Things Fall Apart :: essays research papers fc

In Chinua Achebes novel Things Fall Apart the life of a man named Okonkwo and the folk music of Umuofia is depicted in three chapters which each represent a significant era in the family line. In the first chapter, Achebe describes the life of the native African tribe before the coming of the white man. This chapter enables the reader to understand and respect the life of the Igbo. The second chapter describes the beginnings of colonialism and introduction of the white man. Suddenly, the Igbo way is questioned. The natives lives are turned upside mountain as they search for a way to understand the new religion and laws of the Europeans. The third chapter describes the effect of colonialism on the Igbo tribe. This section explores the many ways which the Igbo people enterprise to adapt to the new society. From the suicide of Okonkwo to the abandonment by other tribe members, it becomes apparent how difficult it was for the Africans to adjust to the change. Joseph Conrads Heart of sinfulness tells of an English man named Marlow and his journey into the Congo and interest in a colonist named Kurtz. Marlow is the narrator of the novel. He describes the natives and the Europeans from a somewhat objective view. He finds colonialism questionable, that also cannot relate to the Africans. Kurtz is the antagonist who exploits the Africans to make money by selling ivory and subsequently goes insane. Both novels depict the colonization of Africa, but each has a markedly different perspective on the Africans lives which were irreparably altered when Europeans came to conquer their land and convert them to Christianity.Conrads descriptions of the Africans are inherently racist. The textbook is full of demeaning descriptions and negative thoughts about the blacks. The thought of your remote kinship with this wild and passionate uproar. Ugly" (Conrad 32) Conrad refers to the natives as niggers and compares their learns to animals. He was there below me, and, upon my word, to look at him was as edifying as seeing a dog in a parody of breeches and a feather hat, walking on his hind legs. (Conrad 33) These passages and attitudes toward the natives promote the view of the natives during colonialism of Africa in the way that Achebes district commissioner sees it, He had already chosen the title of the book, after much thought The mollification of the Primitive Tribes of the Lower Niger.

Lady Macbeth Seduces Macbeth In Many Ways Essay -- essays research pap

gentlewoman Macbeth does everything in her power to seduce Macbeth. She comforts him and gives him strength after Duncans murder. She emasculates and belittles him to convince him to commit the murder. She covertly seduces Macbeth by her suicide. When Macbeth finds out about her death he loses all hope and gives up on life.     After Macbeths deed was done, he would of succumb to his guilt if it werent for brothel keeper Macbeth. His paranoia started to get the best of him. Macbeth thinks that someone has heard him commit the crime, " I have done the deed, didst thou not hear a noise? " (Macbeth, II, II, 15) The good peeress tells Macbeth she heard nothing, she is comforting him by reassuring him that no one heard a thing, " I heard the owl scream and the crickets cry. Did not you speak? " (Macbeth, II, II, 16 - 17) Macbeth feels guilt and pity for what he has done to Duncan, he looks down on himself. looking at his hands " This is a sorry sight. " (Macbeth, II, II, 22). Lady Macbeth comes through and shows Macbeth comfort and strength in the first place he loses it and does something irrational. When Macbeth returns to his chamber after killing Duncan and Lady Macbeth learns that he didnt carry out the end of the plan, the reader sees a moment of panic in Lady Macbeth. She quickly regains her composure, though, and decides that she must complete the plan herself. She says to Macbeth, "Give me the daggers. The sleeping and the dead are but ...

Foreshadowing in William Faulkners A Rose For Emily Essay -- A Rose Fo

In the story, A Rose for Emily by William Faulkner the chronology of the story is chopped into pieces and moved around for the readers viewing pleasure. William Faulkner demonstrates how full-grown away part of the ending before the story has begun obligates the reader to investigate the story in order to get the rest of the ending, all the while make suspense for the reader, and building the storyline. The story starts off with part of the ending, which pulls the reader into the rest of the story.Right from the start, the story pulls the reader into whats going on by good-looking them the line, When Miss Emily Grierson died, our whole town went to her funeral (pg.130) That line makes the reader think to themselves Why would an ideal town go to a funeral? And its true, what makes Emily Grierson so important that the entire town would go to her funeral? Maybe she was a magic healer or something, the reader just doesnt know. And because the reader doesnt know, human nature comes in to incline and curiosity takes its toll on the reader pushing them to read more. Then, further down ...

Alexander Calder Essay -- essays research papers

Alexander Calder was one of the most innovative and original American artists of the twentieth century. In 1926, Calder arrived in Paris and devoted himself to a project called the Circus that occupied him for over five years. This contains characters and animals made out of wire, bits of cloth, woodwind, cork, labels, bits of scrap metal and pieces of rubber. Calder transported his little sign of the zodiac in suitcases and performed it for his friends. During his performances, Calder invented ways to simulate the flight of birds These are little bits of white paper, with a hole and slight weight on each one, which flutter fine-tune several variously coiled thin steel wires which I jiggle so that they flutter down like doves (Alexander Calder, An recital with Pictures New York Pantheon, 1966, p.92) The Circus is the laboratory of Calders work in it he experimented with new formulas and techniques. "By 1930," sculptor historian Wayne Craven has written, Calders "Cir cus had become one of the documentary successes of the art world of Montparnasse, as well as among the Paris intellectuals. Jean Cocteau, Fernand Leger, Joan Miro, Piet Mondrian, Jean Arp... and others were captivated by it, whereas none of them paid much attention to Calders wood carvings. Such encouragement doubtlessly led him to try more serious experiments in wire sculptures." During this same period he developed wire figures such(prenominal) as Josephine Baker, The Negress, and the Portrait of Edgar Varese, w... Alexander Calder Essay -- essays research papers Alexander Calder was one of the most innovative and original American artists of the twentieth century. In 1926, Calder arrived in Paris and devoted himself to a project called the Circus that occupied him for over five years. This contains characters and animals made out of wire, scraps of cloth, wood, cork, labels, bits of scrap metal and pieces of rubber. Calder transported his little theater in su itcases and performed it for his friends. During his performances, Calder invented ways to simulate the flight of birds These are little bits of white paper, with a hole and slight weight on each one, which flutter down several variously coiled thin steel wires which I jiggle so that they flutter down like doves (Alexander Calder, An Autobiography with Pictures New York Pantheon, 1966, p.92) The Circus is the laboratory of Calders work in it he experimented with new formulas and techniques. "By 1930," sculptor historian Wayne Craven has written, Calders "Circus had become one of the real successes of the art world of Montparnasse, as well as among the Paris intellectuals. Jean Cocteau, Fernand Leger, Joan Miro, Piet Mondrian, Jean Arp... and others were captivated by it, whereas none of them paid much attention to Calders wood carvings. Such encouragement undoubtedly led him to try more serious experiments in wire sculptures." During this same period he developed wir e figures such as Josephine Baker, The Negress, and the Portrait of Edgar Varese, w...

Postmodernist vs. Modernist vs. Personal position on Faith :: essays research papers

Topic 1 Postmodernist vs. Modernist vs. Personal position on FaithTopic 2 What did you learn in this class? create verbally By Angela GonzalezTopic 1 Postmodernist vs. Modernist Position on Science and ReligionWe have all at one time or different asked ourselves the question Should I believe this? Doubt is simply an some other part of the human experience. When we doubt our faith, however, it stack be more crucial than many other doubts we have, because of the believed consequences that come along with it. Where there is doubt people begin to look for ways to rationalize whether what they believe is more right than what someone else believes. Science and religion, dickens means in which knowledge is obtained from the world, are used by post modernist and modernist to justify faith or lack there of. In this paper I will discuss the contradicting views postmodernist and modernist have on the separation and overlap of scientific knowledge and religious knowledge. Whether you believ e one view over the other boils down to personal choice and acceptance of the idea based on ones experiences, therefore I will also discuss my opinion on the connectivity among faith, rationality, accusative truth and ways of gaining and testing the truth of knowledge for both science and religion. Lets begin by discussing the Enlightenment thought of modernists that solo that which can be scientifically measured and quantified and reasoned through logically is true knowledge. We can have true knowledge about time in space, fitness, age or the power of your punch, but what, about things that can not be scientifically measured such as beauty, morals, and other matters of the spirit. It does not attend right to say that we can not obtain true knowledge of such things so we have inherited the modernist belief that such things are matters of opinion. In other words, they are subjective matters having only to do with the individuals experiences and preferences.This modernist scientifi c mindset is devastating for religious beliefs. Though some religious beliefs can be empirically tested there are others, such as the nature of God and justification by faith which cannot be weighed or measured. These primordial elements of religious knowledge can therefore be said to be matters of personal opinion, or worse figments of imagination. This contradicting relationship between the scientific and religious accession of knowledge can have a tragic effect on a believer of faith because it is very easy for the individual to get caught up in providing for themselves the kind of impossible logical certainty for their beliefs a nonbeliever might demand.

Sleep Disorders Essay -- essays research papers

4) SLEEP DISORDERS, SYMPTOMS, KNOWN CAUSES AND TREATMENTS.     Sleep is something that every person needs. Without rest period a normal years task seem never ending. Your body suffers and you suffer even people who come in contact with you suffer too. Without sleep you can function normally. Your moods transmute changing your personality, changing how you perceive the world.      The average adult needs eight hours of sound sleep each night. However most adults get between quintuple and six hours, " (Encarta 1998).This one or two hours that is lost each night can have an affect on our health and our lives. "The single element that ties sleep disorders together is that they disrupt in one or more parts of out sleep cycle."(Zimbardo pg.98) The three types of sleep disorders are insomnia, narcolepsy and sleep apnea. These disorders make a nights sleep sometimes hard and mostly uncomfortable.      " Insomnia is a disorder that involves insufficient sleep." (Zimbardo pg. 98) Insomnia is the most common sleep disorder. Insomnia occurs on a regular basis." Its symptoms are continuing inability to fall asleep quickly, frequent arousals during sleep or early morning awakenings."(Zimbardo pg.98) Insomnia can be caused by stress or constant worrying, aesculapian problems or mental disorders. The lack of sleep can cause depression and heart disease. In most cases adults suffer from insomnia....

Role Reflection In Nursing

The nursing role is rapidly evolving as nurses are tasked with an even wider range of wellness heraldic bearing responsibilities. In hospitals, clinics, and care centers around the US, nurses are rising to meet these challenges. Todays nurses are not just caring for the sick they are changing our precise notion of modern medicine and health care delivery. A nurses role is about being a more effective member of the health care team and navigating clinical systems. No matter the work environment, all nurses are members of the profession which implies accountability for ones passkey image (Essentials ofBaccalaureate Education, 2008, p. 9). In my career as a nurse, my role has changed many times and began as a provider of direct patient of care. My primary job after graduation I worked as a bedside nurse on an Orthopedic and Rehabilitation floor in the hospital setting. As rehabilitation staff nurse, provided direct care and education on self-care including serious medication admin istration, sleep, nutrition, safety, bowel and bladder care. I championed perform activities that served to maintain and restore function and prevent complications.I feel lucky to cast off had this opportunity as my first nursing role because of the team-based care coordination and the value based on each member of the interdisciplinary team. As I transitioned from a novice nurse to a more competent nurse, I gained perspective from planning my own actions based on critical thinking and organization. It was during this time that began to think of long-term goals pertaining to my nursing career. aft(prenominal) two years, I was approached to train to cover the Care Coordinator role for the department of Orthopedic during her times of vacation and medical eave.This quickly turned into a extensive time invest for me and took me away from direct bedside nursing. My main responsibilities were to assist the patient with transitions between healthcare settings, identify skills and expe ctations of patients and families in regard to the rehabilitation process and help ensure the patient and his or her family understood their healthcare benefits. Enjoyed learning all the aspects of coordinating patient care for this population. Five years passed and accepted the Manager position of the Orthopedic Institute.It served me well to rely on the team based environment when I began honing my skills as a leader. I quickly learned to supervise and representative to staff, manage a million dollar budget and remain visible and open to staff. Served my clinical area by developing, implementing and evaluating systems that ensure cost effective, quality patient care. There were times as a manager that my priorities were to maintain multiple projects in alignment with our vision. Communication was al slipway a must for an effective relationship with staff and providers.As a ember of the profession of nursing I have been able to trade part in many activities. Have joined professio nal organizations. I have enjoyed participating in research for our Orthopedic population. Have participated in lodge events. It is very rewarding to be able to serve the community in which you live. Throughout my career, as a direct care provider and currently a manager of a patient care center, I have always insisted that patients and families come first and my primary goal is to provide safe quality care.A professional nurse must have the ability to think critically, mufti-task ND prioritize appropriately. I am truly honored to have chosen a profession that has allowed me the opportunity to grow and become the successful leader I am today. Am fully committed to furthering my education and focusing on the next chapter in my career. Nursing has become more complex in ways that could not have been imagined a generation ago. Now there is an imperative to be not just a great caregiver but a great innovator too. The demands of health care are calling for a new generation of thinkers w ho want to be agents of care innovation.Nursing is a profession for the intellectually curious, lifelong learner. However, as nursing continues to evolve with new hospital structures, wonderful technology, and political challenges, the heart of the profession stays the same. Whatever the tools and technologies, the job of the nurse entrust remain caregiver and advocate for the most sick and vulnerable members of our communities. The field is growing and so are opportunities for nurse practitioners, DNA and PhD nurses, nurse educators, nurse-anesthetists, and nurse researchers.Great nurses take what they learn in their formal education and apply it to make surprising, difficult, life-or-death decisions every day. Feel that is why nursing education has such a essential role to play. Getting an advanced nursing degree means preparing myself for a changing world of possibility. With the right skills and knowledge, the next generation of nurses can make a bigger difference for patients, communities, and our national health care environment. I am glad to be part of such a rewarding profession.

