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The Red Hunts And The Cold War Essay - 1679 Words

Over the course of this investigation I will look into the ‘Red Hunts’, the communist paranoia and at times unwarranted persecution that occurred in American and other Western allied countries during the Cold War, from the early 1950’s to the late 1960’s. I will investigate the way in which the escalation of the Cold War led to communist paranoia in Western countries and how this ‘Red Scare’ was spread through propaganda and magnified by the intense fear of military and nuclear conflict during the Cold War. The red hunts must be viewed in context - as a symptom of communist paranoia that influenced most of the western world during the Cold War. I will then examine the many ways in which the red hunts can be illustrated - movements such as McCarthyism, blacklisting, the House Un-American Activities Committee, the trial of the ‘Hollywood Ten’ and the communist witch hunts which occurred as a symptom of this communist paranoia in Amer ica. I will look at the effects of these events on groups and individuals in American society, and finally the carry on effect of this communist paranoia into New Zealand and the way in which this influenced our society, as well as the lasting impact this has on our society now. The communist paranoia that occurred in America during the period of 1947-1957 has come to be known as the ‘Second Red Scare’. This was a political and social movement of fear which led to communist witch hunts known as the ‘Red Hunts’, that categorise the period. TheShow MoreRelatedCold War in The Hunt for Red October Essay609 Words   |  3 Pages The Hunt for Red October(1990) A. Summary REd October is a hypothetical movie about a soviet defector named Marko Ramius. It was based on a Tom Clacy novel. Ramius was a Lithuanian submarine commander for the soviets. 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Fresh off of the economic and political victory that was World War II for the United States, The Soviet Union sent a challenge to the U.S that set up one of the biggest, and potentially apocalyptic stand-offs in history. The Cold War, the great stand off between the Americans and the Soviets lasted from 1947 to about 1991 according to Major Problems in American History Since 1945. This Cold War would change the culture in the United States forever, stamping it’s air of alertnessRead MoreThe Cold War Essay1029 Words   |  5 Pages When one hears the common phrase, â€Å"The only good commie is a dead one,† the Cold War comes to mind. This war, cold because of no direct violence towards each country, was a major contribution to future wartime diplomacy. The clever Americans used many tactics to create a â€Å"cold† war that would benefit them in every aspect. The fear of communism consuming smaller countries exaggerated the possibility that America’s economy could be jeopardized. 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The major events of theRead MoreEssay On The Red Scare Allegory For The Crucible878 Words   |  4 PagesRed scare allegory for the crucible The salem witch hunts and the Red Scare caused big problems and death in the U.S. In 1950 everyone was scared that communism would spread to the united states and McCarthy wanted to get rid of all communist in the united states but instead accused innocent citizens. In salem 1692 multiple girls were out in the woods dancing and were thought to be possessed and working with the devil. Girls accused many citizens in salem claiming they were witches and causingRead MoreEssay on Joseph McCarthy and McCarthyism741 Words   |  3 PagesThe Second Red Scare was a period of heightened fears of the Soviet Union and the political ideology of Communism. The paranoia and hysteria inherent to this period led to discrimination of Communists. Joseph McCarthy was a main player in this Red Scare, which was sometimes called the â€Å"Witch-Hunts in Washington.† He was a Wisconsin senator who made claims against those whom he suspected of being Communists or Communist sympathizers. Joseph McCarthy was born in a small town in Wisconsin on NovemberRead MoreThe Debate Of Nuclear Weapons1328 Words   |  6 PagesB state they knew about mutually assured destruction. Interpretation A is from a historian who considers the reasons for the US attitude to nuclear weapons. The interpretation by Hobsbawm shows that due to the Americanism ideology, the anti –Red witch hunts and the victory of the communists in China the USA found its self aggressively dealing with the issue. Therefore both sides were committed to an arms race due to fear. Therefore Hobsbawm is stating that America was using nuclear weapons not as

