crohns disease Essay - 486 Words

Crohns Disease Crohn s disease is a bowel disease characterized by inflammation of the different layers of the gastrointestinal tract. It can be distinguished from ulcerative colitis (a similar disease) in that Crohn s affects any part of the gut, whereas ulcerative colitis only affects the innermost layer of the colon and rectum. About 15% of Crohn s patients have severe fistulating disease. In this form, ulcer-like channels develop from the bowel wall and burrow all the way to the skin surface. Eventually, 75% of these patients require surgery. It is estimated that approximately one million Americans suffer from Crohns and ulcerative colitis. The total cost for Crohns disease was $43.1 million in 1994. While drug therapy accounted†¦show more content†¦s symptoms, supported by x-rays and biopsies of the small and large intestine. Tumor necrosis factor alpha, TNFa, a protein released when the immune system is activated, is a major catalyst in the inflammatory process and is believed to play a major role in the pathogenesis of the disease. Intestinal obstruction secondary to active inflammation is the most common complication. Patients with colonic involvement are at risk for developing colon cancer. Subsets of patients develop fistulas that are usually managed by medication or parental nutrition, but may require surgery. Nutritional and vitamin deficiencies are common, resulting from inadequate diet, intestinal loss of protein, or malabsorption. Systemic complications may include arthritis, skin lesions, anemia, liver and biliary disease, inflammation of the eyes or mouth, and bleeding disorders. Some of these problems resolve during treatment of the disease, but some may be treated separately. Consultations with dietitians, wound care specialists, or pain management clinicians and physiological support clinicians are not uncommon. There is no cure for Crohns disease. The goals of therapy aim to control inflammation, correct nutritional deficiencies, and relieve symptoms. This involves medications, nutritional supplements, surgery, or any combination of these factors. Medications used in treating Crohns disease include salicylates (sulfasalazine, Asacol ®, Dipentum ®, and Pentasa ®),Show MoreRelatedCrohn s Disease And Disease3608 Words   |  15 PagesCROHN’S DISEASE Crohn’s Disease is a chronic inflammation of the gastrointestinal (â€Å"GI†) tract that can occur anywhere along the alimentary canal from the mouth to the anus. It is the second most common form of Inflammatory Bowel Disease (â€Å"IBD†) after Ulcerative Colitis and can be hard to distinguish from it due to the overlapping signs and symptoms. They are not, however, the same. With Crohn’s Disease the inflammation most often occurs in the small intestine at the end of the ileum and continuesRead MoreLiving With Crohn s Disease1126 Words   |  5 PagesLiving with Crohn’s Disease Sharon is a 17 year old young women, her mother noticed that Sharon had lost a significant amount of weight, and she looked pale and had dark circles under her eyes. Sharon was complaining of severe diarrhea, stomach cramps, and after battling this for weeks she was extremely tired. Her doctor conducted a standard physical exam, and interviewed Sharon about her general health, diet, family history, and environment. Her doctor performed laboratory tests of blood and stoolRead MoreWomen With Crohn s Disease1564 Words   |  7 Pagesup for their obvious suffering, or because you have no idea what else to say. I have done this before, and I’m sure I’ll do it again, but sometimes those compliments can be harmful. 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Crohn’s is an autoimmune disease that affects many parts of the body. These parts include, but are not limited to the eyes, skin, liver, and most heavily the intestines. When you have Crohn s disease, your body s immune system begins attacking all of healthy cells in your GI tract, which causes inflammation. Crohn’s is an incurable disease, but because of new medicine and treatment o ptions, Crohn’s has become a livable disease. Crohn s has many different symptoms, and theseRead MoreCrohn s Disease And The Inflammatory Process1108 Words   |  5 Pages Crohn’s Disease and the Inflammatory Process Crohn s disease is an inflammatory process in the intestines that is marked by abnormal inflammation of the GI tract. Crohn’s disease is treated with a variety of single or combined therapies that work at decreasing inflammatory process. Within this essay, I will discuss the etiology and pathophysiology of Crohn’s disease, the evidence- based- practice treatment of Crohn’s and how these medications work in reducing the inflammatory process. IRead MoreInformative Speech Crohn s Disease761 Words   |  3 Pagesï » ¿Informative Speech (Crohn’s Disease) General Purpose: To inform the audience about what Crohn’s Disease Specific Purpose: To inform my audience about Crohn’s Disease and give them a better understanding of what it is. Introduction I was a 14 year old freshman in high school when I started getting sick. I was always a pretty healthy kid who had perfect attendance records UNTIL that year. The extreme