History of the Soft Drinks Industry Essay

Introduction easy inebriations, more popularly known as sodas, are non exactly referred to as items of necessity. People tail live without sodas. In fact, people might be safer if they dont inebriation velvety drinks so much. And yet, soft drinks somehow make it to the top of the list of items bought by the fair(a) consumer. Why is this, exactly? Well, for wholeness thing, sodas are delicious. They stand between liquor and succus. Those who are too young to drink beer just now think that fruit juice is too juvenile can order sodas. Those too old and are putting their wellness at risk by drinking hard drinks can enjoy soft drinks and no one would think any less of them.In short, sodas have a mass appeal. They carry an im term with them an image of a person with a comfort fitting flavorstyle. This report entrust take a look at the soft drink patience as a hearty and particular diligences leading, brief history and description of the industry will show industry character istics, tr lay offs, changes, and competitive factors will give recommendations for the companies within the industry. My experience of the consumer and the seller of the soft drinks, allowed me to say, that the soft drinks industry deserves attention.It is one of the biggest, fast growing, perspective, and profitable industries in the conception. It takes a big place in our life as consumers. muted drinks, and such big companies as coca plant green goddess or PepsiCo, are widely spread e reallywhere and available in any country in the world. I decided to choose the soft drinks industry, because it illustrates the great product and distri entirelyion and heavy business innovations, such as product development, franchising, and mass addressing, as sound as the evolution of consumer tastes and cultural trends.History of the soft drinks industry. The soft drink industry began in the mid-1880s with the creation of syrup that was mixed with carbonate water and served at drug store lunch counters. During the early years, soft drinks were sold only in stores that could provide fountain service. Increasing distribution was tied to building superfluous syrup manufacturing plants. With the advent of bottling machinery, soft drinks began to be distributed beyond the town drug store. The first bottled soda water or soft drink in the linked States was produced in 1835.These drinks were called soft drinks, only to separate them from hard alcoholic drinks. This drinks do non contain alcohol and broadly specifying this potables, includes a variety of regular carbonated soft drinks, diet and caffeine free drinks, bottled water juices, juice drinks, sport drink and even ready to drink tea or coffee packs. So we can say that soft drinks mean carbonated drinks. Charles Aderton invented Dr Pepper in Waco, Taxes in 1885. Dr. John S. Pemberton invented Coca green goddess in Atlanta, Georgia in 1886. Caleb Bradham invented Pepsi gage in 1892, and so on.Bigger and smaller companies appear on a soft drink grocery since the greatest profitability (advantage) and cheap manufacturing of this industry was disc everyplaceed. Today, soft drink is more favorite refreshment drink in the United States then tea, coffee, juice and etc. Soft drinks industry everyplaceview in the United States and creation Wide. The soft drinks industry is very big, very visible, bluely concentrated, and appears to have been very profitable. The leaders of the Soft Drink Industry are the Coca- dope Company, PepsiCo, Cadbury Schweppes/Dr. Pepper Snapple, Cott potbelly., and guinea pig crapulence Corp. There is also noticeable Asian and European influence on a world merchandise of the soft drinks. Leading companies have vainglorious armorial bearing in the soft drink industry. This industry is well established already, and it would be difficult for any political party to take down or exit successfully. According to the Coca- Cola yearly report (2009), it has the or so soft drink sales with 24. 4 billion dollars. The Coca-Cola product line has several popular soft drinks including Coca-Cola, Diet Coke, Fanta, Barqs, and Sprite, merchandising over 400 drink chumps in about 200 countries.PepsiCo is the next top competitor with soft drink sales grossing 21 billion dollars for the cardinal drink subsidiaries, PepsiCo crapulences North the States and PepsiCo International (yearly report PepsiCo Inc. , 2009). PepsiCos soft drink product line includes Pepsi, Mountain Dew, and Slice which make up more than one quarter of its sales. Cadbury Schweppes/Dr. Pepper Snapple had soft drink sales of 6 billion dollars with a product line consisting of soft drinks such as A&W Root Beer, Canada Dry, and Dr. Pepper (annual report Cadbury Schweppes/Dr. Pepper Snapple, 2009).Cott Corporation is one of the worlds biggest soft drinks manufacturers, but has a low profile among consumers because it specializes in producing private label products for sellers. In fact the company is cosmicly credited with revitalizing the super securities industry place own-label boozing trade during the early 1990s, scoring a good turn of Copernican goals including the introduction of Sams American Choice cola by Wal-Mart and Sainsburys Classic Cola in the UK. Currently, its small portfolio of consumer brands includes RC Cola, Stars & Stripes and Red Rain. bailiwick Beverage Corp.(National Beverage) develops, manufactures, marts and distributes a portfolio of beverage products throughout the United States. The Company develops and sells flavored beverage products, including a selection of flavored soft drinks, juices, waters and energy drinks. Its brands include Shasta and Faygo, each of which has over 50 flavor varieties. The Company also maintains a line of flavored beverage products for the wellness-conscious consumer, including Everfresh, Home Juice and Mr. Pure deoxycytidine monophosphate% juice and juice-based products The Coca-Cola Company accounted for 26.5% of the worlds soft drinks sales and 43 % of the US market, almost double the amount of rival PepsiCo, which holds a 13. 4 % role of the world market and 32 % of the US market. both companies appear to be keen to extend their focus by expanding into growing segments for soft drink production. In the last month Coca-Cola has revealed it is extending began researching benefits of Chinese herbal remedies to target growing demand for nutritional benefits and functionality in their products. PepsiCo at the comparable time has increased its focus in production of non-carbonated beverages with juice in particular becoming important to its operations.Both companies remain significantly ahead of their rivals, reflecting the increasingly competitive nature of the soft drinks market. Cadbury Schweppes/Dr. Pepper Snapple takes 15 % of the US market and 3 % of the world market. Cott Corp takes 5 % of the US market. National Beverage Corp. takes 2% of the US market. (Table 1. The top 10 Soft Drinks Companies in 2008 by world-wide market share, Page 21 and Table 1. a. The Top 10 Soft Drinks Manufacturers in the US in 2008 by volume, Page 21 ). At the core of the beverage industry is the carbonated soft-drink category.The dominant players in this area (Coca Cola, Pepsi, and Cadbury Schweppes/Dr. Pepper Snapple) own virtually all of the North American markets most widely distributed and best-known brands. (Table 4 Top Ten Soft Drinks in the US, 2009. Page 24) They are dominant in world markets as well. These companies products occupy large portions of any supermarkets shelf space, often covering more territory than real food categories like dairy products, meat, or produce. Coca-Cola and PepsiCo keep to dominate the soft drinks market in 2010 accounting for more than a third of global sales in the sector, according to market analytic.Soft drinks industry description. The market size of this industry has been changing. Soft drink consumption has a market share of 46. 8% within the non-alcoholic drink industry. (Table 2, 2. a. Global Soft Drinks trade Segmentation % Share, by Value, 2008, Page 21). Total market value of soft drinks reached $367. 2 billion in 2008 with a market value forecast of $377. 1 billion by the end of 2010. In 2013, the global soft drink market is forecast to have a value of $456. 3 billion. The 2008 soft drink volume was 325,367. 2 million liters (Table 3 Global Soft Drinks market Volume liters million, Page 22).In 2013, the global soft drink market is forecast to have a volume of 474 million liters, an increase of 22. 3% since 2008. Soft drink industry is lucrative with a potential for high profits, but on that point are several obstacles to overcome in order to capture the market share. Carbonates sales proved the most lucrative for the global soft drink market, generating 46. 8% of the total value. However, the volume of the U. S. carbonated soft drinks declined -3% in 2009. That compares to 2. 3% decl ine in 2008 a 0. 6 % decline in 2007 and a -0. 2% decline in 2006. Top companies, Coke and Pepsi, generated similar results last year.Coke carbonated soft drinks volume was down -3. 1% and PepsiCos was down -4%. Both lost share. Dr. Pepper Snapples carbonated soft drink volume was down -1. 3%. (See below, Table 5 Carbonated soft drink Companies in the U. S. for 2009). In the U. S. , with the carbonated soft drinks decline accelerating, early(a) categories are slowly growing. (For example, bottled water and energy drinks market. ) The Coca-Cola Company accounts for 22. 6% of the global soft drink markets volume. Supermarkets and hypermarkets distribute 48. 4% of the global soft drink markets volume. Table 5. Carbonated soft drink Companies for 2009.Top -10 CSD Companies in the US for 2009 2009 2009 2008 2009 2008 Rank Companies Market Share Market Share Share Change Cases (millions) Cases (millions) Volume% Change 1 Coca-Cola Co 42. 7 42. 8 -0. 1 4107. 6 4241. 1 -3. 10% 2 Pepsi C o 30. 8 31. 1 -0. 3 2960. 4 3082. 8 -4. 00% 3 Dr Pepper Snapple 15. 3 15 0. 3 1471. 2 1491. 3 -1. 30% 4 Cott Corp 4. 7 4. 8 -0. 1 448 476. 6 -6. 00% 5 National Beverage 2. 6 2. 5 0. 1 247. 5 243. 9 1. 50% 6 Hansen Natural 0. 8 0. 8 flat 79 76. 5 3. 30% 7 Red Bull 0. 7 0. 6 0. 1 67. 2 63. 9 5. 20%.8 Big Red 0. 4 0. 4 flat 43. 6 42. 4 2. 70% 9 Rockstar 0. 4 0. 4 flat 40. 2 41 -2. 00% 10 Other 1. 6 1. 6 flat 156. 3 160. 3 -2. 50% Total Industry 100 100 9621 9919. 8 -3. 00% Statements of leading companies within soft drink industry of the US Coca Cola Company PepsiCo Dr Pepper Snapple Group, Inc. National Beverage Corp Cott Corp (2008) Net direct tax millions $ 30. 990 43. 232 5. 531 thousands $ 575. 177 millions $ 1. 648 Cost of goods sold 11. 088 20. 099 2. 234 405. 322 1. 467 GROSS PROFIT 19. 902 23. 133 3. 297 169. 855 181.Selling Expenses 11. 358 15. 026 2. 135 131. 918 179. 8 OPERATING INCOME 8. 231 8. 044 1. 085 24. 742 leaving 113. 0 amount of gold ASSETS 48. 671 39 . 848 8. 776 265. 682 873. 1 LIABILITIES AND EQUITY 48. 671 39. 848 8. 776 265. 682 873. 1 OPERATING ACTIVITIES 8. 186 6. 796 865 35. 829 66. 9 INVESTING ACTIVITIES employ in 4. 149 used in 2. 401 used in 251 used in 3. 491 used in 54. 8 FINANSIAL ACTIVITIES used in 2. 293 used in 2. 497 used in 554 305 used in 19. 4 v Forces of the Soft Drinks Industry. ( Figure 3. Five Forces of the Soft Drinks Industry. Page 24).Threat of in the buff Entrants. Significant barriers exist to entering the soft drink industry. Bottling operations have a fairly high minimum efficient scale and require fixed assets which are specific not only to the process of bottling but also to a specific reference of packaging. Entering bottling, meanwhile, would require substantial capital investment, which would deter entry. Exit costs are thus also high. Bottling operations do exist which in system could be contracted out, but they are tied up in long-term contracts with the major players and thus can onl y contract with other producers in a limited way.Perhaps the most significant barrier to entry, however, is the grueling brand identity associated with the best-selling soft drinks. Placing another cola on the market is not an attractive value proposition. Bargaining Power of Suppliers. Suppliers to the soft drink industry are, for the most part, providing commodity products and thus have little indicant over the industry. Sugar, bottles and cans are homogeneous goods which can be obtained from umpteen sources, and the aluminum can industry has been plagued by excess supply.The one necessary ingredient which is unique is the faux sweetener aspartame is clearly preferred by consumers of diet beverages and for a time was under bare protection and therefore only available from one supplier. However, the patent expired and another producer entered, reducing the market power of NutraSweet. For example, the inputs for Coke and Pepsis products were to begin with sugar and packaging. Sugar could be purchased from many sources on the feed market, and if sugar became too expensive, the firms could easily switch to corn syrup, as they did in the early 1980s.Bargaining Power of Customers. Buyers can be considered at the consumer or the retail level. The soft drink industry sold to consumers through five principal channels food stores, convenience and gas, fountain, vending, and mass merchandisers, fast food restaurants. For consumers, taste will be an important part of the preference for a particular soft drink thus although there is no mo exonerateary switching cost, there may be a loss of enjoyment associated with a less-preferred brand. Because of this, consumers have historically been brand-loyal and not based purchase decisions on price.Retail outlets have not been able to exhibit much buyer power over the industry, although they can do so more easily than consumers. Traditionally these outlets have been fragmented and have been dependent on the major soft drink brands to increase store traffic. However, at the time of the case there has already been evidence of some buyer power on the part of grocery stores, as they successfully resisted an attempt to price the varieties with more costly inputs higher. As grocery chains increasingly merge and as discount outlets continue to grow, buyer power on the part of retailers is likely to increase.Threat of Substitute Products. While the U. S. soft drink market was growing, substitutes did little to interfere. Soft drinks are sufficiently unique that when a consumer wants a soft drink another product is not likely to satisfy. Other cold drinks such as water, juices and iced tea offer similar refreshing qualities, yet they do not have the same taste or properties. Hot beverages and alcoholic beverages are not desirable or appropriate for many of the occasions when one would want a soft drink.The one category which threatens soft drink producers is the new age product which offers (or implies) more natural ingredients and/or health benefits. The soft drink industrys initial answers to these beverages, in the form of Tab Clear and crystallization Pepsi, are not going to compete effectively with the new age products. Competitive Rivalry within an Industry. The absorption in the industry (mainly between its leaders Coke, Pepsi and Cadbury/Schweppes) would suggest that internal rivalry is somewhat less than if there were many players of equal size.Although the competition between Coke and Pepsi has become fiercer over time, they traditionally competed chiefly on advertising, promotion and new products rather than price (although the explosion of new brands did eventually lead to some price competition). The products are similar but not homogeneous and buyers are fairly brand loyal. Retail buyers have significant costs for switching from the major brands since those are responsible for bringing people into the store.Flattening and potentially declining U. S.demand may be a factor which increases internal rivalry and encourages more price competition and thus erosion of profits. Revenues are extremely concentrated in this industry, with Coke and Pepsi, together with their associated bottlers, commanding 73% of the case market. In fact, the soft drink market can be characterized as an oligopoly, or even a duopoly between Coke and Pepsi, resulting in