The Criminal Justice System in Canada - 1343 Words

Every country has a justice system in place in their society in order to maintain peace and equality. The Criminal Justice System gives civilians the opportunity to receive integrity through a legal system while giving them a fair chance to deal with negligence and misconduct. There are several components that work together to enforce the purpose played by the Criminal Justice System. Most obviously, it includes the rules and laws entrenched in the Charter and Constitution in which prosecutors and judges base their decisions. Secondly, it consists of the parliament who is responsible for putting these laws together. Then come the enforcement agents such as police officers and defense attorneys who regulate society using these rules.†¦show more content†¦Therefore, it would become more reasonable for the environmental harm issue to be labeled as a mere offence rather than being administered through the Criminal Code. This issue leads into another problem. Another con we can explore is the dispute in regards to over-criminalization. Laws are constantly being broken and the more restrictions set on a society, the more opportunities there will be for people to disobey what they have been constraint from. In the 1960’s and 70’s, a committee was formed by the name of the Ouimet Committee. Their purpose was to principle how the Criminal Justice System should be enforced in order to protect all members of society. This included the offenders, with focus on serious, harmful and dangerous conduct. They said that the basic purpose of criminal law should be carried out with no more interference with the freedom of individuals than is necessary. This supports what was mentioned above, since everyone needs to have the ability to be free and not ruled by a higher class. The term over-criminalization is used to refer to too many unnecessary punishments. This is relative when referring to environmental harm since being locked in a jail cell wouldn’t help the situation. In fact, sending people to prison would be completely excessive. First off, if the new law were passed as part of the Criminal Code, it would mean that more people would be committing offences,Show MoreRelatedCanada s Criminal Justice System Essay2584 Words   |  11 PagesYouth Court Observation Assignment Canada’s Criminal Justice system offers youth justice courts which have exclusive jurisdiction over cases involving young persons. They are specialized so that they only handle cases involving young persons. Youth cases are also held in their own courtrooms in local courthouses. 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As one of the developed countries among the world, Canada’s national government has developed a complete justice system with a series of laws, sentences, punishments, and programs. This system is aiming to avoid the occurrence of crimesRead MoreYouth Justice in Canada750 Words   |  3 PagesYouth Justice in Canada Juvenile or youth crime has become a controversial issue in the politics of Canada because of the huge disagreements regarding how the youths should be treated in the criminal system despite of the fact that youth crime in the country is lamentable. The controversy is mainly centered on the best and most suitable approach taken to handle the youth criminals and the severity of the punishment that should be given (Makarenko, 2007). In addition to generating concerns andRead MoreIntroduction. Toronto, Including The Greater Toronto Area,1316 Words   |  6 Pageswith a current population of 5,406,324 (Monga Bay, n.d.). In 1985, Canada had an estimated population 3,356,000 and an estimated population of 4,925,000 people in 2005 (Monga Bay, n.d.). The fluctuation in population reflects a simple change in number over time and that change can cause an alteration of societal values, striving to change the criminal justice system. Youth probation officers have a role in the criminal justice system to supervise young offenders to ensure a compliance with court ordersRead MoreThe Canadian Criminal Justice System1219 Words   |  5 Pages The Canadian criminal justice system consists of multiple roles in order to sustain a well-working government system. The system is put in place in order to keep safety, equality, peace and fairness. There are four main functions of the criminal justice system that are interrelated segments that help protect a society from crime. The criminal justice system consists of policing, courts, corrections and parole. The component of the Canadian Criminal Justice System that will be discussed is aboutRead MoreEssay On Foreign Law977 Words   |  4 PagesForeign Law Canada’s Legal System is based on the English and French systems, they base this system on common law and civil-law, also called Bijuralism. Common law is law that evolved from precedent but is not written as legislation. Civil-law is rules to be a general guidance to problems that arise, courts do look at precedent, but they first look at the rules. Canada is a federation, which means it has a federal parliament that makes laws for all of Canada, and a legislature in each provinces andRead MoreThe Canadian Juvenile Justice System Essay1171 Words   |  5 Pagesto Bala and Roberts, around 17% of criminals were youths, compared to 8% of Canadian population ranging between 12 to 18 years of age between 2003 and 2004 (2006, p37). As a big federal country, Canada has taken a series of actions since 1908. So far, there are three justice acts in the history of Canadian juvenile justice system, the 1908 Juvenile Delinquents Act, the 1982 Young Offenders Act, and the 2003 Youth Crim inal Justice Act. In Canada, the judicial system and the principle of these laws haveRead Moreimprovements of our youth criminal justice system Essay1187 Words   |  5 Pagescommunity when seeking forgiveness for a minor offence that they have committed? Since the passing of Bill C-7 or the Youth Criminal Justice Act on February 4, 2002 by the House of Commons, many significant improvements have been made in Canada’s youth criminal justice system on how to handle and care for young offenders. Some of the reasons why Bill C-7 was passed in Canada was because the bill before it, Young Offenders Act, had many problems and suffered large amounts scrutiny by Canadian Citizens