fatigue and weight-loss was the main sign to my mom that something was seriously wrong. AroundRead MoreSymptoms And Treatment Of Crohn s Disease1306 Words   |  6 PagesCrohn’s disease had a long way to travel before it was given its name. In 1913, Dr. Dalzid was the first to recognize that there was a disease that was different from intestinal tuberculosis (Dr. Crohn, 2009-2015). He noticed this difference, and had a hypothesis that this different disease could be caused by a different bacteria. His scientific guess was that this different disease was caused by mycobacterium (Dr. Crohn, 2009-2015). Yet, all of the test done on the tissue that was taken from patientsRead MoreSymptoms And Treatment Of Crohn s Disease1836 Words   |  8 Pagesto someone with Crohn’s Disease. â€Å"But You Look So Good† I understand not knowing what to say when someone you care about is sick, and it makes sense to grab for something nice to say about that person when you are at a loss. You want to give them a compliment to make up for their obvious suffering, or because you have no idea what else to say. I have done this before, and I’m sure I’ll do it again, but sometimes those compliments can be harmful. Women with Crohn’s Disease have been found in a recentRead MoreCrohn s Disease ( Cd )1736 Words   |  7 PagesCrohn’s disease (CD) is a life-long, chronic, idiopathic inflammatory condition of the intestines that is characterized by frequent symptomatic relapse and remission. It involves inflammation and ulceration of various regions of the gastrointestinal tract (GI tract) lining, which often extends deep into the layers of the affected areas. The associated inflammation and ulceration of the disease affects various segments of the intestines with unaffected bowel occuring between the diseased areas. CD

Samuelsons Dictum and the Stock Market - 5643 Words

SAMUELSON’S DICTUM AND THE STOCK MARKET BY JEEMAN JUNG and ROBERT J. SHILLER COWLES FOUNDATION PAPER NO. 1183 COWLES FOUNDATION FOR RESEARCH IN ECONOMICS YALE UNIVERSITY Box 208281 New Haven, Connecticut 06520-8281 2006 http://cowles.econ.yale.edu/ SAMUELSON’S DICTUM AND THE STOCK MARKET JEEMAN JUNG and ROBERT J. SHILLER* Samuelson has offered the dictum that the stock market is ‘‘micro efï ¬ cient’’ but ‘‘macro inefï ¬ cient.’’ That is, the efï ¬ cient markets hypothesis works much better for individual stocks than it does for the aggregate stock market. In this article, we review a strand of evidence in recent literature that supports Samuelson’s dictum and present one simple test, based on a regression and a simple scatter†¦show more content†¦If changes in aggregate dividends are harder to predict, we might then expect that factors other than information about fundamentals, factors such as stock market booms and busts, would swamp out the effect of information about future dividends in determining price and make the simple efï ¬ cient markets model a bad approximation for the aggregate stock market. II. EVIDENCE IN THE LITERATURE FOR SAMUELSON’S DICTUM There is now substantial evidence in the published literature for Samuelson’s dictum. One of us (Shiller 1981) presented evidence that was interpreted as ï ¬ nding evidence of ‘‘excess volatility’’ in the stock market relative to the efï ¬ cient markets model using U.S. data 1871–1979 (see also LeRoy and Porter 1981; Campbell 1991). The same methods did not ï ¬ nd much evidence of inefï ¬ ciency in other principal components of industry stock market indexes over the same time interval (Shiller 1989, ch. 11). In this sense, the aggregate market was found to be inefï ¬ cient and the industry deviations from the aggregate market were not found to be inefï ¬ cient. To deal with criticisms that these

Ophelia Parker’s Moment with Chanel Free Essays

These were the rich and famous women of the Big Apple, the Broadway actresses, the wives of millionaires, or as I called them, the â€Å"Fur Coat Ladies. † They all exuded glamour, which I, Aphelia Parker, wanted more than anything. But Instead of that, I got living In a middle class environment and going to a regular high school. We will write a custom essay sample on Ophelia Parker’s Moment with Chanel or any similar topic only for you Order Now But I was lucky enough to marry my high school sweetheart, James Richard Parker. We were madly In love, so It was pretty easy to convince him to save up enough money for a honeymoon in Paris, France. Honeymooning in Paris Is excellent by Itself, but I had no Idea what amazing opportunity it had in store for me. On February 5, 1954, at around nine in the morning, I went on a walk by myself through town. Except this was not the town I usually walked through, for it was Paris, France. I was aware of the fact that Coco Channel, also known as my role model, was holding her well anticipated comeback show in Paris that day. I wanted to get a ticket, but they were sold out. As I walked past the venue of the show, there were already any well-dressed people, most of them with cameras and notepads, hoping to sneak a peek at the new collection. And that was when I Molly saw her: the most glamorous woman In the world, the woman to whom I looked up the most, Coco