Poverty as we never knew it: THE source of vulnerability for most of humankind

ABSTRACT

Most of humankind lives in poverty. Over 1.2 billion people survive on less than $1.25 per day, and around 2.7 billion people survive on less than $2.50 per day. Of course, these statistics do not take into account those living in relative poverty within the very highest development nations in the world. Yet few within entitled sectors of the global economy have had much to do with people living in poverty, except for occasional and indirect contact. Even basic ideas about poverty lack clarity; for example, what is the line between poor and not poor both within and among countries? Is it only about income or do other resources matter or act as substitutes for money when impoverished consumers engage their markets? Is poverty in the USA the same or different than poverty in Sub-Saharan Africa? Answers to such questions are provided in this commentary through an examination of three different research projects conducted in poverty communities. Together, they reveal distinct patterns of results between more affluent and more impoverished consumers across the globe.     

District-wide school reform and student performance: Evidence from Montgomery County,Maryland

In the early 2000s, the Montgomery County (Maryland) Public School system implemented district-wide changes to funding, curriculum, staffing, and technology. Using data from 1995 to 2014, we employ a difference-in-differences strategy to show that the reforms significantly increased the percentage of students in Montgomery County who scored advanced on third- and fifth-grade math and reading tests. Using an event study strategy, we find that the positive impacts extended through the end of the panel. Our results contribute to the literature on school reform by finding positive impacts of school reform in a district that was high performing prior to reforms.     

Responses to COVID-19 in Southeast Asia: Diverse Paths and Ongoing Challenges

Due to geographical proximity and trade links with China, Southeast Asian countries were among the first to be exposed to and affected by COVID-19. However, despite shared challenges including protecting population health and economic security, policy responses by national governments have been varied and remain so a year into the pandemic. This article critically reviews Southeast Asian countries' approaches to COVID-19 with reference to individual country experiences and Association of Southeast Asian Nations. We discuss key policy responses: leadership, public risk communications, health system preparedness and resilience, economic support and social protection, aid and global health diplomacy, digital technologies, and the region's multilateral response.     

An inspector calls: farm accommodation providers' attitudes to quality assurance schemes in the county of Devon

Estimates suggest that 10 000 farms in the UK offer bed and breakfast (B and B) serviced accommodation. A thorough review of the existing literature indicates over 50% of Devon and Cornwall's farmhouse B and B sector operate without participating in any form of quality assurance inspection scheme. This research executes a stratified postal survey to gain a comprehensive understanding of Devon's farmhouse B and B product, with particular interest in extracting providers' attitudes towards quality assurance inspection schemes. The very representative results suggest a divergence of attitudes towards the notion of quality inspections for all farmhouse B and B providers. Copyright © 2002 John Wiley & Sons, Ltd.     

Herbal Pharma Inc.: Conducting an Effective Group Audit*

As the relative weight of global economic activity continues to shift toward non-OECD countries (OECD 2018), audit firms are more likely to encounter clients with significant business operations in foreign jurisdictions. The associated need to engage and oversee local component auditors in these jurisdictions can lead to challenges arising from different business cultures and the resulting intra-audit miscommunications. Audit deficiencies related to these challenges have been detected by regulators (PCAOB 2011, 2010; CPAB 2012, 2015). Standard setters such as the IAASB and the Auditing and Assurance Standards Board (AASB) have responded by issuing an exposure draft proposing revisions to ISA 600 (IAASB 2020) and CAS 600 (AASB 2020) to strengthen the auditor's approach and provide enhanced guidance to practitioners. In light of this evolving area of assurance, this case was developed to deepen students' understanding of both group and component audits in an international context. The case takes the perspective of the group auditor and features an audit senior in a specialized role overseeing the component audit of a client's increasingly material Chinese subsidiary. Deficiencies in the prior year component audit, along with a change in the component auditor, further underlines the importance of robust risk analysis for the upcoming engagement.