The Litigation Cost Rule: The ‘American System’ Versus the ‘European System’ and its Implications for Auditing

2013 ◽  
Author(s):  
Paul A. Barnes
Keyword(s):  
American System ◽  
System Versus ◽  
European System ◽  
Litigation Cost

The Implications of Alternative Litigation Cost Allocation Systems for the Value of Audits

1997 ◽  
Vol 12 (4) ◽  
pp. 353-372 ◽  
Author(s):  
J. Efrim Boritz ◽  
Ping Zhang
Keyword(s):  
Cost Allocation ◽  
Theoretic Model ◽  
Auditor Liability ◽  
American System ◽  
Equilibrium Strategies ◽  
Game Theoretic ◽  
British System ◽  
Game Theoretic Model ◽  
Litigation Cost ◽  
Pretrial Negotiation

When an auditor's effort is not observable, auditor liability becomes an important mechanism for motivating the auditor to exert an appropriate level of audit effort. However, although the presence of legal liability helps to preserve the value of an audit to investors, some aspects of the liability system may motivate suboptimal behavior and perhaps, ultimately, detract from investors' welfare. This paper seeks to contribute to the analysis of litigation-related issues by examining the effects of alternative legal cost allocation systems—the so-called American versus British rules—on the value of audits. Using a game theoretic model, the paper characterizes investors' and an auditor's equilibrium strategies in pretrial negotiation and the auditor's effort decisions. The paper finds that the American system (where the parties pay their own litigation costs) provides a higher audit value than the British system (where the loser of a case pays the winner's litigation costs), although the auditor's total expected costs are higher in the American system than in the British system.

National Module of the Black Sea Forecast as an Element of the European System

2012 ◽  
Vol 8 (1) ◽  
pp. 5-10
Author(s):  
G.K. Korotaev ◽  
Keyword(s):  
Black Sea ◽  
The Black Sea ◽  
European System

Cosmopolitanism and Nationalism: Redefining Fundamentalism in Mohsin Hamid’s The Reluctant Fundamentalist (2007)

2020 ◽  
Vol 1 (3) ◽  
pp. 44
Author(s):  
Quratulain Shirazi
Keyword(s):  
New York ◽  
National Identities ◽  
The Novel ◽  
Immigrant Student ◽  
American System ◽  
American Nationalism ◽  
Globalized World

This article is based on a study of The Reluctant Fundamentalist (2007), a novel by a Pakistani writer Mohsin Hamid.  The novel is based on the  story of  transformation of an expat Pakistani living in New York from a true cosmopolitan to a nationalist. The article will explore the crisis of identity suffered by the protagonist in a new land where he reached as an immigrant  student and worker. However, he experienced a resurgence of nationalist and patriotic sentiments within him as 9/ 11 happened in 2001.  The force of American nationalism that was imperial in nature, resulting in the invasion of Afghanistan and Iran, triggered resentment in the protagonist who decided to leave America and went back to the country of his origin, Pakistan. During his stay in America, the protagonist redefined fundamentalism as an imperial tendency in the American system while rejecting the accusations hurled towards him of an Islamic fundamentalist. The article will explain that there is a loss of cosmopolitan virtue  in the post 9/11 era and the dream of universal peace and harmony  is shattered due to unbridled  state ambitions to invade foreign territories.   The article will conclude with the assertion that the loss of cosmopolitanism and reassertion of national identities give way to confrontation and intolerance destroying the prospects of peace and harmony in a globalized world.

COMPARISON OF PAIN LEVEL DURING AND AFTER INTRAUTERINE DEVICE INSERTION: LEVONORGESTREL-RELEASING INTRAUTERINE SYSTEM VERSUS THE COPPER T INTRAUTERINE DEVICE

2016 ◽  
Vol 15 (5) ◽  
pp. 965-972
Author(s):  
Octavian Munteanu ◽  
Monica Cirstoiu ◽  
Iulian Antoniac ◽  
Catalin Cirstoiu
Keyword(s):  
Intrauterine Device ◽  
Pain Level ◽  
System Versus
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