Freight Forwarders can act as either a Principal or Agent. Describe in your own words the differences between each. Under what circumstances might a Freight Forwarder want to act as either a Principal or Agent? When Freight Forwarders act as principal‚ they assume all responsibility and liability for the pick-up‚ handling‚ transporting and delivery of the shipment as a regular common carrier would. Their name is on the BOL. When a Freight Forwarder acts as an agent‚ their liability ends once
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Airbus 380 launch Case (2757 11 ) The task environment includes sectors with which the organization interacts directly and that have a direct impact on the organization’s ability to achieve .... mc donalds business report (1912 8 ) .... To have a clear picture of McDonald’s corporation we need to look at its Task Environment‚ which includes its: We shall also explore McDonald’s Workforce .... Chinese supermarket in UK (2916 12 ) .... strategies are pursued. We usually analysis two
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AUDIT FAILURE OF WORLDCOM Group 1 Background • WorldCom‚ first named LDDS (Long Distance Discount Services)‚ grew largely by aggressively acquiring other telecommunications companies in 1990s. • For a time‚ it was the United State’s second largest long distance phone company (after AT&T). Background However‚ the year 2002 comes… • In March‚ the SEC began to investigate WorldCom as it reported large profit while AT&T reported loss. • In May‚ Arthur Anderson was replaced by KPMG
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Audit Process Typically an audit flows through a series of logical steps culminating in the ‘Audit Report’. Background Research Preparation of the Audit Plan Accounting Systems review Internal Control System review Substantive Testing Analytical review techniques Analytical review of financial statements Preparation and signing of the Audit Report Background Research 1. Present condition and future prospects for the industry 2. History‚ present and future prospects
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Overview of Audit Closure & Reporting The audit report should serve the fundamental purpose of informing‚ persuading‚ & getting the desired improvements implemented. ◆ Inform the audience with required background‚ evidence‚ and conclusions of the issues. ◆ Persuade the audience on the impact of risks & concerns on the business in case adequate mitigation / control measures are not implemented. ◆ Obtain feedback from the management in the form of agreed corrective action plan with target
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Delima Enterprise Sdn Bhd (DESB) founded in 1981 by Encik Zayed. It conducted trading and supplying related products including manpower supplies to the oil and gas industries. The husband and wife which are Encik Zayed and Puan Hashimah were the two principal shareholders and controlling directors for the company. The company expands into provision of engineering services as part of their business diversification and expansion plans. The company had maintained a very lean organization with basic functional
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marketing audit is not unlike a financial audit in that it helps the organisations to examine progress or lack of process towards the goals. A marketing audit is an evaluation of the marketing within an organisation to see if their strategies in place are effective within the marketing environment. There is an “internal and external” form of audits. The internal audit assists with considering the effectiveness of the marketing strategies in place at the time of the audit. The “external” audit considers
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Martin Townsend | 1204260 Picnic Audit ADV231 Social Media 20.01.2014 Word Count: 2331 Martin Townsend | 1204260 Picnic Audit | ADV231Social Media | 20.01.2014 It is easy for branded businesses to get social media interaction‚ with their loyal customers‚ which they
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Nevertheless‚ some students may have issues a “qualified” report for some perceived reason. If so‚ it should use the wording specified in audit guide‚ although most probably will not use the exact wording specified. If not‚ this will provide you with an opportunity to explain to the student why the specified report wording is critical to an auditor. An unqualified audit report on the City of Smithville should appear as follows: The Honorable Mayor‚ City Council‚ and City Manager‚ City of Smithville We
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Chapter 1 – The demand for an Auditing and Assurance Profession Key Services for Public Accounting Firms Audits High Assurance (95% - 99%) Reviews Moderate Assurance (60% - 70%) Compilation Low to No Assurance (0% - 10%) Assurance Engagements (Triangle diagram based on the subject matter at hand) Practitioner (Auditor) Users Accountable Party (Management) Practitioners give the Users a written conclusion Accountable party must have an accountability relationship with the Users
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