Comparison of Leadership Theories

Examination of Leadership Theories The foundation of connection among supporters and pioneers that emphasis on genuine changes and results that reflects through shared reasons for existing is essentially initiative. Authority likewise includes in making change not just in keeping up status quote. Another administration significant element is to bring individuals and make them comprehension to meet up around a typical vision and to achieve change wanted future. In numerous angles, the significance of administration is crucial without it families, networks and just as associations would go down separated. In other sense, the method of improving productivity, assurance, client assistance and execution is the basic part of authority. It is additionally basic for the associations to deal with basic circumstance and lead that adequately and just a decent pioneer with great authority capacity can lead group effectively. There are various styles of administration fundamentally it is way the individual arrangements with that s o as to remain alive in their position. These are dictator, law based and free enterprise.( Business:William M. Pride, Robert J. Hughes, Jack R. Kapoor,Cengage Learning, 2009 Political Science - p.179) In dictator initiative style, pioneer holds all the force and obligations. In this style, workers are doled out to explicit errand by the pioneer and hope to complete it organized. In free enterprise administration style, pioneer offers capacity to representatives. There are at least two elective choices taken by pioneer, representatives can pick any of them from that point it depends up to them. In law based authority styles, pioneer gives more significance on workers and attempts to empower them and demonstrates regard for people. Recorded, old style and contemporary way to deal with Leadership hypothesis: Historically there are numerous administration moves toward that connected with various speculations of initiative. Extraordinary Man hypothesis of initiative: 1900s: This is the soonest hypotheses of initiative. Around then the greater part of the analysts accepted that pioneers are conceived, not made. In Great Man hypothesis, portrays that the principle privileged insights of an incredible pioneer lies in being brought into the world extraordinary. It gives significance on the investigation of all the extraordinary pioneers who were incredible, might be they are from gentry or from the lower classes however they had the chances to lead. By discovering those individuals who did extraordinary things, for example, Nepolean, Hitler, Curchill on the off chance that we go further back, at that point Lord Krisna, Gesus and Hazrat Mohammad were anything but difficult to call attention to them. As indicated by Great Man hypothesis, it accepts that pioneers must have a few characteristics like great instructing power, cunning, great character, fearlessness, confidence; wildness and expressiveness that cant be had through learning or through specif ic educated programmes.(Organisational conduct by Hawa Singh,1st ed,2009-10,page-263)( Fire Service Leadership: Theories and Practices-Mitchell R. Waite, International Association of Fire Chiefs;Jones Bartlett Learning, 2008 Business Economics;page-3,4) Attribute Theories of Leadership: 1900s-1940: Trait hypotheses are like Great Man speculations here and there. It expect that pioneers must have general characteristics or individual highlights that they get by conceived and basic to all and make them better coordinated to initiative. In Trait Theory of authority simply attempted to discover characteristics of notable pioneer that were visit. This methodology depended on the plan that is uniqueness and individual natural worth that recognize fruitful pioneer structure every other person. In 1994, Yukl led research on attributes and abilities and connected to authoritative adequacy (Introduction to instructive initiative hierarchical conduct: hypothesis into practice,Patti L. Possibility, Edward W. Chance,Eye on Education, 2002,page.87). These were- Vitality and weight tolerance Confidence Inward locus of control Enthusiastic development Value Incomparability motivation Arriving at direction Requirement for alliance Situational Theories of Leadership: (Initiative in Organizations: There Is a Difference among Leaders and Managers, David, University Press of America, 2009, p 33) In situational hypotheses of initiative gives more significance on the various circumstances like where the undertaking to be cultivated, fit encompassed by characters, force and observations. Viability of initiative depends on those circumstances. These situational speculations are additionally called Contingency hypotheses since this Theory is dependent upon the prerequisites or the status of the circumstances. 