Auditing and Assurance Services Audit Inherent Risk Model

Question: Depict about the Auditing and Assurance Services for Audit Inherent Risk Model. Answer: Which means of Inherent hazard: Intrinsic Risk is the danger of a material misquote in the budget reports emerging because of blunder or oversight because of elements other than the disappointment of controls (factors that may cause an error because of nonattendance or pass of controls are considered independently in the evaluation of control chance). Components that would have added to expanded inborn hazard appraisal at the budgetary detailing level: Skill and Integrity of the board: At budgetary announcing level, numerous revelations in fiscal reports, approaches, exchange rehearses and so forth. Depend on the board judgment and their methodology towards future monetary development. State not many appraisals are to made to reveal genuine picture of financials i.e arrangement for worker benefits, arrangement for costs and so forth Evaluating the executives uprightness is no simple undertaking however at monetary detailing level, natural danger of review increments if fitness and respectability of the board is seen as low by the examiner. As referenced in the inquiry, because of fast industry development in the business, noteworthy administrative involvement with the business was restricted. In this way, because of restricted experience the board may not get appropriate answers for complex circumstances emerging in the business or it will be unable to assess future patterns and advancements of which the executives of contender substance know about. Inconsistencies in bookkeeping records: It might happen that the bookkeeping records are kept up appropriately in a substance. State for instance, there are numerous mistakes and oversights in the bookkeeping records. Because of this factor, money related situation as at announcing date might be misdirect to an enormous degree Disparity in bookkeeping records influences can impact any segment of fiscal summary for example income, consumption of some other accounting report or benefit and misfortune thing. In this manner, if any errors are found in bookkeeping records innate danger of review will be surveyed as high. If there should be an occurrence of unpracticed bookkeeping work force, it might happen that bookkeepers are not satisfactory at section level as it were. They may get confounded in charge and credit passages. Along these lines, it might cost errors in bookkeeping records. The path equalization of the organization may not count, account adjusts may not speak to genuine record adjusts, and so forth which increments natural hazard engaged with review at monetary announcing level. Irregular connection among examiner and the executives: A review includes giving an account of budget summaries of an element whether they are valid and reasonable autonomously. On the off chance that there is any sign of bizarre connection among inspector and the executives for example high volume of exchanges between both, old fellowship or connection among inspector and the executives. And so forth may influence the autonomy of evaluator and the reviewer may not report the real image of budget reports and he may wind up revealing for the element. Hence, this factor increments intrinsic danger of review. The markers of abnormal connections might be repeating money exchanges among evaluator and the organization, examiner and friends are connected gatherings, and so forth. Uncommon exchanges with outside or critical related gathering exchanges: Related gatherings are parties which are primarily constrained by basic controlling position. It might happen that, for individual advantages executives may move benefits of one element to other. Or then again it might happen that they offer results of one organization to other related gathering at less expensive rates to make other substance gainful. In this manner, in the event that if toward the start of review, the inspector discovers enormous volume of exchanges with related gathering or any bizarre exchange with related gathering, he may group inalienable danger of review as high. There might be a few exchanges with outside gatherings distinguished toward the beginning of review or over the span of review which are abnormal in nature. For instance, an exchange not identified with business, high money esteem exchange or other exchange which the reviewer may discover abnormal increment the characteristic danger of review. These exchanges may likewise affect budgetary situation of a substance. In this manner, event of such strange exchanges expands the intrinsic danger of review. Further, if exchanges with related gatherings are high in volume additionally influence the intrinsic hazard associated with review. As the element has enthusiasm for its related gathering, the exchanges may not be a careful distance cost or it might happen that assets are moved from one substance to other and investors reserves are utilized for related gathering of the element. Such sort of exchanges increment the natural hazard associated with a review at fiscal report level. Monetary outcomes that appear to be unrealistic: Sometimes, budgetary consequences of an organization appear to be too acceptable i.e money related situation of the organization appears to be excessively acceptable when contrasted with industry patterns and companys interior monetary structure and capacity of the administration. For instance, normal benefit in industry is 10% yet the money related of the substance are indicating benefit of 40 %. This sort of circumstances prompts progressively complex decisions by the inspector. Along these lines, if money related outcomes appear to be unrealistic, the