Emotional Freedom Technique, And, Meridian Tapping, Or...

Emotional Freedom Technique, also known as EFT, Meridian Tapping, or just tapping, was developed by Gary Craig in the early 90’s. EFT is a process that involves a mind and energy connection termed the â€Å"psychological acupressure technique†. An individual would self-administer an EFT therapy by tapping on the end points of the body’s energy meridians while thinking about a specific problem. Repeating a positive affirmation while either rubbing or tapping, has shown to clear the emotional block and restoring balance. Many results have found EFT to be effective in dealing with phobias, fears, cravings, pain and negative emotions. Personally, I have not yet taken a course in EFT, but I am interested in understanding the effects of EFT on soldiers returning from combat and determine if it is a suitable choice for dealing with PTSD and other traumatic experiences. I would eventually like to utilize the Emotional Freedom Technique in conjunction with other modalitie s to help patients dealing with trauma. Introduction Emotional Freedom Techniques was structured on the same points utilized in classic acupuncture, which has managed both physical and emotional conditions for thousands of years, but without using needles. Rather, the individual would use the fingertips to aid kinetic energy onto meridian point along the head and chest while thinking about an issue and using confident verbal affirmations. The sequence of using both tapping and positive statements work to remove theShow MoreRelatedDeveloping Management Skills404131 Words   |  1617 PagesSelf-Awareness 46 Self-Awareness Assessment 46 Emotional Intelligence Assessment 47 The Defining Issues Test 48 v Cognitive Style Indicator 52 Locus of Control Scale 52 Tolerance of Ambiguity Scale 54 Core Self-Evaluation Scale (CSES) 56 SKILL LEARNING 57 Key Dimensions of Self-Awareness 57 The Enigma of Self-Awareness 58 The Sensitive Line 58 Understanding and Appreciating Individual Differences Important Areas of Self-Awareness 61 Emotional Intelligence 62 Values 65 Ethical Decision MakingRead MoreExploring Corporate Strategy - Case164366 Words   |  658 Pagesdance culture that was still raw and far from respectable. He actually preferred classical music. The club’s name, the Ministry of Sound, ironically recalled Palumbo’s father, a former Minister in the Conservative government of the day. Yet within just 10 years, Palumbo built the Ministry of Sound into a music and media empire worth nearly  £150m. Two years later, Palumbo had quit as chief executive and the Ministry of Sound was looking for a new strategic direction. The Ministry of Sound’s startRead MoreManagin g Information Technology (7th Edition)239873 Words   |  960 PagesContract CASE STUDY IV-5 Systems Support for a New Baxter Manufacturing Company Plant in Mexico CASE STUDY IV-6 The Challenges of Local System Design for Multinationals: The MaxFli Sales Force Automation System at BAT CASE STUDY IV-7 Meridian Hospital Systems, Inc.: Deciding Which IT Company to Join CASE STUDY IV-8 Mary Morrison’s Ethical Issue Seventh Edition Managing Information Technology Carol V. Brown Howe School of Technology Management, Stevens Institute of Technology

Symbols Of A Short Story Beauty And The Beast - 1176 Words

Symbols of a Short Story Symbolism is everywhere from bathroom signs, movies, books even a dashboard on a car. In this essay, I will be analyzing symbols from the short story Beauty and The Beast. In Beauty and the Beast there are so many symbols all throughout the story but I will be focusing on the most important ones. In â€Å"Beauty and the Beast,† Beaumont uses the character Beauty to symbolize security, compassion and honesty. Beauty and the Beast is a story that is loved by many. One of the many ways symbolism is shown in this story is by words and objects, like the rose. Word symbolism is very significant in this story and it shows a lot about the author. Symbolism works in this story by showing the true characters. It also†¦show more content†¦Compassion radiates from Beauty. Beauty isn’t like the rest of her siblings she is nice, happy, empathetic and true to herself. She doesn’t care about materialistic things. For example, when Bea uty’s father lost all his money she was the only one out of all her siblings that didn’t just sit there and complain, she still loved her father as she did before when he had all his money. Beauty also shows compassion to the Beast by giving him