Audit Planning Memo : Risk Assessment

3. Gander, Stephen. (2013). Titled: Reasons Blockbuster Failed at Failing. TIME.com. N.p., Oct. Wide-Web. 10-Dec.

Xander L. is a 17-year-old African American male and documented gang member. His prior juvenile adjudications include purse snatching, breaking and entering, and drug possession. His first juvenile adjudication occurred when he was 13 years old. He has served a year of custody in the juvenile correctional facility and has been placed on probation twice

High risk of huge inventory returns from the distributors if they are not able to sell in reasonable timeframe. This will increase huge sales return in B&L books in the following year.

Occasionally, people use to go out and rent DVD’s to watch a specific movie from rental stores. Advancement in technology has brought a sufficient change in customer’s behaviors, today DVD rental stores have almost gone. Moreover, by time we saw enormous increase in channels being provided by cable providers, but today even that has been replaced by streaming media devices, thus my time, role of cable providers might also disappear due to the introduction of devices such as Netflix, Apple TV etc. “DVD sales have also been hit. The Los Angeles-based Digital Entertainment Group estimates DVD sales in 2008 fell 8% to $21.6 billion from a year earlier, while DVD rentals were flat.” Charny, Ben. "Viewers Tap Free Web Content." Wall Street Journal, Eastern

Retail spending on discs remained strong, indicating that physical and digital formats will continue to coexist in the marketplace. While overall disc unit sales were down 6 percent form the previous year, sales of movies and TV shows on Blu-ray continued to offset the decline in DVD sales. Sales of Blu-ray disc grew by 7 percent and accounted for 20 percent of total disc sales, up from 18 percent the previous year (Consumer Report 2013)

The state of Georgia did not expand Medicaid, and the emergency department continues to face problems with overcrowding. The quality of care is lowered for all patients needing emergency medical services. A lot of the emergency department demand is from patients that could be treated by a primary doctor. The ambulance diversion is when the hospital is over the capacity for the emergency department. However, this problem affects every member of the community, and forces the hospital to send ambulances to other hospitals because of overcrowding issues. The issue of patient boarding, the emergency department holds the patient, even intensive care patients until a bed become available. The overcrowding has caused increased stress on

Consequently employees had to deal with high risk of failure against the complex functions and user related errors ;

The aim of this report is to develop an audit plan using the 2007/2008 annual reports of the WesFarmers. This report will provide an understanding of the underlying concepts of an overall audit strategy. This strategy will bring forward the direction and scope of the WesfFarmers audit plan. This report will address five major points these are as follows:

bebe target is a hip, sexy, sophisticated, body-conscious woman who takes pride in her appearance (bebe, 2010).

There are many different factors in the environment that influence Redbox Automated Retail. These factors include: general business ethics, United States copyright laws, the economic recession, unemployment, increased consumer debt levels, declining consumer confidence and spending, new technological advances, natural disasters, and content acquisition and license agreements. Although the previously listed factors each hold a certain degree of importance, the most relevant factors include new technological advances, content acquisition, and license agreements. The advancement in technology, such as digital access to movies via the internet, allows customers the convenience to access films directly from their home which weakens the consumer demand for DVD’s. Furthermore, content acquisition and licensing arrangements restrict the amount of titles that are available to Redbox resulting in litigation battles with large movie studios.

• Directing appropriate attention to the different areas of the audit such as assessing materiality, so that when the detailed audit plan is prepared, audit procedures can be directed towards the material amounts.

Internet surfing might be at risk in this product as web commenced is in used.

Internal auditing is an independent objective assurance and consulting acitivity designed to add value and improve an organizations operations.

Reviewing Exhibit 1 it is indicative that each year their actual inventory ratio continued to increase as opposed to decreasing. Keeping inventory in stock is good for clients but bad for capital when it remains on the shelves and doesn’t sell as quickly as you are producing it.

The improvement of its operational efficiency through the industrialisation of processes and the pooling of resources The development of internal synergies Attracting talents and developing best practices in terms of management A constant and reinforced vigilance on risk control