Channel, was within walking distance of me. I was staring intensely at her impeccable outfit: a small, black wool hat, a glossy pair of pearl drop earrings that were matched up with an even glossier pearl necklace, a black and white tweed skirt suit, a silky black shirt, sheer black stockings, and carefully crafted leather high led shoes. I then saw her pointing at me and a feeling of fear quickly came over me. Immediately after that, Coco and a young man in a well-tailored suit walked over to me. The man asked me, in French, if I could model, and being fluent in French, I answered that I could. Coco and the man told me to come with them, and before I knew It, I was whisked Into the magical world of fashion. The scenario that was occurring at Cocas show was that one of her models had abruptly fallen Ill, and I was literally pulled from the streets to take her place. While tanning nervously backstage, I was handed one of the most flawless outfits I had ever seen: a perfectly stitched Ana suit. It contained a box jacket and pants; a crafted leather high heeled shoes. I was told not only that this is the outfit that I would be wearing onstage but that I would be the first model to walk across the runway! All I had to do was simply walk to the end of the runway, turn around, and walk backstage. That is exactly what I did when it was time to do so. I can still vividly remember the hot, bright stage light shining down on me as if it was the Sun, the illicit-clack of the high heeled shoes on the smooth runway, and the feeling of hundreds of pairs of eyes fixated on me, a regular girl from the United States of America, modeling in Coco Channel’s comeback show in Paris. After Coco gave me 400 Euros for filling in for the sick model, I resumed my honeymoon with James. When we got back to New York City, I went back to witnessing at an Italian restaurant, and he went back to work in construction. We eventually got teaching Jobs at our old high school, with James teaching mathematics ND me teaching French. I was also the proud owner of a youth theater until I sold it in 1992, which was also the year I retired from teaching. Two of its biggest stars were my daughters, Betty and Sally, who both went on to be actresses on Broadway. James passed away yesterday morning in his sleep, and while going through his belongings, I discovered the pictures of our honeymoon, bringing me back to this experience. It made me realize that even though I never became a â€Å"Fur Coat Lady,† being the first model in Coco Channel’s comeback show was Just as great in my opinion. How to cite Ophelia Parker’s Moment with Chanel, Papers Ophelia Parker’s Moment with Chanel Free Essays They wore soft fur coats; shiny, ivory colored pearls upon their necks; slinky satin dresses; and carefully crafted leather high heeled shoes. These ere the rich and famous women of the Big Apple, the Broadway actresses, the wives of millionaires, or as I called them, the â€Å"Fur Coat Ladies. † They all exuded glamour, which l, Aphelia Parker, wanted more than anything. We will write a custom essay sample on Ophelia Parker’s Moment with Chanel or any similar topic only for you Order Now But instead of that, I got living in a middle class environment and going to a regular high school. But I was lucky enough to marry my high school sweetheart, James Richard Parker. We were madly in love, so it was pretty easy to convince him to save up enough money for a honeymoon in Paris, France. Honeymooning in Paris is exciting by itself, but I had no idea what amazing opportunity it had in store for me. On February 5, 1954, at around nine in the morning, I went on a walk by myself through town. Except this was not the town I usually walked through, for it was Paris, France. I was aware of the fact that Coco Channel, also known as my role model, was holding her well anticipated comeback show in Paris that day. I wanted to get a ticket, but they were sold out. As I walked past the venue of the show, there were already many well-dressed people, most of them with cameras and notepads, hoping to sneak a peek at the new collection. And that was when I Molly FOX @02927528 saw her: the most glamorous woman in the world, the woman to whom I looked up the most, Coco Channel, was within walking distance of me. I was staring intensely at her impeccable outfit: a small, black wool hat, a glossy pair of pearl drop earrings that were matched up with an even glossier pearl necklace, a black and white tweed skirt suit, a silky black shirt, sheer black stockings, and carefully crafted leather high heeled shoes. I then saw her pointing at me and a feeling of fear quickly came over me. Immediately after that, Coco and a young man in a well-tailored suit walked over to me. The man asked me, in French, if I could model, and being fluent in French, I answered that I could. Coco and the man told me to come with them, and before I knew it, I was whisked into the magical world of fashion. The scenario that was occurring at Coco’s show was that one of her models had abruptly fallen ill, and I was literally pulled from the streets to take her place. While standing nervously backstage, I was handed one of the most