Democratic Government A System Of Checks And Balances

Wichita Area Technical College Democratic Government: A System of Checks and Balances Kyle Wiebe American Government LeArta Watkins 2/11/2016 In America today, most people are familiar with the president and his role in the country. What other people are less familiar with, however, are the other branches of government that play a significant part in the decision-making process of our country. The government is divided into the three branches: the Executive Branch, the Legislative Branch, and the Judicial Branch. The president, who is the head of the Executive Branch, plays arguable the most important role of any one-person in the United States. However, the Legislative and Judicial branches are very important too. The Founding Fathers created this country’s political system in such a way that the government could operate effectively, but no one branch would have an advantage over the others. Each branch has its own responsibilities, and its power is checked by that of the other branches. The first branch to discuss is the Executive Branch. The Executive Branch is comprised of the President, his cabinet, and other government agencies. One of the President’s main jobs in the White House is to carry out the laws of the country. He is able to do this because he is in control of many governmental agencies; some of these include the CIA, the Environmental Protection Agency, and the Department of Defense (The Executive). The President can either pass or veto billsShow MoreRelatedThe Constitution Of The United States1593 Words   |  7 PagesConstitution of the United States that established the national government and certain basic fundamental laws apart from guaranteeing some basic rights to the citizens of the United States. 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The Protest Of The United States - 1576 Words

The activists feel like this disruptive protest is needed in order to disturb not only the public but to disturb politicians and people in high places. They feel like in this way they will grab the attention, sympathy, and support of citizens and will force politicians to face these issues and propose solutions to them like police reform and will also remind the police force and all other authorities that they are aware of these injustices and that they are never ignored (Mather). The main point of the Two Treaties of Government was to illustrate John Locke’s idea that all men were created equal and naturally free. He went against the ideals of Robert Filmer who believed that humans were born to be subjugated by the monarchs of their†¦show more content†¦John Locke believed that since men were all equal that this makes, â€Å"the foundation of that obligation to mutual love amongst men on which he builds the duties they owe one another from whence he derives the grea t maxims of justice and charity,† (Locke, 106). This is an idea shared by the Black Lives Matter movement as well as they believe on evoking humanity in order to express their frustration against police brutality. Yates, a BLM activists explains that, â€Å"at the very core of this is humanity- Black Lives Matter. We matter. Black lives matter because they are lives..because we are human..† (Harris). Both Yates and John Locke use humanity in order to support their arguments. Another belief Locke had was that â€Å".. men are naturally in, and that is, a state of perfect freedom to order their actions, and dispose of their possessions and persons as they think fit, within the bounds of the law of Nature..† (Locke, 106). BLM activists can argue that these men being brutalized had no need for such exertion of power. The police should never be expected to terrorize the black community, even though that is what it has come to in many black communities. Since people ar e expected to have perfect freedom as Locke stated, there is no need for harsh authority since people naturally act in the best interest of themselves which is typically the best interest of the community. Knowing this, John Locke and the BLM

Chronic Obstructive Pulmonary Disease System

Question: Discuss about the Chronic Obstructive Pulmonary Disease System. Answer: Introduction Chronic- obstructive pulmonary disease (COPD)is a condition that is characterized bythe air-flow limitation, which is not completely reversible (GOLD, 2010). It includes airflow obstructive diseases such as chronic- bronchitis and emphysema. In-spite of effective COPD control, the patients may experience many episodes of exacerbations affecting their physical as well as mental health. Additionally, COPD exacerbations incur a high cost and affect the pulmonary function and quality-of-life (Toy, 2010). This case study discusses about Mr. Bill McDonald, a 65 year old male who has got admitted in the hospital with chief complaints of dyspnea even at rest, increased lethargy, wheezing with chronic- productive cough producing excessive purulent- sputum and was diagnosed to have acute