a chance and not just seeing him as a scary beast. Beauty may be a symbol of compassion but that’s also one of her characteristics. Beauty and the Beast is a story of a girl and her wealthy merchant father. Beauty is the girls name and she has two sisters and three brothers who are the opposite of her, greedy and self-centered. Beauty’s father ended up losing his wealth and they became of low class and poor, which resulted in all members of the family to go to work. One day on the way to pick some stuff up Beauty’s father asks what everyone wants and Beauty asks for a rose and then her father sets out and plans to return home soon but ends up getting lost in the forest and can’t find his way bac k. Beauty’s father wakes up in a castle in a bed with food for him but he doesn’t know who has done this courteous deed for him. As he was getting ready to leave the father remembers Beauty’s rose so he picks her a rose from the garden. The Beast shows upShow MoreRelatedBeauty And The Beast Essay1447 Words   |  6 Pages Beauty and the Beast is probably one of the most well known fairy tales that the Grimms’ reproduced. In it’s original form it was a long, drawn out story that was catered to adults. The Grimms’ changed the story to be more understood by children and made it short and to the point. Unlike many of the other fairy tales that they reproduced, Beauty and the Beast contains many subtle symbols in its purest form. It shows a girl and how she transfers to a woman; it also shows that beauty is in the eyeRead MoreBeauty and the Beast: Story Analysis1469 Words   |  6 PagesBeauty and the Beast is probably one of the most well known fairy tales that the Grimms reproduced. In it s original form it was a long, drawn out story that was catered to adults. The Grimms changed the story to be more understood by children and made it short and to the point. Unlike many of the other fairy tales that they reproduced, Beauty and the Beast contains many subtle symbols in its purest form. It shows a girl and how she transfers to a woman; it also shows that beauty is in the eyeRead MoreIdentifying Symbols Using Foster s Teachings1481 Words   |  6 PagesIdentifying Symbols Using Foster’s teachings Using Foster’s How to Read Literature like a Professor Friendly Beasts in Undertale. In the book How to Read Literature like a Professor by Thomas Foster the reader is taught to examine texts in order to find additional meaning. In any text, one can find symbols to better identify meaning. Text can be a movie, book, game, or anything that tells a story. Symbols are tools an author uses so a reader can analyze a text to gain a greater understanding ofRead MoreAnalysis Of The Novel The Great God Pan 941 Words   |  4 Pagesmythology fell upon writers in England, and stories of the â€Å"unseen† became popular and abundant. This era was a time when the public started to seriously question their religious lives. Nevertheless, The Great God Pan was denounced by the public upon its publication for its focus on God as a powerful symbol for horror and sexuality. On the other hand, Wells’ The Island of Dr. Moreau was written as a satire, mocking Christianity and other forms of religion. In this short essay, I will expand on religious symbolismRead MoreIn the short stories in ‘The Bloody Chamber’, Carter is excessively interested in violent instincts’. How far do you agree with this view?967 Words   |  4 Pagesï » ¿In the short stories in ‘The Bloody Chamber’, Carter is excessively interested in violent instincts’. How far do you agree with this view? In the short stories in ‘The Bloody Chamber’, Carter is excessively interested in violent instincts, this viewpoint is correct to an extent but Carter has a feministic approach to her stories, which at some points more apparent. I find that her stories are in a literal sense driven by violent instincts but optimistic outlook of Carter that humans are capableRead MoreBeauty And The Beast By Michael Taussig950 Words   |  4 Pages Beauty and violence; words not typically associated with one another. In the stereotypical society, beauty is perceived with a positive connotation, while violence is viewed negatively. In other words, the terms are opposites, or incompatible. This was an idea that seemed to be understood. However, the book Beauty and the Beast contradicts what we know to be true. Michael Taussig, or the author, argues there is a relationship between the believed to be separate entities of beauty and violenceRead MoreBook Review