Part one: Telecommunication company (Digi and Maxis)
(b) Possible risks that can lead to material misstatements in the financial statements if business risk related to the operation are not managed effectively (Telecommunications)
There are several possible risks related to telecommunications industry which can lead to material misstatements in the financial statements such as data privacy via accounting metrics. Data privacy issues in telecommunications industry can lead to material misstatements in their financial statements where the industry uses customer location and biographic data to generate revenue by selling those data to third parties as well as to improve their services. Lack of data privacy data measures can lead the company to
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Failure in addressing a proper capital expenditure management can lead to non-promising cash flows. The frequent change in capital expenditure strategies occur when the companies are acquiring advanced wireless spectrum, implementing cloud-based software to upgrade, maintain and expand existing networks due to increase in demand of telecommunication services. Hereby, the management is advised to enhance their internal control by focusing in internal audit area to perform suitable audit procedures. The management should ensure compliance with policies by evaluating the vendor authorization and procurement process to verify the recorded transactions as well as evaluating capital expenditure strategies in terms of expected outcomes, assumptions, new accounting standards and possible risks towards the strategy. Moreover, high risk areas such as project authorization, contracting, scope changes and fraud need additional assessment of policies and control environment and the internal auditors may perform real-time assessments of individual capital expenditure projects to identify conceivable issues with project management, status reporting and vendor compliance with contract terms. These improvisations in internal controls of Maxis and Digi are essential to face the challenges to maintain a reliable operating cash flows in terms of strategic alignment, accountability, financing and suitable control environment to protect the
Founded in 1966 and based in Calgary, Shaw Communications is a Canadian telecommunications company that provides telephone, Internet and television services as well as mass media related services. The Company operated through three principal business segments such as Cable, consisted of cable television, Internet, Digital Phone and Shaw Business operations. Satellite, consisted of direct-to-home (DTH) and Satellite Services. Lastly media consisted of television broadcasting. Shaw Media operates as conventional television networks in Canada, Global Television, and numerous specialty networks. It provides customers with entertainment, information and communications services, utilizing a variety of distribution
Rogers Communications Inc. (RCI) is one of the leading, well-established communications and media companies in Canada. Competent management of human capital/resource and employee development are often among the key factors that contribute to a company’s success. Like others, Rogers attributes its success to (and takes pride in) its highly skilled and diversified workforce with 26,000 employees across the country. According to the company’s multi-year business plan (called Rogers 3.0), focus and investment in employees with their development are one of its key strategies (Rogers, 2017a). The company has been recognized as one of the Canadian top 100 employers and top employers for young people (Rogers, 2017b). This paper intends
The author appear to be moderately perplexed by the fact that American state that they are concerned about privacy but they yet disclose personal information to entities. I would offer that the reason many are disclosing the information, is that business will not offer their services or product without the personal information. One can go to another vendor for service, only to have the same problem repeated. Now what is perplexing, is the authors claim that “a significant number, 11%” (Caftori & Teicher, 2002) of the population believes that corporate owners should go to prison for violations of information privacy. I must say, I never thought of 11% of a population as a significant percentage, but I am just a student. More confusion for the authors is when a computer system that handles big data has faulty output. They use the analogy of an airline, and if they lose your luggage and should receive compensation, but this is not the case when the DMV provides faulty data. This should not be perplexing, with the airline an explicit contract is made with the purchase of the ticket. The airline is transport my body and my luggage to the agreed location without damage or loss. Luggage is tangible. The contents are worth x amount of dollars and the airline pays the individual
Additionally, today’s society is filled with legal and ethical concerns that surround numerous individuals and their responsibility is to keep all information private and accurate. Furthermore, accounting and financial reporting is the most significant function of a business and entails a great sense of legal, ethical and technological concern.
According to the Case Management Society of America, case management is "a collaborative process of assessment, planning, facilitation, care coordination, evaluation, and advocacy for options and services to meet an individual's and family's comprehensive health needs through communication and available resources to promote quality, cost effective outcomes" (Case Management Society of America [CMSA], 2010). As a method, case management has moved to the forefront of social work practice. The social work profession, along with other fields of study, recognizes the difficulty of locating and accessing comprehensive services to meet needs. Therefore, case managers work with these
As per PCAOB standard 12 it is our responsibility to identify internal and external risks to the business and risks that could result in material misstatement. The Newham
1.1 Explain the value of customer service as a competitive tool Customer service is valued as a competitive tool by many organisations. It gives you the ability to gain customer loyalty while meeting the customer’s expectations. Staff will have the skills and knowledge that will provide a competitive edge. Most organisations are known for the quality of their customer service. This means that they are known for good customer service or poor customer service.
Cisco Systems, Inc. is a leader in networking for the internet, they develop hardware, software, and services to help create internet solutions that make internet networks possible. Cisco was founded in 1984 by a small group of computer scientists from Stanford University. They are a worldwide company with headquarters in: San Jose, California, Amsterdam Netherlands, and Singapore. Currently, they employ approximately 74,000 people throughout the world. Cisco operates on a set of values which include: change the world, intensely focus on customers, make innovation happen, win together, respect and care for each other, and always do the right thing. They show these values through global involvement in education, community, and philanthropic efforts. (Cisco, 2004)
The changes in leadership positions soon led to results and Nokia’s strategy was re-evaluated. The company describes the decision to shift focus on its remaining three divisions – Nokia Networks, HERE and Nokia Technology – as forward-looking. The businesses continuing in operation are respective leaders of their marketplace (Nokia, 2014).
The Supreme Court today conveyed its verdict in the Vodafone case, putting an end to the almost five-year old debate encompassing the taxability in India of seaward exchange of shares of a Cayman Islands organization by the Hutchison Group to the Vodafone Group. In a historic point choice, the Supreme Court turned around the choice of the Bombay High Court and held that the Indian charge powers did not have regional ward to duty the seaward transaction, and along these lines, Vodafone was not obligated to withhold Indian charges.
These risks will have material effect on the organisation 's ability to sustain its business and operational goals and objectives.
"While practically everybody today is a potential mobile phone customer, everybody is simultaneously different in terms of usage, needs, lifestyles, and individual preferences," explains Nokia's Media Relations Manager, Keith Nowak. Understanding those differences requires that Nokia conduct ongoing research among different consumer groups throughout the world. The approach is reflected in the company's business strategy:
Identify the potential risks which affect the company and manage these risks within its risk appetite;
Audit Risk is the risk that an auditor has stated an incorrect audit opinion on the financial statements. It may cause the auditors fail to alter the opinion when the financial statements contain material misstatement. The auditor should perform the audit to lower the audit risk to a sufficiently low level. In the auditor’s professional judgement, the auditor should appropriately state a correct opinion on the financial statement
with the BT brand. As a well known business its aim is to place all UK