Module 3 – THE Root cause of the economic collapse


Module 3 – Intangible Assets – THE Root cause of the economic collapse

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A report from the Reserve Bank of Australia Bulletin February 1995 analyses the collapse of Barings Bank, thanks to the reckless actions of Nick Leeson. The Board of Banking Supervision concluded that the failings at Barings could not be attributed to the complexity of the business carried out within BFS (Baring Futures [Singapore]) but were primarily a failure on the part of a number of individuals within the Barings Group to do their jobs properly.

Book extract

The Reserve Bank of Australia report, I would rather say, is one of those “Read, Laughed and Filed Code’. The report however states ‘were primarily a failure on the part of a number of individuals within the Barings Group to do their jobs properly’. That was in 1995. okay so be it, then what would you write for the 2008 economic collapse?

Module 3 highlights the importance of professionalism, in all sectors and the lack of it as the primary factor.


Module 3 – Intangible Assets – the Root cause of the economic collapse – the instinctive reaction is to pinpoint the finger to the object – the intangible assets and the finger disappears when the blamed object is found as the reason. Carl Sagan says we make our world significant by the courage of our questions and the depth of our answers. Yes, but what we lack is the depth of our answers – bring abstractions to reality.

IASB/IFRS serves the accounting profession admirably for several decades. Should I4.0 The Fourth Industrial Revolution succeed similar Boards are needed for all professions.

Module 3: The Takeaways

1. What You Will Learn, 2. Skills You Will Gain, 3. About This Specialization, 4. Course Assessment, 5. After Completion Of This Module You Will Be Able To: 6. The time Required For This Module 3 Is:


Module 3 – The Main lecture – The Root Cause of economic collapse

Further reading materials, in addition to the lecture above on Module 3 – CREAM Ratings Intangible Assets, The Root of economic collapse would assist individuals to 1. What you will learn, 2. Skills you will gain, 3. About this specialization – Professionalism to the core, 4. Course Assessment – Write a report and submit for evaluation, 5. After completion of the Module confirmation of what you would be able to accomplish and 6. Time suggested for this Module 3 Intangible Assets, The Root of economic collapse, as part of Project ELITE – Education, Learning, Implementation, Training, Execution.

Further reading materials include 1. Chapter 3 – Intangible Assets from the Book and 2. 170 open-ended Process Blocks.

There are 9 Modules under E&L, where individuals on successful completion would be CREAM Ratings Certified Professionals that would carry them through Implementation, Training, and Execution for the organizations they would take part – as an employee, as a consultant, as an owner, as a member of the board of directors, as an independent director, as a stakeholder, as an Auditor, as a banker covering entire gamut of stakeholders with Society topping the list.

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“The nitrogen in our DNA, the calcium in our teeth, the iron in our blood, the carbon in our apple pies were made in the interiors of collapsing stars. We are made of star-stuff,”

Carl Sagan

Two aspects of I4.0 the Fourth Industrial Revolution.

  1. Advanced Digital Tech
  2. Societal Changes
  3. The audit profession as practiced today ex-post-facto framework will be wiped out completely.
  4. CREAM Ratings certified professionals, from any field, will have the capability to record and measure societal changes for I4.0, a crucial aspect of Corporate Management Operating Systems.

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