of The Bloody Chamber and Ot her Stories by Angea Carter654 Words   |  3 PagesAngela Carter’s † The Bloody Chamber And Other Stories† is a collection of short stories written in the style of traditional fairy tales. The thrust of these stories is the objectification of women. Carter uses the fairy tale style as a way of exploring female power, desire and sexuality and adeptly uses the fantasy framework to explore feminist ideas. Throughout these stories, young females are portrayed as passive beings in the beginning of the stories but it becomes clear in each that passivityRead MoreKing Kong: A Cultural Snapshot949 Words   |  4 PagesClassic stories remain a classic because they convey a message which appeals to people of multiple generations despite changes in society. King Kong was released in print in 1932, a year prior to its release in Hollywood, as a part of the film’s advance marketing. The public of this generation easily accepted the story’s racist, colonialist, and sexist themes. Today, literary critics such as Cynthia Erb view the novel and film as representation of the early 30s and thus a resource to understandRead MoreCan Lord of the Flies (William Golding) be Classified as a Fable?2254 Words   |  10 PagesA fable, by strict definition, is a short tale conveying a clear moral lesson in which the characters are animals acting like human beings. A fable is intended to provi de moral instruction and its characters and scenes are drawn to suit this purpose. William Golding has referred to his novel, Lord of the Flies, as a fable. This essay will demonstrate that in the moral lessons it offers us and in the symbolic nature of its setting, characters and literary devices, the novel functions as a fable forRead MoreMajor Works Data Sheet: the Awakening by Kate Chopin1444 Words   |  6 Pages | | | |What are the time and place(s) in which story is set? What is the setting’s significance? | | | |The

Corporal Punishment (Spanking) - A Parents Choice Essay

Corporal Punishment (Spanking) - A Parents Choice The term corporal punishment means the intentional infliction of pain on the body for purposes of punishment. Spanking can be defined as the use of physical force aimed at causing children to experience pain but not injury, for the purposes of correction and control of youthful behavior(http://www.123helpme.com/preview.asp?id=32539). Spanking is a controversial topic and should not be taken lightly. As a child I was spanked when I did something wrong. My parents never left a mark on me what so ever. Being spanked taught me respect and kept me in line. The way my parents disciplined me, I think is an accepted method of punishment. I believe what parents do to their kids at home†¦show more content†¦Studies show that the age of the parents in relation to the child influences spanking behavior. The study shows that younger mothers spank much more frequently than older mothers; that younger children are spanked more than older children. The same study also says that higher levels of socioeconomic status are associated with the decreases in spanking. This study does not surprise me younger parents with less money undergo much more stress than older parents therefore they are more easily irritated by their children. Also spanking decreases as the parents age increases this could be because the parent is less motivated. The childs personality directly influences the parents ability to punish a child. Some children will only respond to physical punishment and others will respond to verbal punishment. If you spank your child there are eight steps to follow. (http://spankingthatworks.20megsfree.com/ ) 8 STEP SPANKING 1) Tell the child that he or she is going to be spanked. A spanking should never be spontaneous. 2) Tell the child the reason for the spanking, he or she may already know why, but its best that you verbally tell the child. 