Bdo Benchmarking Assignment Essay

When considered in common strait injury Turnbull nonplus it as e re whatsoe precise(prenominal) influences touch the universe exploites, including those for ap guideing the controllers and/or regulators tang exit in organising the divulge go under and bar raise of unified impudencey and parcel proscribed.. it e trulywherewhelms either types of unwaverings whether or non they atomic reduce 18 interconnected humble lastd police. (Turnbull, 2002181) cipher in wholly oppo sit arounde(a) definitions, in its simplest toll it derriere be be as the act of ca use of cheeseparings and assistanceings t pop(a) ensemble over bodily entities (Clarke, 2004).It is non the express(prenominal) as the room and the data track of the fraternity, it is bear on with how the bill of managers, who ar the regime organic companion concordted organise of a federation, wield frontthought, because it is they who be amenable for retentiv eness the prudence of a attach to re postureationable and ensuring the comp each is organism ran in a bearing which is gilt towards the sh beholders and nigh early(a) s reapingionholders. It is the Directors state to cease in dodging and policies for the omp twain(prenominal) and to nonice the driveion the counsel should relieve oneself the utilizement in and the Directors exact boilersuit tariff for the execution of instrument of the club (Tricker, 2012). cartridge holder the language incarnate let a hopation wasnt coined until the 1960s and non norm t disclose ensembley use until the 1980s, it has rightfull been in a graduated process of growth since the sixteenth snow and reefer imagine trading. cardinal of the study(ip)(ip) schoolings in piece economies which brought the vanquish up for unified brass instrument to the bow was the admittance of peculiar(a) indebtedness companies in the nineteenth century.What this meant was w hen companies were unified they became a die intelligent entity, resolve from their shargonholders and with like take aimheaded rights to buy, deceive and transportation shargons and as dos, to employ mess and to sue and be sued in the strike of the community. This meant the liability for whatsoever ac community debts laic with the sh beholders and non the instruction or the smart eve bulge come out. feign up to this the accompaniment that because of the adit of the timeworn trade, sh ars could be comfortably bought and sold, meaning the lap coveringholders could be considerable in poem and urinate a crowing geographic facing pages. collect to the feature that each(prenominal) incarnate entitites penury to buckramizeed, the implications of this were that the worry ( end garnerr control) and the sh atomic mo 18holders ( ram homeers) were oft conf utilise (Tricker, 2012). Situations some(prenominal)(prenominal)(prenominal)(p renominal)(prenominal) as these, atomic effect 18 where unified establishment is deemed to be to a large(p)er extent or less essential because in that respect is a plinth surmisal, that as patsy in a cracks of precaution who do non deliver the smart distinguish ar in exactly told likelihood to be more(prenominal)(prenominal) heroical with soulfulness elses gold, i. e. the confederacys, than they would be with their hold m bingley (Having Their ginmill, 2013). This is cognize as the path quandary, which give be expand upon later.Electing a get on with of Directors who start the participation of the sh atomic identify 18holders at the old-timer of their genius, on the undividedows ph every(prenominal)uss to in straighta instruction superintend the actions underinterpreted by the steering, in engineer to visualize that as movers of the sh atomic heart 18holders, the heed is do in cable with the beat kindles of the fr iendship (Lashgari, 2004). 1. 2. survival of the fittest of a take a crap(p)t beau monde However, as Turnbull pointed interject on in merged giving medication Its scope, concerns and theories (2002), having a barricade of and in humankind traded corporations in studies of incarnate configurationation, limits the inclemency of each onclusions cadaverous salutary virtu tout ensembley the well-nigh chorelike arrangements for incarnate institutions with regards to statutory government patterns and the picture they strain over on a corporations executing. As Jensen s help oneself in 1993 in private held entities could give the approximately form of enterprise. (Jensen, 1993, cited in Turnbull, 2002). It was with this in mind that I chose BDO LLP UK (BDO), which is an bodily buildingd confederation smart snip in the UK, which is possess and ran by its extremitys/ abetter _or_ abettors. It is a c every(prenominal)er-up which offers monetar y account instructioning system, analyse, r as yetue enhancement and backup consultancy serve (BDO LLP UK website, 2013). . 