The Importance of External Auditor’s Independence Essay

The Importance of External Auditor’s Independence According to Gillespie, Lewis and Hamilton (2004:221) an audit is: â€Å"a scrutiny of the accounts by a qualified auditor who carries out checks on the figures so as to establish whether the accounts show a true and fair view of the results and the financial position of the entity.† According to Wikipedia (2011a), auditor independence refers to â€Å"an attitude of mind characterized by integrity and an objective approach to the audit process†. Independent auditing has been an important part of the corporate monitoring system since the mid-1930s, when it became a legislation requirement after the Great Depression. This was caused by reckless spending by corporations in the late 1920s (Kim,†¦show more content†¦The auditing firm then also became defunct after a jury ruled against them for obstructing justice; after they had shredded documents of their auditing of Enron (Thomas, 2002). This was evidence to the potential of failure in independence between the corporation and the auditor. Therefore the lack of auditor independence may impact adversely on an audit in many different ways. Other than the two examples previously mentioned above, there have been many other corporations that experienced adverse reactions due to bad accounting practices and the lack of auditor independence. The independence of external auditors had been brought into question because of the potential influence the corporations had on its auditors. It used to be the duty of the corporation’s CFO to employ an external auditor. Therefore if the auditor’s report was not particularly favourable for the CFO, the CFO could decide to fire them and choose an auditor who would be willing to express a much more favourable view of the financial accounting of the corporation. This then led to the Sarbanes-Oxley Act of 2002 which gave the responsibility of choosing an auditor to an audit committee rather than the CFO (Locatelli, 2002). However there are still many other corporations that hav e experienced problems as a result of the lack of auditorShow MoreRelatedIndependence of External Auditor1203 Words   |  5 PagesIndependence of external auditor By:- shubham kanchhal Auditor independence  refers to the independence  of the auditor  from parties that may have a financial interest in business being audited. Independence requires integrity  and an objective approach  for the audit process. This concept requires the auditor  to carry his work freely and in an objective manner. The purpose of an audit to enhance the credibilityRead MoreWhy Is It Important for External Auditors to Be Independent? Relate Your Answer to the Primary Role of External Auditors. Give Examples of Specific Ways the Lack of Auditor Independence May Impact Adversely on an Audit.1648 Words   |  7 Pagescard number: 33237972 Word count: 1304 words AcF 100 Introduction to Accounting and Finance Lent Term: Individual Coursework Essay Topic: Why is it important for external auditors to be independent? Relate your answer to the primary role of external auditors. Give examples of specific ways the lack of auditor independence may impact adversely on an audit. In 2001, there was an event that had shaken the whole business world. The crash of Enron in US, followed by worldwide collapseRead MoreWhy Is It Important for External Auditors to Be Independent? Relate Your Answer to the Primary Role of External Auditors. Give Examples of Specific Ways the Lack of Auditor Independence May Impact Adversely on an Audit.1638 Words   |  7 Pages33237972 Word count: 1304 words AcF 100 Introduction to Accounting and Finance Lent Term: Individual Coursework Essay Topic: Why is it important for external auditors to be independent? Relate your answer to the primary role of external auditors. Give examples of specific ways the lack of auditor independence may impact adversely on an audit. In 2001, there was an event that had shaken the whole business world. The crash of Enron in US, followedRead MoreThe importance1244 Words   |  5 PagesFall 2013 Section 04 September 17, 2013 – Case #1: The importance of being independent (by Deloitte) Discussion Questions One of the key roles of the external auditor is to protect the interest of the public. To achieve this, it is important for the public to trust and have confidence in the work of an auditor. It is crucial that auditors appear independent to the public in both fact and appearance. For this reason, it is the auditor’s responsibility to ensure that there are no personal or businessRead MoreAudit Committee Annual Evaluation of the External Auditor3135 Words   |  13 PagesAUDITOR’S INDEPENDENCE AND