ASA 701, the important facts and figures about the conditions of the firm would have been revealed. The absence of the ASA 701 and other auditing standards paved a way for the collapse of the firm and this path was infused with non-communication and concealment of the major facts and figures describing the worth of the firm. All these loopholes drained the Lehman Brothers completely. Concealment of misstated Leverage Ratio The leverage ratio saw a marked difference in its values in the year 2008 in comparison to the year 2007. The leverage ratio has clearly been decreased for the Lehman Brothers. This was due to the loans borrowed by the firm which was paid after the end of the fiscal quarters thus reestablishing the securities to be depicted in the balance sheet. These payments were the ones of the Repo transactions (Fox, 2009). The firm by the use of these Repo transactions imaged the decrease in the ratio as temporary and untruthful. The time came when due to such activities of the firm the leverage ratio was decreased to a level which had to be shown on the balance sheet and also in the financial statements of the firm (Bris, 2010). These points clearly show that the Lehman Brothers were to collapse at any moment and a report should have been put up for those charged with governance. The existence of the ASA 701 could have saved the firm from drowning. The firm could also have been saved if the auditors without any settlement did their work honestly, not only the firm but numerous people investing in the firm would also be prevented from suffering huge losses (Reed, 2008). Non-disclosure of non-approval of True Sale opinion in the United States The firm was required to get a permit of true sales for carrying on the transactions. The US refused them with the same so the firm made a deal with the financing department of the UK to get a permit but conditions being that all the transactions were to be carried inside the UK. Trade of the securities would be done in the same way (Wearden et.al 2008). Approval of Lehman policy of Repo 105 for misleading the Balance Sheet The firm opted for policies like Repo 105, Reverse Repo, and Repo 108. All this would help to present a false image of the firm. This resulted as to show the equities as collateral in behalf of the securities so as to keep going with the transactions. In short, the financial statements were window dressed and the actual position was different (Fox, 2009). This was done in the notice of the auditors and hence, the financial statements were altogether showing a different position but the reality was different. There was a breach of the standards and the auditors were involved in it. Providing green signal to financial statements that conceal Repo transactions It was the duty of the firm to buy back the securities of the firm worth millions of dollars. These remained undisclosed in the financial statements and as mere fluctuations in the balance sheet (Reed, 2008). Such were not disclosed and those facts were provided at the footnotes that did not meet the criteria of the disclosure. This misguided the investors and an entirely different aspect were created. The buy back of the securities at a minimal rate was depicted as derivatives (Bris, 2010). This shows that numerous facts were concealed by the management and the auditors of the firm which caused the collapse. Thus the points provide transparency to the fact that it was the mistake of the auditors on every step which led to the collapse. It is also possible that if the ASA 701 was present at that time then the auditors have made a tough call and would not have agreed on the management play with the balance sheet and the financial statements. Had the standards were operative then the auditors would not have allowed the misleading information. In short, when the regulations are strong and operative there is always a balanced act otherwise any loopholes are exploited to the utmost. The same can be cited for the collapse of Lehman brothers. Recommendation It is totally the responsibility of the auditors to depict the real conditions of the firm by the use of the financial statements. The positive working of the auditors is a way to ensure the benefits of the company, as well as the people, are interested in making investments in the company. The auditors report can act as a way from which people can get knowledge and then can wisely plan their investments. This can only happen if the auditors totally comply with the auditing standards set up. IN the case of the Lehman Brothers the auditors from Ernest Young can be defined to have a major hand in the collapse of the firm. If the auditors prepared fair financial statements then the company would be stopped from borrowing large amounts which the firm did, because the financiers only depend on the statements to grant loans. It is the duty of the auditors to warn the companys management about the upcoming consequences. The downfall of the Lehman Brothers clearly shows that there is a dema nd of strict supervision. It is now important for policy establishes like IFRS, Accounting standard Board, and Basel to strengthen the rules. Conclusion The reasons for the downfall of Lehman Brothers are clearly indicated in the above report and stress the importance of ethical standards in the organization. The result that emerges from the collapse is that the corporate governance and ethical standards must be strongly embedded in the organization. The same must be followed with strict precision. The organization must ensure that the rules not only benefit the organization rather is a strong driving force for the entire organization. Moreover, it has a direct bearing on the financial performance of the company. It is of utmost necessity that the organization must prepare the financial statements that should reflect the correct position and this must be taken care of by the auditors. The failure of Lehman Brother indicates the deficiency on the part of the auditors and the reports prepared therein was misleading. Therefore, the companies must opt for the adoption of strong standards of accounting and regulations. References Arens, A. A, Best, P. J, Shailer, G. E. P Loebbecke, J. K, 2013, Assurance Services and Ethics in Australia, 9th ed, Australia: Pearson. AuASB 2015, Explanatory Statement ASA 701Communicating Key Audit Matters In the Independent Audit Report, viewed 20 May 2017 https://www.google.co.in/url?sa=trct=jq=esrc=ssource=webcd=1cad=rjauact=8ved=0ahUKEwjHn8fisoDUAhUFuY8KHX-8AzoQFggmMAAurl=http%3A%2%2Fwww.legislation.gov.au%2FDetails%2FF2015L02016%2F3f9f21f6-38e3-4a6d-a1b3-c254e21f9d62usg=AFQjCNFuTx7N8zQsoLcER_cUQxKxD63tBAsig2=Ll0A_tO8Au2yrKz0LG3-LQ Bris, A 2010, The Lehman Brother Case: A corporate governance failure not a failure of the financial market. IMD International Elder, J. R, Beasley S. M. Arens A. 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