exacerbations of COPD. He is found to smoke one pocket of cigarettes per day for 35 years and has history of recurrent- bronchial infections. This essay discusses in detail about the pathophysiology, medical a nd nursing management for Mr. Bill with acute exacerbations including home-care considerations, community resources available and educational plan. Pathophysiology of acute and chronic COPD COPD is a condition in which the airway is obstructed by chronic bronchitis and emphysema or a combination of both (Hinkle, 2014). Any damage or inflammation in the larger airways of lungs can result in chronic- bronchitis which is referred to as a condition in which an excessive production of sputum with recurrent cough persisting for at-least three months/year for two consecutive years due to chronic smoking (Lewis, 2013). As, Mr. Bill is a chronic smoker for 35 years, the cigarette smoke has irritated the walls of bronchioles causing hyperplasia of mucous-secreting glands (including goblet cells) in the bronchi leading to increased mucus production. Moreover, the hyperplasia of cells has reduced the diameter of the airway resulting in reduced clearance of mucus. Smoking has reduced the ciliary movements causing reduced clearance of secretion resulting in sputum accumulation leading to the multiplication of micro-organism bronchiolar infections (Barnes, 2014). Because of inadequate clearance, Bill has experienced chronic cough with production of purulent sputum. Because of recurrent bronchiolar infections, more number of neutrophils with macrophages were released, which in-turn has released proteolytic enzymes leading to the destruction of alveolar tissues that again increases inflammation, edema and infectious process causing formation of exudates. More frequently, the micro- organisms have colonized in Bill leading to recurrent bronchial- infections causing excessive mucus accumulation resulting in occlusion of smaller bronchioles (Hinkle, 2014). This has increased resistance to airflow that in-turn has increased the effort of breathing leading to decreased oxygen supply to tissues causing hypoxemia. Additionally, there was a diminished respiratory drive with increased tendency to hypo-ventilate and retain CO2. Because of this, most of the lung areas are not ventilated and so oxygen diffusion could not occur leading to dyspnea both at rest and activities. Hence, Bill with chronic bronchitis requires oxygen both at rest and activities as the disease progresses. As Bill is a smoker, bronchospasm develops frequently that adds to the already existing airway resistance results in further increase in work of breathing and impaired gas exchange which is manifested by dyspnea and lethargy than usual. On auscultation, because of increased CO2 retention in lungs, the lung sounds such as scattered crackles, ronchi and wheezes were heard (Lewis, 2013). Because of smoking, an acute exacerbation of COPD has occurred in Bill, which is an event in the course of COPD that is characterized by the acute- changes in the usual clients dyspnea, cough and sputum production (Hurst, 2009, Eisner, 2010). Its severity has been ranked as level-I (treated at home), level-II (needs hospitalization), level-III (results in respiratory failure) in which Bill lies in level-II (Ghoshal, 2012). Medical management The first step to treat acute-exacerbations involves increasing the dose and frequency of short-acting bronchodilators. If it is unresponsive, bronchodilators with oral corticosteroids should be given. Short-acting 2- agonist (e.g. Salbutamol- 100-to-200 mcg) with nebulizer and Tab. Prednisolone (30mg) OD was administered for 7 days for Bill (Hurst, 2009). If there are changes in the characteristics of sputum, antibiotics should be added based on the causative bacterial-pathogen. Antibiotics should be started only for patients with sputum (Garvey, 2012). In regard to Bill, Levofloxacin (500mg daily) was administered for 11days because of the presence of Pseudomonasspp. in his sputum specimen (Currie, 2009). Theophylline might be administered in patients who are unresponsive to treatment which is not administered for Bill. Oxygen should be administered at any stage of exacerbation in the presence of hypoxemia to improve his base-line oxygenation to at-least 60 mmHg and to maintain oxygen saturation of at-least 90% (Garvey, 2012). Bill was administered with 2 liters/min of oxygen through nasal-cannula and his O2 saturation was 88% and PaO2 55 in ABG. Non-invasive positive-pressure ventilation could be used to reverse acute- respiratory failure which was not used for Bill. Nursing management As Bill was having COPD exacerbation, he was monitored for PaO2, PaCO2 with pH, at the time of admission, treatment and at the time of changes in patients condition. Pulse oximeter was connected to monitor the oxygen saturation. Oxygen was administered to Bill at the rate of 2 liters/min through nasal-cannula to maintain normal oxygen-saturation thereby to prevent occurrence of