positive economic profits. As analysis using Porters five forces shows that the soft drink industry is very profitable. Suppliers and buyers have not had more power over the industry than it has had over them.Internal rivalry, while seeming intense, has not eroded the profitability of the industry because of its concentration and the fact that the two major players have primarily competed on the basis of advertising and promotion and not price. Entry is difficult both for reasons of scale and the strong brand identity of the current major players. Substitutes have not been neighboring enough to take away si gnificant market share, although the emergence of new substitutes may pose the largest threat to the industrys profitability. Soft drink industry has an oligopolistic character.SWOT analysis of the main producers in the soft drink industry. Coca Cola Company. The Coca-Cola Company is the worlds leading manufacturer, distributor and marketer of Non- alcoholic beverage concentrates and syrups, in the world. Coca Cola has a strong brand appoint and brand portfolio. Business Week and Interbred, branding consultancy, recognize Coca cola as one of the leading brands in their top 100 global brands be in 2009. The Business Week Interbred valued Cocoa Cola at 67,000 million dollars in 2008.Coca Cola ranks well ahead of its close competitor PepsiCo which has a ranking of 22 having a brand value of 12,690 million dollars. The Companys strong brand value facilitates customer take away and allows Coca Cola to penetrate market. However, the company is threatened by intense competition which could have an adverse impact on the companys market share. Strengths Weaknesses Worlds leading brand Negative publicity large scale of operations Sluggish performance in North America gamey revenue growth in three segment Decline in cash from operating activities Opportunities ThreatsAcquisitions extreme competition Intense competition Growing bottles water market Dependence on bottling partners Growing Hispanic population in US Sluggish growth of carbonated beverages Strengths. Worlds leading brand The Company owns four of the top five soft drink in the world Coca Cola, Diet Coke, Sprite and Fanta. Strong brands allow the company to exhibit brand extensions such as Vanilla Coke, Cherry Coke and Coke with Lemon. Over the years, the company has made large investments in brands promotions. Consequently, Coca Cola is one of the best recognized global brands.The companys strong brand value facilitates customer recall and allows Coca Cola to penetrate new markets and consolid ate existing ones. Large scale of operations With revenues is excess of 24 billion dollars Coca Cola has a large scale of operation. Of the approximately 52 billon beverage servings of all types consumed worldwide every day, beverages bearing trademarks owned by or licensed to Coca Cola account for more than 1. 4 billion. The companys operations are supported by a strong infrastructure across the world.Coca Cola owns and operates 32 principal beverage concentrates and/or syrups manufacturing plants set(p) throughout the world. In addition, it owns or has reside in 37 operations with 95 principal beverage bottling and canning plants in the US. The company also owns bottled water production and still beverage facilities as well as a facility that manufactures juice concentrates. The companys large scale of operation allows it to feed coming(prenominal) markets with coitus ease and enhances its revenue generation capacity.Robust revenue growth in three segments Coca Cola revenue s recorded a double public figure growth, in tree operating segments. These tree segments are Latin America, East/South Asia, and Pacific Rim and Bottling investments. Revenues from Latin America grew by 20,4% during 2007, over 2006. During the same period, revenues from East/South Asia and Pacific Rim grew by 10. 6 % while revenues from the bottling investments segment by 19. 9%. Together, the three segments of Latin America, East/South Asia and Pacific Rim and Bottling investments, accounted for 34. 8% of total revenues during 2007.Robust revenues growth rates in these segments contributed to top-line growth for Coca Cola during 2007. Weaknesses. Negative publicity The company received prohibit publicity in India during September 2006. The company was accused by the Center of Science and Environment (CSE) of selling products containing pesticide resi overdue. These pesticides included chemicals witch could cause cancer, damage to the nauseated and reproductive systems and red uce bone menial density. Such negative publicity could adversely impact the companys brand image and the demand for Coca- Cola products.Sluggish performance in North America Coca Colas performance in North America was far from robust. North America is Coca Colas core market generating about 30 % of total revenues during 2007. Therefore, a strong performance in North America is important for the company. Sluggish performance in North America could impact the companys future growth prospects and prevent Coca Cola from recording a more robust top-line growth. Decline in cash from operating activities Cash flows from operating activities decreased 7% in 2008 compared to 2007.Decline in cash from operating activities reduces availability of funds for the companys investing and financing activities, which, in turn, increases the companys exposure to debt markets and fluctuating interest rates. Opportunities. Acquisitions Strong international operations increase the companys capacity to penetrate international markets and also gives it an opportunity to diversity its revenue stream. Coca Cola made acquisitions in Australia, New Zealand, Germany, and China for the last 3 years. These acquisitions strengthened Coca Cola international operations.It gives Coca Cola an opportunity for growth, through new product launch or greater penetration of existing markets. Growing bottled water market Bottled water is one of the fastest growing segments in the worlds food and beverage market owing to increasing health concerns. The market for bottled water in the US is forecast to reach revenues of about 19. 3 billion dollars by the end of 2010. The companys Dasani brand water is the 3rd best-selling bottled water in US. Coca Cola could leverage its strong position in the bottled water segment to take advantage of growing demand for flavored water.Growing Hispanic population in US Hispanics are growing rapidly in number and economic power. As a result, they have become more important to markets than ever before. The company can benefit from an expanding Hispanic population in the US, which would learn into higher consumption of Coca Cola products and higher revenues for the company. Threats. Intense competition Intense competition Coca Cola competes in the nonalcoholic beverages of the commercial industry. The company faces intense competition in various markets from regional as well as global players.Also, the company faces competition from various juice drinks and nectars. In many of the countries in which Coca Cola operates, including the US, PepsiCo in one of the companys primary competitor. (Other significant competitors include Nestle, Cadbury/Schweppes, Group DANONE and Kraft Foods. ) Competitive factors impacting the companys business include pricing, advertising, sales promotion programs, product innovation. And brand and trademark development and protection. Intense competition could impact Coca Cola market share and revenue growth rates .Dependence on bottling partners Coca Cola generates most of its revenues by selling concentrates and syrups to bottlers in whom it doesnt have any ownership interest or in which it has no controlling ownership. Loss one or more of customers by any one of its major bottling partners could indirectly affect Coca Cola business results. Such dependence on third parties is a weak link in Coca Colas operations and increases the companys business risks. Sluggish growth of carbonated beverages US consumers have started to look for greater variety in their drinks and are becoming increasingly health conscious.This led to a decrease in the consumption of carbonated and other sweetened beverages in the US. The performance of the market is forecast to decelerate, with an anticipation compound annual rate of change of -0. 3% for the five-year period 2005-2010 expected to drive the market to a value of 62. 9 billion dollars by the end of 2010. Coca Colas revenue could be adversely affected b y a slowdown in the US carbonated beverage market. PepsiCo. In 2009 PepsiCo estimated that its annual retail sales had reached $92 billion, offering over 100 brands around the globe.The main cash cow of PepsiCo of course being the Pepsi carbonated drink that owned 10% of the US beverage market in 2008. PepsiCo offers the worlds largest portfolio of billion-dollar food and beverage brands, including 19 different product lines that each generates more than $1 billion in annual retail sales. PepsiCo mains businesses Frito-Lay, Quaker, Pepsi-Cola, Tropicana and Gatorade also make hundreds of other nourishing, foods and drinks. Strengths Weaknesses Strong core brand Concentrated in North America .Strong market position wellness Craze will hurt soft drink Solid brand portfolio Negative publicity Strong revenue growth Economies of scale Opportunities Threats Food segmentation expansion Sluggish growth of carbonated drinks Hispanic growth in the US Competition with Coca-Cola & others Bottled water growth Declining economy/recession Growing consumer health consciousness Cadbury Schweppes/Dr. Pepper Snapple. Dr Pepper Snapple Group Inc. (formerly Cadbury Schweppes Americas Beverages) is an American soft beverages drink company, which was spun off from Britains Cadbury Schweppes.Company manufactures, markets and distributes more than 50 brands of carbonated soft drinks, juices, ready-to-drink teas, mixers and other premium beverages across the United States, Canada, Mexico and the Caribbean. Our diverse portfolio includes Dr Pepper, Snapple, 7UP, Motts, A&W, Sunkist Soda, Canada Dry, Hawaiian Punch, Schweppes, Penafiel, Squirt, Clamato, Mr & Mrs T Mixers, Roses, Yoo-hoo and other consumer favorites. Most of the brands in this segment are CSD brands. In 2009, our Beverage Concentrates segment had net sales of approximately $1. 1 billion.Strengths Weaknesses Strong portfolio, consumer-preferred brands Weak performance in Asian Market Integrated business m odel A substantial amount of outstanding debt Strong customer relationships Strong operating brims and stable cash flows Opportunities Threats New distribution channels in a market Changing consumer tastes Growing consumer health consciousness Operating in highly competitive markets Focus on opportunities in high growth and high margin categories Depend on the 3rd party bottling and distribution companies Cott Corporation.Cott Corp is one of the leading non-alcoholic beverage companies and retailer brand soft drink providers. The company primarily operates in the US, Canada, the UK and Mexico. It is headquartered in Toronto, Canada and employs 2,803 people. The company recorded revenues of $1,648. 1 million during the financial year ended December 2009, a decrease of 7. 2% compared to 2008. The operating loss of the company was $113 million during 2009, compared to the operating loss of $54. 5 million in 2008. The net loss was $122. 8 million in 2009, compared to the net loss o f $71. 4 million in 2008.Strengths Weaknesses Leading Producer of Retailer Brand Beverages with Diverse Product Portfolio Unable to compete successfully in the highly competitive beverage category. Extensive, Flexible Manufacturing Capabilities May not be able to respond successfully to consumer trends significant amount of outstanding debt Opportunities Threats New distribution channels in a market Changing consumer tastes Growing consumer health consciousness Intense competition Focus on opportunities in high growth and high margin categories National Beverage Corp.National Beverage develops, manufactures, markets and distributes a portfolio of beverage products throughout the US. The company develops and sells a selection of flavored soft drinks, juices, sparkling waters and energy drinks. It is headquartered in strengthen Lauderdale, Florida and employed about 1,300 people. The company recorded revenues of $566 million during fiscal year ending April 2008, an increase of 5% over 2007. The increase in revenue was due to 9% growth in case volume of energy drinks, juices, and waters. The operating profit of the company was $172. 6 million during 2008, a decrease of 0. 4% compared with 2007.The net profit was $22. 5 million in 2008, decrease of 8. 9% compared with 2007. Strengths Weaknesses Extensive Brand Portfolio Geographic concentration Declining Profits Opportunities Threats Focus on Asia Pacific Market Limitations on Commercialization of Alcoholic Products Rise in Demand for bottled Water in the US Riding Input Costs Change in Consumer Preferences Intense Competitive Pressures Companys key success factors within the soft drink industry. Key factors for competitive success within the soft drink industry branch from the trends of the microenvironment. Primarily, constant product innovation is imperative.A company must be able to recognize consumer wants and needs, while maintaining the ability to adjust with the changing market. They must keep up with the changing trends. Another key factor is the size of the organization, especially in terms of market share. Large distributors have the ability to talk terms with stadiums, universities and school systems, making them the exclusive supplier for a specified period of time. Additionally, they have the ability to commit to mass purchases that significantly lower their costs. They must apply effective distribution channels to remain competitive.Taste of the product is also a key factor for success. Moreover, established brand loyalty is a large aspect of the soft drink industry. Many consumers of carbonated beverages are extremely dedicated to a particular product, and rarely purchase other varieties. This stresses the importance of exploitation and maintaining a superior brand image. Price, however, is also a key factor because consumers without a strong brand preference will select the product with the most competitive price. Finally, global expansion is a vital factor in th e success of a company within the soft drink industry.The United States has reached relative market saturation, requiring movement into the global industry to maintain growth. Soft drink industry main characteristics, trends and changes. Soft drinks are an integral part of American life and culture and soft drinks have been produced or consumed in nearly every corner of the world. The industry is lucrative with a potential for high profits, but there are several obstacles to overcome in order to capture the market share. Growing consumption trends can be attributed to rising disposable incomes, falling trade barriers, universal product acceptance, and a rising demand for American consumer goods.It would be very difficult for a new company to enter this industry because they would not be able to compete with the established brand names, distribution channels, and high capital investment. Likewise, leaving this industry would be difficult with the significant loss of money from the fi xed costs, binding contracts with distribution channels, and advertisements used to create the strong brand images. This industry is well established already, and it would be difficult for any company to enter or exit successfully.The carbonated beverage industry is a highly competitive global industry, and has some characteristics of an oligopoly in the US. Three leading companies have prominent presence in the soft drink industry. The leaders include the Coca-Cola Company, PepsiCo, and Cadbury Schweppes. Leader companies have to hold the highest percentage of the global market share therefore, companies need to be able to compete globally in order to be successful. Profitability in the soft drink industry will remain rather solid, but market saturation especially.