inalienable hazard in review will increment. The organization may show wrong picture in financials to draw in investors, speculators and clients towards administrations. It might happen that, to pull in huge ventures, benefit of the organization is revealed multiplied or the fluid proportion is unveiled positive for the organization. However, the reviewer through his expert wariness may distinguish that such financials are not in accordance with current money related situation of the organization of industry. In this manner, he may need to play out extra review techniques to guarantee the budgetary outcomes unveiled by the organization are valid and reasonable. Variables which would have recognized at key arranging level: Competency and Integrity of the board: Management can plan and partition work in such a way, that master specifically work in assigned to the work coordinating with his ability. Disparities in bookkeeping records: Management can set up controls for bookkeeping at key arranging level. Arrangement: Characteristic hazard factors that would have added to expanded inborn hazard appraisal at the record balance level: Record speaks to a benefit that can be handily taken: There might be where resources of the substance are kept or kept up so that they can be effortlessly taken. For instance, organization keeps not many of its machines outside the production line because of capacity issues in processing plant and no security is there to keep watch on that machines which are kept outside the manufacturing plant. Presently there might be where this advantages are taken and the inspector even the organization doesn't know about the case. In such circumstances, it might happen that examiner reports net square of benefits as 1,00,000$ and just resources worth 97,000$ are accessible truly. This expands the characteristic review chance at account balance level. Fixed resources spread a significant segment of entitys financials. Whenever fixed resources are not uncovered appropriately in the financials, there is high danger of distortion of the companys money related position. In this way account adjusts speak to resources that can be handily taken, it is high hazard thing for a reviewer and subsequently it increments inborn review chance at budget summary level. Record balance comprised of complex exchanges: On the off chance that any record has complex passages and record balance isn't clear or the idea of exchanges in that record isn't obvious to evaluator the inspector needs to play out extra systems to remark on evident and reasonable perspective on that account. For instance, a record utilized for bookkeeping of charges and legitimate portrayal isn't given to sections in that account, it might happen that examiner finds that account extremely perplexing and play out extra systems to get comfort on the figures of that account. Further, it is likewise conceivable that specialized information on bookkeeper is less and passages of costs are steered through the record of assessment. Such cases increment the characteristic review chance at account balance level. Record balance requires a significant level of estimation to esteem: There are a few exchanges wherein appropriate estimation by the executives is required to finish the records with the goal that bogus picture budgetary situation of the element isn't accounted for. Instances of such sort of estimations are arrangements for costs collected yet not due, arrangement for tip, unexpected obligation, and so forth. On the off chance that the organization is acquiring high volume of use at the year end of which accurate installment to be made for that use in not know by the administration, the board gauges become increasingly urgent in delineating the monetary picture and consequently it expands the intrinsic danger of review. Different Factors: Record balance subject to changes that are not in the conventional preparing schedule: Financials are concluded subsequent to making a few changes in represents introduction of fiscal reports to conform to detailing measures. In the event that the records are too mind boggling and numerous changes are required in that for appropriate divulgence, likelihood of blunder increments and intrinsic danger of review likewise increments. Record adjusts are made out of high estimation of non routine exchanges: In such cases it gets hard for evaluator to effortlessly depend on account adjusts as it comprises of irregular exchanges which are not in course of business. Inspector needs to play out extra review techniques to safeguard that balance in such sort of records is valid and reasonable. Arrangement Remark on going worry of business venture: Going concern whenever influenced by the accompanying: Security of business: If there is any sign of any future or recent development which may affect tasks of business significantly going concern idea is influenced.. For instance, if any new item is propelled in showcase which is better than the companys item and friends can't upgr

Pressure Groups Essay