3) Let the child know that even though you are giving them a spanking you still love them. 4) Take the child into a private room such as a bathroom or bedroom, and close the door. A spanking should never be administered in front ofShow MoreRelatedSpanking a Child and Child Abuse1076 Words   |  5 PagesSpanking a child is not against the law in most places. However, parents who use it in their homes are being accused of child abuse. The Chicago Tribune published an article that urged readers to report child abuse when they become aware of it. In the article â€Å"Child abuse in plain View† the author describes spanking as a type of abuse that happens behind closed doors (â€Å"Child abuse in plain View†). Like most critics of corporal punishment, the author is trying to link spanking to abuse. The author`sRead MoreCorporal Punishment : A Form Of Discipline For Some Parents1551 Words   |  7 Pages Corporal punishment is used as a form of discipline for some parents. Corporal punishment can involve acts such as spanking, and can be viewed through a child’s perspective or an adult centered perspective. However, many parents are unaware of the drastic negative side effects that this form of punishment will have upon a child. These effects can be observed even if the child is spanked a small number of times as expressed by Murray Straus in Ten Myths That Perpetrate Corporal Punishment. AdditionallyRead More A Parents Choice to Empower or to Control Essay724 Words   |  3 PagesA Parents Choice to Empower or to Control I was raised in a home where corporal punishment was a way of life. My parents, both from a very strict religious background, felt justified in spanking and instilling fear in the name of God. They believed they were fulfilling their parental responsibilities; this is how they were raised by their parents, spanked to ensure respect and obedience. I can remember walking to kindergarten with tears in my eyes. As I walked to school, the tears would rollRead MorePhysical Discipline with Children1100 Words   |  4 PagesSpanking a child is not against the law in most places. However, parents who use it in their homes are being accused of child abuse. The Chicago Tribune published an article that urged readers to report child abuse when they become aware of it. In the article â€Å"Child abuse in plain View† the author describes spanking as a type of abuse that happens behind closed doors (â€Å"Child abuse in plain View†). Like most critics of corporal punishment, the aut hor is trying to link spanking to abuse. The author`sRead MoreCorporal Punishment in Children; Right or Wrong2663 Words   |  11 Pages{text:bookmark-start} Corporal Punishment with Children: Right or Wrong {text:bookmark-end} ? How properly to discipline a child is an age old question. Countless numbers of parents have had to make this decision. Many of these parents were raised in homes that used spanking as the main form of discipline. Most people can readily recount each time he, or she received a spanking for an offense, and even remember what kind of instrument was used to inflict the punishment. Whether it was a belt, aRead MoreSpanking Children2011 Words   |  9 Pages Who doesnt recall meeting a child who needed a good hard spanking? While children can be charming and delightful it is usually the two legged terror that gets noticed the most. Who hasnt heard or at least participated in some gossip or side conersation if yu will, regarding what should be done? Parents who have unruly children on a regular basis or even rarely are under the gun to address it. How they adress it is up for debate in todays more child friendlyRead More 5 Issues in Education Today Essay1929 Words   |  8 Pages Corporal Punishment Corporal punishment has been around for many years, even centuries. Many schools allowed corporal punishment, but is it necessary to us it in public schools? Can it be taken too far? nbsp;nbsp;nbsp;nbsp;nbsp;Up until the 60s and 70s, corporal punishment was a natural thing in schools and as court sentences. It wasn’t until the later part of the century that parents began to complain about the treatment of their children. Many parents believe that there are other optionsRead MoreEffective Discipline Without Physical Punishment3205 Words   |  13 PagesEffective Discipline without Physical Punishment Jennifer Bailey Westerns Governors University Effective Discipline without Physical Punishment Contrary to what generations of parents have experienced in their own childhood, physical punishment is not an effective method to use when rearing children. Parents should become educated in other strategies that are non-physical and more effective in curbing misbehavior in children. Positive effective methods would include using timeouts, reasoningRead MorePhysical Punishment Has Been Around For Decades. However,1822 Words   |  8 PagesPhysical punishment has been around for decades. However, many falsely believe that the use of this parenting style has slowly faded away. Unfortunately, it has become more common and ranges from minor to severe depending on the parent. This method of correction