The Death Of The Black Death - 1380 Words

The Black Death was a very important time in history and, while devastating, it led to many advances in medicine due to the mass spread of a new deadly disease. The 14th Century encompassed the time period of January 1, 1301 to December 31, 1400. When this disease struck, Ole J. Benedictow calculates that it killed about 50 million people in Europe alone, which was about 60% of Europe’s population at the time. That being said, the Black Death, often referred to as the Bubonic Plague, clocked in the death toll at about 75 million people. The Plague reached France, Norway, Denmark, and Britain, making it the largest and worst plague to ever strike against mankind. To add perspective, The Black Death struck around 1348 and lasted almost†¦show more content†¦These bumps can appear anywhere and everywhere on the human body. As previously mentioned, one way to contract plague was through fleas. They would usually take a wild rodent as their host, such as rats. These hosts would wander all over, giving the fleas a chance to jump on people and bite them, infecting their blood. These people would then continue to spread it to others, through bodily fluids. Access to health care is a recent social commodity. During the times of the Black Plague the general population did not have access to health care or the means to pay for medication of medical attention. Only individuals with wealth could afford to live with such a luxury. The rest of the general population was left to contract a horrible disease and fend for themselves. Some of the things that the Black Plague would do to the human body were most likely accompanied by immense pain. The lymph glands would swell and turn into lymph nodes, which are large and painful bumps. Also, a bacteria known as Yersinia Pestis is believed to be the cause of plague. This bacteria causes healthy tissue to slowly deteriorate and eventually die. The dead and dying tissue turns black. This side effect is what gives the disease its name. To prevent the spread of the Plague from patient to doctor, doctors would wear special hazmat suits. The main part, and the part that draws the most attention, is the mask. First, there was aShow MoreRelatedThe Death Of The Black Death1148 Words   |  5 PagesThe Black Death, one of the greatest natural disaster to hit Europe thus causing the death of many people in the most horrific manner and cause the end of feudalism. This was a disaster that affected one third of the European continent and also one that no one was prepared to face. It killed more people than during a war and it impacted simple lives of people, their culture, religion and the economy as a whole. The origin of The Black Death has several explanations. Some people said The Black DeathRead MoreThe Death Of The Black Death905 Words   |  4 Pagesgrew were dying. On the wake of these seven distressing years of weather and famine was the greatest plague of all times, The Black Death. In 1347 AD, The Black Death began spreading throughout Western Europe. Over the time span of three years, the widespread epidemic killed one third of the population in Europe with pretty near twenty five million people dead. The Black Death killed many more Europeans than any other endemic or war up to that time, vastly impacting the Church, the people, and the economyRead MoreThe Death Of The Black Death1223 Words   |  5 PagesIn the 1300s, the Black Death swept across the western world, leaving behind a different perspective on the world. The Black Death rampaged through cities, killing thousands of people a day, leaving the remaining citizens distraught. With the multitude of death, many peop le began to contemplate what the afterlife held in store for them. Therefore, pieces like the Dance of Death, transi tombs, the Three Living and Three Dead, and many other artistic expressions about death began to appear. The artisticRead MoreThe Death Of The Black Death2017 Words   |  9 PagesThe Black Death The pandemic known to history as the Black Death was one of the world’s worst natural disasters in history. It was a critical time for many as the plague hit Europe and â€Å"devastated the Western world from 1347 to 1351, killing 25%-50% of Europe’s population and causing or accelerating marked political, economic, social, and cultural changes.† The plague made an unforgettable impact on the history of the West. It is believed to have originated somewhere in the steppes of central AsiaRead MoreThe Death Of The Black Death1487 Words   |  6 Pages Hundred year’s war led to the black death: During the hundred year’s war, people began to catch a terrible sickness that was spreading along Mongol trade routes through central Asia to both china and Western Europe. This sickness was called the bubonic plague. The bacteria was infecting people when infected fleas bit them. Bubonic plague was one of the most feared diseases pf the ancient and medieval worlds. 