Critical Evaluation and Appraisal of the P.F.I. and role of the Essay - 1

Critical Evaluation and Appraisal of the P.F.I. and role of the External Auditor in assessment of value for money - Essay Example The Private Finance Initiative grants private companies the right to design, finance, and manage the public facilities. The initiative favorably does not increase our nation’s national debt. In fact, the initiative did not form part of the total national debt calculation during 2005 and 2006 to comply with FRS 5 requirements. FRS 5 requires the Public Finance Initiatives are not shown as liabilities in the company’s financial statements (. There are advantages of the Public Finance Initiatives. The initiative contributes value for money to the government. Another advantage is the government’s not being required to borrow money or invest in the construction of public service facilities. The HM Treasury Department correctly affirms the Private Finance Initiative (PFI) was the best value for money procurement alternative, using private funds to implement government projects. One Liverpool City Council leader affirmed the Private Finance Initiative (PFI) provided the value for money source for the construction of the Royal Liverpool and Broadgreen University Hospitals. Professor Ron Hodges similarly agreed stating PFI may be the only available fund source with the government’s low budget constraints (Tyrie, 2011). There are disadvantages of the Public Finance Initiatives. One disadvantage is the increased risks. Another disadvantage is the possible mismanagement of the facilities, generating complaints from several sectors. In one situation, the NHS correctly selected two private firms’ bids for its 1999 - 2000 Public Finance Initiative projects. One of the bidders did not submit any bids. Consequently, the lone bidder increased its bid price by 33 percent. The absence of other bids persuaded the lone bidder to increase its bid price, monopolising the bid process (Corner, 2006). The Private Finance Initiative (PFI) correctly represents the government’s

AP English Language and Composition-Timed Writting Essay

AP English Language and Composition-Timed Writting - Essay Example licy whose implementation was intended to save power usage and practiced by countries such as United States, Britain, France, Israel, Mexico, New Zealand and other countries (Source C). Its expanded use however believed to have other benefits in other areas such as traffic safety and crime reduction (Source A) According to a study made by U.S. Department of Transportation in the 1970s, DST reduces America’s electricity usage â€Å"by about one percent† daily when the DST is in effect for an eight month period (Source C). This result is replicated in other countries that also practice DST. It was also observed by the same study that crime rate was reduced by as much as 10 to 13 percent when DST was in effect attributing to the fact that the extended daylight decreases the opportunity for crimes against those people who are returning from work (Source C). Study also showed that traffic accidents were reduced when DST is in effect (Source C). Daily Savings Time policy intent of saving electricity consumption however is not without its share of detractors. There are also several sectors that opposed its implementation among them was the airline industry who believed that the extension of DST from a uniform six months to eight months would cause problems in airline’s schedules that would incur them millions of dollars in losses. The perceived benefit of saving electricty consumption through the implementation of DST was also challenged by another study that reported that contrary to the policy’s intent, DST in fact increases the use of electricy consumption for about one percent and there are even instances during fall that the increase rose between 2 and 4 percent (Source –Kotchen). The expanded benefit of DST of crime reduction and traffic safety was also attempted to be offset by the study that reported that DST can cause sleep disruptions and possibly other serious consequences (Source E). These findings however are not that conclusive