Strategic Assignment

The legal dimension of the general environment can impact the business operation, for example if a government introduces the law of increasing the minimum wage this can lead to an increase in the business expenses as it will obliged to pay more to the employees.

Special Skills: List any job-related skills or qualifications that support your application for this position.

Due to increasing economic and financial growth, many types of audit have been incorporated throughout the development process of internal activities. Audits can be performed manually or they can incorporate technology. According to Hunton and

All American businesses are affected by the legal and regulatory environment set forth by our government. Businesses have both benefited and been affected from government action to place rules and regulations on businesses while there some laws in place to support American workers and consumers. “The policies and practices of government bodies also establish an overall level of support for businesses operating within their jurisdictions. Taxation, fees, efforts to coordinate multiple regulatory agencies, the speed of granting permits and licenses, labor rules, environmental restrictions, protection for assets such as

An external audit examines the opportunities and threats that are available to it within its market and is also the study of other rivals that exist within its environment. It is important to study this when constructing a business plan as it is necessary to know what affects your rivals have on you and the environment you work in as well as the outside factors that affect your environment. An external audit will usually involve carrying out competition and market analysis.

The purpose of this Case Study Analysis is to implement the knowledge that was gained during the course MBA 555 Business strategy. In the first part of the analysis will be described the history of the company, its products, the key success factors and the changes that were

The objective is to ensure that auditors obtain sufficient knowledge of the business of the entity to enable them to identify and understand the events, transactions or practice that may have a significant effect on the financial statements or the audit. This knowledge of the business helps to assess the levels of control and inherent risk and to determine audit procedures.

It is imperative on the part of companies in the industry to analyse the macro environmental factors which are beyond the control of company but have the significant impact on its future operations and profitability therefore to audit the present and anticipate the potential future changes so could be aligned with the changes and add to its advantage.

     A businesses environment creates many opportunities as well as problems for prospering businesses. The environment determines what a business can do by shaping and channeling its development. Businesses function within an environment by allowing entrepreneurs to raise capital and create profits freely. The supply of money available within a business as well as the economic stability through times of growth and recession have strong effects on businesses. Not only is the physical environment, including natural resources, pollution and energy as discussed previously, important, but many other

There will be 2 parts to external analysis; it will be done based on general environment and competitive environment. External analysis is basically analyzing the factors that are not within the control of an organization for the general environment part. As for the competitive environment part, the strength of an organization’s current competitive position, and the strength of a position it is considering moving into will be identified to help prepare itself for every possible happenings in the near future.

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

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

In today's world, no business operates in isolation without interacting with the environment where it operates. Irrespective of the nature of business whether public or private organization; manufacturing; service industry; local or international firm, its operations are inhibited by the environment in which it operates.

External analysis is about opportunities and threats of the business. The company has to know what they want to achieve and

The role of internal audit is to provide independent declaration that an organization’s threatadministration, governance and internal control processes are functioning effectively. Internal auditors deal with concerns that are essentially important to the existence and success of any organization. Unlike external auditors, they aspect beyond financial possibilities and statements to reflect wider problems such as the organization’s reputation, development, its power on the location and the approach it treats its organizations.In summary, internal accountantssupport organizations to thrive.