ACCOUNTABILITY IN NIGERIA PUBLIC ENTERPRISE This study seeks to identify the determinants of auditors’ independence in public enterprises and determine the policy implications of lack of auditors’ independence in the public sector. The data for the research was primary and collected via questionnaire from the Nigerian Ports Authority Headquarters Lagos. The questionnaire responses were analyzed using the percentage method. The hypothesis was tested usingRead MoreWhy is it important for the external auditor to be independent?1495 Words   |  6 Pagesï » ¿Why is it important for external auditor to be independent? Throughout the years, banks, shareholders, possible investors and creditors always relied on the financial statements produced by a company. Since the management of a company is producing these documents it has been assumed that the managers may act dishonestly so that their performance looks better. To monitor the company’s performance better the directors along with the shareholders employ external auditors to check all these financialRead MoreEssay about External Auditors Must be Independent1154 Words   |  5 Pageseven after a decade has passed. Following this scandal, other massive organizations like WorldCom (2002), AIG (2004), and Satyam Computer Services (2009) shared the same fate. Since then, there have been questions being asked on the issue of the independence of auditors being one of the major contributors to these accounting scandals. Firstly, it’ll be good to know the definition of auditing. Auditing is the process of evaluation and analysis of business records to determine the accuracy or safetyRead MoreWhy Is It Important for External Auditors to Be Independent? Essay1446 Words   |  6 Pagesfor external auditors to be independent? Relate your answer to the primary role of external auditors? By Zachariah Godfrey-Plews This essay has asked me to look at the importance of external auditors and why it is vital for them to remain independent. I will try and look at the many ways of the advantages of independent auditing from different perspectives for example the company itself, the general public and the state. I think it is important to first define what an audit and an external auditorRead MoreImportance of External Auditors1110 Words   |  5 PagesThe aim of this essay is to study the function of external auditors in order to analyze why it is important to be independent. The primary mission of external auditors is to review and evaluate all the financial records of a company or corporation. They provide an objective opinion on the organization’s financial statement and effectiveness of the accounting polices in order to help management to make decisions. If the independence of the external auditors is impaired, the public will doubt the qualityRead MoreSummary of Sarbanes-Oxley Act of 20 021383 Words   |  6 PagesPCAOB to oversee external auditing and corporate governance issues that potentially affect the reliability of financial reports. Further, SOX increased the responsibilities of corporate managers for producing reliable financial reports and specified restrictions on the activities of external auditors to increase their independence from their audit clients. Though there are many provisions in the legislation and subsequent regulations, three issues are of primary importance for accounting. These

Oedipus Victim of Fate or He Deserves What He Got Essay

Fate is the development of events beyond a persons control, regarded as determined by a supernatural power. It is a very common theme used in literature. We’ve seen examples from stories such as: Romeo and Juliet, Hamlet and Iliad. We’ve been reading Oedipus the King written by Sophocles. My main thesis that I would be talking about is if: Oedipus was actually a victim of fate, or did he deserve what he got. In my opinion, Oedipus does not deserve what he got and is a victim of fate. This is because all his actions were unintentional. However, some of his actions were ignorant. Right from the beginning we see how Oedipus was envisioned to kill his father and marry his mother, thus his feet being pinned together and him†¦show more content†¦After solving the Sphinx’s riddle, he becomes the king and marries Jocasta, his mother. Again, we note that his action was unintentional. This was one of the reasons he should not have deserved what he got. He had good intentions; he wanted to flee from Polybus and Merope thinking of them as his real parents. This showed us that he was scared of the oracle from being true thus fleeing in order to prevent the mishap. Even he realized that the Gods were controlling him: â€Å"My god, my god-what have you planned to do to me?