respiratory acidosis/hypercapnia. Mechanical ventilation should be started only when pH 7.35 (Ghoshal, 2012). He was monitored carefully to prevent increased CO2 washout that may lead to respiratory depression as CO2 act as a respiratory-drive for Bill (Lewis, 2013). Therefore, oxygen should be given at lower rate to prevent CO2-narcosis. Upright position was provided to expand the lungs to promote oxygenation. Bill was demonstrated to perform pursed-lip-breathing that was helpful to increase expiration so as to prevent bronchiolar-collapse with air-trapping (Lewis, 2013). He was guided to practice abdominal-breathing that helped him to use diaphragm in-stead of accessory-muscles so as to promote maximal inspiration as well as to reduce the respiratory rate. In case of abdominal-breathing, the abdomen will protrude at inspiration and contract at expiration, where the diaphragm pushes the air outside the lungs and promotes control over Bills breathing especially during dyspnea and exercises. Deep-breathing with coughing-exercise was demonstrated to promote expulsion of lung secretions so as to promote normal breathing. His position was changed once in 2 hours to prevent aspirations. Chest physiotherapy (bronchial tapping) was performed to remove excess lung secretions (Hinkle, 2014). Bill has experienced difficulty in breathing and consuming food simultaneously and hence small and frequent diet (six meals) was encouraged (Seo, 2014). He was encouraged to drink 3 liters of fluid/day to promote hydration so as to liquefy the lung secretions and promote mucus expulsion (Hanania, 2010). The fluid was given only in-between the meals but not with meals to avoid abdominal distention that might increase his dyspnea. Gas-forming and carbonated foods were avoided as they will cause abdominal distention causing dyspnea. Very cold and hot foods were avoided as it may cause coughing spasms. Home-care considerations The role of nurse is crucial in educating home-care considerations to COPD patients (Zakrisson, 2011). Bill is discharged with portable oxygen to prevent hypoxemia as he is a chronic COPD patient. Nasal-cannula (2 liters/min) was arranged for Bill as it is safe and simple to use at home and is comfortable and acceptable. It will not interfere with eating, talking, coughing, walking or moving. But, its position should be maintained to avoid dislodgement. Long-term oxygen therapy (LTOT) will help to improve neuro-psychological function, increase activity- tolerance, reduce hematocrit and decrease pulmonary-hypertension. As, Bill was stable with PaO2 of 55 mmHg and SaO2 (less than 88%), LTOT was allowed. Regular nasal-cannula was arranged to deliver O2 from central source at home. He was given with liquid O2 as it is portable and holds 6-8 hr O2 supply at 2 L/min and the reservoir will lasts for 7-10 days (Lewis, 2013). He was instructed about the methods of using oxygen at home, its importance, advantages, disadvantages and precautions to be followed. He was instructed to put the nasal straps properly and not to be too tight. Observe the ear-tops for skin breakdown and pad it, if needed (Hanania, 2010). Bill was educated to assess oral as well as nasal mucous membrane for 2-3 times/ day and advised to apply water-based gel over the nasal membrane and lips (Lewis, 2013). Encouraged to wash mouth frequently and use humidifier to avoid dryness in skin resulting in skin breakdown and infection. He was advised to remove the nasal-cannula and clean it with water for 2-3 times/ day and clean the skin carefully and observe for bruises, scratches and cuts. He was instructed to change disposable equipments regularly and to remove sputum that is coughed-out. He was advised to post No Smoking boards at home and not to use electric razors, open flames, mineral oils, blankets (wool) or portable- radios near the oxygen area and not to allow smoking in home (Lewis, 2013). He was encouraged to remain active and travel normally. Oxygen could be arranged by private companies at the destination point. If, he wishes to travel by bus, train or flight, notifications should be given to make O2 reservations. High-altitude stimulation-test should be performed in a hospital to determine the amount of O2 needed for traveling in flight. Resources available In Government, COPD National-Program as well as Lung-cancer programs are the major programs available within Lung- Foundation. They are supported by the Information with Support-Centre of Lung- Foundation which operates a toll-free telephonic number for COPD patients, care-takers and physicians to make a call and speak with team member (who can guide them to get resources and get link to the support- services) or to talk to a Lung-Care Nurse. There are other foundation areas as Respiratory-infectious diseases, Bronchiectasis registry, Multi-centre clinical-trial network, telephonic support- group and community- awareness events (Harper, 2013). Usually, home oxygen- systems are also rented from a private company, which