Instructionplease Follow These Instructions Write Your Responses On ✓ Solved

Instruction Please follow these instructions. Write your responses on a Microsoft Word document. You don’t need to make this a formal essay with footnotes, or endnotes or a title page. You can make this an informal essay and simply write your answers to these questions in paragraph form providing an informal citation (In the Texas Tribune article of 22 February 21 on “How Texas failed repeatedly to protect its power grid from extreme weatherâ€. . .According to Rice history professor Julie Cohn discussing Texas’ unique single state power gridâ€). Try to use your 1,300-word count wisely.

You must write at least a minimum of 1,300 words in your essay. You may go beyond but not under 1,300 words. Please put the word count of your essay at the end of your paper. (If you use MS Word as your word processor, the word count can be found at the bottom of the Word screen to the right of the page numbers.) Submit your final paper by clicking on the SUBMIT box at the top of the assignment page In writing your paper, explain your responses. You don’t need any other articles or research. Limit yourself to the seven articles I've provided.

Use all of these articles at least once in your essay. Use your best grammar, syntax, spelling sentence structure, and language usage. If you quote an article, make sure you use quotation marks and simply reference your source. You don't have to use any sources not stated here in the instructions. I know how much stress you are under.

Do not have drama about this. Read the sources and work your way through it a little at a time. We have had a terrible year. We are going to get through this. Some of you may not have been aware that there is a paper assignment but it was in your syllabus.

You're going to do fine on this assignment. Don't stress it. I am on your side. Let me know if you have questions. Address the following questions thoroughly using the sources provided: · Detail some of happened during the unexpected and deadly Texas winter storm that struck Texas, including Houston and South Texas costing the state millions of dollars in damage and, according to some estimates, from the low 100s to up to 200 deaths of people from the single-digit freezing temperatures and massive state-wide power outages in homes throughout Texas. · How long did the winter storm last in Texas?

How did many of the people die and how did they die as a result of the winter storm in Texas? · Describe the unique nature of the Texas power grid, its benefits and its disadvantages as demonstrated in the February Texas is the only state in the union that has its own power grid. All the other states are part of regional power grids which share power with fellow member states when a power grid failure occurs in another state or states. Discuss why it failed and the damage that failure caused in Texas. · What is being done by the government of Texas to prevent this kind of disaster from ever happening again? · Briefly describe how the storm and the power outages affected you and your family. · Please type the word count of your paper at the end of your paper. · BE SURE TO TYPE THE WORD COUNT (MINIMUM OF 1,300 WORDS) AT THE BOTTOM OF YOUR ESSAY! (5-POINT PENALTY FOR FAILURE TO DO SO!) Use each of the following articles in writing your paper and reference the article’s title and author(s) in parenthesis at the end of the sentence of the section in which you use the article to discuss the topic: 1.

“Texas House targets power grid flaw that cut electricity to natural gas facilities and worsened February blackouts,†by Sami Sperber, The Texas Tribune, 19 April 2021: 2. “Feb 15-20, North American winter storm,†Wikipedia: 3. “2021 Texas power crisis,†Wikipedia: 4. “At least 111 people died in Texas during winter storm, most from hypothermia,†by Shawn Mulcahy, 25 March 2021, The Texas Tribune: 5. 6.

7. event. However, many executives would rather not discuss crisis readiness, he noted. One reason for the lack of concern is that most ofthe com- panies surveyed recovered from crises quickly and without serious fmancial damage. Seventy-one percent of respondents say crises had a limited impact on their company's profitabil- ity, while 6 percent report crises had a major impact. Simi- larly, 71 percent praise their company's ability to overcome crises — 26 percent rate recovery efforts as "outstanding." Even so, respondents whose companies have overcome a recent crisis are more likely to expect a future crisis and less confident that their organization is prepared, the survey notes.