2.City-states led to The renaissance in Italy: Renaissance society first tookRead MoreThe Death Of The Black Death1778 Words   |  8 Pages Fear. Uncertainty. Survival. These three words became synonymous with life in Western Europe during the period of the Black Death. This grim period represents a dark era in European history when a devastating outbreak resulted in a significant amount of instability, decline in population, and economic, political and cultural upheaval. In the face of this terrifying calamity, human judgement was put to the test as fear and uncertainty made people react to the plague in extreme ways. Socially, theRead MoreThe Death Of The Black Death1783 Words   |  8 PagesThe Black Death was one of the worst pandemics in history. The disease ravaged Europe, Western Asia, the Middle East, and North Africa between 1346 and 1353 (Horrox 1994). It is difficult to understand the reality of such a devastating event, especially given the fact that science during the middle ages was severely underdeveloped. No one knew about bacteria, viruses, or other microbial agents of disease (Benedictow 2004). They ha d no way of protecting themselves during that time and no one was safeRead MoreThe Causes Of Death : The Death Of The Black Death820 Words   |  4 PagesThe Black Death was a disastrous disease that spread across Europe in the years 1346-53. The name although might be a mistranslation of the Latin word ‘atra’ meaning both ‘terrible’ and ‘black.’ Meaning the people of the time probably called it the terrible death, not the black death. One major poet of the time thought that nobody would believe what they went through and thought their testimonies would be seen as fables. In the course of just a few months, 60 percent of Florence’s population wasRead MoreThe Black Death1386 Words   |  6 Pagesatrocious and it made the perfect place for Yersinia Pestis to thrive. Yersinia Pestis is the virus responsible for the Black Death, a deadly disease that rapidly powered through Europe, killing nearly all of the people in its way. The Black Dea th had a lot of gruesome and terrifying symptoms that made bystanders sick just watching. Certain people were more likely to acquire the Black Death than others. Since peasants had worse living conditions than the nobility, they were far more likely to catch theRead MoreThe Black Death1386 Words   |  6 Pagesatrocious and it made the perfect place for Yersinia Pestis to thrive. Yersinia Pestis is the virus responsible for the Black Death, a deadly disease that rapidly powered through Europe, killing nearly all of the people in its way. The Black Death had a lot of gruesome and terrifying symptoms that made bystanders sick just watching. Certain people were more likely to acquire the Black Death than others. Since peasants had worse living conditions than the nobility, they were far more likely to catch the

Comparison of the Book Cyrano de Bergerac and the Movie,...

The book, Cyrano de Bergerac and the movie, Roxanne have many similarities and differences. This includes the plot, characterization, setting, conflict, and irony. The plot in both the movie and the book are similar. In both, Cyrano is trying to help Roxanne and Christian fall in love with each other, even though he loves Roxanne. Cyrano writes letters to Roxanne telling her how much he loves her, pretending to be Christian. He loves Roxanne, but feels that he is ugly and could never get her to love him back because of his huge nose. The book and movie have the same main characters playing the same roles. Cyrano is charming, poetic, and witty with a huge nose in both the book and the movie. Women love Cyrano as a friend but†¦show more content†¦Christian’s name is shortened to Chris, Cyrano is shortened to CD, and Roxanne’s name is spelled with only one â€Å"n† in the movie. Many characters in the book are not included in the movie. This include s Comte De Guiche, Ragueneau, Le Bert, Liniere, and some others. These characters were replaced in the movie by fire fighters working under Cyrano. The character Dixie is included in the movie but not in the book; Dixie is Cyrano and Roxannes best friend who owns a restaurant. The setting is based in towns in both the movie and book. However, the book’s setting was in a rural France and the movie takes place in a modern suburban in America. The time period in the book was 1640 and the time in the movie was in present day. The conflict is similar at the beginning of both stories. Cyrano loves Roxanne, but Roxanne loves Christian who does not know how to talk to her. Therefore, Christian has Cyrano write letters to Roxanne pretending that Christian really wrote the letters. Cyrano feels that his big nose makes him ugly, and no one could ever love him. The ending of the story changes in the movie from the book. In the book, Christian is killed in the war. Cyrano never tells Roxanne that he wrote the letters and ends up dying at her side fourteen years later. In the movie, Roxanne leaves to go to a convention instead of Christian leaving for war. Christian ends up meeting a new woman and ends up leaving with her, while

Nature of thought Free Essays