† Ln813p294 Although, he was smart and a quick thinker, most of the times his temper proved fatal to him. This is the flaw in his fate. He might be smart, but did deserve to be banished for killing the king and for the welfare of the people of Thebes suffering from the plague. He did all his actions unintentionally; yet, it could’ve been prevented. The murder of his father could have been prevented, if he were to be careful and ignore the fact about who was to go first. He showed no respect for elders on spot. He could’ve avoided this by just letting the old man go first instead of quarrelling. Also in the story, we see that he treats blind prophet Tiresias very badly (â€Å"You, shameless†¦corruption of the land!† Ln397-401 Pg278, â€Å"O power†¦your scheming means† 433-459 Pg279) and blames Laius’ murder on Creon, Jocasta’s brother: â€Å"Creon’s to blame,Show MoreRelatedCurses in Oedipus the King and Shakuntala and the Ring of Recollection1308 Words   |  5 Pagessuch remarkable creations of ancient myth are none other than Oedipus the King and Shakuntala and the Ring of Recollection. Oedipus the King is a Greek tragic drama by Sophocles and Oedipus the King is known as the perfect hero of tragedy in the sense he has suffered a misfortune of which he has no control. The play demonstrated human suffering and their inability to change the fate. It revolves around the name, fame and fate of Oe dipus. Shakuntala and the Ring of Recollection, is a very well-knownRead More Comparison of Oedipus and Hamlet Essay1322 Words   |  6 PagesComparison of Oedipus and Hamlet Compare and contrast Oedipus and Hamlet. Is Oedipus more a man of action? Or is he more a man driven by whim and sudden, rash decisions? Which character is more selfless? Does Hamlet show any signs of selfish motives in his actions or inactions? Which protagonist seems more learned? wiser? more religious? more loving? more incestuous? Which seems to be a better murder investigator? Does Oedipus have any of Claudius motives when he kills the king, Laius? ThenRead MoreEssay on Oedipus, The Tragic Hero 1451 Words   |  6 Pagesfamily, Oedipus was one of the bearers of a disastrous generational curse. He had no idea what he was born into, or what he would become. Poor Oedipus was put into to the world to serve as an example from the gods. Although Oedipus was said to be a victim of fate, he contributed to his own fate more than the gods. He was placed into the world to with a prophecy that he will kill his father and married his mother and conceive children with her, but that was just a prophecy not his destiny. Oedipus couldRead MoreGreek Tragedies in a Modern World Essay877 Words   |  4 Pageseveryone agrees with. The one factor that does seem to be present in every interpretation of what is necessary in a tragedy is the catharsis that is brought up in the viewer. Without that emotional reaction, whether of pity, empathy, sympathy, or perturbation, a work never seems to be classified as a tragedy. ONeill wrote Desire Under the Elms borrowing themes from the myths of Phaedra, Medea, and Oedipus. He was trying to create a Greek tragedy in the setting of his time. Racine wrote Phedre inRead MoreONeills Concept of Tragic Vision in Reference to Long Days Journey Into Night3245 Words   |  13 PagesRenaissance 1/6 Eugene O’Neill is the father of modern American drama. His vision of life was essentially tragic; the human dilemma is the theme of his plays, which are all, with one exception, tragedies. He is a great tragic artist, but with a difference. He writes tragedies of modern life which do not follow the traditional Aristotelian form. There are no tragic heroes, exceptional individuals with Hamartia, in the Aristotelian sense. His tragic characters are all drawn from the humblest ranksRead MoreEnter Antigone and Ismene from the Palace10899 Words   |  44 PagesANTIGONE: Ismene, my dear sister through common blood, do you know of any evil from Oedipus Zeus will not perform on us who still live? For I have seen nothing—nothing painful, nothing mad or shameful or dishonorable—(5) that is not among your or my sorrows. And now what do they say? The general has just put an edict over the whole city. Have you heard it? Or have you avoided learning how our friends suffer the fate of foes?