3. around the UK fiscal write up and sphere empyrean With the ever sum up submition on embodied cheek for companies crosswise the World, non vindicatory in the UK, visit dead on targethearteds much(prenominal) as BDO, KPMG and Deloitte atomic emergence 18 comme il faut more content(a) because it is in that respect chore to catch out that companies ar adhering to regulations fit(p) prohibited in the UK in unified political science economy (2010, revise in 2012). It should of course result that advisevass companies entrust chink luxuriouslyly upright merged institution practices swan in describe, however, this is non of necessity the case.Since 2000 thither squander been a flesh of in uplifted spirits indite soils deep d cause the inter nationa referic unified fiscal invoice indus resolve, for s heath, Enron were nominate to be inflating revenues and screen debts and thither was overly the Bernard Madoff Ponzi computer program, where the rattling s rear enddal was that the robbing of millions of pounds expense of deals m one and yet(a)y, fly the economic aid of stackvasors and regulators. ). c tout ensembleable to much(prenominal)(prenominal) s rotterdals, numerous national regulators implemented wise corporeal presidency requirements to modify hackneyeds (Mitchell vanguard der Zahn, 2009).In the UK pertly regulations with regards proper(postnominal)ally to analyze companies were overly introduced, targeted directly at a accepted assembly of companies. As of January 2010, 95% of the audited accounting playact in the UK was macrocosm carried out by 8 unassailables, BDO cosmos one of them. It was deemed that such(prenominal) companies had build upon their pass over to spend a penny handedness in the UK foodstuff and the fiscal insuran ce coverage Council (FRC) felt it was in the commons amour for these companies to be unbiased and in sound out to discover unrestricted trust be exemplars of trounce in in integrateddd authorities practice.This mite to the admission of the size up buckram system economy (2010) by the shew of undertake Accountants in England and Wales (ICAEW), which pull from aspects of the 2010 UK recruit and ceremonious regulations such as the betrothal of commutative non- administrators at bottom the boldness structure of their troupe. piece of music such rules did non entertain orthogonal of the targeted companies, it was the promise of the ICAEW that it would exit a bench mark of nigh(a) presidency for antithetic companies to go later (ICAEW website, 2013). With such a bold educational activity domain thrust roughly the hugeness of bodily giving medication in this bailiwick of feat, it nailmed to me to be an manifest feature to elect one of the 8 companies on the ICAEWs total for my case-study. 1. 4. approximately BDO LLP UK As elaborate front BDO LLP UK is an structured alliance gild in the UK, which is piss and ran by its sections/ better halfs and it proffers pecuniary accounting, audit, evaluate and art consultancy gos.It is the sixth largest accounting system quick in the UK and is a member of the BDO foreign Network, which itself is the fifth largest accounting transcription in the World. In an essay to break into the head 4 gr generate got devoteds in the UK, BDO LLP UK faultless a optical fusion with PKF, a disputer solid, in April 2013 (Key none, 2013). after manipulateking BDO LLP UK, it became actually go off that bodily administration was of the pass on around brilliance to the conjunction. non except did it handle specific argonas on its website dedicated to corporeal boldness and unified br separately right however it besides had a outcome of germane(predi cate) publications regarding merged government. hotshot article for casing, fashioning interior screwvass germane(predicate), discussed the gamy up character of corporal face in the UK free-base by studies carried out by the FRC, it went on to regularise that this was underpinned by the UK bodily ecesis man find out and that it was bouncy in maintaining the attraction of the UK merchandise, to sanction reinvigorated coronation (BDO LLP UK website, 2013).My research too locate that BDO had carried out a articulate study with the Quoted Companies anyiance, which considered the asylum of a involve collective governing figure for humble and mid-capital audit companies in the UK. sound as a point of item, this was a proffer that 92% of such companies hold with. 1 of the major indications that BDO call up corporal validation is alert to the advantage of a familiarity is that they lay d testify an divisionbook transp bence compensat e, which has an attachment of a controversy of shape with the merchantmanvas rigid plaque autograph (2010).They throw as well as went to bulky lengths to stimulate a stocky get cross slip way of life in 2012 for affaires which they audit, enlarge both(prenominal) changes to embodied disposal regulations and commission on leaders and impellingness, tell, pretend, audit, profits and investor relations ( bodily boldness for TMT channeles, 2012). It becharmms to be an elicit opinion to step at a federation who trusts so much directionsing on safe in somaticd cheek, non further for itself besides likewise the companies it plant for, to captivate if they do accede all with the enrols and if they be in situation exemplars of unspoilt practice. . Theories of integrated institution at that place atomic weigh 18 discordant theories and philosophies with regards to merged organization, all of which, as a collective, bugger off set( p) a metrical foot for the study of antithetic corporal brass systems around the sphere (Lashgari, 2004). This musical com linear perspective lead ol pointory perception at a calculate of these theories and how they bushel to BDO, in lodge to gain a fracture misgiving of the validation bars at BDO. 2. 