has been passed down through generations and the history of it is a major contribution to the problem. Just because it happens does not mean it is acceptable. The desired results are rarely achieved and the children are negatively impactedRead MoreDoes Childhood Background Reflect A Valid Diagnosis Of Mental Or Physical Problem?2502 Words   |  11 PagesAnother important point to consider is discipline towards kid such as spanking. Side A believes that corporal punishment in a kids childhood background does cause mental and physical problems to their adult life. Bonnie Rochman who did a study on 20,000 people in the United States who were twenty years or older who experienced corporal punishment. The article then, explains that 1,258 of the people experienced corporal punishment while, 18,349 rarely or never experienced it. Rochman stated in the article

Marco Ophthalmic Swot Analysis - 1467 Words

Marco Ophthalmic, Inc. is a private organization in Jacksonville, FL that provides both products and services for the Eye Care Professional (ECP). The products available for the ECP include diagnostic tools and equipment required to run a successful vision care practice. Professional growth and enhancement provided by the organization for the ECP include product training and education. For 50 years, the organization continues to grow and maintains market share. Their success can be attributed to the quality of products and the value-added services. As important as the products and services you offer your customers, a successful business should have a similar strategy for team members. Team members play a vital role in an organization,†¦show more content†¦L., 2012). Marcos unique organizational structure of direct sales team members and distributors requires the business to have a well thought out training plan for both internal and external, distributor team members. All t eam members, including distributors are trained on the products, as well as on the company’s core values. Training on the organizational core values is particularly important when you are managing distributors. Why? Distributors must have a reason to believe in the business and business objectives. Training distributors and sharing your organizational values supports the distributor alignment to the business. This is crucial for the success of the distributor in selling your products. The second strength mentioned during our interview was, team member empowerment. Empowerment is the authority given to an individual, group or team to make decisions. The benefits of empowerment include self-efficacy, skill development, leadership development, job satisfaction and organizational commitment (Namasivayam, Guchait and Lei, 2014). At Marco, team members are encouraged to make strategic decisions that will enhance the customer experience and ultimately support the growth of the business. As it relates to goal-setting, team members are encouraged to set individual goals. After 50 years in the

Many people dont realize the fact that the Ku Klu Essay Example For Students

Many people dont realize the fact that the Ku Klu Essay KKKx Klan (which can be abbrievated to the KKK) affects their present day life greatly. This group of poeple have very perverse beliefs and have performed many tainted illegal acts in the past. These people follow the idea that anyone of no Aryan race is not acceptable. These poeple have gone as far as killing people or small acts such as creating obstacles that are very hard to get around for the people they dislike. Whos to say these people have stopped? RAcists acts still take place today however the media doesnt find these acts as important as other headlinging stories. Racism is not just an issue that should be pushed asdide as an article of inconsequentiality. These people are not only crude and hateful but they try to make themselves look as if they don;t do anything wrong. Through the eyes of theswe white people these haneous acts are perfectly normal. These people are breeding a generation of hatful people. In 1920 this group of people expanded to more than two million members. All causing havoc at this time because of the big segration issues that were occuring. They often resovled to violence burning crosses, torturing and mudereing those who they opposed. By 1944 however the mass population had decease but not for too long. 1946, the Klan has risen up again. This time they were trying to fight against the people who were pro-civil rights movements.