(10) ISMENE: No word of friends, Antigone, either sweet or painfulRead MoreExistentialism vs Essentialism23287 Words   |  94 Pages------------------------------------------------- Essentialism vs. Existentialism Essentialism: A belief that things have a set of characteristics that make them what they are, amp; that the task of science and philosophy is their discovery amp; expression; the doctrine that essence is prior to existence While, Existentialism:A philosophical theory or approach, that emphasizes the existence of the individual person as a free amp; responsibleRead MoreCalculus Oaper13589 Words   |  55 Pagesto sexual matters in recent years, and her conception of a lesbian continuum sparked especially intense debate. Does lesbianism incorporate all support systems and intense interactions among women, or is it a specifically erotic choice? What is gained and what is lost with the second, narrower definition? Rich s assumptions also usefully raise the more general theoretical question: Is adult sexuality so closely associated with the infant bond that genuinely satisfying sex relations are likely toRead MoreDeveloping Management Skills404131 Words   |  1617 Pagessolution for courses in Principles of Management, Human Resources, Strategy, and Organizational Behavior that helps you actively study and prepare material for class. Chapter-by-chapter activities, including built-in pretests and posttests, focu s on what you need to learn and to review in order to succeed. Visit www.mymanagementlab.com to learn more. DEVELOPING MANAGEMENT SKILLS EIGHTH EDITION David A. Whetten BRIGHAM YOUNG UNIVERSITY Kim S. Cameron UNIVERSITY OF MICHIGAN Prentice

An Overview of The Sport Astroturf Free Essays

levels, athletes may no longer be seen as just people, but more as expensive liabilities. The health of these athletes become more and more important as it is not only their health which is on the line, but also millions of dollars. Injuries do occur in sports, especially contact sports, but astroturf increases these odds of injury. We will write a custom essay sample on An Overview of The Sport: Astroturf or any similar topic only for you Order Now It will be shown that astroturf causes increased wear on the body and an increased number of, as well as more severe injuries. Because of this, safer alternatives should be used in the stadiums. Astroturf is an unsafe surface to play on and should not be used by athletes. The wear on a players body after a game is incredible, so new innovations are always being created to lessen the impact of the sport on the athletes body; better shoes, more protective pads. These things allow the athlete to compete at the same level, but at the end of the game be in better condition to play in the next one. If this is the case, then owners of teams should consider getting rid of their artificial turf. Astroturf increases wear and tear on the body and causes more minor injuries than grass. This wearing down of the body would lead to quicker fatigue and decreased performance. Ever since astroturf was introduced, people have been complaining about its effects and these complaints are heard even louder in this era. â€Å"Athletes blame artificial turf for tendinitis, shin splints, and broken bones. † (Schrier,1987) Warren Sapp of the Tampa Bay Buccaneers is one of many football players who suffers from the effects of the astroturf. He says, It feels like you’ve been running on bricks for two miles, your knees are real sore and usually you come out with nine or 10 crapes and you don’t even know it until you get into the shower and it’s burning like hell. † (Wharton, 1999) Sapp’s pain comes from the fact that running on astroturf is only a little better than running on asphalt. Astroturf is made of nylon fibers which are five-eighths of an inch long stitched into a tightly woven mat. It is then laid over a five-eighths-inch-thick foam pad for cushioning and glued to an asphalt base. (Schrier,1987) So all that separates the athlete from asphalt is less than two inches of rubber. The other problem which Sapp mentions is â€Å"turf burn†. Since nylon resists tearing it also means that superficial wounds are more likely to occur. Though these wounds are not detrimental to the immediate health of the athlete they are painful and do affect the performance and possibly the longevity of the athlete’s career. Steve Young of the San Francisco 49er’s says, It’s not easy playing on your back patio. If you wonder what playing on artificial turf is like, go out there and fall down a couple of times. Then do what we do – run and scrape across. â€Å"(Unknown,1998) These ill feelings toward artificial turf are felt throughout the NFL. Another player described it as, â€Å"sandpaper laid over concrete. A poll done in 1994 revealed that ninety-six percent of more than nine-hundred players said artificial turf leaves them feeling sorer than after playing on grass. Ninety-four percent believe turf is more likely to contribute to an injury and half the players identified a previous injury they believed to be caused by astroturf. And many of these injuries are serious injuries; there have been