Thinking: the activity of the brain that can potentially be communicated. Inform thoughts become your words become your actions become your habits become your character become you. † (Gary R. We will write a custom essay sample on Nature of thought or any similar topic only for you Order Now Kirby and Jeffery R. Godparent, Thinking, 2007) What makes human thinking unique is the fact that our thoughts are made up of language. Language allows us to see things differently by channeling our thinking and perceptions. Our thoughts are influenced by the language we use to describe them. The languages we use may too be influenced by personal barriers. Personal barriers include self- serving biases, cognitive distortions that put us in a favorable position. Stereotypes, being biased toward members of a certain group. Emotional influences also effect and inspire human thought. Emotion is what differentiates human beings from animals. We as humans think to communicate, using different languages that are influenced by barriers based upon memories. Memory plays an important role in thinking. Without memory we can’t think. According to Richard Paul and Linda Elder, Journal of Developmental Education, â€Å"Everything we learn is related to everything we learn and learning things in relation to each other makes each of the things we learn more memorable, more intelligible, and more useful. † Without memory we’d have no future to imagining and no past to consider. Getting an adequate amount of sleep is essential to the critical thinking process. Sleep debt can negatively affect our mood, motivation, memory, decision making, concentration, problem solving, and logical thinking (Corer, 1996). So in order to think big we must stimulate the brain with intellectual activity and enhance our memory. Enhancing memory includes making information meaningful, by associating new information with what we already know well, by using mnemonic techniques and by repetition and practice. Listening to the recollections of others and being open to the possibilities. Finding relevance of the information, how it relates to our lives, increases its meaning and makes it more memorable. Now let’s use my memory. I can remember when I found out I was pregnant with my first child. I thought I had gotten sick. I didn’t feel well, very low amount of energy. Well I was sick, but it wasn’t the sick I was thinking where I could go buy something over the counter and it be gone in a few days. I was suffering from morning sickness, the nauseous feeling a woman’s body goes through in the first trimester of pregnancy. The difference in my thoughts and reality was that a baby was coming. A child, a life changing experience. I had all kinds of thoughts going through my head. First, I had to acknowledge that I was soon to be called â€Å"Mommy’. Which then lead to other thoughts like if I was good enough to be parent at the age of 22. I thought what my family would think of me being that I as still young and not married. I was concerned on what the father of my child would say when I told him. After informing my family and accepting this important role that was coming into play. I began taking prenatal classes to educate myself on being a mother. I enrolled in college and begin taking Early Childhood Education courses. I learned that having my daughter pushed me into the field of working with children and having a passion for the work that I do. In the beginning I was nervous, worried about what others would think of me. Encapsulation was a personal barrier s I was raised to believe that one should be married before she has a child. My emotions were out of control the first couple of months as I thought to myself that I wasn’t fit for the circumstances. After all that I have to say that I am a wonderful mother despite all my fears and that my thoughts from then have influenced and encouraged me to believe that can handle all situations, and to see something good out of anything that we are faced with. How to cite Nature of thought, Papers

Nature of thought Free Essays

Thinking: the activity of the brain that can potentially be communicated. Inform thoughts become your words become your actions become your habits become your character become you. † (Gary R. We will write a custom essay sample on Nature of thought or any similar topic only for you Order Now Kirby and Jeffery R. Godparent, Thinking, 2007) What makes human thinking unique is the fact that our thoughts are made up of language. Language allows us to see things differently by channeling our thinking and perceptions. Our thoughts are influenced by the language we use to describe them. The languages we use may too be influenced by personal barriers. Personal barriers include self- serving biases, cognitive distortions that put us in a favorable position. Stereotypes, being biased toward members of a certain group. Emotional influences also effect and inspire human thought. Emotion is what differentiates human beings from animals. We as humans think to communicate, using different languages that are influenced by barriers based upon memories. Memory plays an important role in thinking. Without memory we can’t think. According to Richard Paul and Linda Elder, Journal of Developmental Education, â€Å"Everything we learn is related to everything we learn and learning things in relation to each other makes each of the things we learn more memorable, more intelligible, and more useful. † Without memory we’d have no future to imagining and no past to consider. Getting an adequate amount of sleep is essential to the critical thinking process. Sleep debt can negatively affect our mood, motivation, memory, decision making, concentration, problem solving, and logical thinking (Corer, 1996). So in order to think big we must stimulate the brain with intellectual activity and enhance our memory. Enhancing memory includes making information meaningful, by associating new