ACCA Global - Prudence and IFRS

Question: Discuss about the ACCA Global, Prudence and IFRS. Answer: Introduction NONI B LIMITED is an Australian based company. This company is been rewarded as the best loved company by the ladies in the country. It is a fashion retailer company. The company was listed on the Australian Stock exchange in the year 2000. The ownership of the company have passed from multiple hands and in the year 2014 the company was sold to Alceon Bidco. After this change, the management of the company acquired certain other brands which include Queens Park and Events etc. The management of the company believes that every day is special and thus we should look fabulous to cherish the same. The management in order to attract customers have focused more on style, fit and superior service and as result the same has been quiet successfully over the period of last so many years. ( Noni B) On the other hand, the LOVISA HOLDINGS LIMITED was established in the year 2010. The company has been developed as the leading company in the country that deals in fashion jewellery. The company has its retail outlets whose numbers crossed the mark of 240 not only in Australia but in New Zealand, Singapore, and Malaysia, South Africa and United Kingdom and other franchised stores in the Middle East. The company has developed a model through which the latest trend that identified quite easily and the targeted customers are been provided with a broad and quality range of the products. The company has itself developed a business model that has been used to designs, develops, sources and merchandises 100% of its Lovisa branded products. The company after been started in the year 2010 has opened its first international store in New Zealand in June 2010. The growth and vision of the company is very much evident with the fact that the management of the company within a period of one year fr om the date they went operational has opened 51 stores all across the globe. (Lovisa) Conceptual Framework Looking at the financial report of both the companies, the directors report and the auditor report that has been provided, the management of both the companies has clearly meet out the reporting requirements imposed on accountants and those charged with governance of corporations. As per companies law, the management of every company or the persons charged with governance , in the directors report is required to state that they have complied with the accounting standards and with all the required provisions which are applicable on the company and based on the same the auditor in his audit report highlight this point. In case of both the companies, the director and the audit report contains both these points clearly and is very much evident The Lovisa Holding Company is an Australian domiciled company which has been set up with an intention of making profit through the help of carrying out retail sale of fashion jewellary and accessories. The consolidated financial statement of the company includes the information for the holding as well for the subsidiaries companies. The notes to the financial statements demarks that the financial statements of the company are prepared in accordance with the Australian Accounting standards provided by the Australian Accounting Standards Board (AASB) and the Corporations Act 2001. The financial statements of the company at the same time comply with the International Financial Reporting Standards as issued by the International Accounting Standards Board. The management for the purpose of preparation has used the Australian and the IFRS interpretations that have been issued by the International Accounting Standards Board. The management of the company has adopted all the new accounting s tandards and any change in the interpretations that has been introduced during the period while preparing the financial statements of the company. The consolidated financial statements and supporting notes form a general purpose financial report. It: Has been prepared in accordance with the requirements of the Corporations Act 2001, Australian Accounting Standards (AASBs) including Australian Accounting Interpretations, adopted by the Australian Accounting Standards Board (AASB) and International Financial reporting Standards (IFRS) and Interpretations as issued by the International Accounting Standards Board; Has been prepared on a historical cost basis except for derivative financial instruments which are measured at fair value. Non-current assets are stated at the lower of carrying amount and fair value less costs to sell. Snap Shot from Annual report In the Audit independence note, the auditor of the company has clearly demarked that there has been no contravention of the provision of the corporation act in relation to the audit. There has been no evidence in the annual report which states that the management of the company hasnt complied with the accounting standards. On the other hand, in case of Noni B limited, the financial statements of the company are again prepared in accordance with the Australian Accounting Standards Board (AASB) and the Corporations Act 2001. The directors of the company are responsible to ensure that the financial statement of the company gives a true and fair view in accordance with the applicable Australian Accounting Standards and the Corporations Act 2001. The directors in Note 1 to the financial report have clearly highlighted the facts and have