many season ending and career ending injuries on turf. These more serious injuries though are the primary reason why artificial turf should not be used in stadiums. A Cornell University study showed that, †¦ foot and knee injuries occur on synthetic turf about 50 percent more than on grass. And when injuries do occur, they often are more serious and difficult to heal than those that occur on This was the case for three premier players in the NFL this season as Vinny Testaverde, Wayne Chrebet and Jamal Anderson were all severely injured because of Astroturf. The players were severely injured in a situation where there was no contact with other players. In Chrebet’s case two trainers said they had no doubt in their minds that he broke his foot because of the surface and nothing more. (Kirwan,1999) In the former two cases what occurred was â€Å"foot lock†. The friction between the shoe and the turf was too great and so as the players tried to cut their foot stayed, but the rest of the body kept moving. This would not have happened on grass Dr. Willibald Nagler of Cornell University explains, â€Å"When you play tennis on a soft court, you can slide into the stroke. That takes a lot of stress away from the ankle and knee. Grass allows you to slide too, a tiny bit, but it suffices, the same for football. † (Bernard,1996) So when making a cut, the foot will not give stay planted and the injury will not occur. Nagler goes on to say, Football on grass results in fewer ligamentous injuries, and those that do occur are not as severe, according to the published scientific articles. Furthermore, synthetic turf may exacerbate existing injuries, or make healing take longer. (Bernard,1996) These ligamentous injuries are usually the most severe injuries to occur because of the artificial turf. In an interview with Dr. Wayne Woodland, he explained that, â€Å"there is also an increased risk of concussions, and the turf causes many athletes to get turf toe. † Turf toe is a strain to the ligament in the big toe which is not only likely to reoccur, but it can also be a serious injury. Deion Sanders was lost for the end of last years season and was required to have surgery to fix the injury and the Atlanta Falcon’s Chuck Smith missed more than a month this season with the injury. Even more disturbing than the obvious increase in injuries is that there are at least three deaths and several more cases of paralysis which have been blamed on artificial turf. Players in the NFL are so livid about not wanting to play on artificial turf that in the past, the NFLPA have filed numerous lawsuits trying to get artificial turf labelled a â€Å"hazardous substance†. With the advancements of technology, astroturf needs to be replaced with something which is safer and less punishing for the players. In most cases this alternative is grass. Though, many stadiums will not switch to grass due to the economics of the situation. Grass is expensive to maintain and will limit the income of the stadium by limiting the erformances that can be put on there, such as concerts. Many people feel that the controlled environment is needed to allow for a better game. Players are looking for the safety of grass combined with a controlled environment and low cost. There are now many products on the market which claim to meet these standards. A new company called Fieldturf, in alliance with Nike, has released a product which more closely resembles the texture and response of grass. It is made of synthetic blades and is held up byan artificial dirt composed of silica and ubber that can be made of recycled running shoes. John Ingram, the Nebraska Cornhuskers’ director of athletic facilities says that, â€Å"It is the closest thing to natural grass I’ve seen,† (Barnes,1999) The Cornhuskers’ played their entire season on the field and did not have any injuries this year. This coupled with the controllable environment made the players and management happy with the field. This new field may be the wave of the future as not only is it cheaper than grass and astroturf, but it is durable and safe. In a study done by Dr. Bill Barnhill, he found that Fieldturf had less than fifty percent fewer injuries than grass and seventy-five percent fewer than astroturf. Of these injuries, ninety-three percent were minor injuries resulting in fewer than seven days lost. Though some naturalists may not like the idea, the Fieldturf system and other systems soon like it may begin to make grass and even astroturf obsolete saving people money and players from injury. Injuries to players such as Vinny Testaverde and Jamal Anderson should not occur. Artificial turfs are dangerous and should not be used in any situation. The studies of injuries in professional athletes on grass compared to turf clearly demonstrate the risk that athletes are at when playing on these surfaces. Whether they are small or large, many of them should not happen and would not happen if the surface would have been on grass or the newer, more innovative surfaces. Management should recognize that they are paying their athletes millions of dollars and should be put in a situation where they will perform and continue to perform to their expectations for many years. How to cite An Overview of The Sport: Astroturf, Essay examples