Weight gatherings can impact political choices from multiple points of view. Weight bunches speak to a specific issue/issues and attempts to squeeze the legislature to change laws concerning their particular intrigue. This can happen in a few unique manners yet strategies utilized by insider pressure bunches are diverse to the ones utilized by untouchable weight gatherings. Untouchable weight bunches keep their autonomy from the administration. Due to this these weight bunches are not limited by a similar set of principles as insider pressure gatherings and have more opportunity to dissent in manners, which the Government would not endorse of. Direct activity is a strategy frequently utilized by pariah constrain gatherings to pressurize the Government. The sorts of direct activity utilized are regularly illicit and perilous. For instance the Animal Liberation Group went to a mink ranch and let the minks out and have likewise picketed labs and tossed stones at the individuals who work there. Outcast weight bunches that desire to become insiders are bound to comply with the law when they are dissenting so they have to a greater degree a possibility of setting up joins with the administration and be given the insider status. Anyway insider pressure bunches will in general be subtler and cunning in the manner in which they apply Pressure to the administration. Insider pressure bunches will in general have an ability in their general vicinity of intrigue and can inquire about their issues viably. Insider pressure bunches will in general have contacts with Government Officials and Civil Servants who they can use to get data. Government employees will likewise utilize the examinations completed by these constrain gatherings to improve Bills. Since insider Pressure Groups invest a great deal of energy investigating issue’s that they are worried about and examine them officially then they gain regard from the administration and are progressively ready to impact chiefs. Despite the fact that insider and untouchable gatherings utilize various strategies to impact the legislature the fundamental path is to attempt to get exposure for their motivation and to get the general population on their side. Sending letters to papers, walking through the avenues, giving Exhibitions, leafleting and holding open gatherings does this. Some weight gatherings will gather marks for a request, which they at that point send to a MP to attempt to convince him to bring the issue up in parliament. Margerat Ewing raised the issue of the dumping of Nuclear waste at Dunraye in parliament to enable a strain to bunch worried about the issue. In the Scottish Parliament there is an extraordinary Petition Committee which researches petitions and educates the Minister to which every appeal to concerns. This a successful method of weight as it implies that the Scottish Executive will have the option to discover issues and will have the option to perceive what number of individuals need an adjustment in enactment to take care of this issue. Weight bunches impact political choices by utilizing the media for exposure, utilizing government authorities and government employees and now and again utilizing unlawful techniques to attempt to pressurize the Government.

What is Economics Issues Affecting The Economy As A Whole Essay

What is Economics Issues Affecting The Economy As A Whole - Essay Example The second piece of financial aspects manages the issues ascending in the worldwide field. People have boundless needs however there are restricted assets to deliver it and when we state assets this is essentially alluded as the four components of creations that are utilized in creating needs. Human race resembles an ever ravenous brute whose needs are boundless however there are constrained assets to deliver it. This issue is alluded as shortage in light of the fact that these assets like oil, mineral, gases take a great many years to frame and people devour it with a century. (McConnell, 2011) We all realize that each human have some fundamental needs and past these necessities there are needs that is just requested to pick up delight or to determine fulfillment. People have no limit to their needs yet because of constrained pay we are compelled to settle on decisions as we can't have anything we desire so we need to choose the things we can manage the cost of and ensure that the thing we have chosen gives us most advantage. At the point when a decision is made one thing is provided up so as to get what we have chosen. The following best elective that we provided up so as to acquire what we have chosen is called opportunity cost. For instance between a bicycle and an I-Phone 5 an individual picks a bicycle for this situation the I-Phone 5 is the open door cost. The ideas in financial matters can be true or worth based. Goal and certainty based data is alluded as Positive Economics while esteem based and emotional data is identified with the Normative Economics. Positive financial matters could be verified or objected while the Normative Economics are sentiment based. (McConnell, 2011) Macroeconomics and Microeconomics Before we go into furthe r examination it is essential to talk about the two significant parts of financial matters and that is separating among Microeconomics and Macroeconomics. These two branches have numerous fundamental normal thoughts and strategies in like manner, the distinction lies in the level to which they are considered and the manner in which they are seen. Microeconomics centers around singular purchasers, laborers and firms every one of which is too little to even think about having an effect on the national economy. Macroeconomics stays away from this differentiation among a wide range of sorts of merchandise, firms and markets that exist in the economy and rather center around total. For instance, in their investigation macroeconomists couldn't care less whether purchasers are purchasing VCRs or DVD players, hamburger or chicken, Pepsi or Coke. It centers around summarizing singular factors to acquire monetary wide sums called collection. (McConnell, 2011) Issues influencing the economy in general Studying about the structure of the economy is a piece of Macroeconomics that reviews the presentation of the national economy and aides in planning arrangements that administration use to impact the economy. (McConnell, 2011) There are sure issues that influence the economy and the principle ones are: Business Cycle Growth in an economy is rarely smooth, it