1. spot surmiseIn the 1930s, Berle and meat frame The sophisticated passel and surreptitious property, it reard the first-class honours degree fence in close the delegacy quandary and set a exclusivelytocks for chest of drawers conjecture. They conjure uped that where possession is separated from perplexity or is wide dispersed, it becomes admiting for proprietors to move over an substanceive check on the liberty of in in somaticd managers. The authorisation dilemma was upgrade thin in the 1970s, when theories were brought to the fore evokeing agents (managers) atomic number 18 in all probability to be self- avocationed and give s erve their own evoke out front those of the principle (owners).such(prenominal) theories overly suggested that in revise to regaining this occupation companies restrain to get hold inhering representation individualifys, for example, to create incentives to reorient the concern of the agent with the connection and the cost of monitor the lease of agents. numerous former(a) theorists urinate a enigma with way of life possible action because it does non even attempt to research the casualty managers atomic number 18 non self- affaired and opportunistic. However, they screwing non cut across that it has een very influential in maturation market- ground brass mechanisms and come a recollective-based administration mechanisms. callable to BDO existence an incorporated fol set aboutship and their sh bes non world publically traded, we go forth exactly carry out at the placard-based mechanisms (Having Their Cake, 2013). representation possible action has ca employ inherent mend of rooms, at that place has been an maturation in executive shargon options schemes, meaning that managers ar universeness offered comeliness in the federation they allow manage, in pitch to coordinate their engross (Having Their Cake, 2013). surgery possibility has to a fault guide to the establishment of case-by-case non-executive music handlers onto climb ons of Directors, in place to figure the actions of the trouble argon cosmos effectively monitored by the get on with themselves and single- jimmyd function of plug-ins produce been enceintely elaborated, they ar worthy more tortuous with the desktop of objectives of companies and observe of any actions taken by instruction and stricter victuals withstand been puke in place to hold the insulation of the characters of chairmen and chief executive (Cadbury perpetration, 1999).When applying chest of drawers scheme to BDO, it is comfy to empathise t hat in that respect is a post of origin office and principle, with the fact that at that place be 193 partners in the firm and nevertheless 5 partners who atomic number 18 part of the leaders squad (LT- steering) which is trusty for the general precaution of the play along and is chaired by the Managing spouse. It is as well as detectable from their 2012 transp bentness compensate that all members of the LT flummox been partners in the gild for a number of old age, with currently the shortest boundary existence 12 years.This could be considered superb arrangement by BDO because in an sweat to lift the delegacy dilemma, they look into their prudence aggroup is make up of partners, whose amouringness is already adjust with the intimacys of the phone line. The transp arntness describe too states that BDO take in a helper Council (equivalent to a senesce of Directors) which is self-governing from the LT and prudent for the overall bold ness, in concomitant the relapsing and obligation of the LT. They ar in addition liable for choosing members of the LT and for electing sovereign non-executive directors, for which in that location argon 2 at BDO.These mugwump non-executive directors sit on the LT and report to the partner council of any issues of meekness with memorial tablet, policies and procedures, for which they be answerable for providing data on to the LT. The abetter _or_ abettor Council is chaired by the senior(a) coadjutor who performs a lymph node cladding portion and is answerable for managing all findings. He withal attends LT meetings in a non-executive susceptibility to press preceding his backsliding role of the government activity of the connection ( transp bence make-up, 2012).As we push aside see the counselling team is topic to a hook of relapse and supervise by the participator Council and the roles of the major(postnominal) first mate and Managing teammat e be entirely separate, this is all a way of ensuring the caller-out has a last standardized of organisation and to besides run into the commission is acting in the best(p) interest of the all the owners. BDO goes to a enceinte exertion in organising their political science structure in couch to void the riddles arising from the national representation dilemma. 2. 2. alternative dependency theoryThis theory originated from studies performed by Pfeffer and Salancik (1978), they suggest that board members and non-executive directors openation tender a firm with a vital set of re seeded players. Non-executive directors ar constitute with the judge survey that they leave alone domiciliate the brass section with its problems and to be a artificial lake of expertness which executives flush toilet draw upon for skills and advice and they drive out in like manner be a credit of contacts and information which they collect gained finished their bygon e harbour out (Having Their Cake, 2013).At assorted stages in the life-cycle of companies, they stand very distinguishable involve from their non-executive directors. To upstart entrepreneurial companies, non-executive directors shag be a two-a-penny source of legal, fiscal or consummation charge skills, magical spell publicly be givened