The interviewer discuss and important issue and observe everyone's opinion about it. The focus is on the group discussion and the outcome of that discussion (Foxall, 1981)
Retail and wholesale industry are usually of high importance that give shipment to the vendor and do not have direct interaction with the customers. Suppliers have direct impact on the customers (Hayes, Dassen, Schilder, & Wallage, 2005)
A detailed description of them is as under: Microenvironment: Micro environmental factors are the internal factors of the company that have a direct impact on the Wal-Mart's business operation. The company has control over these factors and by controlling these factors; the company can improve its performance (McDonald & Leppard, 1994) 1
Financer for the research can be the shareholders of the company who want to do the performance analysis of Wal-Mart. The marketing research plan should be budget-focused and cost minimizing (Nijssen & Frambach, 2000)
Marketing Audit A market research plan is the systematic study that deals with the gathering and analysis of the concerned data to assess the role of a certain company in the market and persuade the customers to by their products. Marketing research assist the companies to design better strategies for future with respect to customer behavior (Pickett, 2010)
Linda Dwyer writes that text-to-speech readers are not generally available "outside of the disability community and may be prohibitively expensive when obtainable." (Dwyer, nd, p
Perhaps the most important for Qantas is the test of controls, whereby four major activities are undertaken. Those activities are to make inquiries of appropriate client personnel, to inspect documents, records and repots, to observe control-related activities and to re-perform client procedures (Arens, Elder & Beasley, 2008)
They state that global competition for the best minds and best performers has necessitated raising the bar. When these same people are crafting executive compensation packages and there is even a hint of transparency and ethical behavior being limited in any way, even if it is just perceived and not proven, this can cause a lot of bad blood and feelings to bubble up both within the firm and outside of it and the latter will include stockholders, stakeholders and other interest groups such as pro-union forces, income equality voices and so forth (Kelly, 2014)
As proven by the events and actions of 9/11 in the United States as well as the recent apparent pilot-led hijacking of the Malaysia plane that is still missing, threats can come from outside and within. This would necessitate that Qantas is very clear about the security measures they take to prevent attacks from terrorists or other external people as well as background checks and certifications of the abilities and reputations of the pilots and other professionals that ensure the safety of the plane from terrorism (Ross, 2011)
Qantas is facing a high amount audit-related risk due to the maelstroms of inequality and executive pay all seemingly converging at the same point. Nationalism is also a factor in the Qantas profit/loss and executive pay situation as there is currently a moratorium on foreign ownership going above one half and there is talks of that being lifted (Swallow & Rajca, 2014)
Initial and Ongoing Reviews This organization fully understands that initial and on-going reviews is one of the most important ways to establish accountability. Ongoing reviews can help to maintain project timing, keeping things on schedule, but can also prevent large mistakes that fundamentally take longer time to fix and which will have to be corrected later (Baker, 2010)
"The acquisition of such sub-specialty knowledge in regulated industries takes time and is gained through extensive exposure to clients in that industry. This difference was hypothesized to result in significance performance gains only in a regulated industry setting when comparing industry-specialist and non-specialist auditors with matched industry-based experience" (Arnold, 2008)
Greed is dangerous because it not only wreaks financial Armageddon, it also causes human devastation. For example, "Jeremy Friehling, the 23-year-old son of Bernard Madoff's former auditor, David Friehling, has died of an apparently self-inflicted gunshot wound" (Cohn, 2012)
However, one of the clear disadvantages to working with many large clients that all participate in the same industry, is that making one mistake can often lead to repeated mistakes with different clients in the same industry. In the example of KPGM and the scandal at New Century, the examiners found that KPGM's audits had not been conducted prudently and were not engaged in professional standards (Duska et al
Friehling 'helped foster the illusion that Mr. Madoff legitimately invested his clients' money.'" (Efrati, 2009)
Their "experience" in the mortgage industry still did not prepare them for a company such as this one, and could only give them a false sense of confidence that they could handle such an audit, when it reality, they were not at all equipped. For example, one of the mistakes that KPGM made was that it did not catch that the Interest Recapture was missing from the repurchase reserve calculation (Knapp, 2010)
For example, on the death of Mark Madoff, the 46-year-old son of Bernie Madoff, "Every day for two years, he carried the toxic burden of a name that meant fraud to the world. On Saturday, the eldest son of disgraced financier Bernard Madoff hanged himself in his Manhattan apartment, another casualty in the saga that sent his father to prison and swindled thousands of their life savings" (Long & Hays, 2010)
One to be underscored for auditors is the paramount importance of understanding the company's business and industry to identify signi-can't business risks that increase the risk of material misstatements in the ?nancial statements. Without that understanding, it will be almost impossible to identify the next Enron" (McLean, 2001)
S. General Accounting Office (GAO) in 2008 also acknowledges the importance of industry expertise, noting that 'a firm with industry expertise may exploit its specialization by developing and marketing audit-related services which are specific to clients in the industry and provide a higher level of assurance" (Minutti-Meza, 2010)
The auditor needs to handle this duty in a multi-faceted approach. The auditor has the obligation to keep a list of identified misstatements and pinpointed control deficiencies, weaknesses and oddities for further review (Rittenburg et al