Top PDF Theoretical grounds of internal audit in the system of state financial control in Ukraine

Theoretical grounds of internal audit in the system of state financial control in Ukraine

Theoretical grounds of internal audit in the system of state financial control in Ukraine

the article considers modern directions of reformation of the system of state inancial control connected with introduction of the state internal inancial control. It considers economic essence of the state internal inancial control in the context of its components. It justiies the place of the internal audit in the system of the state internal inancial control in Ukraine. It considers existing deinitions of internal audit in legislative acts. It generalises views of scientists on interpretation of theinternal audit” notion. It provides deinitions united in approaches. It conducts a critical analysis of generalised approaches. It ofers the authors’ view on the essence of internal audit in budget institutions, which has certain positive features compared to existing ones.
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Research of internal control of Chinese enterprises based on Sarbanes-Oxley Act

Research of internal control of Chinese enterprises based on Sarbanes-Oxley Act

Obligatory requirements of the US Securities and Exchange Commission along with pioneering legislation for establishing internal controls, the Sarbanes Act is becoming a major influence to more and more Chinese enterprises. This is especially true for those enterprises already listed in the US as well as those planning to be listed in the US 6 . To be in compliance with the validity date of the Sarbanes Act, companies in the US must conform to Article 404 in the financial year after Nov.15, 2004. Apart from that, the date for other companies to comply was July 15, 2006. Therefore, it is imperative to comply with the Sarbanes Act for Chinese enterprises listed in US stock exchanges. Furthermore , internal control is the product of a social economy with development in certain stages. It is an important approach for modern enterprise management. In modern society with an advanced information industry, consistent improvement of an internal corporate control system is of great significance regarding the prevention of corruption and a reduction of earning losses. This will also lead to a promotion of capital regenerating capacity. As China has started late in terms of corporate internal control and without established theoretical systems, there is a large gap compared with developed countries in the west. Therefore, in consideration of the newest and most established theories in the world, as well as the search for various inspirations of corporate internal controls and formulating systems in China, it is viable to effectively promote these ideas to corporate management levels in China and increase enterprise value. Quick implementation of internal controls associated with enterprise and finance in China’s businesses will result in avoidance of risk and promotion of international competency.
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INTERNAL CONTROL MECHANISMS IN THE CONTEXT OF THE CHALENGE FINANCIAL CRISIS

INTERNAL CONTROL MECHANISMS IN THE CONTEXT OF THE CHALENGE FINANCIAL CRISIS

Internal control is, to some degree, the responsibility of everyone in an organization and therefore should be an explicit or implicit part of everyone’s job description. Virtually all employees produce information used in the internal control system or take other actions needed to effect control. Also, all personnel should be responsible for communicating upward problems in operations, noncompliance with the code of conduct, or other policy violations or illegal actions. A number of external parties often contribute to achievement of an entity’s objectives. External auditors, bringing an independent and objective view, contribute directly through the financial statement audit and indirectly by providing information useful to management and the board in carrying out their responsibilities. Others providing information to the entity useful in effecting internal control are legislators and regulators, customers and others transacting business with the enterprise, financial analysts, bond raters and the news media. External parties, however, are not responsible for, nor are they a part of, the entity’s internal control system.
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The role of a company’s internal control system in fraud prevention