Auditing for Prevention and Detection-myassignmenthelp.com

Question: Discuss about theAuditing for Prevention and Detection. Answer: Introduction Lehman Brothers was US` investment bank and indulged in providing financial services. This firm was being established in 1850. Lehman Brothers` failure cause global financial crisis. As in the year 2008, Lehman Brothers declared itself as insolvent. This reports is based upon the issues of auditing which were associated with the firm`s collapse (Shah, A. 2013). As the report discusses about the important terms such as- auditing and assurance services. Beside this auditing standards are also described in the report. As these standards frameworks some guidelines to be followed by the auditor so that unbiased audit reports could be presented by him or her. Issues identified in auditing process which led for the development of ASA 701 are also discussed in the report. What is Audit and Assurance Service? Audit can be defined as an official inspection and confirmation of transactions, records and accounts, specifically of financial accounts to make certain passivity to requirements. The main purpose of the audit is to verify performance, conformance or compliance. Certain audits have special administrative purposes like auditing documents, performance, risk or following up on completed corrective actions(Spencer , 2011). Generally there are two types of audit which are internal audit, carried out by the internal audit department of the organization; external audit carried out by the audit firm. Assurance services can be defined as self-governing professional services which supports decision makers by enlightening the quality of information, or its perspective( Thibodeau Freier, 2013). Assurance services and audit are both different terms as the assurance services is wide in nature. Assurance services incorporates audit of financial statement and attest services. What are auditing standards? Guidelines followed by the auditors while inspecting the financial statements as well as other data are known as auditing standards. Standards of auditing are publicized by authorities like- AICPA, IIA and GASA. The standards of auditing confirms the consistency, verifiability of actions and accuracy in the report of audit prepared by the auditor (Flores, C., 2011). In addition to this, auditing standards comprehends objectives for the auditors, interrelated with requirements and solicitation as well as other material which instructs for financial statement`s audit. Auditing standards states that the auditor should retain adequate skill to carry out its professional training and the auditor should also take care of independency while preparing an audit report of a listed firm. As the auditor`s report shall be free of any biasness and influence so that fair and adequate report of audit could be prepared by the auditor(Spencer , 2011). Beside this, the standard of auditing also guides the auditor to discharge due professional care while the process of audit is being going on till to the completion and preparation of the audit report. ASA701 Communicating Key Audit Matters in the Independent Auditors Report: Key maters. ASA 701 is an auditing standard which was being developed to safeguard the independency of the auditors. As in the influence of the firm the auditors used to manipulate the audit report. In addition to this, earlier, the important facts or the information which auditor come to across while making the audit report was also not used to be disclosed in the audit report( Porter, Hatherly, Simon, 2014). Therefore, the new auditing standard was being developed so that the key matters of the audit report could be communicated to the members of the organization and to the stakeholders of that organization as well. The term KAM can be elaborated as Key Audit Matters in the professional judgment of the auditors were of most significance in the financial statement`s audit of a listed firm of the current period. The key matters of an audit are selected from those matters which obliges for significant auditor attention to perform the audit (Flores, C. 2011). The key maters are required to be communicated through the audit report as this audit standard supports the independency of the auditor.Following aspects are required to be determined for involving key matters in the audit report- Areas of risk related with misstatement of financial statements Estimation of vagueness and the auditors` substantial judgments. Substantial transactions or events. In addition to this, the key matters which are communicated in the audit report should be explained that why these are considered as significant for the report of audit, how the key matters are addressed in the report, as well as the associated disclosure shall also be mentioned in the independent audit report. Auditing Issues Surrounding the Collapse of Lehman Brothers. As per the general auditing principles it is obligatory to disclose the relevant and fair information in public in the report of audit of a listed firm. But in the case of Lehman Brothers, the auditor firm did not discharge their duties in proper manner. As various facts were being obscured by the auditing firm which put an impact on the stakeholders as fair information was not being given to them in the audit report. Repo 105 was used for the accounting