information with what we already know well, by using mnemonic techniques and by repetition and practice. Listening to the recollections of others and being open to the possibilities. Finding relevance of the information, how it relates to our lives, increases its meaning and makes it more memorable. Now let’s use my memory. I can remember when I found out I was pregnant with my first child. I thought I had gotten sick. I didn’t feel well, very low amount of energy. Well I was sick, but it wasn’t the sick I was thinking where I could go buy something over the counter and it be gone in a few days. I was suffering from morning sickness, the nauseous feeling a woman’s body goes through in the first trimester of pregnancy. The difference in my thoughts and reality was that a baby was coming. A child, a life changing experience. I had all kinds of thoughts going through my head. First, I had to acknowledge that I was soon to be called â€Å"Mommy’. Which then lead to other thoughts like if I was good enough to be parent at the age of 22. I thought what my family would think of me being that I as still young and not married. I was concerned on what the father of my child would say when I told him. After informing my family and accepting this important role that was coming into play. I began taking prenatal classes to educate myself on being a mother. I enrolled in college and begin taking Early Childhood Education courses. I learned that having my daughter pushed me into the field of working with children and having a passion for the work that I do. In the beginning I was nervous, worried about what others would think of me. Encapsulation was a personal barrier s I was raised to believe that one should be married before she has a child. My emotions were out of control the first couple of months as I thought to myself that I wasn’t fit for the circumstances. After all that I have to say that I am a wonderful mother despite all my fears and that my thoughts from then have influenced and encouraged me to believe that can handle all situations, and to see something good out of anything that we are faced with. How to cite Nature of thought, Papers

The Professional Skepticism Continuum

Questions: 1. Critically assess what you understand by the audit concept of professional scepticism and why professional scepticism is important in the audits of financial statements? 2. Identify, research and evaluate any one recent example of your choice of a UK business failure where there was an apparent lack of professional scepticism? Answers: Introduction: Auditors look after the accounts of a company to determine whether they are representing the affairs of the company exactly and accurately on the accounts date or not, by the process of auditing. On the other hand, this auditing provides assurance or comfort to the accounts users that the auditor, who is the independent third party, has checked the accounts and agrees with the management of the company. Thus, both the term audit and assurance are interconnected and interrelated to each other (Vallance-Jones, 2012). Again to perform auditing accurately, professional skepticism is the compulsory factor, as without professional skepticism, the auditors might not understand the fraudulent activities of a particular activity. Thus, professional skepticism should be developed within the auditors to avoid misinterpretation of audit results. As professional skepticism is an attitude, thus it has to be developed within the auditors, and cannot be readily integrated into them. Thus audit is re lated to professional skepticism and vice versa. Therefore, professional skepticism plays a vital role in the procedure of audit of the financial statements of a company. 1. Audit concept regarding professional scepticism: Generally, audit means an evaluation and an unbiased examination of all the financial statements of a particular financial year of any organization by the help of the internal employees of the firm who deals with the financial department of the company or chattered accountants or employees of financial department of other organization (Whittington, 2012). Audit is generally done to verify the accuracy of the financial filings, such that an organization could pay proper amount of tax to the government of the country. Professional skepticism may be defined as an attitude which involves questioning mind and a critical assessment of evidence of audit (Turri, 2011). On other hand, it can be said that, the external or internal auditors should not consider the management of the specified organization to be either dishonest or honest, during the process of financial auditing. According to the annual report of Audit Inspection Unit (AIU), of the year 2011 2012, there is basic importance of professional skepticism in various key audit issues (Pickett, 2011). Thus, the concept of audit is related to the professional skepticism. Auditors are required by any organization or a company for auditing the financial statements. Thus, the auditors of a specified company have to perform the audits with an attitude of professional skepticism, that is, they should possess the questioning mind and should not consider the management of the company to be either dishonest or honest, during the process of auditing (Nolder, 2012). Financial researchers have stated that