As though explaining to an interested party who is not familiar with International Auditing Standards, explain what these are and how they are similar to and different from American auditing standards. Part B Outline and discuss the advantages and disadvantages of all countries in the world adopting a common set of auditing standards. Include an examination of how these could be administered. Part C Explain the ethical standards of auditing in the U.S. and why it is so important to have strong global standards also. Discuss the ethical guidelines you consider to be absolutely essential as part of International Auditing Standards.
The name “precious stone” originates from the Greek word, “adamas”, which means unconquerable. Appropriately jewels are the hardest characteristic substance known to man, it is comprised of smooth white unadulterated carbon precious stones. Jewels have dependably been an indication of riches and flourishing. It is additionally a conventional articulation of adoration. Notwithstanding, it is financing and benefitting horrendous political local armies. Individuals all around the globe possess these precious stones, and have never known about Sierra Leone. Blood jewels, likewise called “strife precious stones,” are jewels that are wrongfully mined and exchanged by dissident gatherings to subsidize state armies that are against governments. To completely comprehend the greatness of these pearls, and at last understand their job in viciousness, it’s critical to know where they originate from. Blood jewels are primarily connected with the African nations of Angola, Sierra Leone, and Zimbabwe. These valuable stones have been around for a century or somewhere in the vicinity, however it wasn’t until the point that it financed both common wars in Angola and Sierra Leone in the 1990s, that global consideration was attracted to the detestations of these precious stones. As far back as then jewel associated brutality in Africa has been fundamental and gigantic. (Hurricane) Due to human right maltreatment, kid work, filled viciousness, and ecological annihilation of blood precious stones, the administration ought to completely authorize the counteractive action of exchanging struggle jewels inside the jewel business. After the nation picked up autonomy from Portugal in 1975, Angola’s thoughtful war seethed for about thirty years. (Hurricane) The restricting divisions made a consent to stop fire, and held a multiparty decision. Understood radical pioneer Jonas Savimbi kept running for administration, yet was vanquished. Trusting that the decision was uncalled for, he took his radical gathering, the National Union for the Total Independence of Angola (UNITA), and took control of 66% of Angola, including lion’s share of its precious stone mines. With the precious stones, he subsidized the guerrilla fighting. UNITA’s precious stones were snuck out of Angola through the Democratic Republic of Congo. (Campell 4) Sierra Leone is a little country on the West African drift with a populace of more than four million individuals. It used to be a main nation with solid scholarly and creative accomplishment, and pioneering capacities. Nonetheless, with an awesome decrease, it is currently the most noticeably awful place to live on the planet, and it keeps on deteriorating. The nation is threatened by the Revolutionary United Front (RUF) who is propelled by two variables: 1. Government inability to take care of the necessities of the nationals; and 2. Clashing thoughts regarding who should control the state’s mineral assets. (Banant) Initially RUF professed to battle a degenerate organization, anyway the revolutionaries immediately understood that the best course to control lay in Sierra Leone’s precious stone mines. Foday Sankoh, a previous corporal of the Sierra Leone armed force, drives the RUF. He was detained for a long time for being a piece of the upset endeavor against Siaka Stevens. (Meredith 107) By 1994 the RUF had control of enormous parts of Sierra Leone and its mines. They snuck the precious stones into their neighbor, Liberia. From that point is sold into the world market. In 2007, Zimbabwe rose as a hotspot for vast scale jewel sneaking. The nation’s jewels surfaced in South Africa, where it was accounted for as authentic precious stones and was sent out far and wide. Anyway the Zimbabwe government energetically denied these charges. In the previous two years with additional proof of defilement, the viciousness in the country’s precious stone fields keeps on prodding worldwide concern. Human Rights Watch led contemplates that demonstrate that cops in Zimbabwe’s fields to end the illegal precious stone carrying were really in charge of the slaughtering of craftsman mineworkers and local people. In October 2008, under the control of President Robert Mugabe, the Zimbabwe military executed more than 200 individuals to assume control over the Marange precious stone fields. Today De Beers a London based organization, powers more than 66% of the world’s precious stones. This organization wound up included with the precious stones from Africa directly after their disclosure. Rhodes, the maker of De Beers imagined controlling the entire precious stone market. He could finish his monopolistic objectives by 1880. With the arrangement of the London Diamond Syndicated, Rhodes could coordinate supply with interest. It gave him imperative data about the jewel showcase enabling him to make a falsely controlled supply of precious stones. Consequently, the traders were ensured sure measure of precious stone supply from Rhode’s mines. (Johnson) The agitators have carried out evil violations against mankind. The RUF utilizes a merciless strategy as an apparatus to threaten the non military personnel populace into accommodation and break-separated families and networks. Individuals are snatched, men are caught to work in the mines, young men are enrolled into groups, and ladies and young ladies go about as residential sex slave to the contenders. The war from 1991-1999 has asserted more than 75,000 lives, caused 500,000 Sierra Leoneans to wind up displaced people. (Johnson) Nearly 80% of the Sierra Leone’s populace of 5 million individuals have been dislodged. ( Campbell) According to explore done by “Doctors for Human Rights”, almost every town in Sierra Leone under the run of RUF has been significantly affected by the tumult. Assault of ladies and young ladies was far reaching and horrendous amid the contention in the 1990s, and is purportedly proceeding right up ’til the present time. Out of twenty ladies talked with, twelve were assaulted. The renegades had beaten them to cause bewilderment and to break their opposition. (Ringer) Those sufficiently fortunate to escape from the renegades or who was discharge from some reason, experience the ill effects of different results. Explicitly transmitted diseases including HIV/AID are uncontrolled in this shared trait. Injury, posttraumatic push issue, nervousness, despondency, and estrangement from their networks, scar the lives of these casualties. A high level of the survivors are pregnant or are single parents of “revolt babies”, a steady indication of their terrible enduring. (Johnson) They confront distressing fates without the medicinal considerations and philanthropic help that they require. Mutilation of men, ladies and kids is a fun diversion for the revolutionaries. Groups are devoted to catch and transform natives. Sierra Leone President Ahmad Tejan Kabbah in 1996 argued for his comrades to “hold hands” for peace. As a reaction the RUF dissected their casualties by cutting of their hands and dumped the parts on the means of the presidential castle. (Campbell XV) Médecins Sans Frontières (MSF) was made there, a camp for amputees and war injured. (Meredith 116) Sankoh coercively enrolled soldiers from the kids who were snatched amid town attacks. They experienced teaching with dugs and preparing to execute. As a rule they were compelled to execute their very own families. Young ladies were compelled to wind up fighter’s spouses (Meredith 563) Child officers was a key piece of the Sierra Leone strife. Half of the RUF were 8-14 years of age. (114) The Rarry Boys were a great many jobless young people who meandered the town of Freetown. They had a horrendous way of life loaded with betting, medications, burglary, and outrage. (117) Martin Meredith a history specialist on the point of blood precious stones said this adage, “Joining a state army aggregate is both dinner ticket and substitute training. The compensation might be derisory, however weapon preparing pays snappier profits than school at any point did. Before long the AK47 brings sustenance, cash, a warm math, and moment grown-up regard.” Young men join these battle gatherings to substitute for their lost family and companions. “Youngster warriors are frequently viewed as perfect enrolls by equipped gatherings since they are generally simple to control, improbable to scrutinize the gathering’s thought processes, and stir little doubt,” as per the promotion bunch Refugees International. Youngsters on the grounds that by the simple idea of their youthfulness are regularly incited to commite a portion of the war’s most noteworthy barbarities. (Atwood NP)>