sends a pulmonary nurse and/or respiratory therapists to the patients home. These therapists will teach about the method of using O2 system, method of caring O2 system and how to identify, when the system is getting low and needs to re-order (Lewis, 2013). The staff nurse has to make arrangements with the community-health nurse to obtain O2 equipments from an agency and receive follow-up home-care regularly. The agency will make arrangements to receive an O2 concentrator with portable tanks and concentrated O2 with oxygen regulators and supplies (20m of tubing with nasal-cannula). He was educated about basic anatomy with physiology of lung along with pathophysiology, features with complications for COPD through Australian Lung Association videos. Breathing retraining techniques as pursed-lip breathing and abdominal-breathing techniques were demonstrated. Energy-conservation methods as pacing the activities and performing pursed- lip breathing while performing activities was educated. The medication list with all the medications such as oral/ inhalant corticosteroids, antibiotics, -adrenergic receptors and anti-cholinergics was given with instructions for dosage, frequency, route, mode of action and side effects. He was demonstrated about the method of using inhaler (Lewis, 2013). He was educated about method of using oxygen at home with precautions. His family was guided to manage emotional issues as depression, anxiety, panic attacks, dependency, intimacy and interpersonal relationship issues. He was educated about COPD management plan that involves focusing on self-management and knowing features of exacerbations that may exacerbate in winter (Jenkins, 2012, Bruce, 2007). He should be educated with the need to report changes with reasons for flare-ups, recognizing features of respiratory infection and yearly follow-up. He was advised about the support and rehabilitative sources available (Casey, 2011). He was advised to avoid crowds and contact with persons with respiratory infections and to obtain influenza immunization. Conclusion Epidemiologic data indicate that chronic obstructive pulmonary disease (COPD) is a leading cause of morbidity and mortality. Patients with poorly managed COPD are likely to experience exacerbations that require emergency department visits or hospitalizationtwo important drivers contributing to escalating healthcare resource use and costs associated with the disease. Exacerbations also contribute to worsening lung function and negative outcomes in COPD. The aim of this review is to present the perspective of nurse practitioners and physician assistants in terms of providing the pharmacologic and non-pharmacologic modalities needed to treat current and prevent future exacerbations. Major respiratory guidelines recommend treatment of acute exacerbations with short-acting bronchodilators, oral corticosteroids and antibiotics, as appropriate. Supplementary oxygen and/or ventilatory support may also be beneficial to selected patients. Treatments to minimize the risk of future exacerbations should include maintenance pharmacotherapies, risk-reduction measures (e.g. smoking cessation, influenza and pneumonia vaccinations), pulmonary rehabilitation, self-management support and follow-up care. Thus, this case study discusses in detail about chronic and acute COPD. I have learnt about the pathophysiological sequence of acute and chronic COPD that is caused by chronic smoking. I have learnt about the medical as well as nursing management plans of a patient with acute exacerbations of COPD. I understood about the home-care considerations of patient with portable oxygen and community-support services available with discharge plan for COPD patients. Reference Barnes, P.J. (2014). COPD, An Issue of Clinics in Chest Medicine. Retrieved from https://books.google.co.in/books?isbn=0323260918 Bruce, M.L. McEvoy, P. (2007). COPD: your role in early detection.Nurse Prac.32:2434. Casey, D., Murphy, K., Cooney, A. Mee, L. (2011). Developing a structured education programme for clients with COPD:Br J Community Nurs.16:2317. Currie, G. (2009). Chronic Obstructive Pulmonary Disease (COPD). Retrieved from https://books.google.co.in/books?isbn=0199563683 Eisner, M.D et al. (2010). Committee on Nonsmoking COPD, Environmental and Occupational Health Assembly. An official American Thoracic Society public policy statement: novel risk factors and the global burden of chronic obstructive pulmonary disease:Am J Respir Crit Care Med.182:693718. Garvey, C. Ortiz, G. (2012). Exacerbations of Chronic Obstructive Pulmonary Disease: Open Nurs J. 6: 1319. doi:10.2174/1874434601206010013 Ghoshal, A.G, Dhar, R. Kundu, S. (2012). Treatment of Acute Exacerbation of COPD: SUPPLEMENT TO JAPI. 60: 38- 43 GOLD- Global Initiative for Chronic Obstructive Lung Disease. (2010). Global strategy for diagnosis, management, and prevention of COPD.Retrieved from https://www.goldcopd.org/uploads/users/files/GOLDReport_April112011.pdf Hanania, N.A Sharafkhaneh, A. (2010). COPD: A Guide to Diagnosis and Clinical Management. Retrieved from https://books.google.co.in/books?isbn=1597453579 Harper, E. (2013). Lung foundation Australia: promoting lung health and supporting those with lung disease: J Thorac Dis. 5(4): 572577. doi:10.3978/j.issn.2072-1439.2013.08.39 Hinkle, J.L. (2014). Brunners and Suddarths Textbook of Medical Surgical Nursing. (13th ed.). Philadelphia: Lippincott Williams and Wilkins. Hurst, J.R et al. (2009). Temporal clustering of exacerbations in chronic obstructive pulmonary disease:Am J Respir Crit Care Med.179:36974. Hurst, J.R. (2009). Management and prevention of chronic obstructive pulmonary disease exacerbations: a state of the art review:BMC Med.7:40. Jenkins, C.R et al. (2012). Seasonality and determinants of moderate and severe COPD exacerbations in the TORCH study:Eur Respir J.39(1):3845. Lewis, S.M., Heitkemper, M. M., Dirksen, S.R. (2013). Medical Surgical Nursing: Assessment and Management of Clinical Problems. (9th ed.). Missouri: Mosby. Seo, S.H. (2014). Medical Nutrition Therapy based on Nutrition Intervention for a Patient with Chronic Obstructive Pulmonary Disease: Clin Nutr Res. 3(2): 150156. doi:10.7762/cnr.2014.3.2.150 Toy, E.L et al. (2010). The economic impact of exacerbations of chronic obstructive pulmonary disease and exacerbation definition: a review:COPD.7:21428. Zakrisson, A.B et al. (2011). Nurse-led multidisciplinary programme for patients with COPD in primary health care: a controlled trial:Prim Care Respir J.20(4):42733.

Standard Setting in Political Environment Essay Example

Standard Setting in Political Environment Paper In general, standards, especially auditing standards, have been restricted to the prescribed solution, which has generated a lot Of controversy about the absence of supporting theories and the use of an ad hoc formulating approach. The general trend, however, is to include the description and the reasoned discussion, thereby providing a concise, theoretically supported rule of action. The Public Interest Theory was implicit in our examination of standard-setting. The theory suggests that regulation is required to answer the demand of the public for correction of market failures. The theory assumes that the central authority has the best interests of the society as its objective. In other words it does its best to maximize social welfare. The regulation is a trade off between the costs involved and the benefits received by society. The Interest Group Theory takes the view that an industry operates in the situation where there are a number Of interest groups (constituencies). Development of standard setting approaches in various countries SAAB The International Accounting Standard Board (SAAB) is the independent, accounting standard-setting body of the FIRS. The SAAB was founded on April , 2001 as the successor to the International Accounting Standard Committee (SASS). It is responsible for developing FIRS and promoting the use and application of these standards. The International Financial Reporting Standard (FIRS) was incorporated as a tax-exempt organization in the US state of Delaware. We will write a custom essay sample on Standard Setting in Political Environment specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Standard Setting in Political Environment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Standard Setting in Political Environment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The FIRS also the parent entity of the SAAB, an independent accounting standard-setter based in London, England. The ASP has 14 Board members. They are selected as a group of experts with a mix of experience of standard-setting, preparing and using accounts, and academic work. In January 2009, they have their meeting with the Trustees of the Foundation concluded the first part of the second Constitution Review, announcing the creation of a Monitoring Board and the expansion Of the SAAB to 1 6 members and giving more consideration to the geographical composition of the SAAB. FAST Since 1 973, the Financial Accounting Standards Board (FAST) has been the designated organization in the private sector for establishing standards of financial accounting that governs the preparation of financial reports by nongovernmental entities. Those standards are officially recognized as authoritative by the Securities and Exchange Commission (SEC) and the American Institute of Certified Public Accountants. The SEC has statutory authority to establish financial accounting and reporting standards for publicly held companies under the Securities Exchange Act of 1934. Throughout its history, however, the Commissions policy has been to rely on the private sector for this function to the extent that the private sector demonstrates ability to fulfill the responsibility in the public interest. The mission of the FAST is to establish and improve standards of financial counting and reporting that foster financial reporting by nongovernmental entities that