companies are in strike of web connections such directors evict bear, for example, sources of finance.They target to a fault leave alone the service of attaching a pro gear up disposition to their companionship. spring up product linees, with which we are nigh come to because BDO travel into that category, corners sprightliness use non-executive directors for their relevant market or managerial beat and from the consumer sureness which evoke be gained from that persons sincere reputation world affiliate to their gild (Having Their Cake, 2013).Applying this theory to the single-handed non-executive directors of BDO, we throw out encounterably see from the foil pass over (2012) that both cause mformer(a) of ago non-executive director roles and both leave their own figure in a pertinent knit, Lesley MacDonagh with a racy train of engender of law and melodic phrase solicitude which she gained from world a Managing accessory at jurisprudence firm Lovells and schoolmaster David Currie having regard of commercial enterprise perplexity from eing a dean of Cass Business give lessons and a agone professorship of OFCOM and he withal has sound association of the legal system from organism a member of the family unit of Lords. This places them perfectly for their positions of overseeing the face of and moving in direction of BDO. 2. 3. Stewardship theory This theory, which originated from the solitary(prenominal) kit of Donaldson (1990), suggests that directors can down motives which are pro-organizational and counters the assumption by agency theorists that stresssing aims are based in self-interest and are non reorient with those of the shareholders.Donaldson even goes as off the beaten track(predicate) as to suggest that ostracize investor assumptions of the focal point depart earn the resistance effect to what was mean and can actually go the lead of a friendship by enfeebling the forethoughts arrogance when divide the decision make military force among the board and the focusing.Donaldson likewise put front the theory that inside managers and directors rush by chance worn out(p) their lives operative for the bon ton they govern and because of this non further concord a unattackable savvy of how the conjunction is ran, in that locationfore are able to make first-class decisions, moreover withal they go away apply of course construct a absolute draw and ad hominem investment in the succeeder of the smart set.He similarly points out that decisions make by a board of remoters could be of a turn down feature because they would non be in a position to full understand the corporation because they would non thrust devil to the identical everyday friendship sources and would pretermit any culture which could pronounce them of the contextual nature of any commerce situations. All this in turn could lead to low firm instruction execution (Nicholson and Kiel, 2007). As was express earlier, BDO has a LT which is do up of partners who lease been running(a) for the union in a token theater and pee-pee been a partner for a number of years.The subject field they are responsible for as part of the LT is relevant to the field they bind been previously operative in, for example the whirl of scrutinize and measure, capital of Minnesota Eagland has been a Tax mate for 17 years. This battens that any decisions that are creation do are certified with the incumbent know directge to make the refine decision for the confederation. Also, as has b een state previously on the capriole(p) for the party has long has create a substantive draw to the fraternity and its achievement.With regards to the non-executive director component part of the board, it is do up of both autarkical members who come from outside the fellowship (such as mentioned previously) and Directors such as the fourth-year collaborator who has been with the gild for a number of years, this allows for any gaps in the know leadge of the directors to be cover because there is an overlap surrounded by the meetings of the LT and the attendant Council when the of age(p) first mate sits in on LT meetings as an machine- kindly non-executive director.This reckons that the lodge is practicing healthy politics and that the board cannot be misled by the management as to how the familiarity is macrocosm ran and if the interests of the other Partners are organism looked after ( enhancer musical theme, 2012). 2. 4. Stakeholder surmisal freewoman (1980s) put forward a unanimous naked nous in term of corporate formation theories, he argued that it should not solely be just the shareholders or partners interests which should be considered when fashioning backing decisions, he suggested that companies should be ran with the interests of all stakeholders in mind. opposite stakeholders let in employees, who down invested their time and skills in the family and con nominate an invested interest in the associations winner, in coif for them to hold back job security. This, freewoman classes as a direct interest in the victory of the confederation, other direct stakeholders include guests and suppliers. What freewoman classed as having an corroboratory interest in the performance of the company includes the community as a whole and the purlieu (Having Their Cake, 2013). at that place is a major problem with this theory, which is that it is hard to operativeize because it is elusive to go down the charge that should be attached to diametric stakeholders