1960s-70: In Contingency/situational hypothesis contends what pioneers play out that can be controlled by that circumstances and that practices must be connected with that ecological circumstances close by (Understanding Leadership Perspectives: Theoretical and Practical Approaches, By Matthew R. Fairholm, Gilbert W. Fairholm,2008,page.11). A decent situational pioneer can just apply distinctive authority styles with the evolving circumstances. The best activity taken by the pioneer relies upon of the pioneer relies upon a scope of situational factors. How the model functions just to accomplish results: Recognizable proof of definite occupation and undertaking Asses present execution Relating pioneer reaction Diverse initiative styles could impact by the wide scope of factors relying upon the distinctive ecological circumstances and it makes an effect on pioneer conduct, wherein pioneer can work. There are some basic possibilities like hierarchical volume, multifaceted nature in task, development of specialist thus numerous others. As indicated by situational hypothesis, situational factors are restricted and differ as per that possibility and determined conduct of pioneer can just work in specific sort of circumstances not for all. There are three most unmistakable hypotheses of possibility Way Goal hypothesis Feidlers Contingency hypothesis The Vroom-Yettons model Way Goal hypothesis: In this hypothesis basically center around pioneers persuasive capacity and it very well may be upgraded by expanding singular adjustments to subordinates for work objective accomplishment, increase individual fulfillment by heightening chances (House, 1971).According to these speculations key occupier is that the adequacy can be estimated through the practices of various pioneers that will be affected by situational factors. In more extensive sense it concentrated on starting course of action and reflection conduct of pioneers however later it reached out as participative and authority practices as far as accomplishment situated (House and Mitchell, 1974).there are two significant presumption on way Goal hypotheses of initiative (Leadershipã‚â edited by Linda L. Neider, Chester Schriesheim, IAP, 2002, page-116) Right off the bat, it worries with the appropriateness of pioneers conduct to the subordinates Besides, it worries with the inspirational components of pioneer (House and Mitchell, 1974). Reasonableness: Leader practices should be appropriate for the subordinates so it encourages them to work well with various circumstance. This great conduct of pioneer improves the general fulfillments of subordinates. Inspiration: The job of a pioneer is significant in persuading of workers for specific undertaking to expand the general execution. Fiedlers Contingency hypothesis: Overseeing hierarchical conduct: Henry, Neal P. Mero, John R. Rizzo Wiley-Blackwell, 2000 pages.461, 467 In 1971, Feidler proposed explanation on that how bunch execution can be influenced through the relations of initiative direction, bunch setting and occupation attributes. Pioneers circumstance can gauge however different degrees like connections among pioneers and individuals, structure of employment and position power (Fiedler, 1978). The connection among pioneer and part: This alludes to how the pioneer is enjoyed by the gathering individuals. At the point when great relationship exists among pioneers and individuals then all are get high fulfillment in work and associations esteems is accomplished through individual qualities. On the off chance that the connection is going severely, at that point there is absence of normal trust. Another significant term bunch cohesiveness, it is hard to make all the representatives cooperate when it low. On the off chance that it is high yet awful connection with pioneer, at that point bunch cooperates to hurt the association just as pioneer. Structure of occupations: It is ordered in two different ways like high assignment and low undertaking structure. In high assignment work structure pioneer should comprehend what the objective is and how to accomplish that. In low assignment structure work pioneer must settle on a choice how to perform task each an ideal opportunity to complete it. Position power: In high position power pioneer has position to take any significant choices without educating anybody to higher association levels. In low position power, pioneer has constrained position. The Vroom-Yettons model of administration: This model is broadly utilized in the advancement of initiative in corporate focus and furthermore gets enough help from specialists. (Mechanical and hierarchical brain science: connecting hypothesis with practice; By Cary L. Cooper, Edwin A. Locke, page-151,152)The most significant parts of this model is that legitimates both the imperious and fair pioneer conduct and coordinating that is reasonable in careful circumstances. This model additionally gives productive data about what might be the ideal time of utilizing gatherings or restricted to character dynamic. This model has a few constraints like pioneers are consistently need to take choice in picking of authority styles, it considers every choice in term of circumstance yet it doesn't rely upon past factor. Intellectual asset hypothesis: Intellectual Resource hypothesis is the change of Feidlers Contingency hypothesis. This hypothesis concentrated on character, habits and situational properties. Psychological asset hypothesis incorporates intellectual assets like individual sharpness, pragmatic information and expertise, work ability, into unique model. Presumptions: 1) Plans and procedures are conveyed through mandate conduct by troughs. 2) Experienced and more brilliant pioneers ha