provides decision-useful information to investors and other users of financial reports. That mission is accomplished through a comprehensive and independent process that encourages broad participation, objectively considers all stakeholder views, and is subject to oversight by the Financial Accounting Foundations Board of Trustees. MASS Standard setting in Malaysia entered a new era with the Financial Reporting Act 1997 which established the Financial Reporting Foundation (FRR) and the Malaysian Accounting Standard Board (MASS) in 1997. The Financial Reporting Act 1 997 was gazette on 6 March, 1997. The FRR is established under the Financial Reporting Act 1997 (Act). The FRR comprises representation from all relevant parties in the standard setting process, including preparers, users, regulators and accountancy profession. The FRR, as a trustee body, has responsibility for the oversight of the Mamas performance, financial and funding arrangements, and as an initial source of views for the MASS on proposed standards and pronouncements. It has no erect responsibility with regard to standard setting. This responsibility rests exclusively with the MASS. The aims of the MASS are to implement an efficient, effective structure and due processes for the development of MASS Standards, a conceptual framework and other forms of authoritative guidance. Other than that, MASS also aim to pursue the development of MASS Standards, a conceptual framework and other authoritative guidance on a basis that recognizes that users of financial statements are the primary customer, so that those users are better able to make economic decisions. The MASS established a committee in May, 2002 known as the Issues Committee to replace its predecessor, Interpretation Committee. The change in name reflects the expanded scope of the committee which, in addition to dealing with interpretations of approved accounting standards, also deals with other accounting related issues where there are no existing accounting standards. The committee, hence, is responsible for reviewing accounting issues that have received or likely to receive different views in interpretation and to provide recommendations to the Board for decision. Standard setting approaches Miffs are full convergence, which are copy word by word of Firms issued by the SAAB except for the terminologies. The due process of MIFFS Framework aligns the Mamas due process timeline to that of the SAAB with the aim of putting the new or amended standards in place for adoption and application within a timely manner. This is to ensure, that the effective date of the new or amended standards will be the same as that of Firms. * Stage 1: MASS seeks public comment on Saabs draft technical pronouncements. The SAABS draft technical pronouncements include Discussion paper, Exposure Draft and Request for Views. MASS will disseminate the SAAB draft pronouncements together with an Invitation to Comment to local constituents by publishing on MASS website a Comment Online feature and sending a copy of the documents to the relevant authorities, professional bodies, accounting firms, industry related associations, and public listed companies. The due date for the public to submit comments to MASS is usually one month before Saabs comment deadline so as to allow MASS Working Group and the Board a reasonable time to consider the comments received before making a submission to the SASS. In addition, public forums ay be organized if these SAAB draft pronouncements represent major change or shift from current practice. * Stage 2: Deliberation at the Working Group level on Saabs draft pronouncements The Saabs draft pronouncements will be deliberated in WAG meetings and to provide comment / recommendation to the issues raised in the draft pronouncements for the Boards consideration. The WAG will also consider public comments received and their recommendations on those comments for the Boards consideration. Stage 3: Deliberation at the MASS (the Board). The public comments received, Working Groups comments and commendations will be tabled at the Board for deliberation and consideration. During the discussion, the Board will consider all comments received and thereafter, a comment letter to the SAAB will be prepared and submitted to SAAB accordingly. * Stage 4: Issuance of Standard by SAAB. Following publication of the final standard by the ASP (FIRS), the Working Group w ill deliberate on the changes made, if any, from the draft pronouncements. Thereafter, the Working Groups views or recommendation, including possible issues/ implications, if any, of the FIRS will be presented to he MASS for consideration. * Stage 5: Issuance of standard by MASS. After due deliberation by the Board, copy of the MIFFS (word-for-word with Firms) would be presented to the FRR members for their comments before it being issued as approved accounting standards in Malaysia. Ethics of standard setting It is likely that if there was no regulation, markets would cease to