presently, many auditors have failed to perform the act of auditing correctly, due to lack of professional skepticism, and thus, they are planning for improvement of this attitude within this profession. Fraud is a very common act, which a company may perform for more sales revenue, profit and betterment of the company. Thus, the auditors should remain alert to the misstatement risk, though there may be the strength of the control of the client or the reports of current or prior years by the audit procedures. To consider the type of identified misstatements is another way of implication of professional skepticism. In the past, there had been a tendency to identify any misstatement immediately as an error. But the auditors should examine the misstatements much deeply, as some of them can be fraud too or just an indication of deficiencies in the system of accounting, which could lead to more errors in future (McCoy et al., 2011). The auditors generally apply the attitude of professional skepticism at different stages of audit process they are as follows: When assessing engagement acceptance here, the integrity of the management of the company and the matters that might affect the auditor regarding professional skepticism is considered. When performing risk assessment procedures at the planning stage of audit, an auditor should always be skeptical, when he would perform the procedures of risk assessment. When obtaining audit evidence the auditor should be capable of challenging the management of the specified company, about the subjective and complex matters which are exercised by the management (Lee, Welker and Wang, 2012). When there is risk of fraud, reliable and sufficient evidence should be considered. When evaluating evidence the reliable and sufficient evidences should be evaluated critically. Finally, it can be said that, the application of professional skepticism should reduce the risk as it enhances the efficiency and effectiveness of audit procedures. It also reduces the possibility of reaching inappropriate conclusion. Importance of professional scepticism: According to chairman of IAASB, large numbers of auditors are needed for application of professional skepticism. The reason for this is the enlarged use of the subjectivity and judgment in the financial reporting decisions of the management of the company. This is due to the decision of Financial Reporting Standards, for the application of principle based and often requires the financial statement preparers to perform the significant judgment during decision making on treatments of accounting. The global financial crisis of 2009 2010, also aimed on professional skepticism. In many jurisdictions, the auditors were critically criticized for not applying enough professional skepticism, especially in relation to the fair values audit, transactions of related party and assessments on going concern concept. Staff Questions and Answers document is issued by IAASB, for re-emphasizing the importance of professional skepticism, especially in the field of auditing of the financial statements, which includes the high risk of misstatement of material due to financial distress (Keating, 2011). The Financial Reporting Council of U.K. has issued a paper on professional skepticism, which advices that in audit quality, professional skepticism is the cornerstone. It also proposes that, the auditor should look for material misstatement risks. This activity is possible only when a high quality of knowledge about the business of audited entity and its environment is known to the person. Thus from these, we can understand the increasing importance of professional skepticism. But the reasons for which professional skepticism is important in audits of financial statements are: Skill test of auditor the skills of an auditor is tested through the quality of audit he or she performed for a particular organization. And also through the exercise of professional judgment regarding the misstatements, the quality or the skill of an auditor can be understood (Glover and Prawitt, 2014). Audit procedure enhancement Reducing the possibility of a. Selection of inappropriate procedures of audit. b. Application of inappropriate procedures of audit. c. Misinterpretation of audit results. d. Unusual circumstances are overlooked. Appropriate decisions can be made on a. The extent or timing or nature of the procedures of audit with the aim to reduce the high risk to an appropriate level. b. Sufficient evidence of audit has been obtained or not, and according to that, more evidence should be obtained, to achieve the goals of assurance standards (Cascarino and Cascarino, 2012). c. Evaluation can be done on the judgment of the management, based on the financial reporting of the entity, regarding the annual audit. d. Conclusions can be drawn based on the evidence of the audit obtained. Thus, the application of professional skepticism increases the effectiveness of the procedure of audit and of its application and also lowers the chance of selecting inappropriate procedure of audit. 