• Title/Summary/Keyword: Going Concern Opinion

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Opinion Shopping, Prior Opinion, Audit Quality, Financial Condition, and Going Concern Opinion

  • HARDI, Hardi;WIGUNA, Meilda;HARIYANI, Eka;PUTRA, Adhitya Agri
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.11
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    • pp.169-176
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    • 2020
  • Business going concern is an important issue to be addressed since it determines how companies will survive. One indicator of the going concern problem is going concern opinion. The going concern opinion is a result of evaluation of auditors on going concern assumption of financial reporting. This research aims to examine the effect of opinion shopping, prior opinion, audit quality, and financial condition on going concern opinion. Research sample consists of 80 listed manufacturing companies on the Indonesian Stock Exchange surveyed between 2013 and 2017. Analysis data uses logistic regression. Based on the result, prior opinion affects going concern opinion, while opinion shopping, audit quality, and financial condition have no effect on going concern opinion. The significant effect of prior opinion on going concern opinion indicates that auditors consider the evaluation of the previous condition of companies' concern problematic since going concern is hard to be solved in a short-term period. This research provides recommendations for companies to increase their business ability so going concern problem can be avoided. This research also suggests to auditors to consider prior opinion to issue current opinion since previous companies' condition can be used as a general picture to initiate the auditing process.

Obstacle of a train crew & Vehicle Operation For Improvement Program In Seoul metro (서울메트로 승무.차량 운전장애에 대한 개선방안)

  • Lee, Tai-Sik;Park, Min-Seo;Bae, Woo-Byeng;Kim, Dong-Seok;Kim, Jun-Taek
    • Proceedings of the KSR Conference
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    • 2007.05a
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    • pp.1168-1173
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    • 2007
  • The Seoul Subway is one of the most heavily used Subway System in the world. It provides reliable transportation services, conveys nearly 4 million Passengers across 117 subway stations with a length of 134.9 Km. Over the years the safety for the Subway has been a major concern, trains going off the track, equipment failure, careless operation, Signal failure are increasing day by day. In a Recent Public opinion 40% said the causes to above facts are Vehicle breakdown because of Operators, Old rail defect, Quality of material. 20% of the opinion said the obstacles were because of Operation, crew carelessness, negligence in signal operation. In case of any accident the crew members cannot resolve the issue on site (Aid insufficiency), because of lack of knowledge and carelessness. The main obstacles for Subway are vehicle breakdown, Electric equipment failure, Signal Equipment failure, and Crew carelessness. This paper aims to provide major problems which are needed to be solved as quickly as possible for citizen's safety for a comfortable subway system making a comfortable ride and providing better service gradually.

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The effect of Internal control over financial reporting on probability of firm failure (내부회계관리제도가 기업실패가능성에 미치는 영향)

  • Kim, Hyun-Jin
    • Management & Information Systems Review
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    • v.33 no.1
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    • pp.173-190
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    • 2014
  • According to COSO(2013) "Internal control is a process that is designed to provide reasonable assurance that a firm can achieve its objectives, where differing aspects of internal control can be partitioned into operating objectives, reporting objectives, and compliance objectives." Internal control over financial reporting(ICFR) is focus on reporting objectives and includes that provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company's assets that could have a material effect on the financial statements. Thus, firms with weak ICFR have negative a effect on Firm value because those firms are great likelihood of misappropriation and inefficiency decision. In this regard, this study investigates the association of ICFR with the likelihood of firm failure. Specially, I measure the characteristic of ICFR as disclosures of material weaknesses and operating personnel of ICFR. I identify the likelihood of firm failure as going-concern opinion issued in audit report. As result, I find that a higher probability of firm failure is positively associated with the material weakness in ICFR also I find that a higher probability of firm failure is negatively associated with experience and qualified CPA of personnel in ICFR.