“A Sound of Thunder” and “Nethergrave” Essay

A healthful of Thunder by Ray Bradbury and Nethergrave by Gloria Skurzynski were good, rise written science fiction stories. Both stories used technology to greatly change the life of the main characters. A Sound of Thunder involved dinosaurs and a time machine in which the characters used to go back in time. The time machine was built to go to the stories setting in a jungle, lx million years in the past. In Nethergrave, the main character, Jeremy, choses to get sucked into the virtual world instead of staying the real world after having a quite upset and lonely day. This stories setting seemed to be in the present time but did not say for sure. The climax in Nethergrave was when all Jeremys online friend had unexpended him and he got a message from someone telling him to turn on his mic. I didnt know what was expiration to happen or what the man precious from Jeremy. He made the decision to leave the real world of being ignored and bullied to go to somewhere he was promised n ever to be abandoned.The climax in A Sound of Thunder was when the men were on the time machine returning to the present time. I thought this was the most suspenseful time because I knew Echkels had walked of the path he was forbidden to leave and I was waiting to read if that small action had really partakeed the future. Both the stories climaxes made me wonder what was going to happen next. One of the themes in the A Sound of Thunder is that one small bad action can lead up to a big destruction. I think a theme for Nethergrave is that when reality is tough, it is easy to make poor decisions that seem to make it better. Both themes are ideal to remember because they go hand in hand. If you think about it, the theme in Nethergrave is saying if life is hard, then it is easier to make poor decision, and if you make poor decision, than it can affect yourself or others like the theme is in A Sound of Thunder.Both of these short stories show how technology can be extremely dangerous. A dvancements in technology are being made every day. Even though these are science fiction stories, I thinkt the dangers of technology from the storiesmight actually be possible in the future. Both stories kept me wanting to keep reading, but A Sound of Thunder was more effective than Nethergrave in my opinion. It had better delineation in describing the charters, a more relatable theme, had more description, and helped the readers get familiar with the setting. The last line of Bradburys story, There was a sound of thunder, made me ride dazed for a moment, questioning if he really did kill Echkels. Overall, I thought it had more exciting action and was my favorite of the two.Works CitedBradbury, Ray. A Sound of Thunder. New York Doubleday, 1952. Print. Skurzynski, Gloria. Nethergrave.

Andersen’s Case Auditing and Assurance Services

Arthur Andersen was oneness of the five biggest accounting firms in United States. Arthur Andersen is specific event ab come out of the closet the most recent crinkle collapse, which is considered profound in American business history. The firm, practicing in more than 80 countries with thousands of employees, now lost its reputation as an audit and accounting firm. There atomic number 18 many different thoughts and judgments about the case when Arthur Anderson failed its tasks to detect fraudulent financial activities on Enron and several different companies.The Enron club filed failure in December of 2001. Being well known as a big energy company which headquarters is located in Houston, the bankruptcy of the company drew lots off attentions from business world. Questions were asked and lots of financial misstatements were revealed and Arthur Andersen Enrons external auditing and accounting firm in Houston, was involved. Stephens (2002) stated, Arthur Andersen who were respon sible for managing Enrons audits, had illegitimately destroyed paper and electronic documents related to their representation of Enron (p. 4). The case soon went to the jury. Louwers et al. (2011) reported the instructions hinged on the intelligence agencying of statue that makes it a crime to knowingly commit intimidation or physical force, threaten, or corruptly persuade other person. According to Oxford Dictionaries online, corrupt means having or showing a willingness to act deceitfully in return for money or personal gain. In this case, the word corrupt was not applied appropriately to the actions of Anderson. There was no evidence to surface that there is a person who is corrupt inducer.Who was the one that acted dishonestly? The court also needs to identify the personal gain that a corrupt persuader can gain from having such action. The court could not find the answers to this issue, which means the decision is attached to the firms fate Arthur Andersen. Research by St ephens (2002) states that to crystallize the instruction of Judge Harmon about corruptly, the prosecution describes the illegal conduct of four corrupt persuaders Duncan, Temple, Thomas Bauer, and Michael Odom.After a few days, the jury was not compulsory to unanimously agree on the single corrupt persuaders identity (Stephens, 2002). As Louwers et al. (2011) stated that the issues that overturned the Andersen verdict were based on unseasonable jury instructions, not on whether Andersen was in fact guilty or innocent. It was not Andersen who violated the law it is individuals of the company who did. Hoxter (2005) argued that the instructions were faulty because they did not engage proof that Andersen semiofficials knew they were doing something vituperate.The ruling destroying the documents was not a crime. There must be a person with authority who sent out the instructions for Arthur Andersen employees to do so. As Stephens (2002) restated from the interviews with reporters a fter the verdict, four jurors identified Temple as that person. It is appropriated for the Supreme Court to overturn the lower courts decision because Judge Harmon used the word promptly with different meaning from the dictionary, which is improper purpose, such as intent to subvert or undermine the fact finding ability of an official proceeding.The lower court failed in identifying the specific person who is corruptive persuader. According to Duska (2005), Arthur Anderson, a venerable firm, at one time, prided itself in its role as auditor since it fulfilled an important public function. As auditors, Andersens employees should have had clear minds to make sure that the financial statements that they audit are really what were going on in the company. However, big money that was made in the consulting means the responsibilities that auditors have to face is heavier.The SEC and the department of Justice shouldve tried to targeted specific individuals who had engaged in acts because it seems not fair for the rest of the firm. According to Cunningham (2005), It is a shame that the actions of a few individuals at Andersen caused 28,000 employees in the U. S. to lose their jobs (p. 6). Indeed, putting the complete firm out of business for the unethical actions of a couple of individuals was the real sin. Andersens judgment of conviction was overturned does not mean that its employees acted in ethical manner.McNamee and Palmeri (2002) provided information about Arthur Andersons cleaning-up mission when the Enron case started to topple. From Andersons internal document, Enron team was also busy amending four key memos to correct the record of its review of Enrons convolute and conflicted confederation deals (McNamee and Palmeri, 2002). Moreover, David Duncan overruled the concerns on at least four occasions, siding instead with Enron on controversial accounting that helps to hide debt amount and brought up the earnings.That is not all, there are also evidences sai d that Duncans team wrote memos which are falsely stated that PSG partners had signed off on Enrons inventive bookkeeping. Nancy Temple is the attorney for Arthur Andersen. She is the one who should clearly know about all the regulations and should not be the one who acted unethically. According to McNamee and Palmer (2002), memos from Nancy Temple to David Duncan were found which can considered the main key in the conviction of Duncan about shredding the documents. It is more for Nancy Temple who is more responsible for the Andersen saga.The class action lawsuit against Andersen also has another name which include other entities name in there because those entities also had involved in Enrons case. These entities helped Enron to cover up because by helping them they make more profit. From Arthur Andersens case, entities and accounting firms in business world should learn lessons for their own goods. If the employees notice of any concerning about the legality of any records, they s hould contact the legal department right away. There is nothing wrong disposing of business papers that are not needed.It is illegal only when retention is required by law or regulation according to Stephens (2002). Reference rapscallion Hoxter, C. J. (2005). Arthur Andersen Conviction Overturned. Caribbean Business, 33(25), 8. Duska, R. (2005). The Good Auditor Skeptic or Wealth Accumulator? Ethical Lessons Learned from the Arthur Andersen Debacle. Journal Of Business Ethics, 57(1), 17-29. doi10. 1007/s10551-004-3818-1 Stephens, D. O. (2002). Lies, Corruption, and Document Destruction. Information counselling Journal, 36(5), 23. McNamee, M. , Borrus, A. , & Palmeri, C. (2002). OUT OF CONTROL AT ANDERSEN.Businessweek, (3777), 32-33. Cunningham, C. (2005, July-August). Ruing Andersens demise and the loss of audit competition. Financial Executive, 21(6), 6. Retrieved from http//go. galegroup. com. glbvv001. enmu. edu/ps/i. do? id=GALE%7CA134300985=2. 1=nm_a_enmu=r=EAIM=w In Oxford Dictionaries online. Retrieved from http//oxforddictionaries. com/us/ commentary/american_english/corrupt? q=corrupt Louwers, T. J. , Ramsay, R. J. , Sinason, D. H, Strawser, J. R, & Thinodeau, J. C. (2011). Auditing & Assurance Services (5th, ed. ). NY McGraw-Hill Irwin.

Advantage And Disadvantage In City Life Essay

Big city is where you can see many vehicles,many skyscrapers, many community with a hurry pace of life. That place can fascinate us very much due to its light and luxury. Nowadays, much and more stack require to live there because they see many advantages. Indeed, in a big city, people can have the better(p) chances to work as well as can enjoy the best service and entertainment In a big city, people can take the chances to study and work best. There be many good University for u to choose in a big city.There you can express your ability to study what you like. Moreover, when you ammonium alum, you also muster up it easier to find chances to get a good job with good salary, that is quite difficult in small cities or countrysides because there concentrates many big companies and groups. Hence, many graduate students choose big cities to live and work. In short, it is where you can take advantages f yourself. In addition, in a big city you can enjoy the best service and enterta inment. Is this Essay helpful?Read more Difference between village life and city life essayJoin OPPapers to read more and access more than 325,000 just like it get better grades Because there atomic number 18 many rich people here, they can invest much coin to get the best for them. Lives in a big city are quite luxurius but you dont have to be worried when you are sick or suffer a disease because there you can find good doctors for you, as long as you have much money. Whats more, in a big city you can enjoy new entertainment such as new games or luxury games. Many people can argue that animate in a big city makes them tired with noise and dash.They like the slow pace of life in a countryside. But I think that you can live there for a long time because the young always like to enjoy new things and exigency to have much money, which is very difficult to do in a countryside. However, when you get older, especially when you retire, a countryside will the best choice to live. In sum mary, living in a big city has many advantages. However, you have to try your best to overcome all difficulties such as hard competition in workplace or polluted environment.

