Issues in Contemporary Auditing Essay Example | Topics and Well Written Essays - 3250 words

Issues in Contemporary Auditing - Essay Example The aspect of financial transaction record would be quite vital to be thoroughly examined in the process. It has been revealed that Hammerson plc upholds proper financial statement by following the guidelines of Companies Act 1985 which depicts true and fair values that facilitate the company to maintain accurate financial records. Additionally, an audit report of the company is also conducted by following the guidelines of the International Standard on Auditing (ISA) which is authorized by the International Auditing and Assurance Standards Board (IAASB). Moreover, while preparing an audit report, Hammerson also utilizes various financial transaction tests that facilitate it to identify the valuation of assets and liabilities which are essential to be considered. The Audit Committee should also note that Hammerson takes the responsibility for protecting the assets of the company along with safeguarding them from the hand of fraud, error, and non-compliance by adhering to the laws and regulations which are mentioned in Companies Act 1985 under Section 389(A). The company also provides other financial services under the Financial Services Act 1986. Compensation which will be due for the provided service to Hammerson can be calculated on the basis of the times which are spent by your partners and also on the basis of skills and responsibilities that are involved amid your staff. The scope of the audit will be to make a comprehensive evaluation of the books of account in order to ascertain the validity and reliability of the published materials of the company. Our company shall be highly obliged if you can confirm your agreement or engagement by singing and returning the enclosed copy of this letter. Thanks & Regards Yours faithfully Manager Loughran and Shrives Chartered Accountants B. Ethical Issues Leaflet Interdependence is one of the fundamental as well as considerable aspects while preparing an audit report. In order to maintain suitable ethical standards in an audit report, it is essential for the auditors to be independent in terms of mental attitude while dealing with their respective clients. The users of the financial statement are primarily concerned about the aspect that the auditors should not compromise with their interdependencies by considering the viewpoints of the clients during the preparation of an audit report. Truthfulness, honesty, integrity, confidentiality and professional behavior are the most essential aspects for the auditors in order to maintain ethical standards and also bring transparency while preparing an audit report. It is also necessary for the audit firms to maintain similar kinds of rules and regulations while preparing an audit report for their respective stakeholders.  

The Role of Loyalty Scheme In Selling Directly to the Customer Research Paper

The Role of Loyalty Scheme In Selling Directly to the Customer - Research Paper Example 3. Identifying the other marketing tools that can be used as alternatives of loyalty schemes and comparing the effectiveness of them. Answers of the three major research questions are likely to meet the above mentioned objectives to a great extent. The entire research process including the search for literature and collection of primary data will be carried out keeping these three questions and objectives in mind. Literature Review Literature review will be the backbone of this research. It will be containing the theoretical aspects of the subject. The focus of this section will be on the main theories behind the emergence of loyalty programs. The literature regarding the history and background of several of such programs will be properly identified and explained in this section. The section will also include the description regarding the way in which consumer behavior is influenced by the loyalty schemes. A preliminary study shows that the loyalty schemes have been very effective du ring the last two-three years especially during the period of recession (Marketing Clout, 2010). They have helped the organizations in retaining their key customers and thereby improving the brand equity. Over the past decade retail industry in UK has become more competitive. Major players now, look for innovative strategies regarding relationship marketing for increasing their sales and maintaining the existing customer base (Stone, M. et al. 2003). Loyalty schemes are actually the result of intense competition among the retailers. This research will try to find out the theoretical aspect behind such outcomes. Furthermore, many consider loyalty schemes as the tool of direct marketing or relationship marketing. Literature... Literature review will be the backbone of this research. It will be containing the theoretical aspects of the subject. The focus of this section will be on the main theories behind the emergence of loyalty programs. The literature regarding the history and background of several of such programs will be properly identified and explained in this section. The section will also include the description regarding the way in which consumer behavior is influenced by the loyalty schemes. The author of the paper declares that the relationship between the brand image and loyalty schemes will be explained in the literature review section. The data required regarding the literature will be collected from various secondary sources like books, journal articles and research papers that are prepared in the past. Both physical and online libraries will be used for accessing these sources. Considering the nature of the data, qualitative analysis will be conducted. This research proposal is developed with the objective of providing a clear overview regarding the actual research that will be carried out very soon. Three major research questions along with the objectives are properly defined in this proposal. The literature searching process in the actual research will involve secondary research. Literatures regarding loyalty schemes and related aspects of marketing and branding will be mainly searched from various books and journals. Focus group interview will be conducted for gathering the primary data.