Charging Sales Tax on Internet Purchases Free Essays

Charging Sales Tax on Internet Purchases Internet purchases should not have sales tax because internet shopping is supposed to be convenient for the consumer. After doing some research online I came to an article called the Incidental Economist. After reading I too had to agree that your average home eBay seller and other individual small business whose profit is less than 10,000 dollars a year should not have to do the states job of pursuing a sales tax. We will write a custom essay sample on Charging Sales Tax on Internet Purchases or any similar topic only for you Order Now Was not the sales tax already paid when the Reseller first bought the product? I feel it should be his or her own profit if they are selling things that once belonged to them or in order for the seller to acquire the product in the first place it had to be bought. I feel that this is another way for the state to capitalize on a double taxing loophole. On the other hand, there is a down-side to this. With technology evolving, more consumers are turning to the internet for the ease of shopping, bill paying, and other amenities. Imposing a sales tax could improve the economy of a state by using the money from the tax to mend roads, fund schools, and implement programs in the community. The state should be responsible for making sure that sales tax is enforced not the small business seller. The state should have some program that monitors transactions on the web to enforce such a law that would make paying sales tax hard to avoid. I also feel that this sales tax should be imposed on large retailers only. Your average homeowner who wants to get rid of a few things by selling them online should not be responsible for charging sales tax. To me this is very similar to charging sales tax at a yard sale; it just is not going to happen. Works Cited Stim, Richard. Sales Tax on the Internet – Free Legal Information – Nolo. 2010. 2010 http://www. nolo. com/legal-encyclopedia/article-29919. html. The Incidental Economist. The â€Å"Amazon Law†: Sales Tax on Internet Purchases. October 2009. October 2010 http://theincidentaleconomist. com/wordpress/the-amazon-law-sales-tax-on-internet-purchases/. How to cite Charging Sales Tax on Internet Purchases, Papers