The Renaissance North And South Free Essays

Southern Renaissance was increasingly mainstream contrasted with the Northern. Northern concentrated exclusively on religion. Southern concentrated more on workmanship, yet didn't dismiss religion totally Southern Europeans during the Renaissance concentrated on craftsmanship and religion, while the Northern Europeans made numerous establishments of higher realizing, where they showed viable learning, science, and innovation. We will compose a custom article test on The Renaissance North And South or on the other hand any comparable theme just for you Request Now The ‘Golden Age’ the same number of call it, is accepted to be the time in which Europe has at last begun to enter the ‘Modern Age. The Southern Renaissance (in Italy) started during the fourteenth century while the Northern Renaissance is accepted to have begun during the 1 the century. The Renaissance has expanded the notoriety of masterpieces and different fields of stud including: design, writing, sciences, governmental issues, and religion. There is many contrasts between the Southern and Northern Renaissance, and it is likewise founded on the idea of Humanism. Various specialists from the south and the north have demonstrated these distinctions in sees in their show-stoppers and their ideas in imagining the WA way individual carries on with their life. The Northern piece of Europe during those occasions was emphatically appended to the showing gas of Christianity. The congregation drove force, and humanists envisioned their general public as being all the more near God or nature as could be expected under the circumstances. The North held that Middle Ages conviction far longer than their Southern partner, and that is likewise the motivation behind why the greater part of their show-stoppers are about scenes and the ways of life of individuals. The Southern piece of Europe (Italy to be progressively exact) has an altogether different attitude toward how craftsmanship ought to be seen and acknowledged. Their craftsmen made artworks about Greg eek and Roman legends, about divine beings and goddesses, and they were continually looking for something new and better to make. The hues that they additionally created caused the meshes to appear to be alive yet not it could be said where the painting is the main thing that an individual can see. It’s progressively like the watcher can see the item and let his creative mind meander uninhibitedly. The format of the land may have likewise assumed a huge job on how the Renaissance occurred in the Northern and Southern pieces of Europe. Italy is a spot were exchange w rich, and they were presented to various societies (Asians and so forth). These GA them the alternative to create and find new things. Southerners imagine that religion I still significant, however it isn't the main need that they ought to center upon. Politic and different sciences were the things that individuals considered during those days, and that likewise changed their method of living. Northerners, then again, was not very presented to these progressions and still clung to their conviction of Jesus Christ and the congregation. The Southern and Northern Renaissance may have a great deal of contrasts, yet they make them thing in like manner: They esteemed craftsmanship. There even came when these specialists met and imparted their insights WI the one another. These prompted the production of better gems which are valued by t he world today. Rundown: 1 . The Southern Renaissance started during the fourteenth century while the Northern Renaissance was accepted to have begun during the sixteenth century. 2. The Northern Part of Europe is unequivocally connected to Christianity and the congregation. 3. The Southern Part of Europe during the Renaissance is progressively centered around the improvement of various fields of science including writing, design, legislative issues, a ND religion. 4. Work of art from the North depend on Humanism and Landscapes. 5. Work of art from the South are increasingly about Classical Greek and Roman Mythologies. Instructions to refer to The Renaissance North And South, Papers

IELTS Academic Essay Sample