The role of a company’s internal control system in fraud prevention

Financial statements based on Internaional Accouning Standards should present correct data as the basis for the decision making process. Without qualitaive inancial reporing it is not possible to manage the company adequately, atract potenial investors, procure desired loans, inluence share prices at stock exchanges, etc. Managers usually receive a ixed salary and a premium if owners expectaions are achieved. There is a risk that managers might abuse their posiion by seing their own interests before the interests of their company, which may lead to undesirable consequences for the shareholders, investors, other stakeholders, the capital market and society in general. Almost all business scandals in the last years were the result of fraud in inancial statements. A large number of inancial scandals in the USA (Wordcom, Enron) and in Europe (Parmalat, Ahold) demonstrated that even in developed market economies scandals can negaively inluence the status of employees, pensioners, business partners and other paries which are not protected from the risk of fraud. Globalized, inancial markets detect frequent frauds at naional as well as at the internaional level. Large disorders in regional capital markets caused by frauds in inancial reports have iniiated serious monetary shocks, especially in developing countries, since they are very sensiive to internaional inancial frauds. Frauds in inancial statements could be deined as conscious violaion of accouning standards while making inancial reports and presening false data. Such frauds exist as long as inancial reporing is oriented toward the achievement of a manager’s short-term goals. They are present not only in transiion countries but also in countries with developed economies and tradiional inancial reporing. Frauds in inancial reports in the recent past have caused devastaing efects in developed countries leading to the emergence of global inancial crises. Pursuant to Internaional Audit Standards (IAS) frauds in inancial reports are considered criminal aciviies of intenional wrong data presentaion (Međunarodni standardi i saopštenja revizije“, Savez računovođa i revizora Srbije, Beograd, 2005, p. 277) Associaion of Ceriied Fraud Examiners (ACFE) deines inancial report frauds as “the intenional, deliberate, misstatement or omission of material facts, or accouning data which is misleading and, when considered with
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The Influence Of CSR Awareness On Consumer Purchase Decision Of A Telecommunication Network In Ghana A Case Of La Nkwantanag Madina Municipality

The Influence Of CSR Awareness On Consumer Purchase Decision Of A Telecommunication Network In Ghana A Case Of La Nkwantanag Madina Municipality

Consumers are willing to pay a premium for products made in socially and environmentally responsible ways. Consumers claim that they are willing to pay a higher price for products of socially responsible firms, but are not willing to spend time on figuring out which firm is socially responsible. At the same time, a segment of consumers continue to buy products from firms with well acknowledged bad ethical conducts. Consumers do not act as what they claim. A small number of highly ethical consumers do exist. They care much about producers‘ CSR in their buying and consumption choices (Carrigan & Attalla, 2001). Carrigan and Attalla (2001) categorized consumers into four types based on their ethical awareness and ethical purchase intention. Consumers with low ethical awareness and low ethical purchase intention are called oblivious consumers. Confused and uncertain consumers are those with low ethical awareness but show high ethical purchase intention. Consumers with high ethical awareness who do not make purchase intention accordingly are cynical and disinterested consumers. The last type is caring and ethical consumers who obtain sufficient CSR information and are highly ethical in their purchase activities. Carrigan and Attalla (2001) also pointed out that consumers are not the only stakeholders of a business. Other stakeholders such as employees, environmental organizations may care much about a firm‘s CSR. Each stakeholder group has a focus on firms‘ CSR. The focus is usually what influences their interest most. When addressing CSR, firms need always engage the target stakeholders and their focus of concerns. Philanthropy seen everywhere without any consumer engagement has little contribution to consumer choice. Consumers‘ awareness of firms‘ CSR is limited in general, so opportunities exist in the communication of corporate social performance and social responsibility initiatives with consumers. Even though consumers‘ choices are not significantly influenced by a firm‘s CSR, it is still important to be socially responsible in business operations. Consumers may have more CSR information and become more ethical in their purchasing behavior in the future. In addition, the new generation may behave differently to socially responsible companies‘ products.
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The Concept of Early Vascular Ageing – An Update in 2015

The Concept of Early Vascular Ageing – An Update in 2015

hypertension (mean age: 60.4 years) without any other CV risk factors were enrolled. Augmentation index (AIx) and c–f PWV were measured by applanation tonometry at baseline and after 6 months of aliskiren titrated to 300 mg once per day. The addition of aliskiren had no efect on central AIx but signiicantly improved c–f PWV (9.4±2.7 m/s versus 8.7±2.5 m/s; p=0.04). In addition to improving systolic and diastolic BP, the addition of aliskiren to concomitant antihypertensive drugs may therefore be efective in improving aortic stifness and endothelial function in patients with uncontrolled hypertension. However, endpoint studies are needed in order to prove the overall beneits; the ALTITUDE study 52 was previously
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Human Capital and the Recent Fall of Earnings Inequality in Brazil