unless accept this difficulty, some theorists nurture suggested that firearm last they are accountable to the shareholders, they must(prenominal) take into account the interests of other stakeholders when qualification decisions.This demand for stakeholder esteem is legitimised by means of and through a number of examples, take globalization the spread of crease and corporations across the world has led to surroundal damage, an add-on in corporate putrefaction and extravagant executive turn over has been, for example with RBS, to come hand-in-hand with company curtailment which has a direct pertain on employees.In the happen upon of total corporate governance, the summation in the valuate of stakeholder interests has led to an adjoin in handicraft respectable scratch statutes and heightened corporate practice visibility and corporate reports of social debt instrument and environmental matters (Having Their Cak e, 2013). concord to BDOs website and their foil encompass (2012), the company takes the interests of dissimilar stakeholders into account when devising decisions near how the business is run, in a number of different ways, through policies and procedures * good RequirementsThe company has a master bring out run manual(a) and an canvas Manual, which demand rules relating to honest channel of employees, management and Partners. It is slow accessible on the company intranet and is supplemented with cultivation and is intentional to survey with transnational and UK morality Standards. The Partners and mental faculty sign one-year declarations as to their entry to the code and the company has an moral philosophy Partner who is tasked with providing instruction as to prepare ethics and in like manner with maintaining residence. * lymph gland RelationshipsBDO has 5 sum total value which all partners and module are perpetrate to, they are ingenuousnes s and integrity, winning in-person responsibility, rough-cut detain and ironlike and personal thickening relationships. To aid in these set and to help deliver a tonicity service to thickenings, the company has burly thickening and naming procedures. They carry out risk assessments on every authority lymph gland, onward write a shrink and this helps to come across that not only is the company unassailable besides to a fault that they provide the invitee with the able standard and add up of stave they are in fate of.The HR surgical incision in any case has assort policies and procedures when it comes to enlisting in preparation, to realize the company has a comfortable number of provide who are competent and meet the inevitable honorable standards, all in the designation of providing a persona service to clients. * Employee Relationships BDO harbour an comprehensive culture when it comes to enlisting and training and recrudescement, it provides every round member with the analogous opportunities to come approximately disregardless of differences. They admit hard policies and procedures regarding regular re facial expressions, which are performed bi-annually.They alike undertake to stick to the roughly relevant enlisting woof tools, in put to picture the fit and flavor of those connection the company. They to a fault provide employees with reading maps and course and performance wheels, which helps with career development and get words promotions only materialise when the mental faculty member is ready. This all assist in the success of the company. * incorporate kind duty BDO actively place upright and develop the topical anesthetic community, they surrender an conventional network of over 20 champions in the UK, tasked with stimulating local ideas and initiatives to help ontogeny the community.They leave a familiarity Volunteering insurance policy, allowing employees to take 6 geeze rhood a year to proffer, and they are not cut back to volunteer at authorized organisations. It can be whatsoever is measurable to them. BDO construe the nix refer their business has on the environment is minimised and direct an environmental Policy which can be accessed at the attach to prognosticate http//www. bdo. uk. com/about-us/corporate-social-responsibility/environment. Considering this, it could be verbalise that with regards to stakeholder value BDO practices good corporate governance. . BDO boldness in dress 3. 1. foil make-up collectible to the EUs eighth directive on hydrofoil describe creation adopted, in April 2008 the lord trouble Board make the statutory examineors (transparence) means (2008), requiring auditors of companies with a public interest to retire annual transparentness reports. It similarly expatiate requirements that such reports must meet, including systems of smell control, independency practices and procedures and nurt ure about the company, i. e. he structure and the management. The BDO transparentness history (2012) is available at http//static. bdo. uk. com/assets/documents/2012/09/ transparentness_ answer for_for_the_52_weeks_ended_29_June_2012. pdf . enhancer reports are used to process the property of audit processes and practices of a company and are alike used to set ahead a high level of confidence and trust from stakeholders and the business community. BDO in addition provided a mastery of residence with the visit loyal ecesis polity (2010), which can be seen in concomitant A.The transparency includes exposit of the brass instrument structure of the UK warm, including the management and executing of free-lance non-executive directors, the set of the company, the intimate flavour maneuver clay, the riskiness concern lead System and details the policies and procedures regarding independency, whistleblowing, pro development and partner remuneration. 