IELTS Academic Essay SampleAn IELTS Academic Essay Sample PDF or Portable Document Format (PDF) document is great for presenting your research in a way that is easy to comprehend. But where does one find it? With the rising popularity of academic research, the need for better presentation styles has increased significantly.As with many other forms of academia today, there are many tools available to aid with presenting your research findings. But with the amount of information available today, many who would like to research anything do not have the time or resources to truly do it. The majority of the tools available for documentation in terms of scholarship are geared towards administrators, or those who need to have a certain set of information that they can then use as reference. This can be great, but not everyone has the luxury of time, and does not always have access to a computer to conduct their research.This can be seen in the rise of many people who choose to just take the word of what their professors, or the teaching staff at their college or university say, and base their educational experience on such reference information. This of course leads to a downfall, since many of these teaching staff will only provide their students with what they are comfortable with, or in their opinion, worthy of believing. In most cases, a teacher will choose to teach what the students want to learn, which creates a situation where they try to be what they believe the students want to hear, rather than what they know to be true.This of course can lead to frustration for the student, and even for the student's professor. It can also lead to them doing whatever they can to ensure that they pass their class, rather than being the exception to the rule. This can also lead to a worst case scenario, which is that the student ends up not graduating because they failed the class, or they did not get a letter of permission to leave campus. With such a situation, the student would have wasted a lot of time and money.In such situations, a teacher would be well advised to really take a close look at how their teaching style can be best changed to better suit the student, and to really put some effort into the hard work that the student has put in. They should then follow this up with more supportive and in depth feedback, and show them how they can do better. Doing this will not only encourage them to strive for better results, but also show them that their professors really do care about their learning experiences.With an IELTS Professional, an IELTS Academic Essay Sample PDF can be submitted via email and delivered straight to the student. This also comes with a cover sheet that the student can add to their own if they wish. Students will also be able to download the first chapter to be used as their reference guide to show how it can be utilized. Also included is the full-length sample essay that is available in PDF format.Those looking for easy to und erstand presentations of any type will find IELTS very handy for its ease of use. Teachers and students alike will also find it helpful, especially when they need to review for their test and see where they went wrong. With its Portable Document Format (PDF) features, it is a tool that can be easily transferred to a personal computer, or to a smart phone or a tablet, making it easy to take with you wherever you go.With all of the features and benefits that IELTS provides, it is not hard to see why so many have found it to be a good fit for their particular needs. With the many different forms of documentation that are available today, including both professionally written and free academic essay samples, students can feel better prepared to give it their best shot!

Micro And Macro Benefits Of Raising Cuny Community College...

Micro and Macro Benefits of Raising CUNY Community College Graduation Rates There are many micro and macro benefits associated with raising graduation rates. The following an overview of these benefits: Micro Benefits An individual who completes an AA degree has the potential to gain considerable benefits, including: †¢ The employment participation rate for individuals with an AA degree (68 percent) is higher than individuals with only a high school diploma (50 percent) (U.S. Bureau of Labor Statistics, 2015). †¢ The average New Yorker aged 25 to 29 with only a high school diploma ($17,000) makes significantly less than individuals with â€Å"some college† coursework ($ 22,000), an AA ($ 29,000) degree and BA degree ($ 42,000) (Center for an Urban Future, 2013). †¢ A worker with an AA will earn almost $ 500,00 more than someone who only a high school diploma, and no further education (Ibid). †¢ College educated adults also enjoy â€Å"non-monetary† benefits, such as decreasing the likelihood of smoking and obesity (Ibid). †¢ The benefits of higher educational attainment does not simply benefit the individual who completes their degree, but their children are more likely to attain the same educational credentials, if not more (NYC Public Advocate, 2015). Macro Benefits There are several micro benefits with raising community college graduation rates. New York State and New York State would enjoy substantial benefits if graduation rates were raised. Raising the graduation