Human Capital and the Recent Fall of Earnings Inequality in Brazil

where is a set of linear restrictions that transforms the unrestricted model (1) on restricted model (2). 8 In our case, the restriction implies that the age, trend and (orthogonal) time dummies are sufficient to explain the behavior of each estimated statistic order across cells and over time. Imposing the restrictions means estimating weighted least squares regressions on the grouped data, for each quantile and education group separately. This procedure will give us consistent estimates of . Under the null that the restrictions are valid, the minimized value follows a chi-square distribution with degrees of freedom equal to the number of restrictions. In order to construct the test statistics, we only have to sum up the weighted squared residuals, that is, the estimated percentiles minus the predicted values minus the orthogonal time dummies.
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Prostate Cancer: A State of The Heart

Prostate Cancer: A State of The Heart

men treated with CAB (LHRH agonist + anti- androgen) displayed massive bone metastasis perfusion associated with a lare, which does not occur with the GnRH antagonist (degarelix), indicating that CAB may not reduce tumour size. A comparison of ive studies in patients after orchiectomy was presented, which showed that LHRH agonists are associated with a breakthrough of testosterone levels, with 20% of patients unable to consistently drop their levels below 0.7 nmol/L (20 ng/dL). 11–13 Prof Klotz then went on to describe

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Influence Of Industry Environment Adaptation To The Improved Performance Of Islamic Financial Institutions

Influence Of Industry Environment Adaptation To The Improved Performance Of Islamic Financial Institutions

Jones (2004) says that companies must constantly change or develop a way to use existing resources and capabilities to enhance the ability to create value and to develop its effectiveness. The amendment is intended to find improved performance. Performance is meant here is not the performance in the narrow sense that only limited to financial gain. Indeed, the advantage of course have to be hunted, because without profit companies will not be able to survive, but the goal of the company from a strategic management perspective is intended to Obtain and maintain a sustainable competitive advantage and Achieve superior performance. At first it only financial criteria used to assess whether or not the superior performance of a company. Performance serves as an instrument to determine whether the company has the ability to going concern, as well as a basis for formulating operational planning company in the future and for the information of shareholders, stakeholders, customers, regarding the achievements and success of the company. There are many approaches, in defining the performance, according to Mulyadi (2007: 337). Performance is the success of personnel, team, or organizational unit in achieving the strategic objectives that have been set previously with the expected behavior. Mulyadi, also explained that the successful achievement of strategic objectives needs to be measured. That is why the strategic objectives that form the basis of performance measurement is necessary to determine its size, and determined initiative to realize the strategic objectives of an organization tersebut.Tercapainya purposes only possible because of the efforts of the actors that exist in the organization. Prawirosentono (2000), defines performance as: "The work that is accomplished by a person or group in an organization within a certain time, in accordance with the authority and responsibilities of each, in an effort to achieve the goals of the organization in question legally, do not violate the law and in accordance with moral and ethical. In the related literature, there are two approaches to measuring the company's performance advantage (Supratikno et.al, 2005).
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Roughness of surface of vacuum castings prepared in plaster moulds

Roughness of surface of vacuum castings prepared in plaster moulds

Experimental castings were prepared in moulds made of two types of plaster. Cast temperatures were 1120 and 1200°C for bronzes and 700 and 800°C for silumin. Temperatures of the mould were 500 and 600°C for bronzes and 200 and 300°C for aluminum alloy. The roughness measurements were carried out with use of Hommelwerke Tester T1000. The average arithmetic deviation of roughness profile Ra, the ten-point height of irregularities Rz and maximum peak to valley height Rm, were measured.

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The role of self-control in competitive anxiety: a study of cognitive, coping and motivational processes

The role of self-control in competitive anxiety: a study of cognitive, coping and motivational processes