2. The Professional Scepticism of a company means the prediction of companys performance through audit. The future planning or strategy of a company depends on its professional scepticism. Due to the lack of professional scepticism, a company may suffer from loss or slower growth in profit. In U.K., there are some companies, which suffer from apparent lack of the professional Scepticism. Among these companies, is the Cannary Limited of U.K (Ashton, 2015). On 1st February 2012, Canary Limited has appointed the auditor named C.S. Group of the new subsidiary. This group has planned the audit for the individual financial statement of the firm named Canary Limited and then has analyzed its significance of the audit on the consolidated financial statements. The selling process of Canary Limited is related to the online selling. Since, there is complexity related to the online selling system, the professional scepticism focus on the requirement of expert and the computed-oriented audit techniques, which is used to get the higher profit. It is necessary to understand the financial performance and position of that company, and for this, the review of preliminary analysis on a full set of Canary Ltd.s financial statement should be done besides forecasting the revenue and profit for the year (Bland, 2015). The financial audit process of Canary Ltd.:- At that time, the management of Canary Ltd. Company was unfamiliar with the process used of financial audit and failed to provide required information to CS group in preparing the consolidated statements, as the Canary Ltd. management was involved with the group financial reporting for the first time. Therefore, there was a risk related to inaccurate and incomplete information of the company such as incomplete information related to the inter-company transactions (Frc.org.uk, 2015). Financial performance of Canary Ltd.:- Considering the consolidated profit and revenue figure of Canary Ltd. in 2012, the group financial result was encouraged before the tax of 1-2% with a rise in revenue of eight percent and in profit. The 2012 result of Canary Ltd. include the report of six months revenue and profit of that company. By comparing its result with the previous year combined financial year of the Crow Ltd and Starling Ltd. it can be said that, there was a reduction in profit of the combined companies Craw Ltd and Starling Ltd. for the year 2012, as the revenue reduced slightly. To do with the acquisition of Canary Ltd. like legal costs and diligence, the one-off costs may results the apparent rise in costs with the acquisition of Canary of Canary Ltd. As costs could be overstated or revenue may be understated, there was risk misstatement in this company (Gaaaccounting.com, 2015). Forecast of Crow Ltd in 2012 ( million) Forecast of Starling Ltd in 2012 ( million) Forecast of Crow Ltd and Starling Ltd in 2012 ( million) Actual report of Crow Ltd and Starling Ltd in 2011 ( million) Change in percentage Revenue 69 50 119 125 4.8% Profit before tax 3.5 3 6.5 8.4 22.6% Professional Scepticism of financial statement:- As the financial statements of Canary Ltd. have been prone to manipulation, a risk or misstatement that leads to a lack of professional scepticism. Particularly, to protect the good sale price for the company, its management may overstate the revenue and profit of the company. As the groups avoid the additional consideration, the existence of consideration of contingent related to the acquisition revenue of group post is also treated as a contributing factor for the possible manipulation (Hancox et al., 2015). Risks related to the lack of Professional Scepticism of the financial statement of Canary Ltd:- Risk related to General matters:- Due to the lack of Professional Scepticism, there is a risk related to the material misstatement of the company. This will leads to some changes to corporate structure of the company like moving into large business, installation of new significant IT system and large acquisitions etc. Since the CS Group was involved in all these three changes during the financial year, the audit is involved with the high risk (Hartl, 2015). Risk related to Goodwill:- There are specific risks attached with the various components of goodwill. According to the professional scepticism, on the acquisition of Canary Ltd, the goodwill of the company will rise to 45 million, which will represent the 8.2 percent of total assets. As the measurement of the goodwill of the company, involves the judgement, which is judged based on the probability of the amount to be paid, the contingent element of consideration is inherently risky. If there is the incorrect assessment of this probability of payment, the consideration part can be overstated. In case of the individual financial statement of Craw Ltd., there are also some risk factors related to its goodwill. The value of identifiable assets is another component of assessing the goodwill of the company. Therefore, it is essential to measure the fair value at the date of acquisition. Since, the estimation of fair value involves the uncertainty, so there is a risk factor related to this estimation. Therefore, if t he management fails to conduct an impairment hypothesis or Professional Scepticism, then there will arise a risk regarding the goodwill of the company (Kang, Trotman and Trotman, 2015). Risk related to the loan stock:- The management of the company has issued 100 million loan stock, which represents the 18.2% of total assets of crow Ltd. As the loan will be paid at a significant premium of 20 million, this will recognized as a financial cost of the company over