Friendship Is An Essential Aspect Of Human Happiness

The first relationship we experience, apart from what we have with our family, for the first time to explore our lives, is friendship. At this time, people tend to discover many of their strengths and flaws through having many friends and feel emotions that they have never felt before. Friends help shape who we are and where we fit in society, always learning and improving through one another. Many philosophers today and in the past will agree that friendship is an essential aspect of human happiness. Friendship is understood as a distinctively personal relationship that is grounded in a concern on the part of each friend for the welfare of the other, for the other’s sake, and that involves some degree of intimacy (Helm). But what exactly†¦show more content†¦Friendship based on utility and pleasure become selfishness. Human naturally set up relationships, going from person to person, for personal gain. Aristotle describes these kinds of friendship to be easily dissol ved and forgotten, for they are easily split apart. (Aristotle) We can see these types of relationships in businesses or parties, where people greet each other and create small talk, but no real relationship is present. Their motivation and objective is to get what they need and move on as quickly as possible. According to Aristotle, this type of friendship pertains mostly to younger people, who are advantageous, for they â€Å"...are at such a time of life pursue not what is pleasant but what is beneficial.† (Aristotle) For example, a regular customer at a pizza restaurant might quickly transition to a newly opened restaurant that provides better service for a cheaper price. Furthermore, utility and pleasure are desires that are influenced by passions and feelings, which are constantly and abruptly changing. Aristotle says that people in this state â€Å"...quickly become friends and quickly stop...† and â€Å"...love and stop loving quickly...† (Aristotle) The se relationships are unstable and unpredictable which might cause more harm than good. Aristotle moves on by showing that a perfect friendship is based on goodness

Rhetorical Analysis Of On The Briefcase, Poor Americans...

Rhetorical Analysis Essay: â€Å"On The Briefcase, Poor Americans Have ‘Prove’ Themselves,† In Margaret Lyons’s Vulture article, â€Å"On the Briefcase, Poor Americans have to ‘Prove’ Themselves,† was posted on May 26, 2015. Lyons discusses how ‘The Briefcase’ follows â€Å"Middle Class† American families that are experiencing financial hardships. The context of this article is economical situations present in American â€Å"middle class† families, as represented on a television show viewed all over the world. Lyons exigence is how the game show is purposely exploiting middle class Americans are using their setbacks against each other. She supports her claims with the ethos through opinionated information such as the real reason why the briefcase actually helps middle class people; logos, sharing the evidence on Les Moonves on how they make more money than the game show does in a month, pathos; how a woman is so overcome with joy she vomits. Initially, Lyons begins her article with an ethical appeal as she shares the exploitation of middle class Americans. As she began to get in depth with how the game show is an embarrassment, she shows only in view of the argument, which is disagreeing with everything that they are doing. The game show is a disappointment to society, the show lets us think that they are helping middle class families. Lyons stated, But there s something really perverse about Les Moonves earning money based on the emotional and financial anguish of poor people, by

Auditing Standards Executive Committee

Question: Discuss about the Auditing Standards Executive Committee. Answer: Introduction: IFRS Practice Statement -Application of Materiality to Financial Statements was drafted with the aim of assisting the management in determining what entails materiality when applying this concept to general purpose financial statements ('American Institute of Certified Public Accountants,' 2006). Ideally, information or data would be considered material if misstating or omitting it could influence the decisions of users to make about a particular reporting entity, that is, the perception of the users of that entity. For instance, if material information is misstated, the users of the financial statements may have a wrong impression about the company making them invest in the firm and thus realizing a financial loss in the future. This draft provided guidance on materiality characteristics, and application of the concept of materiality in deciding whether to present and disclose information. Besides, provided guidance on assessing whether omissions and misstatements are material (Aren s, Elder, Mark, 2012). This