Although it appears paradoxical, athletes with higher levels of self-control showed lower levels of approach motivation, particularly in the dimensions of fun seeking and drive. However, these scales are more related to impulsivity (e.g., Gray, 1990; Quilty & Oakman, 2004) and reflect initiation, as opposed to inhibition (Corr, 2004), which explains these findings. Nonetheless, approach motivation is negatively associated with anxiety (e.g., Cury et al., 2002, 2003; Morris & Kavussanu, 2009), which was also observed in this study in the dimensions of fun seeking and drive. Therefore, these findings must be interpreted in light of the theoretical background of the measures used in this study. The Brief Self-control Scale (Tangney et al., 2004) is focused on inhibitory self-control behaviors, disregarding active goal pursuit. In fact, some recent alternative structures of this measure have been proposed to reflect these two dimensions in general domains (de Ridder, de Boer, Lugtig, Bakker, & van Hooft, 2011; Maloney, Grawitch, & Barber, 2012), but also in sport (Toering & Jordet, 2015). A discriminant analysis showed that somatic anxiety, concentration disruption, avoidance, distraction, fun seeking an drive were significant predictors of the differences between high and low trait self-control athletes. These results suggest the important role of self-control in the regulation of competitive anxiety. It seems that those with a greater self- control capacity tend to experience less anxiety in competition (e.g., Englert & Bertrams, 2012) and use less coping strategies avoidance coping strategies, including distraction (Englert et al., 2011; Galla & Wood, 2015). Additionally, fun seeking and drive were also predictors of the differences in self-control, suggesting that higher levels of self-control are related to less impulsive behaviors (e.g., Gray, 1990).
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The Impact of E-Commerce Securi ty, and National Environment  on Consumer adoption of Intern et Banking in Malaysia and  Singapore

The Impact of E-Commerce Securi ty, and National Environment on Consumer adoption of Intern et Banking in Malaysia and Singapore

Relative advantage is defined as the extent to which a person views an innovation as offering an advantage over previous ways of performing the same task (Roger, 1983; Agarwal & Prasad, 1997). Because Internet banking services allow customers to access their banking account from any location 24 hours a day and 7 days a week, it provides an enormous advantage and convenience to users (Tan & Teo, 2000). It also gives customers greater control over managing their finances, as they are able to check their accounts easily. Besides, a customer’s Internet experience, his or her banking needs can affect his adoption. As there are more financial products and services, it is expected that individuals with many financial accounts and who subscribe to many banking services will be more inclined to adopt Internet banking. Tan and Teo (2000) has reported that potential adopters of Internet banking services are likely to own multiple banking accounts and subscribe to various banking services. Rogers argues that potential adapters, who are allowed to experiment with an innovation will feel more comfortable with the innovation and are more likely to adopt it. Thus, if customers have the opportunity to try the innovation, certain fears of the unknown may be minimized. Government policy could also aid or hinder Internet diffusion (Mbarika, 2002). This is consistent with the national systems of innovation theory that posits that government policies may encourage or mandate technology development and adoption (King et. al., 1994; Wolcott et. al., 2001). Tan and Teo (2000) suggest that the greater the extent of government support for Internet commerce, the more likely Internet banking will be adopted, thus, confirming Goh’s (1995) suggestion that governments can play an interventionist and leading role in the diffusion of innovation. Potential users in turn would view new applications such as Internet banking services more favorably and hence be more like to use them. Thus, the second alternative hypothesis is:
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Why Basic Calcium Phosphate Crystals Should Be Targeted In the Treatment of Osteoarthritis

Why Basic Calcium Phosphate Crystals Should Be Targeted In the Treatment of Osteoarthritis

An understanding of the molecular mechanisms involved in the pathological efects of BCP crystals, although incomplete, has been signiicantly advanced in recent years. Recent studies have emphasised the important role of the innate immune system in the pathogenesis of OA. The NALP3 (NACHT, LRR, and PYD domains-containing protein 3) inlammasome complex has been implicated in MSU and CPPD crystal induced inlammatory disease. Activation of Toll-like receptor (TLR) pathways may play an essential role in progression of OA, and BCP crystals appear to be inherently involved in this process. BCP crystals have been shown in numerous studies to have multiple biological efects on articular cells such as chondrocytes and synovial ibroblasts (Figure 1).
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INTERNAL AUDIT IN CORPORATE GOVERNANCE

INTERNAL AUDIT IN CORPORATE GOVERNANCE

Knowing the defi nition of internal audit function, as regulated by law, as “independent and objective functional activity, which gives security and management advice for the proper administration of revenue” [1] and details the rules on internal audit work, the which shows that “must evaluate and make appropriate recommendations for improving governance” [2] consider that the internal audit activity maintains the entity to achieve its objectives through a systematic approach that brings added value input management processes.
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Financial Performance Analysis Of Financial Service Cooperative