flawless outfits I had ever seen: a perfectly stitched Ana suit. It contained a box Jacket and pants; a matching Ana bootee made of cotton; a crisp, white button down shirt; and carefully crafted leather high heeled shoes. I was told not only that this is the outfit that I would be wearing onstage but that I would be the first model to walk across the runway! All I had to do was simply walk to the end of the runway, turn around, and walk backstage. That is exactly what I did when it was time to do so. I can still vividly remember the hot, bright stage light shining down on me as if it was the Sun, the licked-clack of the high heeled shoes on the smooth runway, and the feeling of hundreds of pairs of eyes fixated on me, a regular girl from the United States of America, modeling in Coco Channel’s comeback show in Paris. After Coco gave me 400 Euros for filling in for the sick model, I resumed my honeymoon with James. When we got back to New York City, I went back to witnessing at an Italian restaurant, and he went back to work in construction. We eventually got teaching Jobs at our old high school, with James teaching mathematics and me teaching French. I was also the proud owner of a youth theater until I sold it in 1992, which was also the year I retired from teaching. Two of its biggest stars were my daughters, Betty and Sally, who both went on to be actresses on Broadway. James passed away yesterday morning in his sleep, and while going through his belongings, I discovered the pictures of our honeymoon, bringing me back to this experience. It made me realize that even though I never became a â€Å"Fur Coat Lady,† being the first model in Coco Channel’s comeback show was Just as great in my opinion. How to cite Ophelia Parker’s Moment with Chanel, Papers

Evolution of Auditing Free-Samples for Studentsâ€Myassignmenthelp

Questions: 1.Compare the Changes in the New Auditor Reporting to the Previous Audit Report in ASX annual report 2016. 2.How the New Auditor reporting Enhances the Qualitative Characteristics of Financial Information (SAC 3)? Answers: Introduction An auditor is usually responsible in articulating their opinion in regard to the financial statements through audit. This is usually based or conducted in accordance with the Australia Auditing Standards. These standards require an auditor to carry out the audit work in compliance with relevant ethical standards relating to the audit engagements and plans and performing audit in order to acquire reasonable assurance whether financial reports are from any material misstatement. In essence, an audit usually entails performing procedures in order to get audit evidence on disclosures and amounts in financial report (Ettredge, Heintz, Li Scholz 2011). As a result auditors reports are some of the primary deliverable addressing output of audit work. While all the users of financial reports have signalled that auditors opinion on financial reports is valued, several have requested for an auditors report which is more relevant and informative (Ye Simunic 2013). With these, there has been ad option of the new auditor reporting requests and some related conforming amendments. Variations in the auditors reporting standard was mainly driven by call from analysts and investors far back in the year 2009, in finding means they as well as other users of the audited financial reports might benefits from these considerable understanding which auditors has on audited firm by reporting more audit specific and entity-specific information in their reports (Henderson, Peirson, Herbohn Howieson 2015). This provided extra insights in financial reporting and audited firm resulting in the auditors reports which is relatively significant, more transparent and more informative on audit being performed in the financial statements. The new auditors reporting standards entails the new ASA 570, ASA 701, ASA 700, ASA 706, ASA 705 as well as the ASA 720. With these considerations, this paper presents a discussion of the variation in the new auditor reporting in ASX annual report 2016. 1.Comparison of the Changes in the New Auditor Reporting to the Previous Audit Report in ASX annual report 2016 The new auditors reporting in the ASX annual report 2016differs with the previous audit report in terms of auditors opinion. Here, auditors opinion is current being offered at the commencement of the audit report with basis for the opinion paragraph following thereafter this is totally different from the previous audit report. In addition, auditor reporting in ASX annual report 2016 differs from the previous audit report in terms of management responsibilities. In this case, the new audit reporting requirements now comprises of new paragraph on evaluating organizations capacity to continue as the going concern, disclosing the most applicable issues relating to the going concern as well as using going concern foundation of the accounting. In addition, description of the auditors responsibilities have been greatly enhanced in order to include how an auditor exercises professional judgements; that is assesses and identifies risk, assesses accounting policies, understand internal control as well as