Concerning developments
“IT is not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change” -Charles Darwin
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“IT is not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change” -Charles Darwin
“Life is full of surprises and serendipity. Being open to unexpected turns in the road is an important part of success. If you try to plan every step, you may miss those wonderful twists and turns. Just find your next adventure – do it well, enjoy it and then, not now, think about what comes next.”
“You’ll spend most of the rest of your life in the future . . . and you’ll never get out of it alive.”—From a futurist
“Nothing is more difficult to take in hand,
“IT is not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change.” -Charles Darwin
“I believe the children are our future
“The Chinese use two brush strokes to write the word ‘crisis.’ One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger—but recognize the opportunity.”
THE International Auditing and Assurance Standards Board (IAASB) cognizant of the impact of technology in standards setting, engaged in the disruptive technologies information-gathering and research to prepare it for technology disruption. The IAASB has the mandate to support audit and assurance quality and to improve its own position as global standard setter, it deemed to respond appropriately to the disruptive technology.
“Live as if you were to die tomorrow. Learn as if you were to live forever.”
“All great changes are preceded by chaos.”—Deepak Chopra
“Sustainability” terminology may be interpreted or used differently by stakeholders. The term ‘sustainability’ is broadly understood to refer to information related to environmental, social, or governance (ESG) matters (be they related to reporting on investor focused sustainability information material to enterprise value and the effective functioning of global capital markets or multi-stakeholder focused sustainability reporting that captures impacts of a reporting entity on economy, environment and people) and, therefore, is consistent with the public expectations for the work of this board.”
“There is always some chance of recession in any year. But the evidence suggests that expansions don’t die of old age.”—Janet Yellen
“In a country well governed, poverty is something to be ashamed of.
“We think sometimes that poverty is only being hungry, naked and homeless. The poverty of being unwanted, unloved and uncared for is the greatest poverty. We must start in our own homes to remedy this kind of poverty.”—Mother Teresa, Missionary and Saint
“Bad times have a scientific value. These are occasions a good learner would not miss.”
“I had to make my own living and my own opportunity! But I made it! Don’t sit down and wait for the opportunities to come. Get up and make them.”
“Professional skepticism is about asking ourselves ‘how do we know and how can we be so sure?’. It is about asking critical questions. Audit quality is best achieved in an environment where there is both support and challenge from other participants. Auditors also should be challenged by other stakeholders.”
Recently, I received an e-mail from two students in accountancy of a state university down south. They sent me some queries re my opinion on what happened in the Tyco accounting scandal in 2002 as they were completing a paper on this. While obliging, I could not help but recall the major aberrations in the accounting discipline’s practice that hugged the headlines in the first decade of this century and now, being used as case studies in schools.
“I’m most grounded on the role of technology. Ultimately to me it’s about the human capital and the human potential and technology empowers humans to do great things. You have to be optimistic about what technology can do in the hands of humans.”—Satya Nadella, Chief Executive Officer, Microsoft Corp., USA
“To survive and succeed, every organization will have to turn itself into a change agent.” — Peter Drucker
A writer once said, “True love has no happy ending.” Why? It is because true love never ends.
Many may still recall the Enron accounting scandal and how it precipitated the significant changes in the accounting and auditing landscape. As a consequence of the incident that had global impact, the Sarbanes-Oxley Act was passed in 2002 in the United States. This paved the way to the creation of the Public Company Accounting Oversight Board (PCAOB). The PCAOB (the Board) is the independent, quasi-government oversight entity that has the statutory authority over the registration, standard-setting, monitoring and disciplinary actions for public accounting firms that audit public clients. It conducts periodic inspections of audit firms meant to restore and enhance public confidence in the auditing profession.
The boundaries of physical and digital worlds are melting at unprecedented speeds, leaving many of our policy-makers, heads of government and business people unprepared to integrate new concepts into decision-making processes.– Global Agenda Outlook 2013, World Economic Forum
“In the absence of sound oversight, responsible businesses are forced to compete against unscrupulous and underhanded businesses, who are unencumbered by any restrictions on activities that might harm the environment, or take advantage of middle-class families, or threaten to bring down the entire financial system.”— Barack Obama
When virtue is lost, benevolence appears; when benevolence is lost, right conduct appears; when right conduct is lost, expedience appears. Expediency is the mere shadow of right and truth; it is the beginning of disorder. —Lao Tzu
“Peace is the greatest weapon for development that any person can have.”— Nelson Mandela
“To see a wrong and not to expose it, is to become a silent partner to its continuance. ”
“Lent stimulates us to let the Word of God penetrate our life and in this way to know the fundamental truth: Who we are, where we come from, where we must go, what path we must take in life….”—Pope Benedict XVI
“It is not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change” —Charles Darwin
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