Environmental Economics and Securing Policy

Question: Discuss about the Environmental Economics and Securing Policy. Answer: Introduction: Environmental economics and policies regarding sustainable development have become a major issue in the world today. All the nations are now concerned about sustainability. Like rest of the world, Australia also has designed environmental protection legislations. One of the major issues in Australias environment is the damaging of the Great Barrier Reef. This is one of the most attractive natural wonders and the largest coral reef of the world. It is listed on the World Heritage List since 1981. It is not only admired for its beauty, but it presents a major biological diversity also. However, with time the reef is getting decayed and to protect the reef the Australian government formulated Reef 2050 long term Sustainability Plan by involving the science, society and government (Environment.gov.au. 2017). The reef 2050 plan is a supporting plan to the original Act of 1975, the Great Barrier Reef Marine Park Act 1975. The main objective of that plan was to provide long term conservation and protection of the environment and its biodiversity and heritage value of the Great Barrier Reef (Dss.gov.au. 2017). The other objectives were to spread the awareness of the region among the people by opening a park, where people could come and enjoy, as well as learn more about the national heritage. In March 2015, the Australian government announced the Reef 2050 plan. This aims to increase the sustainable activities revolving around the reef to give more protection to save the natures wonders for future generation. Hence, the Australian government developed this environmental legislation, which is set for the next 35 years (Environment.gov.au. 2016). The most significant threat to Great Barrier Reef is the climate change. According to the governmental organization, Great Barrier Reef Marine Park Authority (GBRMPA), the other major threats to the reef are poor water quality coming from land, effects of coastal development projects, increase in fishing activities, ocean acidification, oil in the water, storms, and coral bleaching. However, the reef scientists say that the damage is due to the cumulative effect of many such reasons. The increase in the number of visitors to the park and increasing pollution are also responsible for the damage of the reef (Gbrmpa.gov.au. 2017). The reef 2050 plan is developed primarily to combat the challenges of the survival of the reef. It is important to reduce the pollutant activities and other negative externalities to conserve this national heritage and for doing so, formulation of legislation is the best way to stop the damaging activities as well as increasing the awareness (Business.gov.au. 2017). In Reef 2050 plan, the government plans to spend more than AUD 2 billion in the next decade. This plan brings together the government, industrialists, scientists, researchers, commercial and residential owners, and the society. The major actions of this plan comprise of management of the reef, which includes (Authority, G.B.R.M.P. 2015); reducing industrial wastes and pumping the wastages into the ocean, banning of disposals in the park region, prohibition of any further development or expansion of new ports in the nearby region, improvement in the plans for shipping and fishing in the reef region, providing extra protection to the turtles and dugongs, reducing the pesticides load, sediment load, nitrogen load in the agricultural sector to reduce the water pollution, appointing a Minister from Queensland for the supervision of the Great Barrier Reef. The government has planned for more than AUD 2 billion for the above mentioned plan. Along with that, it has created a trust fund of AUD 40 million for research and management of improving water quality and reducing pollution (Legislation.gov.au. 2017). Success of the policy so far: There has been significant progress towards betterment of the condition of the reef after the implementation of the Reef 2050 plan. This policy targets integration of different levels of supervision of