of Lehman Brothers which put question on the fairness of auditing as the audit firm produce superior results through this accounting system and the real facts and information was manipulated and concealed as per the interest of the firm. Failure of bank was one of the reason of using Repo 105, but the auditor concealed this information and this can be treated as one of the issue associated with the collapse of the firm i.e. Lehman Brothers (Shah, A., 2013). Through Repo 105 the transactions were recorded in such way that stated liqui dity for the company. Another issue linked with the collapse of Lehman Brothers is that, the auditors also disregarded the signs of mismanaged accounts` books of the Lehman Brothers. As the sign of mismanagement and fail of the accounting books was given by the internal audit department of Lehman Brothers but these indications was not considered by the external auditors of the firm and this inconsideration also led to the preparation of vague audit report and it also led to create slipup in the financial market. Beside this, use of impaired liquidity assets by the firm (Lehman Brothers) was also obscured by the external audit firm in the audit report (Elliott, L., 2011). Lehman Brothers, used impaired assets the impaired assets were recorded in the financial statements of company, in their carrying value that go beyond their fair value. Concealing the fact of usage of impaired liquidity asset put negative impact on the investors as they achieved higher loss due to this information. Hence this auditing issues can also be regarded as the reason for the collapse of the firm- Lehman Brothers. Relate the issues that led to the development of the new auditing standard ASA701 Communicating Key Audit Matters in the Independent Auditors Report. The issues related to the collapse of Lehman Brothers led to the development or change as the new auditing standard was developed i.e. ASA 701. This standard implies that Key Audit Matters should be disclosed and communicated in the independent auditor`s report( Perler Howard M. , 2010). This standard was developed for the reason that useful information which could be helpful for the business organization as well as for the stakeholders shall be disclosed in the audit report. Some of the issues that were taken as a reason for the development of auditing standard ASA 701 are given below: Use of repo 105- Lehman Brothers used Repo 105 for maintain the accounting transactions. This was used by the firm to produce better results as in real the result were not good. Repo 105 can be defined as a trick of accounting through which short term loan of company can be classified as sales and the company can consequently use the cash income from assumed sale in order to reduce its liabilities. But the use of this technique i.e. Repo 105 was not disclosed by the Lehman Brothers to the rating agencies, government, to its investors and own board as well( Perler Howard M. , 2010). It is analyzed from the case study of Lehman brothers that the one of the senior official of the company make warning about the use of repo 105 as when this information will be disclosed in the public or if the public will find out that the company is using repo 105 to manage its accounts then it will escalate reputational risk.In the audit process conducted by Ernst Young, this case was ignored and disc losure of this situation was also not done(Well, 2017). This is against the GASA principles. As the auditor must disclose the relevant information in the audit report so that it can be identified that the accounting system is properly used or not. Lehman Brothers used this Repo 105 but this case was ignored in the audit therefore this can be an issue for the collapse of firm. The firm was using impaired liquidity assets, which had less cost but this situation was also being ignored by the Ernst Young while audit process, as this was an important information to be disclosed in the audit report(Obana, 2015). But this situation was concealed by the audit firm instead of being communicated to the organization`s members as well as to the stakeholders. It is obligatory for the company as per the standards that in case impaired assets are being used by the company then carrying amount of those assets should be decreased from the recoverable account. But in the case of Lehman Brothers, the use of impaired assets was not disclosed and the assets were presented in the financial statements in a carrying value that exceed their fair value. This situation led to the users of financial statements to make wrong decisions. One of the other issue responsible for the development of the auditing standard was that- the external audit firm i.e. Ernst Young was informed about the mismanaged accounting books of Lehman Brothers, but the auditor did not consider this information and the audit was done ignoring this information(Elliott, L. 2011). Concealing the information in the audit report resulted as loss to the stakeholders especially to the investors. As the investors achieved loss due the audit report presented by the auditor in the dependency of the firm. Issues discussed above can be treated as reason for the development of the new auditing standard. As through the above situations it can be analyzed that the auditor firm or the external auditor did not discharged their duties and