Financial Performance Analysis Of Financial Service Cooperative

insufficient operating profit to pay interest, the owner must cover the shortfall. KJK main source of income is the income received from the services of loan. The loan is the provision of funds or claims by other parties who require the borrower to repay their loan with "reward" payment after a certain period of time (Decree of Minister of Cooperative and SME No. 20 / Per / M.KUKM / XI / 2008 Chapter, Article 1). To increase revenue, cooperative should increase granting loans. Manurutng (2012) says that the cooperative business entity who wants to grow must increase granting loans. In addition to providing income, the loan is also a major cause of problems in KJK. So it is not too much to say that the KIN of cooperative is strongly influenced by the success of the manager in managing the loan.KJK which is successfully manage the loan will grow, while KJK which is always undermined non-performing loan will fail. KJK loan management failures trigger problems in financial difficulties which in turn will give impact on the failure to achieve good KIN. Performance is an indicator of the achievement of the organizational tasks. Anthony (1997: 54) defines performance measurement as "the activity of measuring the peformance of an activity or the entire value chain". Bruce (2004: 9) suggests that, "firm financial performance as the total return to shareholders (percentage change in stock price during the year of s donation plus dividends per share as a percentage of the beginning stock price)." KIN is the total of shareholder returns (percentage change in the share price during the year plus dividend per share as a percentage of the initial share price). KIN is the company achievement showed by its financial statements as a representation of the company state during a certain period (Ganguli and Agrawal, 2009). Therefore, the company's financial performance is important for the owner. Arifin (2003) suggests that KIN cooperatives should be assessed on the success of the organization in carrying out two tasks,1) improving the economics of members through the services provided, 2) developing cooperative enterprise through the participation of members. Although cooperative is not profit oriented, but to survive, cooperative needs a strong financial performance because the ability to obtain margin may cover operating costs and gain optimal profit (Dasuki, 2013). To improve KIN of KJK PEMK, the city government allocates a revolving fund, as stipulated in the Regulation of the Governor (Governor Regulation No. 24 year 2008 and Governor Regulation No. 36 year 2012).
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Fields of study and the earnings gap by race in Brazil

Fields of study and the earnings gap by race in Brazil

The detailed questionnaire of the Census provides individual information about education, age, gender, race, employment status, labor earnings and occupation in the main job, and place of residence, among many other variables. Based on the information about race, which is self-reported, the sample is divided into white and black workers, where individuals who reported themselves as black or colored are included in the latter group. Asian and indigenous are excluded. For individuals who completed tertiary education, the Census has information about their fields of study. However, the classification system in 2000 is not the same as that in 2010. The appendix A describes how codes from different Census years are matched in this paper. As also shown in the appendix, the detailed categories for fields of study are aggregated into 10 broader groups, which are used in most of the analysis presented here. The Census questionnaire also allows identifying whether an individual has a graduate degree, although the 2000 survey does not distinguish between master ’s and doctoral degrees. In both periods, fields of study refer to the individuals’ highest degrees.
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An Advancement To The Security Level Through Galois Field In The Existing Password Based Technique Of Hiding Classified Information In Images

An Advancement To The Security Level Through Galois Field In The Existing Password Based Technique Of Hiding Classified Information In Images

IEEE standard images for different number of ASCII characters. Tables 1-2 indicate the PSNR values for various Stego-images of size 256 x 256 using the proposed techniques, calculated for 1500 characters. We conducted further experiments with the Lena image using more characters. Table 2 indicates the PSNR values for the Lena image calculated for up to 1997 characters using the three suggested techniques. Thus, using the proposed method, up to 1997 characters (or 15,976 bits) have been embedded in a 256 x 256 pixel image. This shows that, 12.5% of the image pixels are used to embed 15,976 bits and yet the perceptual quality of the stego-image is still high. The PSNR of the third method can be controlled depending on number of bits being stored in various positions. Considering a minimum of 34 dB PSNR threshold for stego-image perceptual quality [11] It is clear from the obtained PSNR values that the proposed technique can generate stego-images with good perceptual quality. For qualitative assessment, , Figures 11(a), 11(b) show the Baboon image before and after steganography using the proposed technique for 500 characters. Figures 12(a) and 12(b) show the Lena image using the proposed technique, for 1997 ASCII characters.
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CHALLENGES OF INTERNAL AUDIT IN THE CURRENT CRISIS