the environmental factors to improve the condition of the reef. This is a policy for sustainable development. Hence, the government has put substantial amount of investment in various segments of this policy. So far, the researchers found that the quality of the water entering the reef has improved significantly due to better land management. Five big industrial ports had proposed 18 months ago, to dispose of capital scoured constituents in the marine park. The government has brought it down to zero through regulations. They also put permanent ban on disposal of capital dredged materials in the reef region and put restrictions on the expansions of the ports (Dale et al. 2016). The first major attempt of the plan was to improve the water quality entering the reef from the land. Since 2003, there has been implementation of Reef Water Quality Protection Plan, which helps in reducing water pollution. 35 major river basins drain the 424,000 sq km of the coastal regions of Queensland and this huge amount of run-off goes in to the reef. The land based run-offs include industrial and residential wastages. The developmental plan helped to reduce the water pollution significantly. The pesticide load is reduced by 28%, sediment load by 11%, nitrogen load by 10% (Hughes, Day and Brodie 2015) To reduce the effects of climate control, the government has taken the effort of reducing carbon-di-oxide emission. If it is kept at or below 380 parts per million, then the corals would be moderately vulnerable and they would dominate the reef. Other measures include (Wallace et al. 2015): controls on coastal developmental projects, reducing ocean acidification, controlling the population of coral eating Crown of Thorns starfish with the help of organic nitrogen injections, managing shipping movements by reducing number of ships per day and focusing on the new technologies for ship tracking and giving alerts for ship breakdown, reducing fishing activities and encouraging ecologically sustainable practices of fishing, providing net-free zones for fishing, and application of knowledge, science and technology (Brodie and Waterhouse 2016). Recommendation: The Great Barrier Reef is a natural wonder, and not a museum piece, which stays in a constant state. Hence, the preservation and conservation of the reef requires effort of a different level. Although the Australian government has invested a huge money and effort for the reduction of further damage to the Great Barrier Reef, and the plans are yielding good results, still there is scope for improvement (Woodford 2014). Empowering the GBRMPA: the power of GBRMPA should be increased for the best interest of the park. It does not have much authority required for dealing with government or industry for various issues. The authoritys culture should be rebooted with more power to take steps for the betterment of the reef. Disallowing the controversial issues in the marine ecosystem: there are many controversial issues such as dredging and waste mismanagement from the industries, which affect the reef. Such issues should be handled on a priority basis. Dumping of waste near the reef is more controversial than development of protection zones, hence, that should be addressed first. Pushing the country to develop renewable source of energy and reduce the usage of coal: coal extraction must be reduced to save the reef. Renewable source of energy is now more preferred than coal. Coal is not only used domestically, but is exported also. The dependency on coal should be reduced by using renewable source of energy (Grech, Pressey and Day 2015). Tighter control on agriculture: the beef cattle grazing industry and sugarcane production use many pesticides, which needs to be controlled. Pushing the establishment of the management plans for Coral Sea Marine Reserve: this is the worlds largest single gazetted marine park. The Coral Sea Marine Reserve and Great Barrier Reef Marine Park are two neighboring parks and the marine species and ecosystems are dependent on each other. Hence, the management should be efficient to protect these ecosystems from commercial fishing (Pandolfi 2016). Making fishing control more strict to maintain the ecosystem of the reef: this is a critical aspect for both commercial and non-commercial fishers. The actions taken by the commercial and recreational fishers to remove predatory fishes have helped in the maintenance of the ecosystem of the reef. Such actions should be taken more frequently. The standard of ships passing through needs to be improved: the GBRMPA states that the shipping traffic consists of around 2000 ships making approximately 7000 voyages. With the increase in the mining activities in Queensland, this