concludes on the managements utilization of going concern in accounting as well as identifies any material uncertainties; complies with the independence requirements and communicates with individuals in charge of governance. All these disclosures are currently placed within the appendix of the auditors report which is contrary to the previous auditor report. In addition, under the new auditor reporting in ASX annual report 2016, the auditors opinion is usually located first as compared to the previous audit report. Further after the auditors opinion has been located, the new auditor reporting for the opinion paragraph then follow the opinion which state audit that audit was conducted in compliance with AAS, followed by the independence statement. This is contrary to the previous audit report that did not have to follow such requirements. Another difference that is evident in ASX annual report 2016 which is prepared in accordance with the new auditor reporting standard is that the report has enhanced explanation of auditors responsibilities including the conclusion on the managements utilization of going concern accounting as compared to the previous auditor report. Further, the new auditor report for ASX annual report 2016 is totally different from the previous auditor report in that it present auditors responsibilities particularly how the auditor communicate with the management in regard with planned scope, significant audit findings, timing of the work as well as significant deficiencies in the internal control. Under the new auditor report, there is not introductory paragraph that is included as it was in the previous auditor report. Here, introduction is usually included as part of succeeding audit opinion portion. In addition, under the new auditor report, auditors opinion section is usually included at top immediately after the recipient this is contrary to the previous auditor report that included auditors opinion in the body of audit report. Furthermore, under the new auditor report, auditors opinion is usually expressed prior to basis for opinion contrary to the previous auditor report where the auditors opinion was expressed after basis for opinion as modified opinion or below the auditors responsibility portion in case of the unmodified opinion. Under the new auditor report opinion portion of the current ASX annual report identify organization whose AFS have been audited, identify title of every statement comprising of the AFS, state that AFS have been audited except disclaimer of the opinion is expressed in those cases it should state that an auditor was mainly engaged to audit (Byrnes et al 2015). Further, under the new auditor report, basis for opinion portion is usually included for all auditors opinion including unmodified opinion this is contrary to the previous auditor report where basis for opinion portion is not necessarily included for all auditors opinions but only for the modified opinions. In essence, under the new auditor report, the basis for opinion portion is usually included after opinion portion of the report contrary to the previous auditor report where basis for opinion portion is included before opinion portion of the report. Under the current or new auditor report, the basis for opinion portion states how the audit was conducted based on AAS, referring to section of auditor report which describes the auditors responsibilities, as well as including the statement that auditor has mainly complied with all the ethical requirements particularly stating auditors independence. In addition, under the new auditor report the basis for opinion portion also include the statement that auditor exercised professional skeptism all through the audit work stating whether auditor believes that audit evidence acquired is appropriate and adequate in providing basis for opinion which is contrary to the previous auditor report where the basis for opinion were not explicitly require d under the section. Further, under the new auditor report, going concern is reported in separate section under the separate paragraph and heading unlike under the previous auditor report where going concern was intrinsic within audit report and where there was no distinct section in reporting on the going concern. In addition, under the new auditor reporting in case of material uncertainty which could cast doubt on audited companys capacity in continuing as the going concern exist, auditors include separate section in their report under material uncertainty related to the going concerns (Griffin Wright 2015). This is contrary to the previous auditor report whereby in case of material uncertainty which could cast doubt on audited capacity to continue as the going concern auditors included an emphasis of the matter paragraph. Under the new auditor report, audit included separate section under Key audit matters which is placed in the close proximity to auditors opinion in providing suitable prominence to communicated data as well as in acknowledging perceived value of the engagement-specific data to the intended users. This is contrary to the previous auditor report where key audit maters that were recorded were not