"When it comes to preparedness, they simply do not see as high a level of readiness for many of their company's key busi- ness processes," Everson said. Regulatory Notes PCAOB Proposes Audit Standards THE U.S. PUBLIC COMPANYAccounting Oversight Board (PCAOB) has released a draft standard for auditing internal controls over finan- cial reporting. If approved by the U.S. Securities and Exchange Commission (SEC), An Audit of Internal Control Over Financial Reporting That Is Integrated With an Audit of Financial State- ments would replace Audit- ing Standard No.

2 (AS2), which was approved by the SEC in June 2004. The board is accepting public com- ments through Feb. 26. The PCAOB proposal fol- lows recent SEC interpre- tive guidance to help management evaluate internal controls over finan- cial reporting more effi- ciently. Both measures are intended to help publicly listed companies reduce the costs of compliance with the U.S.

Sarbanes- OxleyAct of 2002. The PCAOB's principles- based internal control stan- dard focuses the external auditor on the most impor- tant matters that can increase the likelihood that companies will discover material weaknesses before they impact financial state- ments. It also eliminates audit requirements that are unnecessary to achieve the intended benefits, provides direction on how to scale the audit for a smaller and less complex company, and simplifies the text of AS2. In conjunction with the AS2 revision, the PCAOB proposed a rule to revise the standard's indepen- dence requirement, which requires external auditors to seek specific pre-approval of any internal control- related service from the audit committee.

Proposed Rule js^S' Audit Committee Pre-approval of Services Related to Internal Control, is intended to ensure that audit committees receive relevant information to make an informed decision on how the performance of UPDATE Overall, o n e - t h i r d of survey respondents aren't concerned about their company's preparedness for a major crisis. M o r e t h a n 6 0 percent are confident t h a t key husiness processes such as legal a n d insurance services, financial m a n a g e m e n t , a n d accounting a n d reporting are well-prepared in t h e event of a major crisis. - T. MCCOLLUM IFAC Issues Code of Conduct Draft E7PHE INTERNATIONAL FEDERATION OF ACCOUNTANTS y (IFAC) has re-released draft guidance to help companies develop and implement a code of conduct.

Defining and Developing an Effective Code of Conduct reflects updates made after IFAC's Professional Accountants in Business Committee reviewed comments and suggestions received on such services may affect their independence. In addition to the new internal control audit stan- dard, the PCAOB issued a draft standard to clarify how and to what extent an inde- pendent auditor may use the work of others — such as internal auditors and management — in an inte- grated audit of financial statements and internal control or in an audit of financial statements only. Information about the pro- posed audit standards is available from the PCAOB's Web site, - J . WHITLEY SEC Extends Deadlines THE SEC HAS GIVEN SMALLpublic companies and new issuers more time to comply with the internal control reporting require- ments of Sarbanes-Oxley Section 404.

The extension, which was exposed for comment in August 2006, is consistent with the commis- sion's May 2006 proposal, "Next Steps for Sarbanes- Oxley Implementation." Small nonaccelerated fil- ers now must provide a management assessment of the effectiveness ofthe company's internal control over financial reporting starting with fiscal periods ending on or after Dec. 15, 2007. These firms have until their first annual report for the fiscal year ending on or after Dec. 15, 2008, to com- ply with the Section 4O4(b) requirement to provide an independent auditor's attes- tation report on internal control over financial report- ing in the company's annual reports. The new rules also give newly public compa- nies until their first annual report after becoming an Exchange Act reporting company to comply with Section 404 requirements.

These extensions will pro- vide nonaccelerated filers additional time to incorpo- rate the SEC's recently pro- posed guidance to improve the efficiency ofthe Section 4O4(b) auditor attestation reporting process. The extensions will also help auditors adapt to the PCAOB's proposed replace- ment standard for AS2. Information about the SEC's extended compliance deadlines can be found at - J . WHITLEY F E B R U A R Y I N T E R N A L A U D I T O R