the period. There arises a risk of misstatement if the premium of the financial year, has not been included under the financial cost. Moreover, if interest payable has not been accrued, the financial cost could be understated. Besides these types of risks, regarding the loan in the financial statement, there is a risk associated to financial disclosure, as the required narrative and financial disclosure are related to financial instruments, which provide the risk exposure. Regarding the loan in the notes to the financial statement, there is also a risk of inadequate disclosure (MACHUCA, 2015). Risk related to the online sale:- In case of online sale of Canary Ltd., when the revenue recognition criteria of IAS 18 Revenue have been met it is difficult to establish with the online selling process. As a result, there will arise a risk that the revenue can be recognised at the correct time. As 30% of Canary Ltds sales are made online, which is amounting to sales of 4.8 million or 3.6% of consolidated revenue of the year, this will treated as a significant issue and it is predicted that when a full year revenue of the Canary Ltd sales is consolidated, there will be a higher percentage of total sales in the next year. This refers to the fact that the revenue and profit are underestimated over the period. Here will be the Professional Scepticism in this case, as the CG group had no experience of online sales, for online revenue recognition, there will be no group accounting policy. The risks arising from the system may not operate effectively and there is a deficient control, which leads to inaccurate recording of the sales (Orcpa.org, 2013). Risk related to the Grant received:- There is a risk related to the recognition of the needs and types of grant received by the company. The company has not been yet spent 10 million, which results for the further risks and represents 1.8% of the consolidated assets. Risk associated with new IT system:- The IT system is related to the financial reporting. Therefore, a risk of material misstatement is related to this system (Sweeney and McGarry, 2011). Conclusion:- Hence, from the above analysis it can be said that for every company, there is a need for proper Professional Scepticism, which help the company to take the appropriate business policy for future. A company may suffer from indecision, due to the lack of proper Professional Scepticism as this wrongly predict (either overestimate or underestimate) the performance of the company in future. References Cascarino, R. and Cascarino, R. (2012).Auditor's guide to IT auditing. Hoboken, N.J.: Wiley. Glover, S. and Prawitt, D. (2014). Enhancing Auditor Professional Skepticism: The Professional Skepticism Continuum.Current Issues in Auditing, 8(2), pp.P1-P10. Keating, L. (2011).Performance auditing of public sector property contracts. Burlington, Vt.: Gower. Lee, C., Welker, R. and Wang, T. (2012). An Experimental Investigation of Professional Skepticism in Audit Interviews.International Journal of Auditing, 17(2), pp.213-226. McCoy, N., Burnett, R., Friedman, M. and Morris, M. (2011). Internal audit: How to develop professional skepticism.J. Corp. Acct. Fin., 22(4), pp.3-14. Nolder, C. (2012).The role of professional skepticism, attitudes and emotions on auditor's judgments. Pickett, K. (2011).The essential guide to internal auditing. Chichester, West Sussex: Wiley. Turri, J. (2011). Knowledge and Skepticism.International Journal for the Study of Skepticism, 1(2), pp.155-157. Vallance-Jones, F. (2012).National freedom of information audit 2012. Toronto, Ont.: Newspapers Canada. Whittington, R. (2012).Auditing and attestation 2012. Hoboken, N.J.: Wiley. Ashton, N. (2015). Undercutting Underdetermination-Based Scepticism.Theoria, p.n/a-n/a. Bland, S. (2015). Circularity, Scepticism and Epistemic Relativism.Social Epistemology, pp.1-13. Frc.org.uk, (2015). [online] Available at: https://www.frc.org.uk/getattachment/2a1e0146-a92c-4b7e-bf33-305b3b10fcd2/Discussion-Paper-Auditor-Scepticism-Raising-the-Ba.aspx [Accessed 14 Jul. 2015]. Gaaaccounting.com, (2015).The Pros and Cons of Professional Scepticism | GAA Accounting. [online] Available at: https://www.gaaaccounting.com/the-pros-and-cons-of-professional-scepticism/ [Accessed 14 Jul. 2015]. Hancox, D., Hancox, D., Hancox, D. and Hancox, D. (2015).Professional Skepticism is Still Lacking in Audits. [online] LinkedIn Pulse. Available at: https://www.linkedin.com/pulse/professional-skepticism-still-lacking-audits-dave-hancox [Accessed 14 Jul. 2015]. Hartl, P. (2015). Modal scepticism, Yablo-style conceivability, and analogical reasoning.Synthese. Kang, Y., Trotman, A. and Trotman, K. (2015). The effect of an Audit Judgment Rule on audit committee members professional skepticism: The case of accounting estimates.Accounting, Organizations and Society. MACHUCA, D. (2015). Conciliationism and the Menace of Scepticism.Dialogue, pp.1-20. Orcpa.org, (2013).PCAOB Finds Lack of Professional Skepticism Main Cause of Audit Deficiencies News. [online] Available at: https://www.orcpa.org/about/news/12/1662-pcaob_finds_lack_of_professional_skepticism_main_cause_of_audit_deficiencies [Accessed 14 Jul. 2015]. Sweeney, B. and McGarry, C. (2011). Commercial and Professional Audit Goals: Inculcation of Audit Seniors.International Journal of Auditing, 15(3), pp.316-332.