question of this research paper provides an analysis into these three areas as well as the recognition and measurement of materiality. Characteristics of Materiality According to IFRS, information is material if omitting or misstating it could change the perception or the decisions that the users of the financial statements make based on that financial information about the entity that is reporting the financial statements (Arens, Best, Shailer, Fiedler, Elder, Beasley, 2007). Ideally, the purpose of an audit is to enhance the confidence of users in the financial statements of an organization. The auditor, therefore, has to express an opinion on the true and fair view of the financial statements of the reporting entity stating whether in all material aspects the financial statements have been prepared in agreement with IFRS. The information would, therefore, be considered material if the magnitude of its misstatement or omission would make it probable that it would affect the judgment of a reasonable person that relies on that information. Materiality has four key features, namely: pervasiveness, relevance, reliability, and whether some informat ion has been omitted or misstated. Information is considered reliable if it assures the users of the financial statements that it is free from any biased or error and that it represents what it was supposed to represent. Apparently, if that information was not free from any error or biasedness and it was used by the users of the financial statements, then it would be regarded to be material (Boynton, Johnson, 2006). Information is relevant if it has a high capacity to influence the decisions of the users of the financial statements in that the information could help the users make predictions about the past, present and future events of the entity. The information will be considered pervasive if the benefits of the users of the financial statements using it outweigh the costs. Ideally, each user of the financial information will perceive the value attached to the quality information in a unique way (Cosserat, Rodda, 2009).Ultimately, a standard body such as the IFRS has to assess the information presented and disclosed to the public to ensure that it meets their needs. Besides, the body must be aware of the calculus of costs and benefits and make sure that the information presented and disclosed meets this calculus. To justify the need for a particular disclosure, the IFRS must ascertain that the benefits perceived to be derived from that disclosure exceed the costs associated with it. The last characteristic of materiality is to ensure that some information has been misstated, omitted, it contains error or biasedness. This calls for an auditor to perform an analysis on the financial statements of the reporting firm and as asc ertain whether any information has been misstated or omitted, that is, whether the financial statements presented portray an accurate and fair view of the financial reporting of the firm and does not mislead its users. Application of the Concept of Materiality when Making Decisions about Presentation and Disclosure of Information In preparing the financial statements, the management of the reporting entity ought to consider their objective. The main aim of firms is providing information that is useful to its users to enable them to assess the prospects of the company for its expected cash inflows in the future and to allow them to evaluate the stewardship of the resources of the entity. If a particular information that has been generated by the business affects the decisions of a user, then that information ought to be presented and disclosed in the financial statements. To apply this concept, one must also consider if the financial reporting is pervasive (Hayes, Wallage, Gortemaker, 2014). The information will be ubiquitous if the benefits of using it outweigh the accrued costs. This is a concept that can be used to apply the concept of materiality when making decisions about the presentation and disclosure of financial information. It would be useful in deciding whether to disclose in that any information that is perceived to be pervasive is material to the financial statements and therefore it should be tested for material misstatement to ascertain that it is free from any biasedness or error. Assessment of whether Omissions and Misstatements of Financial Information are Material In assessing the materiality of the financial statements, one must identify that the omissions and distortions could influence the economic decisions of the users of the financial statements. Judgments about whether the omissions and misstatements would be material to the financial statements are based on surrounding circumstances and are affected by the size and nature of the distortion (Ismail, Haron, Nasir Ibrahim, Mohd Isa, 2006). To identify whether the omission or misstatement is material, an auditor must assess the information needs of the users of the financial statements. For