traffic is expected to rise. Hence, the standard of the ships passing through the reef region must be of improved quality so that wreckage, breakdowns, oil spills can be reduced. A huge oil spill can wreck havoc on the reef. Restore and enhance the budget for marine science research with high priority: many reef specialists and scientists are not employed in the research projects for the reef. To utilize the full potential of the researchers and have latest scientific techniques to save the reef, more budget should be allocated and more projects should be launched for extensive research on the reef. Boosting the research for measures of climate control: more research works should be undertaken to boost the measures of climate control. It is important to ensure the survival of the corals and scientists are interrogating the methods if the heat resistant corals can be translocated from much warmer waters to regions that are more southern. This might increase the chance for their survival (Pandolfi 2016). Conclusion: The Great Barrier Reef is a national identity of Australia. It is the worlds largest system of coral reef. It is situated on the east coast of Queensland, Australia, in the Coral Sea. Two great constant changes of the reef are destruction and regeneration. It is never same all the time. Hence, preserving this natural wonder is extremely important for a sustainable future. The Australian government has implemented many policies over the years to protect and conserve this structure. Along with the Great Barrier Reef Marine Park Act of 1975, it has introduced Reef 2050 Long Term Sustainability Plan for more and better protection of the reef. It has put more efforts in the research and science to invent and improve ways for handling climate change, water quality, fishing activities, shipping traffic, ocean acidification, and coral bleaching in and around the reef region. There has been much progress so far, however, there are still ways that can be practiced and implemented to save the c oral reef. References: Authority, G.B.R.M.P., 2015. Great barrier reef outlook report 2015. Brodie, J. and Waterhouse, J., 2016. Great Barrier Reef (Australia): A Multi-ecosystem Wetland with a Multiple Use Management Regime. Business.gov.au., 2017. Environmental legislation. [online] Available at: https://www.business.gov.au/info/run/environmental-management/environmental-legislation [Accessed 26 Apr. 2017]. Dale, A.P., Vella, K., Pressey, R.L., Brodie, J., Gooch, M., Potts, R. and Eberhard, R., 2016. Risk analysis of the governance system affecting outcomes in the Great Barrier Reef.Journal of Environmental Management,183, pp.712-721. Dss.gov.au., 2017. Environmental Policy. [online] Available at: https://www.dss.gov.au/about-the-department/policies-legislation/departments-corporate-policies/environmental-policy [Accessed 26 Apr. 2017]. Environment.gov.au., 2016. Highlights of the Reef 2050 Long-Term Sustainability Plan. [online] Available at: https://www.environment.gov.au/marine/gbr/publications/highlights-long-term-sustainability-plan [Accessed 26 Apr. 2017]. Environment.gov.au., 2017. The Great Barrier Reef. [online] Available at: https://www.environment.gov.au/marine/gbr [Accessed 26 Apr. 2017]. Gbrmpa.gov.au., 2017. Legislation, regulations and policies - GBRMPA. [online] Available at: https://www.gbrmpa.gov.au/about-us/legislation-regulations-and-policies#leg_spec_gbrmp [Accessed 26 Apr. 2017]. Grech, A., Pressey, R.L. and Day, J.C., 2015. Coal, Cumulative Impacts, and the Great Barrier Reef.Conservation Letters. Hughes, T.P., Day, J.C. and Brodie, J., 2015. Securing the future of the Great Barrier Reef.Nature Climate Change,5(6), pp.508-511. Legislation.gov.au., 2017. Great Barrier Reef Marine Park Act 1975. [online] Available at: https://www.legislation.gov.au/Details/C2016C00551 [Accessed 26 Apr. 2017]. Pandolfi, J., 2016. Five things we can do right now to save the Great Barrier Reef. The Guardian. [online] Available at: https://www.theguardian.com/australia-news/commentisfree/2016/jun/13/five-things-we-can-do-right-now-to-save-the-great-barrier-reef [Accessed 26 Apr. 2017]. Wallace, R., Huggins, R., Smith, R.A., Turner, R.D.R., Garzon-Garcia, A. and Warne, M.S.J., 2015. Total suspended solids, nutrient and pesticide loads (20122013) for rivers that discharge to the Great Barrier ReefGreat Barrier Reef Catchment Loads Monitoring Program 20122013. Department of Science.Information Technology and Innovation. Brisbane, p.3. Woodford, J., 2014. 10 steps to save the Great Barrier Reef. The Guardian. [online] Available at: https://www.theguardian.com/commentisfree/2014/oct/28/10-steps-to-save-the-great-barrier-reef [Accessed 26 Apr. 2017].