Flyjet Company Essay

At the present time, the airline industry faces many cost pressures. The industry has made remarkable achievements in improving its efficiency. But cost pressures continue, from record high fuel prices to unjustified increases in charges from monopolistic airports, to further taxes imposed by governments (industryspotlight.org.uk). Higher costs inevitably lead to higher prices for airline passengers. Aviation is vital part of the United Kingdom. It is not only crucial in sponsoring almost 1 million jobs and £50 billion of GDP, providing around £8.7 billion in taxes to the Treasury of the country, but aviation is also fundamental to the success of economic benefits from air transport in the United Kingdom (Roberts-Hughes, 2014). Aviation supports exports, services, manufacturing, foreign direct investment and of course tourism. This sector gives us opportunity for the holidays and visits of family and friend in different parts of a country and also around the world.

To conduct the audit, the firm must acquire sufficient understanding of the internal control processes to help determine the nature and timing of the audit. However, the audit is not designed to identify deficiencies in internal control or provide assurance. The firm will make the audit committee aware of any significant deficiencies that come to Anderson, Olds, and Watershed’s attention during the audit.

Auditors have the responsibilities as well as management to report internal controls. The auditors must examine closely management’s claim of effectiveness and also physically test the controls. After the examination, the auditors should express their opinion and any recommendations to fix any internal control weaknesses.

Flight Centre founded by Graham Turner in 1981. Flight Centres vision is ‘To be the world’s most exciting travel company, delivering an amazing experience to our people customers and partners. Well haven’t they achieved this, having won market global market share.

1. Describe the various promotion elements that Southwest Airlines uses in its integrated marketing communications.

Airborne Express the current underdog in the express mail business has been able to compete with market leaders due to innovation and optimization strategy. The company built on cutting cost and emphasizing reliability now faces pressure from the leaders UPS and FedEx to change their pricing strategy. This change from standard rate pricing to distance-based pricing puts Airborne in a dilemma in which they must choose to match the competition which will make them lose what sets them apart in the market or stay with the current strategy. Changing will increase their flexibility and could open them up to new consumers while staying the same

Air travel today is challenging, to say the least. Travelers using commercial airlines face multiple challenges, airline schedules, getting to and from airports, lost bags, cramped seating, flight cancellations, and the list goes on and on. For those travelers with the means and vision, a better way exists, a private jet from Cessna. Known as the Citation and named after the famed Triple Crown winning stallion. The Citation line of private jets offers its owners the opportunity to remove virtually all hassle associated with commercial air travel. Once you experienced it, you will know the Cessna Citation is the best way to fly!

3 pillars of effective internal audit services- independence and objectivitiy, proficiency, and due professional care.

The needs of the public often form into an opinion which can change the way an industry advances its technology for the benefit of all. This can be shown in the airline industry where the need for the latest technological advances is a must have for consumer satisfaction. This is true not only for consumers, but for others who are indirectly or directly affected by the airline industry. This kind of consumer driven change can be seen in one of the newest models of aircraft, the Boeing 787-9, or Dreamliner. The new 787-9 has benefits demanded by the public and implemented for the public. Specifically, the aircraft has newly designed engines by Rolls Royce called the Trent 1000’s. With these new engines, the aircraft is now one of the most

Internal auditors cannot effectively provide an analysis on the company’s internal dealings as they are part of the company. External auditors, however, can observe these processes from the outside and then determine where the funds of the company and whether the dealings adhere to the regulations. Using external auditors in a company prevents conflict of interest from happening. Conflict of interest is a situation where an individual or organization has multiple interests and of those multiple interests, one could possible corrupt the motivation for an act on the other when the auditor has any kind of beneficial interest in their client’s performance. In other circumstances, there is also the threat of familiarity where auditors become

The internal auditor have a several roles in the company which is the first one the audit committee need to discharge and restrict the governance responsibilities and the

8. Internal and external information: board members and senior executives didn’t receive internal and external information from accounting and other information system to make informed and timely decisions. Internal auditor was asked to investigate on Nick’s case but she didn’t get

The lack of independence for external auditors will lead to the neglect of auditing risks (William R.K., 2003), which are the main reasons for the failure of certified accountants and professional accounting organizations. The consequence of the external auditors deprived of independence would be very serious. And there are many cases, which aroused by the failure of external auditors and most are related to the lack of independence. One famous example is the bankruptcy of Enron and the role played by its external auditor, Arthur Andersen (Todd, S., 2003). Arthur Andersen was once one of the biggest accounting companies in the world, and was canceled for the involvement in the Enron bankruptcy scandal.

Abstract: Competition today is one of the major threats to an airline industry. Competitive advantage therefore can be achieved by establishing cost leadership. The ultimate challenge faced by any company would be to leverage between the escalating operational costs and falling revenues so as to maximise the profits. Determine the costing procedure of an airline industry and the various possible efforts it takes to reduce the costs. The airline industry employs a trend and horizontal analysis to evaluate its performance and productivity. This industry can be categorised into international, national, regional and cargo operations. The major costs incurred by the airline industry are weather costs, fuel

To permit maintenance of an independent and objective mental attitude necessary in rendering reports, all internal audit activities will remain free of influence by any element in the organization. This freedom from influence includes matters of audit selection, scope, procedures, frequency, timing, or report content. Internal Auditors will perform their duties in such a manner that they believe in their work product and that no audit quality compromises are made. Internal Auditors may not subordinate judgment related to their audit duties to anyone.