work. Have two motivations, there are the external motivation the enforcement approach, a regulator, and the internal motivation -? the people will want to keep their promises and honor contracts. The more ethically that people behave, the greater reduction there would be in required regulation. One way to look at it would be, for example, if all professionals acted in their own self- interest, ignoring the clients recognition, in due course clients would become very suspicious. Regulations would grow and professionals would be very carefully looked into. However, if professionals can be trusted to act in a trustworthy way, then it could be a win-win situation. It goes beyond adopting a code of ethics. Professionals would have to act professionally towards the client. Professionals must become transparent in their actions so clients will eave full trust in their actions. Certainly professionals have self-interest and this must be taken into account. As some regulation would be required, what about standard setting from an ethical point of view. When accountants are dealing with clients there is very likely an imbalance of accounting knowledge between the two but accountants should not impose their own values on the client. Issues involved in standard setting The standard setting bodies have an ethical issue because the standards set for clients, those who manage the companies, have a third dimension, as the angers interests often conflict with those of the public. Our case is the investing public, the third party. Now investors needs are well served by good disclosure of material. But we have seen in our previous modules that standards that are beneficial to the investor often impose burdens on the managers, volatility. Whose interests should the regulator serve. Dusks ; Dusks, stated the accountant and the regulator can easily reconcile the obligations by acting with integrity. In the long-run the interests of the public and the investor merge. The answer comes across clearly in Dusks amp; Dusks. They argue that the profession has an obligation to look out for the best interests of the client, avoiding the temptation to take advantage of the client; this quotation implies the public interest theory. It is important to consider the debate between what is termed rules-based and principle based accounting standards. It is important to consider the debate between what is termed rules-based and principalities accounting standards. Considering Enrons actions they were strictly based on rules actions Of GAP. They were not based on principles There is a difference. Rules attempt to put down detailed directions to be followed, and it is difficult to cover all situations. The Principle indicates the intent we have in mind and the course we follow. It is putting into effect the real ethics we wish to pursue. Accounting issue in Islamic Financial Institution Accounting standards are developed in various parts of the world and are predominantly developed based on the environment of local jurisdiction and typically the behavior of the large and most often multinational corporations would be subjected to these standards. MASS has also appointed a Working Group to develop a framework of accounting concepts based on the Sharis principles to assist the Board in developing financial accounting and reporting standards for the recognition, measurement and disclosure of transactions based on Sharis principles which would facilitate the development of the Islamic Capital Market. The main characteristics that influenced the environment of an Islamic bank in the Sharis and this has to be central in the development of accounting standards for Islamic banks, which was not part of the consideration of the international standard setter. There are major preferences between Islamic banks and Conventional banks that impose difficulties for Islamic banks to comply with standards not actually meant for them. Appropriate mechanism to track the risks and rewards other than a financial reporting system, which Islamic financial institution were deprived of prior to OAF. Foundation of setting standards for Islamic financial institution is on the basis of filling in a vacuum that conventional standards have left void. OAF did not reject existing GAP standards except in cases where such principles conflict with Shari ah principles. It is clearly stated in Falls Statement of Objectives that it is natural that there should be differences between objectives of other bank and objectives of Islamic bank. The kinds of issues addressed by PAYOFF Standards. Us absence over form The framework of accounting standards by SIS and other generally accepted accounting standards require that the accounting information is presented according to the substance and economic reality and not merely the legal form. Requiring and entity that enjoys a greater of economic benefits of an asset to report the asset in their balance sheet appeared in a leasing contract in consistent with this postulate.