specifically needed to be reported on distinct segment of the report. In addition, under the new auditor report, the responsibilities for the financial statements sections are positioned far below the opinion segment to add value to users of the financial reports. This contradicts to the previous auditor report where the responsibilities for the financial statement were mainly position at top of the report just below introductory segment before opinion segment (Westermann, Bedard Earley 2015). In addition, under the new auditor report, the auditor explicitly communicate in responsibilities for the financial statements segment that managements are responsible for evaluating an organizations capacity to continue as the going concern. This is contrary to the previous audit report whereby the auditor was not openly or clearly required to communicate in the responsibilities for the financial statements segment of the report that the managements is primarily responsible for evaluating the firms capacity to continue as the going concern (Kumar Sharma 2015). In addition, under the new auditor report, the auditors responsibilities segment has been positioned in the body of the report, far below opinion segment in adding value to users of the financial statements (Potter, Ravlic Wright 2013). This contradicts the previous auditor report where the auditors responsibilities segment for the ASX annual report was mainly positioned below managements responsibilities segment just before opinion segment. Furthermore, under the new auditor report, explanation of the auditors responsibilities is either steak inside the ASX auditors report contrary to the previous auditor report where auditors responsibilities section was in the body of the report. In addition, under the new auditor report, the auditors responsibilities segment explicitly state objectives of an auditor that misstatements could arise from error or fraud and could describe that such misstatement could be considered material. Such contradicts with the previous auditor report where by the auditors responsibilities segment did not explicitly indicate any of the requirements as they were indicated anywhere in the report. For instance, auditors objectives were stated in introductory segment of the previous auditor report. Further, the name of engagement partner under the new auditor report for ASX annual report 2016 is explicitly included in the report. Such is opposite to the previous auditor report where the name of engagement partner by the company was not particularly required to be put in the report. Under the new auditor report, other information section in the ASX annual report 2016 is included immediately after all the key audit matters are presented in the report. On the contrary under the previous auditor report, other information segment was not explicitly positioned here. Further, the new auditor reporting is usually restructured in a manner that positions the entity and audit-specific information, to be more specific, the audit opinion, in the start of audit report. This is not the case in the previous auditor report where there the report was not restructured for readability as in the new auditor report. 2.the new auditor reporting enhances the Qualitative Characteristics of Financial Information (SAC 3) The SAC 3 identifies objectives of the financial reporting as the disclosures of the information crucial to different users for evaluating and making decisions in regard to distribution of resources. The general objective of the SAC 3 is usually to identify attributes which financial information of an organization needs to possess in case it want to serve specified goals (AASB 2004). In essence, qualitative characteristics of financial information identifies type of financial information which are more likely to be significant to potential and existing lenders, investors as well as other creditors for making their decisions on reporting firm on the basis of data in the financial report. Under this case, for the financial information to be significant, it should faithfully represent what it aims to represent and should be relevant. Usefulness if the financial data is usually enhanced once there is verifiable, understandable, timely and comparable information. Thus the most fundamental or crucial qualitative characteristics of the financial information are faithful representation and relevance. With these considerations, this section presents analysis of how the new auditor reporting would enhance qualitative characteristic of the financial information. To start with, the new auditor reporting standards would enhance qualitative characteristics of the financial information in that it would enhance communication in between the investors and auditor as well as in between the auditor and individuals in charge of the governance (Botzem 2012). This in turn enhances, clear communication of the financial information to the relevant individuals. It would also enhance augmented attention by the management and individuals in charge with governance to different disclosures in the organizations financial statements which auditors report make their references. The new auditor