The Role Of Audit Committees And Corporate Governance Accounting Essay

In regularize to better collective brass section, accounting organic structures, market regulators and committees has recommended the preparation of coat up commitments. In 2001, after the creative solveivity of Douala entrepot counterchange ( DSX ) , the Cameroon capital market authorization requested totally listed companies to compulsive up washbowlvas citizens committees. This panorama focuses on the function of analyze consignments and merged government representivity in Cameroon listed companies.Particularly, how visit commissions operates in a developing economic brass like Cameroon and how these patterns target be comp ard with those in the western economic systems every turn of events estimable as other emerging economic systems, the dealingship of canvass commissions with circumspection, inborn and foreign he arrs.The study accomplishments and challenges confronting size up commissions.This check up on revealed that AC in Cameroon are challenged with unequal human resource capacity, the intercession of the authorities and kiping shareholders every mo unspoiled the fast ever-changing sub judice and sparking environment. up to now, in that location has been a babble outular betterment on the dependability of pecuniary describing therefore testifying investor s assurance.Key words Audit commissions, somatic establishment, Cameroon, listed companies, armorial bearing, internecine hearer, orthogonal hearer, OHADA ( organisation for harmonisation of tutelage jurisprudence in Africa ) , CMA ( capital market authorization ) , Decision formulate.Table of ContentDeclarationRecognitionList of mannikinsList of AbbreviationsList of TablesAbstractionChapter 1 Introduction1.1 Introduction1.2 basis1.3 Motivation1.4 The discern nonsubjective and Questions1.5 The survey oscilloscope1.6 The restrictions.7 The survey piddleionChapter 2 Conceptual seat2.0 -IntroductionSection A collective brass instrument 2.1- The Definitions of Corporate Governance2.2- The Background of Corporate Governance2.3- Corporate Governance Code2.4 Corporate Administration mechanism2.5 Corporate face Environment2.6 The Development of the construct of Corporate GovernanceSection B Audit Committee2.7 The Operationss of Audit Committees2.7.1- The Charter2.7.2 Composition of the commission2.7.3 -Qualification and Experience2.7.4- Meetings and Reports2.8-The Relationship betwixt Audit Committees, the watchfulness, inner(a) hearers andexternal hearers2.9 The major Accomplishments and Challenges confronting Audit Committees.2.10- Conclusion.Chapter 3 notional Frameworks for Corporate administration and Audited accountCommittees3.1 innovation3.2 The Agency theory3.3 Evidence on struggle of matter between shareowners and directors3.3.1 difference of opinion over Compensation3.3.2 Conflict on variegation and wealth reduction investing3.3 the Stewardship theory3.3.1 Summary of the theoriesChapter 44.1 Corpora te Governance issues in developing advances. ( Cameroon )4.2 The sanctioned and Regulatory put for Corporate administration of listed companies inCameroon.4.2.1The Role of Douala stock exchange ( DSX )4..2.2- The Board of Directors4..2.3 The Audit Committee4.2.4- The Stockholders4. 2.5.The Role of the Governance4.3- The Actors of Corporate Governance Stockholders and DirectorsChapter 5 Research Methodology5.1 debut5.2 Questionnaire study5.3 Administration of Questionnaires study5.4 Responses of the questionnaire study5.5 Interview Survey5.5 Administration of interview studyChapter 66-Findings and Discussion6.1- Operation of Audit Committees6.2- Relationship of Audit commissions with counselor, natural andexternal hearers6.3- Accomplishments and ChallengesChapter 7, Conclusion, Refrences and AppendixChapter 1 Introduction1.1-IntroductionIn the past two decennaries, there has been turning attendings on collective administration notably after the in corporald prostration of su perior meshing income companies in the universe like the Enron and WorldCom. Corporate administration is now a first magnitude issue largely in economic systems where companies are run by commanding stockholders ( Albuquerue and Wang, 2008 ) and a big bet of companies are seeking to follow better merged administration patterns ( Garay and Gonzalez, 2008 ) .Traditionally, collective administration is regarded as a spurious by which companies safeguard the frequent assistant of its moneymans such as its investors, creditors and loaners.Today, with the current recession and planetary pecuniary hurt, issue of corporal administration patterns in companies and the functions of different commissions are been studied. Audit commission is going the most widely used mechanism to secure not bad(predicate) unified administration in companies ( Chen et al, 2008 ) .The canvas commission is an operating commission of the company s board of managers that chip in virtually slacknes s duties such as the financial coverage, fiscal revelation, external hearers, interior canvassing every bit pricy as hold up.A computable check somatic administration surveies has be carried out in developed states of Europe, United provinces of the States and Japan ( Joshi and wakil,2004 ) .Very more or less surveies has existence carried out and completed in less developed countries.Tsamenyi, Enninful-Adu and Onumah ( 2007 ) observes that corporate administration surveies in less develop states are particular and are getable nevertheless on single state footing.This survey tries to bridge the circle in anterior survey by adding more in our apprehension of the operations of audit commission and the major accomplishments of audit commissions in Cameroon. Furthermore, old seek in developing states did non addressed the issue on how audit commissions relate with the direction, internal hearers and external hearers.In this survey, we seek to agnize full in this spread by figure intoing on how audit commissions in Cameroon listed companies relate with the direction, internal hearers and external hearers1.2 BackgroundJensen and Meckling ( 1976 ) delimit power relationship as a contract to a lower place which one or more individuals ( principals ) engages some other ( agent ) to exert a service on their behalf. Directors or agents are being delegated the daily determination devising by stockholders. Directors are therefrom charged with the duties of utilizing and commanding the place s economic resources.However the directors may non move ever to the stockholders best involvement due to inauspicious choice and moral jeopardy ( Anthony and Govindarajan,2007 531 ) . Therefore, stockholders has to supervise directors activities in order to guarantee that they live up to the commissariats of their contracts ( Goddard and Masters,2000 )To avoid direction failures, Moldddoveanu and Martin ( 2001 ) argued that stockholders must(prenominal) ordain confirmation, monitoring every bit ripe(p) as countenance ( wages and penalty ) mechanisms. Moldoveanu and Martin ( 2001 ) defined confirmation mechanisms as the tools used in formalizing the determinations of the agent, in giving concluding veto for an enterprise, directive or the action program of the agent. Monitoring mechanisms ( some(prenominal) ongoing and separate monitoring ) are use to detect, record and to mensurate the end product of the agent s attempts. Furthermore, approving mechanism hold in selective wagess / or penalties to agents for/ or for non alining their attempts with stockholders aims or stockholders involvement.A good figure of corporate administration surveies has being carried out in developed states of Europe, United provinces of America and Japan ( Joshi and wakil,2004 ) .Very few surveies has being carried out and completed in less developed states.Tsamenyi, Enninful-Adu and Onumah ( 2007 ) observes that corporate administration surveies in less dev elop states are limited and are available merely on single state footing.1.3 MotivationProper corporate administration is a really imperative mechanism to reconstruct investor s assurance, to enlarge the private sector, and to awaken economic growing. It have been predicted that good administration of companies go out shortly go as important to the universe economic system as proper administration of single states. Some unwashedwealth may see this as excessively early to hold, but this anticipation was suggested with grounds, if non evidently true today, so, is really likely to be true in the hereafter. The planetary recognition of the impact of events sing corporate societal irresponsibleness s such as the fiscal crises in Asia, the corporate dirts in the universe high net income companies like Enron and WorldCom and the fiscal crisis in most African states in the last decennary.All these cases negatively affected the public assistance and the lives of many such as the employ ees, the pensionaries, put forward s creditors and loaners. These raised the pressing lease for intelligent and efficient ordinance of corporations and anyways led to fear in market places, and a lessening in stock monetary values. In most underdeveloped states, like in Africa, the acknowledgment of lost chances to mobilise fiscal resources in domestic and international capital markets via good corporate administration took the involvement of most African Heads of State. This so inspired the African Heads of State to admit good corporate administration as one of the tetrad psyche thematic countries subjected to reexamine under the African Peer Review Mechanism ( the APRM ) .The cardinal selected countries include, policy- do administration and democracy, economic administration and direction, socio-economic development, and good corporate administration.The demand to closely supervise the operations of corporations can be justified by the succeeding(prenominal) two grounds -The increasing involvement of the investors in developing states to put in listed companies.-The Potential additions or losingss that hinge on good direction of corporations can be financially profitable or economically annihilating1.4 Research aim and QuestionsThe research aim is to add more in the apprehension of the operations of audit commissions in footings of their composing, rank, independency, meeting and coverage, charter guideline every bit good as the accomplishments and challenges. The research besides aims at analyzing the relationship between audit commissions with the direction, internal hearer and external hearers. Finally we leave alone compare our findings with those in western and other emerging states. To accomplish these purposes, the research worker seek to beg the sentiments of four bunchs of respondents in the three listed companies in DSX ( SEMC, SOCAPALM, and SAFACAM ) . ( I ) the presidents of audit commissions, ( two ) the company secretaries, ( three ) the finance caputs and ( four ) the external hearers of all the companies listed in the Douala Stock stand in ( DSX ) .The undermentioned research inquiries will be address a ) How the audit commission operates in less states like Cameroon and how these patterns are compared with those in developed statesB ) How audit commissions relate with direction, internal hearers and external hearersdegree Celsius ) What are the chief accomplishments and challenges confronting audit commissions1.5 The survey rangeThe range of this survey is to analyze the function of audit commissions and corporate administration in developing states peculiarly in companies listed in the Douala stock exchange ( DSX ) Cameroon.The analyses will focus on on the operations of audit commissions in listed companies in DSX by looking at their manner of choice, composing, frequence of the commission meeting, coverage, making and ingest, the accomplishments and challenges confronting audit commission.The old rese arch in developing states did non addressed the take on how audit commission relate with the direction, internal hearer and external auditor.In this survey, the research worker seek to make full in this spread by look intoing how audit commissions in listed companies in Cameroon relate with the direction, internal and external hearers1.6 Restrictions.It is imperative for the research worker and the users of this research to be qui vive of the pertinent restrictions as they estimate to progress and understand the wakes of this survey ( Anderson and Poole, 2001 ) . We should acknowledge that the regularity of questionnaire study is entitled to built-in restrictions. Harmonizing to Matthews ( 2002 ) all studies are entitled to some built-in failings as some respondents give responses which they believe are expected of them, or which portray themselves and the organisation in the best visible radiation. This can be the instance of the responses of the participants in this survey whi ch included AC presidents, company secretaries and finance caputs. They may hold overstated their appraisal of the AC patterns as this was seen to be more of import than the other congregation of the participants ( external hearers ) . Besides, it can be probably that the questionnaires were non clear, this causes respondents to construe some inquiries otherwise or on their ain manner. This survey was besides limited by the position that the interview study sample size was excessively little ( merely 5respondents opted ) as carry oning more interviews would hold guaranteed a broader apprehension of the research issue, til now the interview study was merely to complement the questionnaire study to acquire a deeper penetration of the findings1.7 The survey constructionThis paper will be make up of septenary chapters, chapter one introduces the subject of corporate administration and audit commissions, it besides give the first apprehension of the thesis bandagingground, motive, r esearch aims, research inquiries and the restrictions.chapter two which is conceptual model is in two departments. Section one will be based on corporate administration definitions, its background, corporate administration computer codes, mechanism, corporate administration environment and in conclusion the development of the construct of corporate administration. Section two of this chapter will establish foremost on the operations of audit commissions ( maps ) , subsequently focuses on the charter, composing which has to make with the inquiry of independency ( Joshi and Wakil,2004 ) , the factor of fiscal accomplishments as a requirement for audit commissions member is besides examined every bit good as audit commission meetings and studies.Blue Ribbon commission ( 1999 ) ) gave recommendation that audit commissions members must be financially literate. Second, this subdivision will speak virtually the relationship of the audit commissions with direction, internal hearers and e xternal hearers. Last, this subdivision will speak about some of the major accomplishments and challenges confronting audit commissions.Chapter three will seek to analyse some abstractive models like the dominance theory and stewards theory. And so look at the some of the bureau jobs between directors and stockholders. This chapter will in conclusion give a belief sum-up of the two theories ( bureau and stewardship theory )In chapter four, the research worker will speak about corporate administration issues in developing states ( Cameroon ) , the legal and regulative model of corporate administration in listed companies in the Douala stock Exchange ( Cameroon ) concentrating on the function of the Douala stock exchange, the authorities of Cameroon, the board of managers, stockholders and audit commission, This chapter will look in conclusion at the histrions of corporate administration which involves the stockholders and directors.Chapter five which is research methodological anal ysis, the research worker will establish his research method on questionnaire and interview study turn toing the survey objectives.This questionnaires will be based on the operations of audit