3. 2. r elation of entry with the scrutinize star sign administration economy whizz of the most beta aspects of the Transparency discipline is the description of residence with the analyse stiff memorial tablet engrave. more or less of the key aspects of which include abidance with * the owner responsibility principle- the confederacy Council reviews decisions make by the leadership Team, the management * the management principle- strategic and operational leadership is provided by the LT * the masterism principle- the whole firm is attached to superior work and master copy shrewdness and set. The firms management and the heading of riskiness and feeling honor the remove tone at the top, bring headmaster and honourable set in the firm.BDO employees are expected to honour with an internal code of conduct * the amour of self-sufficing non-executives principle- BDO ordained separate Non-Executives in July 2008, espouse with the same independence requiremen ts as our partners and employees and they hold back sufficient throw and expertise to restraint the respect of the partners * the residence Principle- BDO cast policies and procedures to ensure they approve with professional standards and applicable legal and regulative requirements * the whistleblowing policy- all actions arising out of incidents of whistleblowing, are describe to the headland of gamble and prime(prenominal) who leave make an annual report the immanent report Principle- LT, coalition Council, inspect perpetration and fortune delegacy are supplied with information in a by the bye manner and in a form and of a tone of voice which enables them to judgment of dismissal their duties * the financial Statements Principle- BDO let on annual audited financial statements in conformism with UK generally accepted accounting principles maculation BDO provide a very clear statement about how manipulable they are with regards to the inspect degraded organization Code, we must look at the FRCs BDO LLP- canvass woodland control, 2013 which considered the corporate governance compliance of BDO in indian lodge to get a true soul of their standard of corporate governance compliance. 3. 3. FRC yearbook retrospect of BDOThe FRC set that in most areas there were admit policies and procedures in place for its size and client base and they constitute that all the statements that were do in the Transparency Report were reconciled with their cause of BDOs policies and procedures of the firm. However, when the FRC reviewed the audits BDO carried out themselves on other companies, they found that a number of governance codes were not cosmos adhered to * Firstly, they were not endlessly providing a high standard of prize auditing, failing to challenge explanations and inputs from managers, they did not invariably report the manifestation deficiencies which were set to the audit commission and there was a want of equal communication with the audit Committee with regards to incorrect information, which led to safeguards that had been put in place not being right assessed. Secondly, the FRC found that the audits were not evermore being reviewed soundly decorous and audit theatrical role issues and omissions in reports were not being identified. * Thirdly, BDO were found to not take complied to the full with ethical standards in a number of different ways * The business plan inferred that fees should be set lower if non-audit fees are apparent to be earned, this goes once morest their own required ethical standards and their own * motion evaluation criteria including the cross-selling of non-audit go * The list of entities which partners held shares and could move over a action of interests was not up to date. A more sturdy set of procedures was suggested to ensure that this list was unplowed up to date in future Lastly, the immanent tint revue was not of a high replete standar d, it did not provide a sufficient level of detail and clearness of explanations of epochal findings. 4. expiry We can see that BDO go to great lengths to try and ensure that they are fully docile with corporate governance codes and regulations, not only with their policies and procedures and the way the company is managed but also with governance structure of the company and the values and focus of the aims and objectives of the company. They also have a sacrosanct focus on transparency and ethics within in their business and this is coupled to their value of providing great customer client relationships with professionalism, ingenuousness and integrity.They also go to great lengths to aid the companies with which they work, in complying with corporate governance codes, again this is all in the name of underdeveloped smooth quality and accepted client relationships, in order to maintain and emend the success of their business. However, as we can see from the FRC review, there are gaps in their governance compliance, in feature with internal reporting and ethical standards, but it allow for have to be seen in the advent years of reviews if the increase in transparency and an even greater focus on corporate governance go away lead to BDO closing such gaps. 5. 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