CHALLENGES OF INTERNAL AUDIT IN THE CURRENT CRISIS

The current financial crisis was triggered in the USA in 2007, ten years after the last extended financial crisis from South-East Asia. The first signs of what was to come were experienced in the summer of 2007, when financial institutions started acknowledging that they are dealing with significant losses on sub prime mortgage backed securities (CAFR 2009). The crash of the Federal Housing Administration (USA) is often considered responsible for the generation of the crisis, but the vulnerability of the financial system was caused by complicated contracts and financial operations, subjected to leverage ratios. The USA’s monetary policy priced credits at ultra-low rates, thereby encouraging very high leverage ratios and, according to American Professor of Sociology John Bellamy Foster (who wrote extensively on the subjects of financial crisis), a "hypertrophy of the financial sector”. A report on the crisis published by the Association of Chartered Certified Accountants identifies as the main factors that generated the crisis the following elements (CAFR, 2009:442):
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Corporate Governance- Issues and Challenges in Pakistan

Corporate Governance- Issues and Challenges in Pakistan

80 www.hrmars.com/journals for attaining a company's objectives, it encompasses practically every sphere of management, from action plans and internal controls to performance measurement and corporate disclosure. Corporate governance became a pressing issue following the 1992 introduction of the Sarbanes-Oxley Act in the U.S., which was ushered in to restore public confidence in companies and markets after accounting fraud bankrupted high-profile companies such as Enron and WorldCom. Most companies strive to have a high level of corporate governance. These days, it is not enough for a company to merely be profitable; it also needs to demonstrate good corporate citizenship through environmental awareness, ethical behavior and sound corporate governance practices. It is analyzed that corporate governance is emerging as a basic component of success in terms of the functioning of the corporate sector in financial markets. In this regard security and exchange commission of Pakistan has taken several initiatives for the effectiveness of corporate governance in Pakistan. Above all it was focus that addition of the independent directors in the Pakistani companies is crucial for attaining the better position in the global market by adopting the actual concept of corporate governance.
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The welfare state in the way of the financial system

The welfare state in the way of the financial system

Reduction of general mortality rate, but at a slower pace of decline than before the crisis; setbacks in advancements achieved regarding reproductive rights; barrier of access to undocumented immigrant women to health services; increase in cases of syphilis and gonorrhea, while new infections by acquired human immunodeficiency virus (HIV) decreased; drop in fertility rates; discreet increase in cases of abortion; increased spending by direct disbursement in health by older adults; slowing of the decrease in the death rate among older adults; increased mortality among older adults during the winter; no significant changes were observed in the incidence of infectious diseases due to the financial crisis; growth of in- hospital mortality by infectious morbidities; airway respiratory infections and influenza became more frequent in the group aged between 30 and 55 years; variations in incidence of diseases and worsening of vaccination coverage were not attributed to the crisis; anxiety disorders, depression, anguish, and alcohol consumption (dependency and abuse) increased significantly during the crisis (2006-2010); until 2011, there was no variation in suicide cases; 10% growth in the consumption of antidepressants and sedatives; empirical evidence shows that the experience of childhood poverty has an impact on health and socioeconomic status in adulthood, which can hardly be compensated; loss of the right to health care by the undocumented immigrant population; spending reduction (2009-2011)of the SNS in pharmaceuticals (42.5%), capital (38.7%), primary care (5.7%) and health surveillance (35.2%); notable increase in the waiting list for SNS attention; introduction of co- payments to drugs; end of the financing of a set of 400 drugs for minor aggravations; co-payment produced a huge drop in revenue in the dispensing of prescriptions by pharmacies; increased waiting time for surgical interventions; increase of people with private
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