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Neurotransmitter and Neuroendocrine Markers as Predictors of Therapeutic Responses In Psychiatric Disorders (신경전달물질 및 신경내분비 Marker를 이용한 치료반응의 평가)

  • Han, Chang-Hwan
    • Korean Journal of Biological Psychiatry
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    • v.2 no.1
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    • pp.3-19
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    • 1995
  • Numerous investigators have conducted extensive investigation in the search for biological markers in psychiatric illness. There are, as a test of q biological approach to the diagnosis of the psychiatric illness, tests for the neurotransmitters, their metabolites, and related enzymes, the neurotransmitter receptors, the neuroendocrine output and response, the membrane transport, peptides and eletrolytes. They are called the biological markers, and they are helpful for the diagnosis or differential diagnosis, choice of treatment or drugs, symptom improvement, predictor of recurrence and anticipation of suicidal attempt. These studies are among the main purposes that are pursued in the neuroscience and based on the potential utility of the biological markers mentioned above. Since 1970's, lots 01 biological markers' studies for the diagnosis, differential diagnosis or subtypes differentiation have been done but varieties of different opinions have been drawn since then through they could explain the charaters of main psychiatric illness(especially schizophrenia and mood disorder). But, the search for biological markers, including displines of neuroendoclinology and neurochemistry(neurotransmitter and thair metabolite), has yielded a number of putative trait merkers and state markers for psychayric illness. This paper aims to anticipate or evaluate the good response to the therapy(Therpeutic response) with lots of markers. Acoording to the diagnosis of lots of diseases or subtypes, we are going to review the papers, mainly concern with 'Is there any Marker' or 'Is any test possible to detect the improvement clinically?' 'Is it possible to predict the recurrence or good prognsis?' or 'Is it possible to select any drug or therapy to bring the good response?' The biological tests to review are mainly the metabolites of catecholamine neurotransmitter, and especially neuroendocrine test based on the knowledge that hormons of the adenohypophysis are influenced by activity of the cerebral or limbic neurons as well as the hypothalamus ones. Among them, author introduced some clinically available tests that are DST, TRH stimulation test(TRHST), GH stimulation test, and the urine MHPG test that can give us the evaluation of the treatment response, the predictor for recurrence or choice of drug that can bring a good response. So author discussed thair potential utility in clarifying, therapeutic, and prognostic issues in psychatric illness. We hope they'll be used and look forward to more active study on the different opinion.

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A Study on the System of Aircraft Investigation (항공기(航空機) 사고조사제도(事故調査制度)에 관한 연구(硏究))