Emergent Topics in Homeland Security Essay - 1100 Words

Emergent Topics in Homeland Security (Essay Sample) Content: Name:Instructor:Date:Emergent Topics in Homeland SecurityDescriptionWith the ever increasing unpredictability, uncertainty, misconceptions and misinformation within United Statesà ¢Ã¢â€š ¬ borders and beyond, American homeland security remains threatened by a number of emerging threats. For instance, information revolution presents a wide range of opportunities for prosperity and innovation as well as a platform for improving general welfare of every part of the world (Arab Social Media Report 1). Yet with the wide reach of a "lightly regulated digital infrastructure, great risks threaten nations, private enterprises, and individual rights" (Cyber Policy Review i). This has put the US government together with its security agencies, National Intelligence Commission (NIC) and Department of Homeland Security (DHS) tasked with curbing criminal activities within its borders, in a difficult position of having to deal with the emerging challenges. The Intelligence community which is charged with the duty of detecting and analyzing potential security threats to the US is continuously dealing with new challenges in its effort to ensure smooth flow of information. For instance, the National Strategy for Information Sharing and Safeguarding (NSISS) is heavily dependent on its members to uninterruptedly gather, process, and share correct information despite the risks of such information getting into the hands of wrong people due to the increased possibilities created by new information technology for such incidences.Nevertheless, the US government has the responsibility to address the myriad of emerging threats to ensure that its citizens as well as the larger international community remain safe and secure. In this view, the knowledge dominance and situational awareness remains the secret weapons by which the US government will mitigate economic, military and political threats to homeland security and global security at large. Knowledge dominance simply re fers to the ability of the government to gather process and share information freely in uninterrupted manner while exploiting the ability of an enemy to do the same. Situational awareness refers to having a superior knowledge about an area or vicinity, in order to understand when, how and why given phenomena occur and being able to respond in a timely and effective manner to such occurrences. Based on Lahnemanà ¢Ã¢â€š ¬s (733) description of information as either public or proprietary, one can argue that the US security agencies, NIC and DHS among others have an opportunity to define and strengthen what it consider open and classified information.ExplanationAs noted in Lahnemanà ¢Ã¢â€š ¬s (201) article, The Need for a New Intelligence Paradigm, traditional state-based security threats continue to be a problem; however, there are new security threats emerging from transnational phenomena. It is against this background that the US government seeks to achieve knowledge dominance and maintain situational awareness for homeland security. One of the key drivers of this quest is the emergence of transnational terrorism which has become not only the most visible of the current emerging threats, but also most complicated in terms of forms and perpetrators. In addition, transnational terrorism remains one of the greatest threats to US home security because of networked nature of this type of crime and its perpetrators who continue to thrive on multifaceted communication, increased global travel, and greater financial capabilities facilitated by the process of globalization (Lahneman 201). Moreover, the transnational terroristsà ¢Ã¢â€š ¬ invasion of cyberspace threatens any quest for knowledge dominance by the US government, a more telling reason for the US government to drive on with its quest for knowledge dominance and situational awareness. Other transnational threats that are less visible but potentially highly destructive include naturally-occurring and human-in duced phenomena such as the spread of HIV/AIDs, nuclear proliferation, climate change, etc (Lehneman 201).AnalysisAs discussed above, transnational terrorism remains the most visible and most challenging security threat today in the United States. Although Lahneman (201) admitted that other forms of transnational threats pose greater destructive threat than terrorism, the complicated nature of transnational terrorism makes it a number one threat to homeland security. The 9/11 attack on the US soil is a clear illustration of how things can go wrong if there is no clear situational understanding and information flow between and among security agencies and bodies. Lahneman (730) illustrated this in his article Examining the NGPI "Dotsà ¢Ã¢â€š ¬Ã‚ , when he recounted the findings in the 9/11 Commission Report. According to Lahneman (731), the 9/11 attack was attributed to breakdown in information flow. Despite this major attack ever witnessed on the US soil, the US government continue s to grapple with home-based terrorism which has international or transnational networks such as the recent Boston Bombing. In other words, of all the transnational threats (both naturally occurring and human-induced), it is only transnational terrorism that remain a major threat to the US homeland security because its perpetrators are today more knowledgeable about how the US security operates thanks to information revolution. Thus, they are always keen on taking advantage of any breakdown in information flow among security agencies and any slump in situational awareness to strike the US and its citizens. It is increased threat to US and its c...

