Consumer Boycotts

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate (Louwers & Reynolds, 2007). We believe that the audit evidence obtained is sufficient and appropriate to provide a reasonable basis for our opinions.

Is the coop member’s lawsuit “based on” the boycott or based on the violation of the co-op bylaws?

When it comes to a boycott that relies on culture, would you think it works and succeeds? The answer simply is no. A boycott that depends on a culture does not work and succeed due to the fragile foundation it bases on; culture. Usually, the consumer cares about two things at marketplace when they do shopping: the commodity quality and the price. The consumer always seeks high quality products, and affordable prices. However, the consumer does not care about the personality and the identity of the producer that makes the commodities he buys. The client does not worry for example if the lingerie he wears produced by homosexual, lesbian, gay, or bisexual person. Second, the customer does not think about the shoes he wears if produced by niggers,

People in developing countries, like Bangladesh, need jobs and, therefore, do not want to boycott theirs even thoughmanagement profoundly exploits them for cheap labor. Each day in Bangladesh four million people endure arduous labor to make products exported to numerous countries, only to earn 2% of the cost. O’Rourke Group Partners reported for a $14 shirt, made in Bangladesh, that cost the retailer $5.67, an employee makes 12 cents (Westwood

Although there are specific complications associated with each issue addressed by an ethical consumer, none of it can be done without some cost to the individual. Therefore, a consumer must balance their behavior with their own needs and desires against that of the other and come to an action that is bearable in its restrictions. Some ethical consumers are not fully capable of dealing with complex issues or large amounts of information, but still have the desire to attempt to do their part. There are many ways consumers can utilize their money to influence change in today’s world. One example is to support local farmer’s markets. The numerous food scares of the last decade have indirectly encouraged the environmental side of the ethical consumer to shop locally. Another example is to shop at small business instead of large corporations. Privately owned companies operate without the overhead of a large company. A manager at a large corporation must answer to shareholders, but a small business owner can make the decision to “diminish profit in order to enhance social welfare.” (Karnani 4). While writing to companies, speaking to managers, or attending conferences can attribute change in the world, some consumers are willing to commit to more extravagant acts, such as boycotts and public protests. There are several nonprofit organizations that can assist with large protests or consumer boycotts. PETA (People for the Ethical Treatment of Animals), ERA (Equal Rights Amendment), and EPA (Environmental Protection Agency) are just a few of the groups that can make effective changes to unethical behaviors in large corporations. Whether an act is small or extravagant, a consumer can influence companies to do the right thing when producing a

Research on SEC Enforcement Actions (1987-1997) by Beasley, Carcello and Hermanson concurred with this assessment, indicating that 60% of the enforcement actions were related to a lack of professional skepticism (AICPA 2000). and that "people failure" is the most common cause of audit failures (Choo and Tan 1998). In response to the SEC 's concern about the quality of financial audits, the Public Oversight Board established a panel that recommends recommended to audit firms that they provide guidance to their audit personnel about the concept of professional skepticism (POB 2000). Thus, understanding the role of professional skepticism in workpaper review may provide important insight into a recognized problem within the audit profession.

This paper contains the summary of the details and results of the audit tests on

One recent example would be a boycott of major retailers such as Gap, Walmart, and Primark (European retailer) after the Rana Plaza garment factory in Dhaka, Bangladesh collapsed as a result of poor safety regulations on the building’s engineering and killed 1127 people in Dhaka, Bangladesh. In addition to this specific incident, there were numerous other similar cases in Bangladesh before this one on May 13, 2013; as a whole, these raised concerns over the building safety regulations in place in the many garment factories in Bangladesh, though the one in Dhaka, likely due to its greater media coverage and exponentially larger size, was what sparked the boycotts. Of course, this raises the question of why people boycotted the retailers mentioned above; both Gap and Walmart, along with many European retailers, bought clothes produced in these factories, and those in support of improved conditions for those working in Bangladesh did not want to damage native efforts or cause the companies operating the factories to leave, which would have created a massive amount of unemployment, thus the lack of a major boycott of Bangladesh goods themselves; the idea was that by pressuring the retailers themselves, the

It is obvious for people with basic sense of right and wrong to see the misdemeanors of consumer boycotts in that period. The explanation is that those “effectiveness” and “success” of boycotters were shielded by the loops in legal system. The good side is that the Supreme Court is in continuous effort to make the “game” more fair with much attention directed at secondary boycotts. “For example, Taft-Hartley Act of 1947 barred secondary boycotts, viewing them as unfair labor practices. The prohibitions were continued by the Landrum-Griffin Act of 1959, which outlawed secondary boycotts considered to be

The night of the presentation I was nervous. At the end of the presentation I was very happy with the results. Some of my group members recommended that I give more eye contact when presenting. One of the members said half of my body was turned towards the class as the other half was turned towards looking at slides. One important critique from students was I did not introduce myself. Like the professor said in a business situation you want everyone to know your name and your competence. I also liked that the professor said think news broadcast’s rather than magazines. Another critique from students was I did not have enough eye contact. Eye contact is very important in the business world. I would like to improve on my consistency. During the presentation I was giving eye contact and then I was looking at the slides and was not. I would like to be more consistent in the future so my presentations can come off more effective to the audience.

All of the researches mentioned above focus on developed economies, where audit markets have similar characteristics: audit markets are mature and oligopolistic; audit markets operate under stable policy and regulation. However, things might be different in China, a developing economy, due to the imperfect regulation and a highly competitive audit market, where top ten audit firms are only in charge of 30% listed companies during 2005-2007, while big 8 audit firms dominated the audit market in developed economies in the same period (Li et al., 2005; Wang et al., 2008).

Article 1-Seeking a Path Forward on Audit Quality Indicators – Audit Committees Play a Vital Role in Ensuring Audit Quality

As of now, the only prevalent form of enforcement is the amount instilled by the auditors themselves. Government plays a big role in deciding who is allowed into the country to investigate, but as far as auditor regulation, the litigious environment is much less prevalent than the one seen in the US. It’s believed that punishment such as warnings, minor fines, or license revocation is enough to regulate the industry. A better deterrent against company management’s grip on auditors, as well as their attempt to manage earnings, is auditor reputation, when compared to the minor governmental sanctions (Du, Ronen & Ye, 2015). No matter the environment, if an auditor gets in trouble it reflects poorly on them and their work. The auditing industry is highly publicized because of the importance of the task, and as soon as something goes wrong the public is informed and knows what parties were

To cite this document: Rocco R. Vanasco, Clifford R. Skousen, Richard L. Jenson, (2001),"Audit evidence: the US standards and landmark cases", Managerial Auditing Journal, Vol. 16 Iss: 4 pp. 207 - 214 Permanent link to this document: http://dx.doi.org/10.1108/02686900110389151 Downloaded on: 30-04-2012 References: This document contains references to 45 other documents To copy this document: permissions@emeraldinsight.com This document has been downloaded 2787 times.

Boycott of Nike, Walmart, and other retailers for allegedly manufacturing goods under abusive working conditions in developing countries can also be highlighted in this context.