How can retail banks in UK restore customer confidence and improve Dissertation

In what capacity can retail banks in UK reestablish client certainty and improve consumer loyalty after the money related cri - Dissertation Example activity and client certainty. It assembles the numerous determinants of such issues dependent on a few reviews including around 10,000 respondents made of for the most part clients of banks or family units, some bank Branch Managers, and some bank representatives. What will give an approach to improve consumer loyalty and client certainty must be the inventive activity of all the UK Retail Banks. Since, it has been recouping from the financial emergency (as far as productivity) while its clients despise the aftereffects of that recuperation, the UK Retail Banks ought to distinguish the particular needs of clients, agree to FSA guidelines, and offer clients an approach to be a piece of the monetary recuperation. That is beside doing their administrations appropriately. All things considered, it was found that the clients were not the reason for decrease in the monetary factors. Hypotheses and absence of information concerning the dangers engaged with the Capital Market were seen as t he main driver of the latest downturn. Lamentably, it gave the idea that the clients were the individuals censured for the monetary decrease, while the banks that guessed were rescued by government reserves. Credit turned out to be elusive for clients of banks. Terms and conditions got hard to acknowledge. Presently the banks are recouping while the overall population are as yet attempting to be dealt with decently by the banks. Step by step instructions to resuscitate consumer loyalty can be replied by the arrangement of the required items and administrations for clients who need them so as to develop or be restored financially. There are numerous determinants of consumer loyalty. Every one of them point to a certain something. Be worried about the peoples’ needs and gracefully their requirements appropriately. Part I Introduction In request to restore the UK economy during the downturn time frame in 2008, the Bank of England executed Quantitative Easing for its money relate d arrangement powerful 2009. In the period of March 2009, ?75 billion was added to the cash flexibly when BoE printed money to buy Gilts (government securities). This was trailed by ?50 billion in May 2009; another ?50 billion in August 2009; and the last ?23 billion in November 2009. These sums were foreseen to arrive at the families in the end with the goal that the customer spending would increment and the market should be resuscitated. (BoE, 2009) Unfortunately, the cash stalled out in the banks (Inmam, P. 2011). The annexed Figure 1 shows how the speed of move from banks to the organizations, SMEs, and family units ended up being exceptionally moderate. When BoE explored for the motivation behind why, it was accounted for that the banks needed to modify its liquidity first with the aggregate of ?200 billion discharged.