The Effectiveness of Vinegar as Battery - 852 Words

Republic of the Philippines Commission on Higher Education Pamantasan ng Cabuyao The Effectiveness of Vinegar as a Battery A Science Investigatory Project Presented to the Faculty of College of Business Administration and Accountancy In Partial Fulfillment Of the Requirements in NATSCI2 Balaoro, IkaClarish M. De Lemos, Kimberly Marie C. Elep, Jennifer Ibale, Alexandra E. Izar, Janine S. 2BSA-2 A.Y 2014 – 2015 CHAPTER I INTRODUCTION The world is blessed by the abundance of energy. It comprises various types of energy. One of this is electrical energy or electricity. Electricity is one of the most powerful forces in our lives. This term make us to remind of anything that we plug into an outlet in order to†¦show more content†¦A vinegar battery may not be as strong as other commercial batteries. However, it is safer than other batteries that do contain some harmful chemicals. It is based on electricity made from vinegar. This is something that seems like magic to most people, but is really simple science. Aside that this is cheaper than other batteries, it is environmental friendly because it doesn’t contain hazardous and toxic elements. We, the researchers, prioritize not only the discovery of the vinegar battery as an alternative source but also as renewable source of energy. This energy if guided correctly can power low amperage devices. STATEMENT OF THE PROBLEM General Objective: The main objective of this study is to show the effectiveness and usefulness of the vinegar battery in producing electrical energy. Specific Objective: 1. What is the purpose of using vinegar in this activity? 2. How is it possible to produce energy out of those substances? 3. How can vinegar battery be efficient as the source of electricity? Hypothesis 1. Vinegar serves as the source of electricity. 2. Vinegar, which is an acid, produces free ions in solution. These ions carry charges from one place to another, which is how current is carried. 3. The efficiency is based on the number of series of battery used. SIGNFICANCE OF THE STUDY Nowadays, many scientistsShow MoreRelatedPotential Of Coconut Water as Source of Electricity3520 Words   |  15 PagesChapter 1 The Problem and the Background of the Study A. Introduction One of the major problems in our country is energy shortage. There are many methods and proposals on how to conserve it such as the use of batteries. One of these is an electrolytic cell. It contains an electrolyte through which an externally generated electric current is passed by a system of electrodes (electrically positive electrode is called the anode and the negative electrode the cathode) in order to produce an electrochemicalRead MoreEssay on Wgu Int1 Task 33566 Words   |  15 Pagesgrime/grease, bathroom counter soap scum, car windshield and battery corrosion on a car battery and bathroom counter/sink).   Each item will be cleaned with Pepsi and soap and water, with the soap brand of Palmolive dish detergent. The researcher/writer will compare the results between the Pepsi and Palmolive visibly as well as swabbing each cleaning surface with a specific number of Qtips following the cleaning process to determine the effectiveness.   The results/ outcome of this project/experiment researchRead MoreInvestigatory Project3204 Words   |  13 PagesFactors affecting the growth of bacteria [Exp] 043. Factors affecting the growth of molds or yeast [Exp] 051. Experiment with Hydroponics  (Use seedlings started from seed with three types of soil and different rates of fertilizer) [Exp] 071. The effectiveness of Antiseptics and soaps on household bacteria   [Exp] 091. Comparing types of artificial light on plant growth [Exp]   101. Conditions necessary for the life of a brine shrimp   [Exp] 121. Producing mutations in bacteria   122. Producing mutationsRead MoreComputer Shop Feasibility Study7370 Words   |  30 Pages48 @9.00  ± 432.00 y    Fish sauce, 48 @11.00 - 528.00 y    Vinegar in plastic park, 48 @4.50  ± 216.00 y    Soy sauce in plastic pack, 48 @6.00 - 288.00 y      Noodles in plastic cups, 30 @15.00 - 450.00 y    Candies, 300 @0 .50 - 150.00 y      Noodles (pancit canton), 72 @7.50 - 540.00 y      Noodles (soup), 72 @6.50 - 468.00 y    Tomato sauce, 20 @13.00 - 260.00 y    Meat loaf, 25 @55.00 - 1,375.00 y    Batteries (biq), 30 @25.00  ± 750.00 y    Batteries (small), 30 @ 11.00 - 330 00 y    Diaper Subtotal, 60 @6.00

Alcohol Essay 10 - 2590 Words

Alcohol is a drug that is classified as a central nervous system depressant. There are three forms of alcohol, beer, wine and distilled spirits. Alcohol is one of the most commonly used drugs in the United States and has more adverse effects that most other drugs combined. There are many aspects to consider when thinking about alcohol as a drug. There are many myths surrounding alcohol, including who uses it, what its effects are on users, social and sexual situations and the amounts people drink. The vast majority of the American population uses alcohol and in many various ways and this also causes different effects. Alcohol is also has a great causation in crimes committed by users, social, medical, and educational problems as a†¦show more content†¦Because these people used alcohol they automatically put themselves at a higher risk, than non-drinkers, for alcohol-related injuries, problems with the law and many different negative health effects, including liver dysf unction, (MU Health, 2004). Users of alcohol also put others around them at a higher risk for negative consequences including disruption of events and studying, (Statistics on Alcohol, 2000). Although all types of drinking can have adverse effects, there are different levels of use that result in different effects. Moderate drinking is defined as drinking that generally does not cause problems in the drinker or society, typically one drink per day. This low level of alcohol consumption has been shown in studies to, reduce stress, decrease tension and anxiety, (NIAAA, 2000). 