Macroeconomics Essay Example | Topics and Well Written Essays - 500 words - 11

Macroeconomics - Essay Example In 2012, the performance for 2nd quarter was almost 50% lower than that of the first quarter. It appears that the most significant growth takes place in the 4th quarter. That happened in 2009 and 2011, but certainly not in 2012. In 2010, the growth rates were somewhat evenly distributed in each of the four quarters. Because of the recent thrust of the Federal Reserve to provide stimulus funds for the attainment of the ideal of full employment, 2013 should have a much higher growth rate and lower unemployment rate. On a per quarter basis, there is a 50% probability that the growth rate in the 2nd quarter will be higher than the first quarter. Since the 2nd quarter was lowest in 2009 and 2010, lower than the first quarter in 2012, but higher in 2011 than the first quarter, the probability of having a lower GDP growth rate is 75%. The 3rd quarter will be higher than the 2nd quarter and most probably higher than the 1st quarter since this is what happened in the past four years. By the 4th quarter, assuming no major calamities will disturb business operations, USA real GDP should experience the highest growth rate so far since the time of the recession. First, it is because the Fed has been supportive of the need for more money supply. There is a determination to bring down the unemployment rate in the USA. The People have been complaining about the high unemployment rates and performance of the Monetary Board in easing the financial difficulties of the country for several years now. Secondly, the government is more prepared to adjust to unfavorable climate changes. And thirdly, there has been news about improvements in the way the economic problems in Europe are being handled, e.g. the way Greece economic crisis is being resolved. Europe is a major trading partner of the

The role of Internal, External and Forensic Auditors Essay

The role of Internal, External and Forensic Auditors - Essay Example Auditors play a significant role in the deterrence of fraud. They assist in risks detection and monitoring, control and regular testing of internal processes and suitable follow up for the purpose of dealing with weaknesses in the system. There are three types of the audit; these include internal, external and forensic audit (Weightman 2008 p 38). This literature review presents a critical evaluation of the roles of the professionals involved in the three types of audit. An organization’s management decides the role of internal auditors whose objectives are usually different from those of external auditors who are chosen to give an independent report regarding the financial statements (Wholey et al 2004 p 66). They work towards satisfying the requirements of the management. Internal auditing is used by organizations as a strategy to assist the organization to accomplish its objectives. The internal auditors, therefore, are in charge of using the systematic methodology designed by the management to analyze the organizational processes, actions, and events with the main goal of identifying organizational problems and suggesting possible solutions. These are independent authorities that conduct regular checks on an organization’s records and books of accounts depending on the agreed procedures for external auditing. These auditors are usually concerned with attesting that there are no substantial misstatements in the books of accounts (Sawyer et al 2003 p 91). They provide essential information about the efficiency of the in-house controls in regard to financial reports, precision and punctuality in transaction recording, and the precision and wholeness of reports regarding monetary and regulatory issues. They also offer an independent and non-subjective opinion in regard to the activities of an organization, as well as vital information for the maintenance of its risk management processes (Weightman 2008 p 88).