instance, an investor would be interested in the financial statements to ascertain whether the money that he lends to a business is being used for the right purpose as stated in their Memorandum of Association. The auditor's determination as to whether the omission or misstatement of financial information is material is dependent on his professional judgment. When an auditor understands this, he will b e able to assess what omission or misstatement is material. Recognition and Measurement Finally, the IFRS Practice Statement states that the IFRS recognition and measurement requirements need to be applied to ascertain that the omission or misstatement of the financial information is material to the financial statements (Porter, Simon, Hatherly, 2014). This would call for the auditor recognizing the material misstatement in his report and the extent to which it affects the users. An auditor is mainly concerned about two issues, namely: Big Data' and End-to-End Software Integration.' Big data describes an extensive portfolio of a firm that contains unstructured and machine-generated data. The point is that big data will have an impact on risk management, which is an area of primary concern to auditors (Rennings, Ziegler, Ankele, Hoffmann, 2006). Ideally, big data and analytics have the potential of enabling auditors to identify errors, fraud, financial reporting, and business risks and to deliver a more consistent audit. The first issue concerning big data is data capture. Many companies strive to invest in protecting their data. This is a matter since it makes it hard for auditors to obtain client's approval on the data. Moreover, auditors encounter companies with different accounting systems and embracing big data would mean extracting the sub-ledger information and thus familiarizing themselves with the various accounting systems used. This, therefore, inc reases the complexity of data extraction. Using data analytics to obtain audit evidence may be difficult, as auditors are required to find a balance between their personal judgment and the results of the analytics. They, therefore, have to consider substantive analytical procedures, validation of the data for analytics purposes, and defining of the audit evidence, which is time-consuming, and thus a primary issue. Another problem that is inherent to auditors is End-to-End Software Integration. End to end software integration in auditing perspective entails ensuring that the user interfaces meet their needs and ensure that there is a smooth flow of information from the company to the user (Rittenberg, Johnstone, Gramling, 2010). Ideally, a perfect end-to-end software integration allows customers limitless capabilities, communication, and dynamic change of business logics. End to end software integration may be an issue to auditors since the audit approach that they use, whether auditing through the computer or auditing around the computer, may leave some loopholes unattended. End to end software integration contains transmission of big data and performing an audit of that big data may be time-consuming. This is because the auditors may be required to have an understanding of the different accounting systems used by the firm and thus retrieve sub-ledger information, which may be complicated for those auditors who are not conversant with the various accounting systems. Ultimately, the audit firms may be necessitated to train their staff on the different accounting systems used by companies thus leading to wastage of time and resources. For the audit committees, time has never been more challenging. Cybersecurity and other technological disruptions, economic volatility, a political and regulatory risk that affect today's corporate boards including oversight of risk have filtered down to the audit committee. The disruptive trends context, in this case, looks at the technological risk, political and economic risk, the evolution of financial reporting, and the increasing complexity of the regulatory landscape (KPMG.com, 2016). Technical Risk The technological risk is a major concern for the audit committees such as the cyber security risk. With the advancement of cyber attacks, cyber security remains a major oversight for the audit committees (Rittenberg, Johnstone, Gramling, 2010). Ideally, they are more concerned with challenges such as data protection, social engineering, auditing of third parties, cyber insurance, and remediation procedures. Political and Economic Risk Second, the political, and economic risk is also a major disruptive trend for the audit committees. With the fall in the prices of oil, a weak dollar, and an increase in political uncertainty around the globe, exercising an oversight on the political and economic risk has to become a priority (Wang, Chow, Wang, Ren, Lou, 2013). It is a disruptive trend since as companies seek to enter the emerging markets, they have to balance between the exposure to bad and good risks given the current economic