  • Kim, Doo-Hwan
    • The Korean Journal of Air & Space Law and Policy
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    • v.9
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    • pp.85-143
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    • 1997
  • The main purpose of the investigation of an accident caused by aircraft is to be prevented the sudden and casual accidents caused by wilful misconduct and fault from pilots, air traffic controllers, hijack, trouble of engine and machinery of aircraft, turbulence during the bad weather, collision between birds and aircraft, near miss flight by aircrafts etc. It is not the purpose of this activity to apportion blame or liability for offender of aircraft accidents. Accidents to aircraft, especially those involving the general public and their property, are a matter of great concern to the aviation community. The system of international regulation exists to improve safety and minimize, as far as possible, the risk of accidents but when they do occur there is a web of systems and procedures to investigate and respond to them. I would like to trace the general line of regulation from an international source in the Chicago Convention of 1944. Article 26 of the Convention lays down the basic principle for the investigation of the aircraft accident. Where there has been an accident to an aircraft of a contracting state which occurs in the territory of another contracting state and which involves death or serious injury or indicates serious technical defect in the aircraft or air navigation facilities, the state in which the accident occurs must institute an inquiry into the circumstances of the accident. That inquiry will be in accordance, in so far as its law permits, with the procedure which may be recommended from time to time by the International Civil Aviation Organization ICAO). There are very general provisions but they state two essential principles: first, in certain circumstances there must be an investigation, and second, who is to be responsible for undertaking that investigation. The latter is an important point to establish otherwise there could be at least two states claiming jurisdiction on the inquiry. The Chicago Convention also provides that the state where the aircraft is registered is to be given the opportunity to appoint observers to be present at the inquiry and the state holding the inquiry must communicate the report and findings in the matter to that other state. It is worth noting that the Chicago Convention (Article 25) also makes provision for assisting aircraft in distress. Each contracting state undertakes to provide such measures of assistance to aircraft in distress in its territory as it may find practicable and to permit (subject to control by its own authorities) the owner of the aircraft or authorities of the state in which the aircraft is registered, to provide such measures of assistance as may be necessitated by circumstances. Significantly, the undertaking can only be given by contracting state but the duty to provide assistance is not limited to aircraft registered in another contracting state, but presumably any aircraft in distress in the territory of the contracting state. Finally, the Convention envisages further regulations (normally to be produced under the auspices of ICAO). In this case the Convention provides that each contracting state, when undertaking a search for missing aircraft, will collaborate in co-ordinated measures which may be recommended from time to time pursuant to the Convention. Since 1944 further international regulations relating to safety and investigation of accidents have been made, both pursuant to Chicago Convention and, in particular, through the vehicle of the ICAO which has, for example, set up an accident and reporting system. By requiring the reporting of certain accidents and incidents it is building up an information service for the benefit of member states. However, Chicago Convention provides that each contracting state undertakes collaborate in securing the highest practicable degree of uniformity in regulations, standards, procedures and organization in relation to aircraft, personnel, airways and auxiliary services in all matters in which such uniformity will facilitate and improve air navigation. To this end, ICAO is to adopt and amend from time to time, as may be necessary, international standards and recommended practices and procedures dealing with, among other things, aircraft in distress and investigation of accidents. Standards and Recommended Practices for Aircraft Accident Injuries were first adopted by the ICAO Council on 11 April 1951 pursuant to Article 37 of the Chicago Convention on International Civil Aviation and were designated as Annex 13 to the Convention. The Standards Recommended Practices were based on Recommendations of the Accident Investigation Division at its first Session in February 1946 which were further developed at the Second Session of the Division in February 1947. The 2nd Edition (1966), 3rd Edition, (1973), 4th Edition (1976), 5th Edition (1979), 6th Edition (1981), 7th Edition (1988), 8th Edition (1992) of the Annex 13 (Aircraft Accident and Incident Investigation) of the Chicago Convention was amended eight times by the ICAO Council since 1966. Annex 13 sets out in detail the international standards and recommended practices to be adopted by contracting states in dealing with a serious accident to an aircraft of a contracting state occurring in the territory of another contracting state, known as the state of occurrence. It provides, principally, that the state in which the aircraft is registered is to be given the opportunity to appoint an accredited representative to be present at the inquiry conducted by the state in which the serious aircraft accident occurs. Article 26 of the Chicago Convention does not indicate what the accredited representative is to do but Annex 13 amplifies his rights and duties. In particular, the accredited representative participates in the inquiry by visiting the scene of the accident, examining the wreckage, questioning witnesses, having full access to all relevant evidence, receiving copies of all pertinent documents and making submissions in respect of the various elements of the inquiry. The main shortcomings of the present system for aircraft accident investigation are that some contracting sates are not applying Annex 13 within its express terms, although they are contracting states. Further, and much more important in practice, there are many countries which apply the letter of Annex 13 in such a way as to sterilise its spirit. This appears to be due to a number of causes often found in combination. Firstly, the requirements of the local law and of the local procedures are interpreted and applied so as preclude a more efficient investigation under Annex 13 in favour of a legalistic and sterile interpretation of its terms. Sometimes this results from a distrust of the motives of persons and bodies wishing to participate or from commercial or related to matters of liability and bodies. These may be political, commercial or related to matters of liability and insurance. Secondly, there is said to be a conscious desire to conduct the investigation in some contracting states in such a way as to absolve from any possibility of blame the authorities or nationals, whether manufacturers, operators or air traffic controllers, of the country in which the inquiry is held. The EEC has also had an input into accidents and investigations. In particular, a directive was issued in December 1980 encouraging the uniformity of standards within the EEC by means of joint co-operation of accident investigation. The sharing of and assisting with technical facilities and information was considered an important means of achieving these goals. It has since been proposed that a European accident investigation committee should be set up by the EEC (Council Directive 80/1266 of 1 December 1980). After I would like to introduce the summary of the legislation examples and system for aircraft accidents investigation of the United States, the United Kingdom, Canada, Germany, The Netherlands, Sweden, Swiss, New Zealand and Japan, and I am going to mention the present system, regulations and aviation act for the aircraft accident investigation in Korea. Furthermore I would like to point out the shortcomings of the present system and regulations and aviation act for the aircraft accident investigation and then I will suggest my personal opinion on the new and dramatic innovation on the system for aircraft accident investigation in Korea. I propose that it is necessary and desirable for us to make a new legislation or to revise the existing aviation act in order to establish the standing and independent Committee of Aircraft Accident Investigation under the Korean Government.

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