reporting standards would enhance Qualitative Characteristics of Financial Information by taking into account of all areas that has higher assessed risk of the material misstatement or crucial risks identified as per the required accounting standards (Krahel Titera 2015). The new auditor reporting would enhance qualitative characteristics of the financial information in ASX annual report 2016 in that with the requirements for the company to include auditors responsibility paragraph, this section to the body of auditors report permits for users of financial statement to comprehend value that the auditor could bring to financial reporting process. In addition, the new auditor reporting enhances qualitative characteristics of the financial information in that is permit for materiality where any information that is material is clearly represented in the auditor report (Power Gendron 2015). This is crucial since it influences decisions which users make based on the financial information in regard to particular reporting firm. In addition, the new auditor reporting enhances qualitative characteristics of the financial information by enhance faithful representation. Here, the new auditor report represents the economic phenomena in the financial report both in numbers and words. This is relevant since for the financial information to have qualitative characteristics such as to be relevant, it should faithfully represent the required phenomena it purports to present. In addition, the new auditor reporting enhances qualitative characteristics of the financial information in that it depicts all the information necessary for the users to understand the audit report, including all the necessary explanations and descriptions (Arens, Elder Mark 2012). Verifiability, understandability, timeliness as well as comparability are some of the qualitative characteristics which enhance usefulness of the financial information (AASB 2004). Therefore, the new auditor reporting, enhanced qualitative characteristics of the financial information by ensuring that all the relevant information are presented in a concise and precise manner for easier understandability of the information. In essence, the new auditor reporting classifies and presents the financial information concisely and clearly making the information understandable. Conclusion In conclusion, auditors reports are some of the primary deliverable addressing output of audit work. With these, there has been adoption of the new auditor reporting requirements and some connected compliant alterations. The new auditors report entails the new ASA 570, ASA 701, ASA 700, ASA 706, ASA 705 as well as the ASA 720. In addition, it can be concluded that the new auditors reporting in the ASX annual report 2016 differs with the previous audit report in auditors opinion section where auditors opinion in the new auditor report is current being presented at the start of the report with basis for the opinion paragraph following thereafter this is totally different from the previous audit report. It can be concluded that in the ASX annual report 2016 the new auditor report has enhanced explanation of auditors responsibilities comprising of conclusion on the managements utilization of going concern accounting as compared to the previous auditor report. Therefore, it is evident tha t the new auditor reporting differs significantly from the previous audit report. References AASB, F 2004, Framework for the Preparation and Presentation of Financial Statements. AASB (AASB). Arens, A, Elder, RJ Mark, B 2012 Auditing and assurance services: an integrated approach. Boston: Prentice Hall. Botzem, S 2012, The politics of accounting regulation: Organizing transnational standard setting in financial reporting. Edward Elgar Publishing. Byrnes et al 2015, Evolution of Auditing: From the Traditional Approach to the Future Audit, Audit Analytics, 71. Ettredge, M, Heintz, J, Li, C Scholz, S 2011, Auditor realignments accompanying implementation of SOX 404 ICFR reporting requirements, Accounting Horizons, 25(1), 17-39. Griffin, PA Wright, AM 2015, Commentaries on Big Data's importance for accounting and auditing. Accounting Horizons, 29(2), 377-379. Henderson, S, Peirson, G, Herbohn, K, Howieson, B 2015, Issues in financial accounting. Pearson Higher Education AU. Krahel, JP Titera, WR 2015, Consequences of Big Data and formalization on accounting and auditing standards. Accounting Horizons, 29(2), 409-422. Kumar, R Sharma, V 2015, Auditing: Principles and practice. PHI Learning Pvt. Ltd.. Potter, B, Ravlic, T Wright, S 2013, Developing accounting regulations that reflect public viewpoints: The Australian solution to differential reporting, Australian Accounting Review, 23(1), 18-28. Power, MK Gendron, Y 2015, Qualitative research in auditing: A methodological roadmap. Auditing: A Journal of Practice Theory, 34(2), 147-165. Westermann, KD, Bedard, JC Earley, CE 2015, Learning the Craft of Auditing: A Dynamic View of Auditors' On?the?Job Learning, Contemporary accounting research, 32(3), 864-896. Ye, M Simunic, DA 2013, The economics of setting auditing standards, Contemporary Accounting Research, 30(3), 1191-1215.