challenges. For instance, in some industries such as the oil and gas sector, the fundamental question of disruption and risk such as corporate survival and operational problems becomes a more pressing issue. The audit committees, therefore, have to narrow down their agenda to the going concern level that can enable these companies to sustain in the worse economic period. Evolution of Financial Reporting The development of financial reporting is a third disruptive trend that the audit committees need to include in their agenda. With the ongoing changes in the corporate world, companies are mandated to ensure strategic reporting (Wang, Wang, Ren, Lou, 2010). Here, the board of directors is required to discuss the main trends and factors that are likely to affect future development, financial position, and performance of their company. Ideally, the board is required to use financial and non-financial metrics such as the balanced scorecard and the Strategic Performance Measurement System (SPMS) to highlight the trends and factors (Zadek, Evans, Pruzan, 2013). This is a disruptive trend since it requires the audit committees to ensure that companies present and disclose Key Performance Indicators (KPIs) in their annual reports. The Increasing Complexity of the Regulatory Landscape Lastly, the increasing complexity of the regulatory landscape has proved to have a disruptive trend or effect of companies as well as their audit committees (William Jr, Glover, Prawitt, 2016). The main aim of this increasing complexity of regulations is to prevent the occurrence of another global financial crisis like the one that occurred in 2008. Some emerging regulatory issues include aligning of classification and measurement of financial instruments with risk management, recognition of revenue from contracts, accounting for leases, re-classifying of insurance contracts, anti-money laundering, and privacy legislations (Yang, Jia, 2013). As a result, the audit committees ought to equip themselves with knowledge on these emerging and disruptive trends of the regulatory landscape. References American Institute of Certified Public Accountants. Auditing Standards Executive Committee. (2006).Codification of Statements on Auditing Standards. Commerce Clearing House. Retrieved on 23rd January 2017. Arens, A. A., Elder, R. J., Mark, B. (2012).Auditing and Assurance services: an integrated approach. Boston: Prentice Hall. Retrieved on 23rd January 2017. Arens, A. A., Best, P., Shailer, G., Fiedler, B., Elder, R. J., Beasley, M. (2007).Auditing and assurance services in Australia: an integrated approach. Pearson Education Australia. Retrieved on 23rd January 2017. Boynton, W. C., Johnson, R. N. (2006).Modern Auditing: Assurance services and the integrity of financial reporting. Wiley. Retrieved on 23rd January 2017. Cosserat, G. W., Rodda, N. (2009).Modern auditing. Wiley. Retrieved on 23rd January 2017. Hayes, R., Wallage, P., Gortemaker, H. (2014).Principles of auditing: an introduction to international standards on auditing. Pearson Higher Ed. Retrieved on 23rd January 2017. Ismail, I., Haron, H., Nasir Ibrahim, D., Mohd Isa, S. (2006). Service quality, client satisfaction, and loyalty towards audit firms: Perceptions of Malaysian public listed companies.Managerial auditing journal,21(7), 738-756. Retrieved on 23rd January 2017. KPMG.com. (2016). Audit Trends 2016. Retrieved on 23rd January 2017 from https://assets.kpmg.com/content/dam/kpmg/pdf/2016/05/Audit-Trends-2016.pdf/ Porter, B., Simon, J., Hatherly, D. (2014).Principles of external auditing. John Wiley Sons. Retrieved on 23rd January 2017. Rennings, K., Ziegler, A., Ankele, K., Hoffmann, E. (2006). The influence of different characteristics of the EU environmental management and auditing scheme on technical, environmental innovations and economic performance.Ecological Economics,57(1), 45-59. Retrieved on 23rd January 2017. Rittenberg, L. E., Johnstone, K. M., Gramling, A. A. (2010). Auditing: A business Risk Approach. Retrieved on 23rd January 2017. Wang, C., Chow, S. S., Wang, Q., Ren, K., Lou, W. (2013). Privacy-preserving public auditing for secure cloud storage.IEEE Transactions on Computers,62(2), 362-375. Retrieved on 23rd January 2017. Wang, C., Wang, Q., Ren, K., Lou, W. (2010, March). Privacy-preserving public auditing for data storage security in cloud computing. InInfocom, 2010 Proceedings IEEE(pp. 1-9). IEEE. Retrieved on 23rd January 2017. William Jr, M., Glover, S., Prawitt, D. (2016).Auditing and Assurance services: A systematic approach. McGraw-Hill Education. Retrieved on 23rd January 2017. Yang, K., Jia, X. (2013). An efficient and secure dynamic auditing protocol for data storage in cloud computing.IEEE transactions on parallel and distributed systems,24(9), 1717-1726. Retrieved on 23rd January 2017. Zadek, S., Evans, R., Pruzan, P. (2013).Building corporate accountability: Emerging practice in social and ethical accounting and auditing. Routledge. Retrieved on 23rd January 2017.