responsibilities in fair way. As the influence of the organization or some other reason put an impact on the independent auditor`s report(Davies, J. 2014). The auditor obscured the facts and information which was important to be disclosed in the report of audit. Therefore this new auditing standard was developed with an objective to enhance the relevance and value of the report of audit. If ASA701 Communicating Key Audit Matters, standard were there at the time of collapse of Lehman Brothers, then what are the matters that auditor will disclose in his audit report. In this part of the report key matters which should be disclosed at the time when the ASA 701 was implemented in preparing audit report for Lehman Brothers when the firm was going to collapse are being discussed. In case, ASA 701 was there then the key maters that should be communicated in the audit report by the auditor are as follows- Lessened liquidity assets- The auditor should disclose the use of impaired liquidity assets by Lehman Brothers in his audit report( Thibodeau Freier, 2013). This was a key matter as the use of lessen liquidity assets could influence the stakeholders of the firm. Users of financial accounts used to make decisions about different aspects after considering the statements of the company. Therefore the financial statements should be presented in fair way so that the stakeholder may take correct decisions. Repo 105- Lehman Brothers used Repo 105 for the accounting transactions. This was also one of the key matter that could be disclosed in the audit report of Ernst Young. As this information is crucial to be communicated in order to make aware the members of organization and the respected stakeholders that to maintain the accounting transactions or to record the financial transactions Repo 105 is being used which influences the results and can change the real results as per the requirement( Perler Howard M. , 2010). This situation should be considered by the auditor and included in the audit report of the firm so that they could be informed about the vague facts presented through Repo 105. Mismanaged books of accounts- Internal audit department gave signs to the external auditor that the books of accounts of Lehman Brothers were mismanaged and the accounting transactions were not properly recorded(Spencer , 2011). This is also a key matter to be disclosed in the audit report of Lehman Brothers. The auditor should communicate this key matter to the members of top management of the firm. So that the firm shall consider this case as important issue which could affect the business and other aspects as well. One of the reason to consider the mismanagement of accounting book as to be disclosed as the key matter in the audit report is that books of accounts which are not properly managed or the transactions are not recorded properly can also put an impact audit report( Porter, Hatherly, Simon, 2014). As the missing relevant information from the failed books of accounts leads towards preparation of the audit report which is unable to present improper information. Conclusion This report draws a conclusion that auditing plays an important role in inspecting and verifying the accounting transactions of listed firm. Auditor verifies the transaction system of accounts and prepares a report based on that assessment. This audit report provides a basis to the business organization to ascertain the economic condition and other aspects as well. General principles formed for the auditing should be followed by the auditors as it outlines the audit practices and lays emphasis on preparing and presenting a fair and adequate audit report without any influence. In addition to this it is also concluded that the auditors shall involve KAM in their audit report so that key matters of the audit shall be communicated to the top management or to the important stakeholders. References Amadeo, K. (2016). 2008 Financial Crisis: Causes, Costs and Could It Reoccur? thebalance. Chatterjee, P. (2015) Ernst Young Pays $10 Million To Settle Lehman Brothers Audit Failure Lawsuit, CorpWatch. Davies, J. (2014). Global Financial Crisis What caused it and how the world responded,Canstar. Elliott, L. (2011). Global financial crisis: five key stages 2007-2011, the guardian. Flores, C. (2011) "New Trends in Auditor Liability",European Business Organization Law Review (EBOR),vol. 12, no. 3, pp. 415-436. Norgren, C. (2010). The Causes of the Global Financial Crisis and Their Implications for Supreme Audit Institutions, Riksrevisionen. Perler, J., Howard M. , S. M. (2010). Financial Shenanigans: How to Detect Accounting Gimmicks Fraud in Financial Reports,. McGraw Hill Education. Porter, B., Hatherly, D., Simon, J. (2014). Principles of External Auditing. Wiley. Thibodeau, J., Freier, D. (2013). Auditing and Accounting Cases: Investigating Issues of Fraud and Professional Ethics. Wiley. Obana, J. (2015, 10 30). How to Determine and Communicate Key Audit Matters (KAM) in the New Auditor's Report. Retrieved from www. linked.in: https://www.linkedin.com/pulse/determination-communication-key-audit-matters-new-obana-cpa-mba Shah, A. (2013). Global Financial Crisis, Global Issues. Spencer , K. H. (2011). The Essential Guide to Internal Auditing. Wiley. Wiggins, R. Z., Bennett, R. L., Metrick, A. (2015). 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