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Emerging Technology in Business for Review of the Literature

Question: Discuss about theEmerging Technology in Business for Review of the Literature. Answer: Business background Tesla is on the verge of manufacturing fully autonomous cars that do not require human intervention at all. However, the self-driving car that has been launched by Tesla recently contains various threats and vulnerabilities. The positive impact of the self-driving cars has been discussed throughout the report. The potential benefits will attract any customers to purchase and drive. However, there are numerous glitches that are involved with the self-driving. Lambert (2016) has highlighted that the hackers malicious attack can disrupt the system of the autonomous cars. The algorithms and the artificial intelligence technology incorporated within the system are not strong and efficient enough thus contains multiple flaws. The researchers are conducting researches to make the car fully autonomous, the autonomous car manufacturers alongside Tesla are continuously making efforts to innovate the existing autopilot cars. Digital disruption analysis The potential impact of the self-driving cars has been discussed in the report. The cars have lots of benefits to offer, the cars drive cautiously, the cars always follow the traffic rules and regulations, the driver will not have to drive himself. Besides the benefits, there are disruptions associated with the self-driving cars. According to Dikmen and Burns (2016), the self-driving cars have multiple flaws that have addressed in the report. The rise of the self-driving cars can prove to be a serious threat to the taxi industry. However, there are multiple flaws associated with the self-driving cars and those flaws have been well highlighted in the report. Lin (2016) has stated that the self-driving cars still are in development mode and they require mass improvement. That is why the taxi industry can be assured that they are still safe. The main flaws are that the autonomous cars cannot detect the roadblocks; even the cars cannot detect any traffic polices wavering of hands. The ma lware attack can make the system of the car vulnerable. Sometimes the cars can even malfunction due to software or any hardware glitches. Thus the cars cannot replace the personal driver. Even the cars require human intervention all the time; someone needs to be there behind the wheel to drive the car. Rogerson (2017) showcases that the advent of the electric cars and the self-driving cars are imposing pressure on the automobile industry who manufactures cars that run on petrol and oil. The electric cars or e-vehicle will surely be going to replace the cars that run on oil. The report has analysed the disruption caused by the self-driving cars. Researchers are conducting researches to innovate the autonomous cars so that they can be fully autonomous and will not require human intervention at all. Implication The implications for the taxi industry with respect to self-driving cars The self-driving cars are responsible for driving cars automatically. Though the cars are autonomous, still the drivers need to be aware of the technical aspects of the cars. The drivers still need to know how to drive a car. The high tech self-driving car may falter and in that case, the driver of the car will have to take control of the car and he will have to drive himself. That means the driver must have the desired driving knowledge. The cost of these high tech cars is too high for the citizens, not all people can afford to buy those expensive cars. As per Rakovic (2016), the taxi industry can be assured that the citizens will still use their service. The citizens have fear of accidents so they still prefer the taxi. The security concerns are there in case of the high tech cars. The hackers can hack the system of the high tech cars and can make the cars vulnerable to attack. Any hackers can hack and use the cars for their benefits. Thus the citizens are cautious about the securi ty breach thus prefers the taxi industry. The self-driving cars are not capable of fully eliminating the chance of car accident issues and so the citizens are preferring the taxi to self-driving cars. The self-driving cars are not capable to fully operate at all weather conditions; the normal taxi will very easily root out the self-driving cars. Also, in case of traffic signal failures, the self-driving cars are not capable to interpret the human signals. The