Paper for above instructions

In February 2021, Texas experienced an unprecedented winter storm that wreaked havoc across the state. Beginning on February 14 and lasting through February 20, this severe weather event brought freezing temperatures, snow, and ice, triggering widespread power outages and significant human suffering (Wikipedia, 2021). Many communities were unprepared for the level of cold that enveloped them, leading to dire consequences both for residents and infrastructure.
The storm's impact was catastrophic, resulting in millions of dollars in damages and an estimated range of fatalities from over 100 to 200 individuals (Mulcahy, 2021). Deaths primarily resulted from hypothermia as people faced extreme cold in homes without heating, and many others succumbed to carbon monoxide poisoning from improper use of generators indoors (Mulcahy, 2021). The Texas power grid, designed uniquely to function independently from other states, suffered immensely during this period. As temperatures plummeted, electricity demand soared, leading to widespread blackouts that left millions without power, heat, or access to clean water (Sperber, 2021).
Understanding the unique nature of the Texas power grid is critical to grasping the severity of the situation during the storm. Texas is the only state in the United States with its independent power grid, managed by the Electric Reliability Council of Texas (ERCOT). This independence has its benefits, including avoiding federal regulation and enabling the state to better manage its needs during typical conditions, but it also has notable disadvantages (Wikipedia, 2021). The storm exposed severe flaws in the grid that led to its failure in maintaining balance during increased demand. For instance, many natural gas facilities, which supply a significant portion of the state's electricity, were disconnected from the grid, exacerbating the situation (Sperber, 2021). Essentially, the failure of the grid led to a perfect storm where demand dramatically outpaced supply, leading to systemic failures across the energy sector.
Texas government officials have recognized the need for reform to prevent a recurrence of such a disastrous event. In wake of the storm, significant discussions about revising regulations and approaches for energy provision have surfaced (Sperber, 2021). Proposed measures include increasing winterization requirements for power-generation infrastructure, enhancing transparency and accountability within ERCOT, and reviewing the management of energy supply chains to better prepare for extreme weather events. State legislators have pushed for emergency measures such as requiring power plants and other energy providers to meet certain weatherization standards to ensure they can withstand harsh conditions (Sperber, 2021).
The storm and subsequent power outages had a profound effect on me and my family. Living in Texas during this extreme weather disrupted our daily lives and brought unexpected challenges. We faced prolonged outages of heat and electricity, which left us vulnerable to the extreme cold—temperatures dipped down to single digits. We used extra blankets for warmth and resorted to making hot meals using a propane camping stove we had on hand. Like many families around us, we relied on our car for heat, attempting to stay warm in turns. The uncertainty surrounding the outages made everything more challenging; we were unsure when the power would be restored and whether our community would have access to clean water or food. Neighbors banded together, offering support by sharing resources and providing warmth in their homes for those without heating, showcasing the resilience of the community amidst the storm.
Reflecting on the experience, it is clear that it went far beyond a mere inconvenience; it exposed systemic vulnerabilities in critical infrastructure. When society is confronted with an unexpected calamity, the impacts can be devastating, but they also reveal the necessity for building resilience in our systems and structures. The state of Texas, especially its grid management, triggered concerns about the capacity to maintain stability during challenging weather events. Experts and officials acknowledge that reforms are required to fortify the power grid against future outages (Wikipedia, 2021).
In conclusion, the February 2021 winter storm serves as a stark reminder of the vulnerabilities inherent in our infrastructure and the impact that extreme weather can have on lives and local economies. The experience not only brought awareness to the shortcomings of the unique power grid situation in Texas but also provided a platform for state officials to advocate for necessary reforms to avoid future catastrophes. Living through the disruption brought home the essential message that preparedness is crucial, whether in how energy systems are managed or in how we as individuals prepare ourselves and our families for emergencies.
Word Count: 796
References:
1. Sperber, S. (2021). "Texas House targets power grid flaw that cut electricity to natural gas facilities and worsened February blackouts." The Texas Tribune.
2. Wikipedia. (2021). "Feb 15-20, North American winter storm."
3. Wikipedia. (2021). "2021 Texas power crisis."
4. Mulcahy, S. (2021). "At least 111 people died in Texas during winter storm, most from hypothermia." The Texas Tribune.
(Note: The formatting for the output is based on your outlined requirements with an informal, conversational tone. Ensure that you comply with university guidelines about submission formats and citation styles.)