complied with the provisions of AASB 101, Presentation of Financial Statements. These general purpose financial statements have been prepared in accordance with the Corporations Act 2001, Australian Accounting Standards and Interpretations of the Australian Accounting Standards Board and International Financial Reporting Standards as issued by the International Accounting Standards Board. The Group is a for-profit entity for financial reporting purposes under Australian Accounting Standards. Material accounting policies adopted in the preparation of these financial statements are presented below and have been consistently applied unless stated otherwise. Except for cash flow information, the financial statements have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities. There has been no evidence in the annual report which states that the management of the company hasnt complied with the accounting standards and the applied IFRS provisions or has contradicted with any of the interpretation that has been provided in by the board. The concept of prudence is likely to address the disparity in the corporate reporting. As per the prudence concept the expenditure and the liabilities are likely to be recognized in the books at times when the same has actually been occurred whereas in case of assets and income the same is likely to be recognized at times when the same has been realized. In the current scenario, the accountants and the accounting standards are facing the most criticism is in areas where the profit and the asset of the company are overstated. This risk has been addressed by including prudence in the accounting standards. The prudence concept now although been embedded in the accounting standards itself but still the same is required to be exercised separately by the preparers. Currently the prudence is very well discussed at the framework level at times of setting up the accounting standards. In the corporate governance statement, the management of both the companies has highlighted the importance of prudence and ensured that the financial statements of the company are prepared considering the prudence concept. The directors in the report has provided that the revenue and assets are recognized in the books only when they are certain whereas the expenses and the related liabilities are required to be recognized at time when the numbers are probable. Differences in disclosures NONI B LIMITED LOVISA HOLDINGS LIMITED companies are complying with the AASB standards and the Australian Corporations Act 2001, and the UK Companies Act 2006. There might be instances in the annual report of the two companies which shows that the disclosures made in the annual report for the same item may be different in both the companies considering the difference in the nature of the business. This difference in the disclosure requirement is also been highlighted in the below report out. NONI B LIMITED is an Australian based company. This company is been rewarded as the best loved and known ladies fashion retailer company in the country. The company is functioning only in Australia and is dealing only in the fashion retail. Thus there is no scope of going in for the segment reporting as there is only one operating segment in functioning. On the other hand, the LOVISA HOLDINGS LIMITED was established in the year 2010. The company has been developed as the leading company in the country that deals in fashion jewellery. The company has its retail outlets whose numbers crossed the mark of 240 not only in Australia but in New Zealand, Singapore, and Malaysia, South Africa and United Kingdom and other franchised stores in the Middle East. Thus I that case, the company have two reportable segments which include one as Australia and New Zealand and another one is rest of the world. As per the reportable segments, the management can have a better perception about the revenue and income that has been coming from the different segments. Both the companies are accounting in for Goodwill and are going through the impairment testing over the period so that if required the same can be charged off in the profit and loss account. In the case of Lovisa Holding limited, the company still has goodwill left for setting amortized and thus we have a separate schedule in the financial report where the same has been disclosed. On the other hand, in case of Noni B, the goodwill amount has already been impaired thus there has been no schedule in the report to project the movement. Lovisa Holding limited has been functioning in different locations, thus the company is required to take retail outlets on lease and thus accordingly some lease improvements are required. Thus in the books the management of the company is required to make some specific disclosure for the same with proper addition, depreciation and disposal. No such disclosure has been made in the books for Noni B Limited. Conclusion Both the companies are domiciled in Australia. They have clearly made all the disclosures that are required to be made in the books in line the applicable accounting standards and IFRS considering the nature of business that have been carried out by them. References Noni B, About the company, Viewed on 15th April 2017, Retrieved from https://www.nonib.com.au/ Lovisa, About the company, Viewed on 15th April 2017, Retrieved from https://www.lovisa.com.au/ Noni B, Annual report of the company, 2016, Viewed on 15th April 2017, Retrieved from https://d2wi7oxueeetcg.cloudfront.net/ts1490728469/attachments/Page/18/annual-report-2016.pdf Lovisa, Annual report of the company, 2015, Viewed on 15th April 2017, Retrieved from https://www.lovisa.com.au/media/wysiwyg/pdf/2015_ANNUAL_REPORT.pdf ACCA Global, Prudence and IFRS, Viewed on 15th April 2017, Retrieved from https://www.accaglobal.com/content/dam/acca/global/PDF-technical/financial-reporting/tech-tp-prudence.pdf