commissions, composing, independency, fiscal literacy, relationship, self-evaluation every bit good as the major accomplishments and challenges.they will largely be true or false type inquiries while others will ask the respondents to rate the commissions achievement with a mark of 4 ( to a greater extend ) to a mark of 1 ( non at all )Chapter six will concentrate on the findings and discourses sing the research consequences. The findings and interpositions will focus on on the operations of audit commissions, the relationship with direction, internal and external hearers every bit good as the accomplishments and challenges.Figure 1.thesis lineation.Chapter 2 Conceptual Frameworks2.0-IntroductionScandals, Frauds, every bit good as corporate failures has increase the demand for reforms and b etter ordinances more particularly in the Fieldss of corporate administration. In the early 1990s, in united land, a good figure of issues like the prostration of Maxwell affect imperium, leaded to the stimulation of treatments and statements refering the constructions for commanding administrator king ( strength2002 ) .In December 1992, a code of best patterns was published ( the Cadbury codification ) .this codification gave recommendations to companies to organize audit commissions consisting of case-by-case non-executive managers ( personnel2002 )In United provinces of America, the addition figure of net incomes restatements in public traded companies, together with the fiscal statement fraud allegations every bit good as deficiency of responsible corporate administration in extremely profitable companies like Enron, Global crossing, World com In USA, Leisurenet in south Africa have sharpened the increasing attending in corporate administration every bit good as audit comm issions in peculiar. The diminution of these companies raised much concerns sing the deficiency of argus-eyed inadvertence by boards of managers and audit commissions in fiscal coverage procedure scrutinizing maps ( Rezace et al,2003 ) .George W Bush, USA president in the province of the brotherhood reference, mentioned the gravitation of this job by saying that through with(predicate) stricter accounting standard and tougher revelation demands. Corporate America must be made accountable to employees and stockholders and held to the highest criterion of behavior ( Bush,29th January 2002 ) .In USA a good figure of committees, ordinances and audit commissions has been formed to turn to corporate administration issues in USA. some of these include Tread manner committee ( 1987 ) , the Blue Ribbon commission ( 1999 ) .Further more, the 2002 sarbanes-oxely act was signed in to jurisprudence and one of its chief proviso were that all listed companies set up audit commissions ( Joshi an d wakil,2004 )Rezace, Olibe and Minmier ( 2003 ) stated that good corporate administration agitate relationships of answerability between primary corporate participants and this will travel a long manner to heighten corporate public display as direction holds answerability to the board and the board is held accountable to the stockholders. One of the board chief map is to guarantee quality accounting policies, internal check offs every bit good as independency. This will cut down fraud and fiscal hazard are anticipated every bit good as advancing accurate, high quality and timely revelation of fiscal and other information to the stockholders.CMA ( 2002 ) defined corporate administration as the procedure and the construction used to direct and cleave off concern personal businesss of the company towards heightening prosperity and corporate answerability with ultimate aim of recognizing stockholders long-run value while taking in to account the involvement of other stakeholders.In Cameroon, corporate administration issues has been taken really serious.the Cameroon capital market authorization ( DSX ) in concurrence with commonwealth standoff for corporate administration has produce a sample codification for best patterns in corporate administration in June 2001.One of the cardinal recommendations in the Douala stock exchange ( DSX ) ( 2001 ) is that all listed companies establishes audit commissions consisting of independent non-executive managers which has to maintain under reappraisal the range and consequences of audit, their potency, independency and hearers objectivenesss. The codification further stated that separate audit commissions enables the board in deputing to the sub-committee the duty for thorough and item reappraisal of the audit affairs, besides to enables non-executive managers in lending independent judgement and have a positive function to gaming in an country in which they are peculiarly fitted and offer the hearers a direct nexus wit h non-executive managers ( CMA,2002 )In south Africa, mangema and chamisa ( 2008 ) found out that the likeliness of a kin to be suspended from the stock exchange is higher(prenominal) in offers without audit commission. This therefore suggest the importance and the necessity of audit commissions in Africa.This chapter will be divided in to two subdivisions. Section A will concentrate on conceptual model for corporate administration while subdivision B will concentrate on conceptual model for audit commissions.Section A. Corporate Administration2.1 The Definitions of Corporate GovernanceStates are different from one other in footings of engineering, civilization, political system, economic and historical development ( Roman,2001 ) .There differences make the definition of corporate administration to change from state to state therefore doing it really steadfastly to came out with a universally acceptable definition of corporate administration.Shleifer and Vishny ( 1997 ) defined corporate administration while looking at the ways in which the providers of fundss to the steadfast assures themselves of good drive home for their investing. However this definition merely laid more accent on the providers of fundss, it fails to acknowledge the relationship that exist between the theater s directors and stakeholders since every house has many stakeholders with different involvements that must be taken attention of by the house. It is in this respect that corporate administration is besides looked upon as a corporate group of people united as one individual who has the power or authorization to command an organisation ( Ruin,2001 )Australian criterion ( 2003 ) defined corporate administration as a pattern in which companies are controlled, directed and held to account. Harmonizing to Australian criterion ( 2003 ) corporate administration therefore comprises of power, answerability, leading, stewardship way every bit good as control. This definition takes in to s hape the demand of cheques and balances in organisation direction procedure, therefore it can be regarded as more complete ( Gregory,2000 ) .The Australian criterion definition is besides similar to other definitions like that give by audit committee ( 2009 ) which emphasis the importance of answerability and control in organisational administration.The presence of many different definitions for corporate administration shows that every writer formulates a definition that suit his or her subject. ( Deunb and neubeuer,1992 ) .For case, harmonizing to Turnbull ( 1997 ) corporate administration influences all houses activities that produces good and or services, harmonizing to Colley et Al ( 2004 ) corporate administration is the act of regulating whereas Cadbury ( 2000 ) specify corporate administration harmonizing to the system by which the house is directed and controlled. However Wallace and Zinkin ( 2005 ) pointed out clearly that the term good corporate administration is really easy to give voice but hard to understand and appreciate.2.2 The Background of Corporate GovernanceThe construct of corporate administration is been used both in economic sciences and in jurisprudence, and it is understood to intend enforcement of contract, protection of belongings right every bit good as corporate action ( McNutt,2010 ) , once and for all, corporate administration is associated with people runing within the organisation, nevertheless the organisation has to be decently governed in order to accomplish their set aims.This construct of corporate administration became more normally used and spoken in 1980s ( parker,1996 ) nevertheless it originated in 19th coulomb when incorporation was advocated for as a agency of restricting financial obligation ( fletcher,1996.vinten,2001 ) .The creative activity of registered companies is being perceived as the existent starting point for the treatment on corporate administration ( Adams,2002 ) .This enrollment of companies was support by the joint stock companies act of 1844 ( Uk ) .The silver demand of modern corporation lead to the breakup of control map from ownership ( Berles and means,1967 ) .With this separation, house s proprietors no longer exert control over the house s action because it was seen as a function of professional directors or agent ( kiel and Nicholson,2003 ) .This so propose the demand of corporate administration to protect house s proprietors from the actions of directors.In respond to this demand, the limited liability act 1855 ( UK ) was created to protect stockholders from debts above their partsFrancis ( 2000 ) argued that the demand for corporate administration patterns became more pronounce in 1980s.This was because during this period, several parts of the universe were sing stock market clangs every bit good as corporate failures in some cooperation due to hapless administration. Harmonizing to united nation,1999 ) corporate prostration was the cardinal driver for alterat ion to corporate administration codifications. In 1980, as more and more corporate entities continue to fall in in diverse parts of the universe, there were alteration of attitude with greater public presentation outlooks on the house s direction board.It was besides realize here that the house has to be run by the director whereas the board ensures that the house is being run efficaciously ( Adams,2002 ) .The acceptance of the thought of corporate administration can besides be back up on a positive note. There was a turning recognitions that improve corporate administration is indispensable for growing and the development of the state s economic system ( Carkr,2004, Department of Treasury,1997 ) .A survey that was carried out in United States of America by Gompers, Ishii and Metricck,2003 ) reveals that there is a strong correlativity ship between good corporate administration patterns and stockholders public presentation. This survey further reveals that over 60 % of investors were prepared to pay pore on portion of companies with good corporate administration patterns.2.3 Corporate Administration Code ( CGC )In most states, the best mechanism to heighten choice corporate administration reforms is through the execution of corporate administration codification to supplement the already bing concern Torahs. Corporate administration codification can be defined as paperss which stipulate the regulations and processs for regulating and pull offing organisations ( Dabor and Adeyemi, 2009 Ugoji and Isele, 2009 Scott, 2007 Classeens and Bruno, 2007 ) .While corporate administration involves the procedure by which organisations are governed and controlled with the purpose of adding stockholders values every bit good as meeting stakeholders outlook ( CBN, 2006 Iyang, 2009 ) , corporate administration codifications on its portion, flatly stipulates the regulations, rules and the best patterns for pull offing and regulating organisation s efficaciously ( Okhealam and Akinboade, 2003 Amstrong, 2003 Gatamah, 2008, Andreason, 2009 ) . Most of these codifications are implemented by self-professional regulation bureaus but under the supervising of authorities regulative organic structures. However, the duty for companies to follow and implement these codifications depends on the company s board of managers ( Elebute, 2000 Iyang, 2009 Sanusi, 2003 Soludo, 2004 ) .Therefore, the chief duties of the board of managers are to vouch choice administration public presentation, add stockholders values, preserve the involvement of stakeholders, protect the environment and warrant precise fiscal coverage ( Alo, 2003, WILSO? 2006.dabor and Adeyemi, 2009 Roe 2003 Ahmed 2007 Olusa, 2007 Elebute, 2000 Iyang 2009 Sanusi 2003 Soludo, 2004 )2.4 Corporate Administration MechanismCorporate administration mechanism involves the procedures through which a state s concern Torahs and corporate administration codifications are been imposed. ( Reed, 2002 ) .Co rporate administration mechanism consist of agencies to supervise, nevertheless the effectivity of the corporate administration mechanism lies on the regulative models and public administration strategy in each state. ( Wilson, 2006 Dabor and Adeyemi,2009 Ro, 2003, Ahmed, 2007 Olusa,2007 ) .the best enact of corporate administration codification is achieve through modulating professional organic structures in confederation with the authorities modulating bureaus and with the stock market governments ( Vintem, 2002, Reed, 2002 Wilson,2006 oe, 2003 )The premise or the thought that, the presence of many corporate administration mechanisms will frequently allow to good corporate administration has been proven incorrect by the high degree of corruptness, fraud and dirts in Cameroon and in other parts of the universe. The credence of corporate administration codification by most companies in the private sector is merely a conformity and non an reading that the companies will oblige t hemselves to good ethical concern patterns ( Rossouw, 2005 Gatamah, 2008 Iyang,2009 ) .In Cameroon, over 70 % of the companies listed in the Douala stock exchange have a adopted the corporate administration codification but there are still incidences of frauds, embellzement, deficiency of answerability and unity.2.5 Corporate Governance EnvironmentHarmonizing to Li and Nair, ( 2009 ) , corporate administration environment takes in to consideration the consequence of factors like the state s political system, the economic stableness and socio- cultural factors that can heighten good administration or prevent unethical concern operations ( Li and Nair,2009 ) .Therefore corporate administration environment embodies the state s political, economic, technological, societal and legal systems that affect ethical concern patterns in corporations ( Amaeshi and Amao, 2008 Wilson, 20006 ) .Corporate administration so serves as a barometer to mensurate the company s overall public presentati on, their strategic pick, determinations and actions. Though the political, economic and socio-cultural consequences of the freshly formed corporate administration codifications in Cameroon are still under probe, the codifications are created or formed to safeguard companies against sick duties like corruptness, environmental maltreatment, and companies misdirection ( Gatamah, 2008 Andreason, 2009 ) .2.6- The Development of the Concept of Corporate GovernanceDue to cultural, political, economic and technological differences between states, the thought of corporate administration was adopted but with major fluctuations, as a consequent, a assortment of corporate administration model was complete. However two major attacks of corporate administration patterns is identified with fluctuation originating merely on the different legal systems at work in assorted statesHarmonizing to Solomon and Solomon, ( 2004 ) , Department of Treasury ( ,1997 ) states that patterns common jurisprude nce like united provinces of America, united land, Canada, and Australia develop a type of corporate administration construction which focuses on stockholder s involvement ( return ) .In this respect, corporate administration has to guarantee that the company achieves the aims set by the stockholders. This type of corporate is is known as foreigner theoretical account of control as it recognizes the spread between the troughs of a house and its proprietors ( Department of Treasury,1997 ) .On the contrary, states with civil jurisprudence such as Germany, France, and Netherlands develop their corporate administration which focuses on stakeholders. In this respects, corporate administration has to equilibrate the involvement of cardinal groups like the employees, directors, creditors and clients ( Solomon and Solomon,2004 ) .This attack is called insider theoretical account of control since it recognizes that the greater control in the house is held by those closer to its existent work ing ( Department of Treasury,1997 )However the two attacks have some similarities. For case, they both opted for the fact that the direction boards of the house were to be elected by the house s stockholders to put policies and so depute to the direction the full authorization to pull off the house ( Hilmer,1998 ) .Anyway, it was realized that most states adopted a system of corporate administration with the mixture of the two extremes ( Solomon and Solomon,2004 )Nowourdays, corporate administration is an international issue because of concern globalistion.3It is seen to play a major function in the direction of companies in both developed and less developed states. However, Davis and schlitzer ( 2008 ) pointed out that corporate administration patterns are non unvarying crossways states, that each state tend to follow corporate administration processs based on factors like the state legal system, the fiscal system of the state, the state cultural and economic state of affairs and the corporate ownership construction of the state ( the organisation for economic cooperation and development,1998 ) .Section B Audit Committee2.7-The Operationss of audit commissionsThe audit commissions has as it prime minister map to help the board in carry throughing its inadvertence duties. By so making, they review the fiscal information that has to be provided to the stockholders, other stakeholders and to the system of internal controls that has been established by the boards of managers and the direction ( hit, 1999 )Bean ( 1999 ) pointed out some of the general duties of audit commissions-The audit commission has to supply an unfastened ambiance for communication between internal hearer, independency hearers and the board of managers.