self-driving cars cannot detect the wavering of hands. These cars are not efficient to detect the roadblocks. Hull (2016) has stated that the GPS device incorporated into the car can even give false directions that can lead to accidents. Thus all these factors are major drawbacks of self-driving cars which ensure that the taxi drivers and their industry are still safe. The self-driving cars are under development and have lots of flaws, thus the taxi drivers can carry on their business venture. Legally, the self-driving cars of today are not proficient enough to replace the taxi industry; however, it is hoped in mere future these cars will up with some innovative aspects. Can this technology replace personal driver? The tech giants, Mercedes-Benz and BMW are all working on to manufacture fully autonomous cars. The cars manufactured by duo look promising and it is hoped that they will come up with more advanced cars in future. However, the autonomous cars that exist today have multiple flaws so the today's self-driving cars are capable to replace the personal driver. The full development of those cars is still under questionnaire, the cars can malfunction. Fridman, Jenik and Reimer (2017) showcase that the drivers still need to have knowledge of driving for safety purpose in case if the autonomous cars malfunction. Also, the security breaches can lead to malfunction of the car, the autonomous cars are not proficient to detect the roadblocks, and also it is not proficient to detect the wavering of hands. Thus there are multiple opportunities which can lead to car accidents. Again, the cars as mentioned are not efficient to drive in adverse weather conditions, in heavy rain. The GPS system, the acc urate mapping system can be wrong, thus the cars can be misled to drive in the wrong direction and this can lead to accidents. Therefore, there are flaws residing which can ensure that these autonomous cars are not capable to replace the personal cars. The self-driving cars of today are not efficient enough to drive itself that is why in terms of security they cannot replace the personal drivers, however, it is hoped in coming future these cars will up with some advanced features. The new technology convincing people to use the technology in terms of safety The new technology cars have the benefits that can ensure the safety of the people. The humans have not the capability to anticipate the situations located miles away, while the self-driving car has. The cars have the capability to anticipate the situations miles away, to anticipate the cars miles away. According to Raj et al. (2017), the car drivers use smartphones while driving. They call and listen to music while driving and this lead to car accidents. The drivers generally forget to tie up the seat belts, they also engage in rash driving as well. The drivers even do not follow the rules and regulations. The drivers even drive exceeding the speed limit. The cell phone usage and texting is also the area of concern for security. The self-driving cars do not exceed the speed limit at any cost; the cars even follow each and every traffic rules and regulations. These cars always drive cautiously. The cars are programmed in such a way such that they can avoid collision with each other. These autonomous cars generally drive in a cautious manner avoids collisions and accidents. The drivers use smartphones while driving and thus cause accidents. The self-driving cars have no chance at all. Also, the drivers sometimes drink and drive, then there is no chance of drink and drive in case of self-driving cars. Sometimes the drivers suffer from depression and emotional stress and this leads to all kinds of accidents. Hull (2016) explains that the self-driving cars work on specific algorithms and programs thus the self-driving cars drive on the basis of technology. Thus the self-driving cars and its associated technology can bring safety and to the people. Electric cars and their impact on petrol and oil The giant oil companies greatly underestimated the influence of the electric cars and favour the oil-based cars. However, according to the latest trends, it can be found that the auto industry will affect the petrol and oil in both short-term and the long-term basis. Ingle and Phute (2016) highlight that the growth of the electric cars is more likely to lessen the growth of the oil demand, the popularity of the EVs will certainly sabotage the usage of oil in the coming decades. A fraction of cars sold in the market today is run on batteries rather than petrol and oil. However, the analysts have predicted that this trend will change in future with the coming of EV models in the market. OPEC also showed it concern; they claimed that the rise of electric vehicles could diminish the oil and petrol demands in various parts of Asian countries. Nelson (2015) has stated that Tesla EV cars have decided to manufacture EV cars that will replace the cars run on oil and petrol. The batteries are expensive right now; research is going to lower down the price of the batteries. Thus the technology-driven cars have lots to offer. Besides, the cars are environment-friendly, the electric cars have the potential to diminish the air pollution that is why they are capable of