New World Order Essay Example | Topics and Well Written Essays - 500 words

New World Order - Essay Example Fukuyama (1989) presents the most positive view, based on the perception that something fundamental has changed, and that a new world order is emerging in which history as we have known it is now ended, along with the regrettable tendency of major superpowers to wage terrible wars with each other. For Fukuyama the new order will be a global state ideology based on Western liberal values, since no other ideology can now compete with it. Mearsheimer (1992) agrees that the nation state has lost some of its power, and that world politics is much more integrated than it has previously been. There are, however, many states in the third world which are outside the mainstream, and armed conflict is likely to arise there in the future as it has in the past. He cites the power of global markets as a mechanism that unifies the major world players, but he does not view this as necessarily being a cause for optimism. Competition is built into the economic view of the world, and this will cause friction and ultimately result in military activity even among the established actors. In particular he notes the end of bipolar stability and the arrival of amultipolar and unequal distribution of power. The distribution of nuclear weapons combined with this new instability is seen as grounds to worry about future tensions.

Internal Control Over Financial Reporting Essay

Internal Control Over Financial Reporting - Essay Example The editing paper "Internal Control Over Financial Reporting" talks about the internal control over financial reporting and performing an integrated audit of Ford Motor Company and Toyota Motor Corporation. According to the Securities and Exchange Commission, disclosure procedures and controls includes those procedures and controls put in place to ensure that the information required to be availed in financial reports is processed, recorded, summarized and reported within the required timeframe as stipulated in the SEC rules. These procedures and control policy have an organized framework that enables an issuer to disclose the information required in the Exchange Act reports. The accumulated report is presented to the management of the issuer who include financial and principal executive officers within an appropriate time limit that enable implementation old decisions on the required disclosures. Despite their differences, internal controls and disclosure control overlap over financial reporting. Therefore, inherent limitations are those unintentional errors or intentional misstatements that may reflect in financial reports despite proper design and monitoring process. Comments on these limitations on financial report and statements aim at highlighting the impossibility of a 100% assurance control system, and that the information in the statements is material-error free. And the assurance that internal control does not contain any material weaknesses is essential to a management team.