Independence Audit and Audit Engagements

Question: Discuss about the Independence Audit and Audit Engagements. Answer: Introduction Audit and ethics are closely related to each other. It is very important for an auditor to maintain the professional ethics and skepticism. People rely upon the financial statements audited by auditors and they make all their investment decision based on those statements. Thus, it becomes very important that the auditor should be independent while giving views on the financial statements of the clients. Only then, the views given by auditor would be beneficial for the general public, as it will not be affected by any hidden interest to purposely manipulate the financial statements. Here, we will deal will certain situations faced by Fellowes and Associates that imposes threat on its independency (Wahab, Zain Rahman, 2015). Audit Engagement Audit Engagement deals with the audit of financial report for a financial year or for a half year, according to the guidelines of the Corporations Act, 2001; and audit of financial report for any other purpose (Blay et al., 2014). An auditor should accept the audit engagement only after agreeing to the basis under which audit is required to be executed. The terms of audit engagement must be clear between the management or those charged with governance (TCWG) and and the auditor (AAUSB Pronouncements, 2016). Auditors Independence The independency of auditor is an essential aspect for an audit engagement as it is meant for the public interest. The auditors independence comprises of the following (CAANZ. Kemp, 2016): Conceptual Frameworks for the Auditors The auditors should adopt the conceptual framework methodology to ensure the independency (AAUSB Pronouncements, 2016). Identify the various threats to the independence of auditors. Analyze the magnitude of all the identified threats. Apply the safety measure to eradicate the risk or lower it within acceptable limits. Significant Threats for the Auditors One of the most significant threats for auditors is having any self-interest in the audit client. The self-interest is created due to having some financial interest in the audit client. In case of Fellowes and Associates, two conditions are highlighted. One of the member (accountant) who intends to be the part of 2014 audit team own share in HCHG, which is the holding company of TCCL. The interest of accountant is immaterial to him. Fellowes and Associates valued the intellectual property of HCHG, which includes intangible assets valuing $30 million in the Consolidated Balance sheet. The value of intangible assets is material for HCHG. These two conditions focus mainly on: holding the financial interest in the audit client (TCCL) directly or indirectly, and whether such interest is materialistic. The threats that are imposed by these two conditions are discussed below: The financial interest arises when the member of audit team or his immediate family or a firm has a direct control or indirect materialistic control (DeFond Zhang, 2014). Here the main points to be considered are that the effect should be direct or if it is indirect, it should be material. However, in case of first situation where the accountant has owned shares of HCHG, it will not have any threat on the firm because the accountant owns the share of holding company thus it is an indirect interest. As given, the effect is not materialistic. Therefore, the overall impact of this situation cannot be risky for Fellowes and Associates. Further, as per Section 290.112 of APES 110 (2008), if the member has interest in the entity in which even the audit client has interest, such an interest will be significant only if it is materialistic. Providing the valuation services to audit client will give arise to threat of self-review. The threat depends on the materiality of effect of such valuation, the reliability of data on which such valuation is based, interference of the client in such valuation and the extent of disclosure regarding it in the financial statement. In this case, the audit firm has performed the valuation service in HCHG, which has significant material effect in the consolidated balance sheet. Thus, it will have a threat on the firms independency while performing the audit of TCCL. Actions to Prevent Potential Threats The last part of the conceptual framework is to take steps that will eliminate the potential threats. As discussed above there are two main threats that could arise (Tam, Zwar Markham, 2013): threat of self-interest and threat of self-review. The actions to prevent the risks are listed below: Self-interest threat: Though there is very less probability of this risk as the interest in not material, however, if the other members still feel that there is possibility of the risk the following step can be taken: Reduce the amount of investment in the shares by an amount that the treat ceases to exist or decreases to acceptable level Eliminate the member having such interest from the audit team. Self-review threat: following steps can be taken to reduce the threat: Including a member in team of audit did not take part of the valuation of intangible assets. Arrangements should be made in such a way that person involving in the valuation service does not take part in the audit engagement. By following these steps, the potential threats could be reduced to acceptable level. Conclusion This report brings into light various potential threats that are faced by Fellowes and Associates and elaborates the steps taken to overcome them or eliminate them up to acceptable level. The independency of auditor is the most crucial phenomenon and it cannot be compromised ("New auditors, but same risk", 2016). It is essential for every auditor to follow the conceptual framework as discussed in the report above before taking up any audit engagement. The auditor will be liable for violating the professional ethics if it is discovered that the auditor is dependent. Thus, Fellows and Associates must follow the conceptual framework even in future to reduce such risk of potential threats. References AUASB - Pronouncements. (2016). Auasb.gov.au. Retrieved 26 December 2016, from https://www.auasb.gov.au/Pronouncements.aspx Blay, A. D., Notbohm, M., Schelleman, C., Valencia, A. (2014). Audit quality effects of an individual audit engagement partner signature mandate.International Journal of Auditing,18(3), 172-192. CAANZ., Kemp, S. (2016). Auditing, assurance and ethics handbook 2016 Australia (1st ed.). Milton, Qld: Wiley. Compiled, A. P. E. S. 110 Code of Ethics for Professional Accountants. (2008, February).Accounting Professional and Ethical Standards Board. DeFond, M., Zhang, J. (2014). A review of archival auditing research.Journal of Accounting and Economics,58(2), 275-326. New auditors, but same risk. (2016). tribunedigital-chicagotribune. Retrieved 26 December 2016, from https://articles.chicagotribune.com/2002-07-14/business/0207140033_1_audit-committees-auditor-independence-new-auditors Tam, C. W. M., Zwar, N., Markham, R. (2013). Australian general practitioner perceptions of the detection and screening of at-risk drinking, and the role of the AUDIT-C: a qualitative study.BMC family practice,14(1), 1. Wahab, E. A. A., Zain, M. M., Rahman, R. A. (2015). Political connections: a threat to auditor independence?.Journal of Accounting in Emerging Economies,5(2), 222.