reducing the greenhouse gas emissions. Thus it is ethical to use these cars and they should replace the oil and petrol based cars. Preparing the staff in terms of transition between outmoded industries of coal and oil to more sustainable endeavours The organisations must prepare their staff for the revolutionary change; the electric cars are going to take away the market of the vehicles currently running on petrol and oil. Therefore, the organisation managers and the CEO must be aware of the fleet management. According to Laugier (2016), the EVs demands are increasing every day. The manufacturers are more focused on manufacturing e-vehicles and the customers are showing interests too. Ross (2016) showcases that the staffs must know the underlying infrastructure of the e-vehicles, should have skills in the e-vehicle services. Tesla must educate the staffs about their self-driving cars and the electric cars so that they can provide better services to the customers. The staff must be ready to accept the changes and must learn the requirements according to the company needs. The staff will have to demonstrate the benefits and detail specifications of the e-vehicle to the clients or the customers. The sales team must advertise the e -vehicles to increase the productivity and sales of the company. In this way everyone can know about the e-vehicles, everyone can be encouraged about the technology and innovation. Thus the e-vehicles are both socially and culturally acceptable and people should adopt them for good. Is it safe not to have a human behind the wheel? No it is completely unsafe to not include the drivers behind the wheel. The self-driving cars come with advanced sensor and they consist of advanced algorithms. Though they look promising, but they have multiple glitches which must be addressed. The driverless cars are prone to accidents, the system within can malfunction at any time. The hackers or the attackers can even attack the cars and the make the cars vulnerable. Goldstein (2016) highlights that the self-driving cars are not fully equipped for all weather conditions, in heavy rainy conditions the car can malfunction, thus it is required to include human behind the wheel. Again the cars do not have the capability to know any roadblocks; it also fails to interpret any signals on the road. The cars cannot detect wavering of hands. Thus the self-driving cars do not have the capability to detect the wavering of hands of the traffic police. The driver is required to manage those difficult situations. Also the roadblocks can lead to fatal accident; the drivers can understand the possible reasons and can act accordingly. Again, the GPS sensors can malfunction; in that case the GPS sensors can give false notifications and false interpretations. According to Brown (2017), the self-driving cars solely drive on the basis of locations provided by the GPS sensors. Thus if the GPS devices give false interpretations it may happen the self-driving cars can face fatal accidents. The human intervention is absolute necessity, in case the autonomous cars fail, the humans can take control of the car. The self-driving cars exist today are not fully capable to drive all alone safely and securely. There are areas which require improvement. The research is going on. Tesla is also researching to find some better alternative. However, the driver intervention is required till the cars become fully autonomous. Solon (2016) explains that the self-driving cars require mass improvement and the flaws discussed in the report must be miti gated. The self-driving cars are beneficial and if those flaws are mitigated then the cars can be used safely and securely and also human interaction will not be required any more. In this way, the security implications can be made with respect to self-driving cars. Conclusion It can be concluded from the above discourse that the self-driving cars can create huge impact on human lives. There are multiple benefits that the self-driving cars offer. These cars drive cautiously and with care, they always follow the traffic rules and regulations and signals. They are programmed in such a way they will avoid collision with each other while they will hit the road. The humans will not have to learn driving and will not have to take extra effort, the self-driving car will make things simple for them, the people can move to any places with the help of these cars. However, there are certain drawbacks which these cars have that must be taken into consideration. These cars can be hacked by hackers, these cars fail to interpret the roadblocks or traffic polices wavering of hands. The GPS sensors if malfunction these cars can face fatal accidents. That is why one should sit behind the wheels. The report has highlighted the benefits of e-vehicles. The social, cultural, le gal and security implications with respect to self-driving cars have been highlighted in this discourse. The autonomous cars are improving and it is hoped they will come up with innovative features and will not require any kind of human intervention at all. References Brown, M., 2017. Tesla Autopilots Latest Update Has Autonomous Parallel Parking| Inverse.Inverse. Burns, C.M., 2017. 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