-They have to describe actions to the BODs and do some recommendations-The commission have the power to transport out or authorise probes in affairs within the commission s range of responsility.The audit commission has to retain an indepen dent advocate and comptroller if needed to help in an probe2.7.1- The charterIn developing states, audit commission s faces a batch of troubles in transporting out their maps because of deficit in accounting accomplishments ( waweru, Hoque and Uliana, 2004 ) .A batch of writers have undertaken surveies on the inadvertence duties of audit commissions.Most of these surveies reveals that there is a broad fluctuations in sensed and declared duties.According to Kalblers and Fogarty ( 1993 ) survey, the duties of audit commission include inadvertence of fiscal coverage, internal controls and external hearer. light beam coopers and Lybrand ( 1995 ) and Dezoort, Hermanson, Archambeault and Reed ( 2002 ) in their survey found out that the duties of audit commissions revolved chiefly in countries of fiscal coverage, scrutinizing and overall corporate administration.It has being argued by laugh at and Burke ( 2001 ) that all companies with audit commissions must develop a seamster made chart er that describes the commissions composing and specifies entree to allow resources. The charter has to be pass by the board which so serves as a usher to the commission in transporting out the assorted duties delegated to them by the full board of managers.According to Bean ( 1999 ) , oecumenical charter enhances effectual public presentation of the audit commission, serves as a roadmap for members of the commissions by doing a clear definition of the duties and supply a systematic treatment construction among the commission and the direction every bit good as public comptroller ( Bean,1994 ) . A charter helps scrutinize commissions members to concentrate on their stipulate duties and besides the charter enable or assist stockholders in measuring the function and duties of audit commissions ( KPMG,1999 ) . In Cameroon, audit commissions authorization is gotten from capital market act which requires that some authorization has to be delegated to the audit commission by the board.2 .7.2- The composingHarmonizing to Joshi and Wakil ( 2004 ) , one of import variable of composing of the audit commission is the inquiry of independency ( joshi and wakil, 2004 ) . Br aiotta ( 1999 ) pointed out that the effectivity of an audit commission depends on the background of the commission s members which have to dwell of both fiscal and non fiscal skilled people ( Braiotta,1999 ) .The mastery or failure of the commission s operation relies on the president, hence great attention has to be taken when taking the president ( Braiotta,1999 ) .According to Braiotta ( 1999 ) , the figure of audit commission member depends on the duties and authorization of the commission and besides on the size of the board and the company. The figure of the members vary from one state to another ( Braiotta,1999 )There are turning statements on whether the commission members should be independent as advocated by Bean ( 1999 ) , the Blue Ribbon ( 1999 ) every bit good as it was adopted in Cameroo n by the Capital Market Act in 2001 ( Hussein,2003 ) or should it depend on the environing fortunes of a peculiar company ( Attwood,1986 ) .According to Bean ( 1999 ) , an independent manager is one who is free from any relationship that can act upon his or her judgement as a member of the audit commissions ( Bean,1999 ) .However this is hard to find ( Pomeranz,1997 )In Cameroon, the issue of independency of most managers is been affected by that fact they serves as managers in more than one listed company. This is as a consequence of deficit in skilled human resources capacity in Cameroon and besides due to the fact that most listed companies in Cameroon are little in size therefore doing it hard to pull people with qualified accomplishments.2.7.3-The Qualification and Experience.There are different point of views on the demand of fiscal literacy as a making for audit commission members. The Blue Ribbon commission ( 1999 ) recommended that all audit commission members has to be fin ancially literate. Harmonizing to Rezaee et Al ( 2003 ) , fiscal literate is define as the ability to read and understand fiscal statement. However Herdman ( 2002 ) questioned the issue of whether the demand about fiscal literacy of audit commission members by the capital markets went far plenty. On the contrary, Jonathan and Carey ( 2001 ) argue on whether in a universe of of all time more complicated accounting criterion, where even to the full trained comptroller can fight to understand, if this is a realistic and a necessary demand as a member of the audit commission ( Jonathan and Carey,2001 ) .In USA, surveies were carried out in countries of experience and skill. The United states General Accounting Office ( GAO ) ( 1991 ) found out that over half of the 40surveyed audit commission chairs from big US Bankss reveals that their audit commissions were runing with no members with expertness in accounting, scrutinizing and jurisprudence inadvertence ( GAO,1991 ) .2.7.4- Meeting a nd ReportsHarmonizing to Guy and Burke ( 2001 ) , audit commissions have to schedule meetings two to four quantify per twelvemonth depending on their range of activities and the company size. Graziana ( 2004 ) argued on the point that audit commission has to run into more often, both officially and informally.Formal meeting has to be held a least 4 times and sometimes up to 12 times per twelvemonth, this 4 meetings are in individual and last for about 4 hours. ( Graziana,2004 ) .These meetings must include the elderberry bush direction, external hearer and the internal hearer ( Graziana,2004 ) .Furthermore, the board has to depute the authorization ot the audit commission to keep particular meetings as needed ( Guy and Burke,2001 ) .Some surveies have being carried out on the frequences of audit commission meetings.Menon and Williams ( 1994 ) made a research on 200 companies and found out that the figure of audit commission meeting was increasing as the figure of outside managers increased ( menon and Williams,1994 ) .Studies have shown that meeting frequence is positively related to the company s size, monitoring and the demand of audit commission meeetings. Price WaterHouse Cooper ( 1999 ) saw that audit commissions in European companies meet averagely 3 to 4 times per twelvemonth.The audit commission s study has to be addressed to the BODs and must include their findings and recommendations sing the effectivity of the maps of internal and external hearers and other countries within the commission s legal power as stated in the charter. Besides, the study has to establish on the engagement of the members in audit panning procedure and their monitoring activities ( Braiotta,1999 ) .2.8-The Relationship with Management, Internal hearer and outside(a) hearer.Harmonizing to Blue Ribbon commission ( 1999 ) , a company can merely accomplish quality fiscal coverage when there is an unfastened and blunt communicating every bit good as a co-working relationship be tween the board of managers, audit commissions, the direction, internal and external hearers. It has being argued Rezaee et Al ( 2003 ) that the most effectual attack is for the audit commission to work in coaction with the direction and the hearers to enable them place complex activities of the company, identify and asses the comparative hazards, find the accounting intervention and besides to acquire a complete apprehension of their impact on free and just presentation of fiscal public presentation in order to cut down deceitful activities ( Rezaee et al,2003 ) .Members of the audit commissions have to be sufficiently knowing to inquire tough inquiries to the direction every bit good as the internal and external hearers sing the study quality, transparence and the dependability of the studies. However, in developing states like Cameroon, most of the listed companies are institutionally have and these establishments are owned by the authorities, as a consequent, some members serve s in the board due to their virtue place in the authorities and non because of their making or experiences.Braiotta ( 1999 ) stated that the audit commission has to be independent from CEO, nevertheless the CEO holds the best information beginning related to the concern and they guarantee speedy respond to the petition of the audit commission, therefore doing the relationship with the CEO the key. ( Braiotta,1999 ) .The BODs has the duty of reexamining the overall effectivity of internal controls system but in world, the board can depute this duty to the audit commission ( Zaman,2001 ) .The board so has to make up ones mind on the function of audit commission in the reviewing procedure, the function of audit commission in the reappraisal procedure besides depends on factors like the size, the board composing and the nature of the company s chief hazards ( Zaman,2001 ) .Harmonizing to Braiotta ( 1999 ) , it is necessary and of import for the audit commission and the hearers to set up a good working relationship that is non counterproductive ( Braiotta,1999 ) .There is a co-relationship between the plants of the audit commissions and independent hearers because they both have common fiscal aims. Following the Sarbabes-Oxley Act in the United States, it is legal for the hearers to describe to the direction. The audit commission has to O.K. all services both audit and non-audit, they get all rude(a) accounting and scrutinizing information from the hearers and they besides serve as an o official communicating line between the company and the hearers ( Tackett,2004 ) .The fact that the audit commissions are given the authorization in doing determinations about hiring and firing the hearers, has removes from the direction the ability of endangering the hearer with dismissal if the hearers fails to execute to the direction best involvement, moreover, the audit commission are indispensable to do blessing to all payments made to hearers for their services like scrutin izing therefore doing it hard for direction ot bargain unneeded services from hearers with the hope that the hearers will give them some favourable interventions, in conclusion, the fact audit commissions are required to cover with any dissension between the direction and the hearers, makes it hard for direction to look in questionable accounting patterns. Knapp ( 1987 ) made a surveyed on 179 audit commissions members and found out that, when there is audit difference, the audit commission tend to back up the hearers and non the direction.2.9- The Major Accomplishments and Challenges confronting audit commissionsSeveral sentiments has being raise sing the utility of audit commissions.According to Guy and Burke ( 2001 ) merely 22 % of the executive managers of FTSE 100companies have the construct that audit commission are helpful in accomplishing good corporate administration while 78 % remain unconvinced about the value of audit committees.However,89 % of the non-executive managers in FTSE 100companies have the believe that audit commissions are critical or helpful in accomplishing quality administration ( Guy and Burke,2001 ) .Menon and Williams ( 1994 ) carried out a survey on whether companies depends on the study of their audit commission, this survey reveals that companies do non trust on their audit study though they voluntarily formed the commissions, therefore these commissions were established for other intents. ( Menon and Williams,1994 ) .According to Joshi and Wakil ( 2004 ) , audit commissions are widely used in big companies and in companies with higher proportion of no executive managers ( Joshi and Wakil,2004 ) .Due to the demand of corporate administration in companies, a batch of force per unit area is being mounted on audit commissions in supervising the unity of the house s fiscal coverage activities. There are higher outlooks from the non-executive managers functioning as audit commissions members ( Jonathan and Carey,2001 ) .It is recogn ize that the duties of audit commission are increasing which has to make with affairs refering hazard direction, internal control, other regulative demand, the independency of external hearers and besides the move to international accounting criterion ( Jonathan and Carey,2001 ) .Furthermore, many stakeholders are interest in the house s activities but with different dockets therefore doing it more complex and hazardous helping in audit commission or on boards. The Sarbane-Oxley for case provinces that failure to execute will ensue to legal actions.Rezaee et Al ( 2002 ) pointed out that the inclusion of the study of audit commissions in proxy statements serves as challenges for the audit commissions. The commission members do non exert their full engagement in the readying of the fiscal statements therefore increasing their hazard ( Rezaee et al,2002 ) .2.10-ConclusionSurveies carried out in developed states shows that good corporate administration reduces deceitful gaining directi on ( Rezaee et al,2003 ) . In fact, the corporate failures in some high net income companies are attributed to miss of argus-eyed inadvertence by the boards. It is instead unfortunate that there exist no empirical survey on the overall effectivity of corporate administration in Africa, Mangema and Chammisa ( 2008 ) observed that because of state differences in Africa, it will be much nicer and clear to analyze the assorted administration constructions individually in every state. This survey tries to bridge the spread in