Audit report
ASOS PLC
1. Carry out a background research on your proposed client and obtain as much information as possible about your client in particular and about the market sector which your client operates in.
ASOS originates from or is an abbreviation for “As Seen on Screen” indicating its method of operating business in other words online retailing. It was founded by Nick Robertson and his business partner Quentin Griffiths and it was incorporated in 2000 by its current Chief Executive Officer Nick Robertson and Quentin Griffiths. Its headquarters are in Greater London House in London and has about 441 employees excluding the logistics team which is currently outsourced. It also has offices in Ireland, France and USA. On the 6th of October 2001 ASOS plc was enlisted on the London Stock Exchange under the Alternative Investment Market. ASOS plc is one of the UK’s largest online fashion and beauty retailer offering over 35 000 branded and own label fashion lines across womenswear, menswear, footwear, childrenswear, accessories, jewellery and beauty with over 1500 new product lines introduced each week. It targets the fashion cautious 16-34year olds and it attracts approximately 5.8million unique visitors to its website with 1.2million active customers. With a high sales turnover Asos is rapidly becoming a market leader in online retailing. 80.5% of its turnover is generated in the UK, and the remainder of it throughout the rest of the world. Its turnover has shown a rapid growth with sales almost doubling year by year for instance 2008 revenue was £81.4m while 2009 was £165.4m.
A. What is Asos all about?
Over the past seven years Asos has generated new ideas that have proven successful and managed to set trends within the industry for instance it was the first UK online store to launch a catwalk in 2007. In addition Asos operates a blog or forum called Asos life on its websites were online shopping members even employees can communicate ideas and voice out
1. Carry out a background research on your proposed client and obtain as much information as possible about your client in particular and about the market sector which your client operates in.
ASOS originates from or is an abbreviation for “As Seen on Screen” indicating its method of operating business in other words online retailing. It was founded by Nick Robertson and his business partner Quentin Griffiths and it was incorporated in 2000 by its current Chief Executive Officer Nick Robertson and Quentin Griffiths. Its headquarters are in Greater London House in London and has about 441 employees excluding the logistics team which is currently outsourced. It also has offices in Ireland, France and USA. On the 6th of October 2001 ASOS plc was enlisted on the London Stock Exchange under the Alternative Investment Market. ASOS plc is one of the UK’s largest online fashion and beauty retailer offering over 35 000 branded and own label fashion lines across womenswear, menswear, footwear, childrenswear, accessories, jewellery and beauty with over 1500 new product lines introduced each week. It targets the fashion cautious 16-34year olds and it attracts approximately 5.8million unique visitors to its website with 1.2million active customers. With a high sales turnover Asos is rapidly becoming a market leader in online retailing. 80.5% of its turnover is generated in the UK, and the remainder of it throughout the rest of the world. Its turnover has shown a rapid growth with sales almost doubling year by year for instance 2008 revenue was £81.4m while 2009 was £165.4m.
A. What is Asos all about?
Over the past seven years Asos has generated new ideas that have proven successful and managed to set trends within the industry for instance it was the first UK online store to launch a catwalk in 2007. In addition Asos operates a blog or forum called Asos life on its websites were online shopping members even employees can communicate ideas and voice out