anterior survey by adding more in our apprehension of the operations and the major accomplishments of audit commissions in Cameroon.A batch of empirical surveies have being carried out refering the operation and the functions of audit commissions in different states. For case, in Canada, Maingunt and Zeghal ( 2000 ) investigated the aims, composing, choice, frequence of the commission meeting, the relationship of audit commission with direction and hearers. ( maingu nt and zeghal,2000 ) .The old research in developing states did non turn to the point on how audit commissions relate with the direction, internal hearer and external hearers. In this survey, we want to make full in this spread by look intoing how audit commissions in Cameroon listed companies relate with the direction, internal hearers and external hearers.Chapter 3 The Theoretical models for Corporate Governance andAudit Committee3.1 IntroductionThe bureau theory have influenced novel believe about concern direction and policies. This tides that directors do non ever move to stockholders best involvement unless suited administration constructions are imposed to safeguard stockholders public assistance. ( Jensen and meckling, 1976 ) .The BODs have a great function to play here more particularly in the relationship among president and the CEO ( Tricker,1984 ) .the involvement of stockholders can merely be protected when the board chair is non detained by the CEO or when both the st ockholders and the CEO have the same involvement ( Williamson, 1985 ) .Harmonizing to Berles and agencies ( 1932 ) a individual stockholder can non exert control over a house whose capital is expeditiously and sufficiently dispersed. Therefore capital scattering allows directors to exert illicit power on behalf of stockholder. Directors determinations and actions are been monitored and evaluated by the audit commission formed by the board.The audit commission so serves as a nexus between the direction and the board and besides to protect stakeholders welfare.. The bureau theory and the stewardship theory are two finance theories that covers the construct of corporate administration and the function of audit commission to heighten good administration.3.2 The Agency theoryAgency theory can be define as a contract in which one individual ( the principal ) engages another individual ( the agent ) to execute some services on his or her behalf ( Jensen and meckling,1976 ) . Harmonizing to Kiel and Nicholson ( 2003 ) , due to the separation of control and ownership maps, directors has to pull off the house on behalf of the house s proprietors. However conflicts ever arises when the directors are non pull offing the house to the proprietors best involvement ( Eisenhardt,1989 ) .The bureau theory therefore is more concern in analysing and work outing jobs or struggles that occurs between houses proprietors and directors. By so making, the bureau theory assumes that the function of a company is to maximise stockholders wealth ( Blair,1995 )The bureau theory relay on the fact that, most concerns are runing with uncomplete information and with a batch of uncertainness. These conditions so exposes the concern to two major bureau jobs inauspicious choice and moral jeopardy. The job of inauspicious choice occurs when the stockholder ( chief ) can non determine whether or non he director ( agent ) accurately stand for his or her ability to make the occupation for which he or she is being paid for ( Eisenhardt,19989 ) .Moral jeopardy on the other manus is when the stockholder ( chief ) is non certain that the director ( agent ) has put forth his or her maximal attempts ( Eisenhardt,1989 ) .According to this theory, directors have superior information that which let them to hold advantage over the house s proprietors, directors may so be more motivated to fulfill their single public assistance instead than the public assistance of the stockholder ( Berles and means,1967 )It has being argued by Donaldson and Davis ( 1991 ) that unless quality corporate administration constructions are implemented to safeguard stockholders involvement, directors will non ever move to maximise stockholders returns. In this respect, the bureau theory supported that the intent of corporate administration is to cut down the potency of directors moving reverse to stockholders involvement.The bureau theory further argued on the point that, top direction of the house must hold im portant portion of the house so every bit to keep a positive relationship between corporate administration and the figure of stock owned by the top direction ( Mallin,2004 ) .According to Wheelen and Hunger ( 2002 ) , conflicts or jobs ever occurs in a company when the top direction is non willing to be held responsible for their determinations unless they have a sensible sum of stock on the company ( Wheelen and Hunger,2002 ) .The bureau theory besides advocated for the regulations and inducements that align directors behaviours with the involvement of stockholders ( Hawley and Williams,1996 ) , nevertheless it is practically impossible to compose down the regulations that governs all the scenarios that the employees brushs3.3 Evidence on struggle of involvement between stockholders and directors.following theoretical sentiments on the motivations for struggles of involvement among stockholders and directors, a good figure of research have reveals plenty proof proposing the happeni ng and significance of bureau struggles between companies stockholders and directors related with hazard disagreement, privilege and fiddling problem.these research centres their findings on the struggle of involvement sing affairs of payment, variegation, and investing3. 3.1 Conflicts of involvement over compensationA batch of surveies observe the association between directors, compensation and company public presentation and consequences shows regularity with conflicting involvements between stockholders and directors. A typical research is that conducted by Jensen and Murphy ( 1990 ) .this survey found a weak relation between directors compensation and public presentation. To intensify this, there is the persuasive evidence that directors wealth are more sensitive to the size of plus than to the market value ( Jensen and potato, 1990 ) , this so opposes Rosen s ( 1982 ) premiss that the size and wage relationship is because large companies employ more able executives. Agrawal a nd Knoeber ( 1998 ) perceive that coup detat menace have two beliing make on managerial compensation. The first premiss is that of the consequence of market competition for directors, this leads to less ability for troughs to demand higher wages.the 2nd premiss is that of hazard consequence which in contrasts leads to higher compensation due to the fact that higher coup detat menace can increase the likelinesss of a house losing its specific human capital or compensation deferral. This so oblige manages to bespeak for higher rewards to counterpoise the high hazards. ( Agrawal and Knoeber ( 1998 ) .Following the study that was carried out by Agrawal and Knoebe ( 1998 ) on 450 companies which were divided in to two, ( one set where directors see both effects of hazard and competition and the other set where troughs faced merely the consequence of competition in the market ) .According Agrawal and knoeber ( 1998 ) , the both effects are of import. everything being equal, through the c onsequence of competition, lower coup detat menace consequence to higher rewards which is in harmoniousness with the point of view of misalignment of stockholders involvement and troughs involvement.3.3.2 Conflict on variegation and wealth reduction investingAnother chief of struggle between stockholders and troughs is on the variegation schemes. There are theoretical claims that variegation have both costs and benefits to houses proprietors, nevertheless, bing cogent evidence suggest that the costs are more than the benefits. there is the averment that holds that, on an averages footing, variegation costs are far higher than the benefits, Morck, Shleifer and Vishny ( 1990a Bhagat, shleifer and Vishny ( 1990 ) servaes ( 1996 ) all found out that corporate variegation is associated with significant value loss.Some cogent evidence of bureau jobs can be found in acquisitions and investings. Several surveies have reveals that purchaser return from the announcement of acquisition are ne gative ( Roll, 1986 ) .According to Jensen ( 1986 ) the nastiest bureau jobs arise in companies with hapless investing gaps and excess cash.it was argued by lang, stulz and walking ( 1991 ) that buyer returns are likely to be lower when companies have small Tobin Qs and greater hard currency flows. On the other manus, McConnell and Muscarella found cogent evidence of wealth cut downing investing in oil geographic expedition, this is particularly when troughs holds small ownership bets ( Lewellen, Loderer and Rosenfeld ( 1985 ) .3.4 The stewardship theoryThe stewardship theory holds a different attack from that of the bureau theory, it foremost premiss is that, the company serves a big scope of societal intents instead than merely seeking to maximise the wealth of stockholders. The stewardship theory besides called the stakeholders theory assumes that corporations are societal entities that affect stakeholders welfare and stakeholders are persons interacting with the houses straight, hence, they can impact or affected by the accomplishment of the house s aims ( Donaldson and preston,1995, freeman,1984 )Harmonizing to Starik and Rands ( 1995 ) , a company s success can be judge by its ability to add stakeholders value ( starik and rands,1995, Dunphy et al,2003 ) .stakeholders will merely return to a house for more when they ever get what they wantFreeman,1984, freeman and Mc Vea,2001 ) .Hence stakeholders are regarded as instrumental to corporate success and they tend to possess some moral and legal rights ( Donaldson and Preston,1995, Ulrich,2008 ) .Companies direction have to take in to consideration the claims or concern of stakeholders in their determination devising procedure ( Blair, 1995 ) , stakeholders participation in the company s determination devising procedure heighten better efficiency ( Turnbull,1994 ) and besides reduces struggles ( Rothman and Friedman, 2001 ) .A company can utilize two attacks when sing or integration stakeholders in their det ermination devising ( kaptein and van Tulder,2003 ) . These two attacks are reactive and proactive attack. Reactive attack on one manus is when the concern of stakeholders are non considered or integrated in doing corporate determination. This normally leads to misalignment of the company s aims and the demands of stakeholders ( Mackenzie,2007 ) .The dirts of universe com was attributed to the fact that they neer integrated the stakeholder concern in their determination devising procedures ( Curral and Epstem,2003, Turnbull,2002, walkins,2003 and Zandstra,2002 ) .In respond to these dirts, some ordinances were set up by authoritiess with the purpose of alining stakeholders involvement with corporate aims. For case, the Sarbanes-Oxley Act. On the other manus, the proactive attack is when companies integrate the concern of stakeholders in their corporate determination doing procedure, therefore establishes a good corporate administration construction ( de humor et Al, 2006 ) .3.5 Summ ary of the theories.The cognition of bureau theory can be credited to Coase ( 1937 ) nevertheless the thoughts of this theory was practical merely to managers and boards since the 1980s.Following. bureau theory, persons are self-interested and non selfless, therefore persons can neer be trusted to ever move in others best involvement. On the other manus, , persons will ever desire to maximise their public-service corporations maps, the bureau theory considered directors and stockholders relationship as a contract ( Adams, 2002 ) . This means that directors actions must be decently monitored to vouch that they ever act in stockholders best involvement.The stewardship theory on its portion opted that company s board of managers and their Chief executive officer, moving as stewards, are encouraged to move in the company s best involvements and non seeking to fulfill their selfish involvements. This is partially because, antecedently senior executives regarded companies as an extension of themselves ( Clarke, 2004 Wheelen & A Hunger, 2002 ) .The stewardship theory hence suggested that, like stockholders, top direction of a company should care more on the future success of the company ( Mallin, 2004 ) .Chapter 44.1 Corporate Governance issues in Developing Countries ( Cameroon )Harmonizing to Wallace ( 1990 ) , developing states are defined as those states found in mid-stream of development and are referred to anamorphous and heterogenous group of states found largely in Africa, Asia, Latin America, Middle East and Oceanea. There exist difference between developed and developing states in footings of civilization, political relations and market economic sciences ( Waweru and Uliana,2005 ) .Due to miss in skilled human resources, developing states hence find it hard to pull forces s poetry with accounting and fiscal accomplishments in their commissions. The cultural fluctuation between extremely individualistic states ( like North America ) and extremely collecti vized states ( like Africa ) necessitate different corporate administration agreements. Rabelo and Vasconcelos ( 2002 ) pointed out factors like economic tendencies towards globalisation, under developed capital market every bit good as authorities intercession has made the theoretical account of corporate administration to differ from those in European states and North America. Mensah ( 2002 ) argued that states in Africa are non good equipped in implementing the sort of corporate administration found in the western universe because of the economic and political governments qualifying these states ( illustration weak deceitful legal and judicial governments, province ownership of companies as good limited capacity in skilled human resources. ) .Corporate administration constructions in less develop states are determined by the ardor to keep control by the bulk stockholders over houses, the dependant on debt finance, weak fiscal markets and uneffective legal system ( Rabelo and Vasc oncelos,2002 ) .Developing states are ever confronted with jobs like less developed and illiquid capital markets, economic uncertainnesss, investors protection every bit good as weak legal and judicial control system ( Tsamenyi et al,2007 ) .Harmonizing to Goddard and Masters ( 2000 ) , audit commissions has become more relevant and prevailing recently but nevertheless there is dearth in the empirical research about their value. Kalbers and fogarty ( 1993 ) further indicated that the issue of whether audit commissions are truly dispatching their relevancy duty remain insufficiently understood, proposing therefore the demand to analyze the ways audit commissions are runing in developing states like CameroonIn Cameroon, most companies are owned by establishments and such establishments are owned by the province ( authorities ) , hence most board members are functioning the place as direction of stockholders non because of their making neither their experiences ( Mensah,2002 ) .Audit c ommissions operations in developing states are different compared with the patterns in developed states.In 2001, the Cameroon capital market authorization gave guidelines sing corporate administration activities for listed companies.one of this guideline was that which called all boards to organize audit commissions consisting at least three independent non-executive managers.Figure 2, corporate administration ( CG ) fram work in Cameroon4.2 The legal and Regulatory Framework of corporate administration for listed companies in CameroonCameroon operates under two systems of Torahs viz. the common jurisprudence and the civil jurisprudence. The bilingu