Green Mountain Coffee Roasters free essay sample

Roasters uncovers the accompanying : 1. 1 Strengths I. Item Consistency By using best in class cooking programming, GMCR is in this way ready to keep up their degree of item consistency, ii. One of a kind Products Its key achievement is in separating its espressos. The espresso beans have been painstakingly chosen and afterward broiling them in little groups to guarantee consistency and to amplify their taste and flavor contrasts. This one of the motivation behind why are the Green Mountain espressos not the same as those of other claim to fame espresso organizations. Then again, Keurig additionally gives Green Mountain access to the workplace and one-cup portion. iii. High Distribution GMCR flushes nitrogen into its bundled espresso and utilize single direction esteem sack bundling innovation that gives a base time span of usability of a half year for the organization espresso as client can hold the newness of the espresso in the bundle. This thusly, permits GMCR to extend it’s dissemination, with no stresses over undermined quality. We will compose a custom paper test on Green Mountain Coffee Roasters or then again any comparative theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page v. Socially Responsible Business Practices GMCR is a supporter of social and ecological causes, and being recorded in the â€Å"100 Best Corporate Citizens† and â€Å"The World’s Most Socially Responsible Companies† records. This goes about as a little something extra to the company’s viewpoint and notoriety. v. Generally Available GMCR’s items are broadly accessible in the market. By focusing on different appropriation channels and client classifications, GMCR is sure that customer preliminary at one purpose of the dissemination level will prompt an ensuing buy at another. vi. Leads Lead clients, for example, Amtrack, Exxon-Mobile, JetBlue Airways and American Skiing Company are vital to the company’s geographic development system as they give perceivability and testing openings 1. 2 Weaknesses I. Single Product Line GMCR manages strength espresso exclusively, placing it at a genuine burden in haggling with market chains for good rack space. ii. Own Distribution and Sales Force GMCR depended on its own circulation and deals powers to grow the Green Mountain brand in the staple channel. 1. 3 Opportunities I. Expanded utilization Increased espresso utilization in Europe, Asia and Brazil has recently extended GMCR’s dissemination openings. By focusing on and affecting a greater amount of the previously mentioned countries’ espresso consumers, GMCR can want to impact a large portion of the shoppers before its opponents do as such. ii. Claim to fame Coffee Market Gourmet, forte espresso is the bread-and-butter of GMCR’s foundation. A developing increment in customers looking for strength espresso will mean more splendid possibilities for GMCR. iii. Keurig Acquisition Green Mountain procured 42 percent proprietorship in Keurig Inc. The intrigue of the Keurig K-cup impeccably fermenting only one mug of espresso from an assortment of espresso determinations has added to GMCR accomplishment in the workplace espresso administrations. 1. 4 Threats I. Lessening in espresso utilization The U. S espresso showcase now just records for 20% of world espresso utilization, contrasted with the 80% during World War II. The espresso advertise is currently proceeding onward to Europe, Asia (especially Japan). ii. Business espresso roasters There is higher rivalry as significant organizations try to enter the claim to fame espresso industry. Such names incorporate however are not restricted to : Phillip Morris’ Gevalia, Procter Gamble’s Millstone and Nescafe. The significant espresso advertisers make a major push to make their superior espresso brands predominant in the discount channel. iii. Starbucks Partnerships Starbucks, seen as quite a while contender to GMCR, after going into a long haul authorizing with Kraft, will hope to create additional business 20-40 pounds of espresso for each store every week. This is viewed as a danger to GMCR, which has a normal deals of 100 pounds of espresso for each store every week. Starbucks, which has dissemination concurrence with Kraft nourishments Inc. plans to put their espresso in general stores alongside Kraft Maxwell House brands. Kraft deals with all conveyance, showcasing, publicizing and advancement for Starbuck espresso in basic food item, distribution center club and mass product store. It highlighted particular, rich bundling, noticeable situations in basic food item paths and a similar premium quality as that sold in its stores. Starbucks is additionally cooperating with Dreyer’s for marked frozen yogurt, and Pepsi to disperse packaged Frappuccino. Starbucks become the espresso provider to 20 million travelers who fly United Airlines every year and mail-request deals division represented about 2 percent of complete income. iv. Seattle Coffee Company Acquisition Starbucks procurement of Seattle Coffee Company in the forward quarter of financial 2003 and expanded distribution center club income because of development in existing record. The expansion was essentially inferable from the development of the food administration business as a consequences of the procurement of Seattle Coffee Company and the development in new and existing Starbucks food administration accounts. To finish up Green Mountain’s SWOT investigation, its asset qualities are restricted, and the organization is a so a lot littler contrasted with the remainder of the significant espresso advertisers, as Starbucks. Notwithstanding, it is cutting out a market specialty for itself and has made an honorable showing of making sure about discount accounts. 2. QUESTION TWO In your investigation of the organization’s qualities, make certain to recognize the firm’s Core Competencies utilizing the Value Chain. M. Porter’s esteem chain is as per the following : Source : UK Education, Accounting For Strategic Management According to M. Porter’s esteem chain, we have broke down and indentified the firm’s center skills as follows : 2. 1 Technology Development Nitrogen-based single direction valve bundling permits GMCR to build the timeframe of realistic usability of it’s espresso, hence prompting a higher Convection air roasters joined with explicit simmering programs for each bean type permits GMCR to make â€Å"signature† espressos, itself from other espresso organizations. 2. 2 Inbound Logistics GMCR get their espresso beans from Mexico, Guatemala, Peru, Indonesia and other espresso developing nations. This takes into account a wide assortment of espressos be made. By getting its assets for various areas, GMCR is at lower danger of being influenced by deficiencies. 2. 3 Marketing and Sales GMCR has more than 100 assortments of completed espresso items, which takes into account shopper taste and inclination, in the claim to fame espresso area, the market specialty which it has distinguished. Organization with Wild Oats and Costco takes into consideration more prominent entrance into the discount and market channels. The Keurig K-cup possession by GMCR has massively expanded business possibilities for GMCR. With the priority of web based shopping, comparatively, espresso is set to follow, as an ever increasing number of customers are beginning to mix their own espresso from the solace of their own home or office. 2. 4 Services According to Wikipedia (16 JUL 2007), GMCR has additionally propelled conveyance administrations to oblige customers. Bistro EXPRESS is Green Mountain’s programmed conveyance espresso club that remunerates their end shoppers with limits, unconditional presents, and unique advantages and benefits that lone Cafe EXPRESS participation brings. Other than espresso beans, Green Mountain likewise offers brewer and accomplices to the end shoppers out there. Subsequently shoppers can get all the vital hardware inside one stop. 3. QUESTION THREE Identify and assess the procedures that the association has sought after to keep up its development and initiative position. GMCR has received a separation technique, in this manner making notoriety and brand picture. Since the time GMCR entered the claim to fame espresso advertise in 1981, it has made more than 100 varities of completed espresso items, and with the utilization of innovation to improve consistency and quality, edged over its rivals. Green Mountain’s system has a few key components: A key segment of management’s development technique was to make Green Mountain espressos advantageous and accessible for customer preliminary by the cup at accommodation stores, office espresso administrations, and food administration foundations, in this manner prodding deals of green Mountain espressos grocery stores and claim to fame food stores. Green Mountain has a wide choice of top notch espressos. There are around 90 assortments. Green Mountain’s espresso items included single starting point, home, affirmed natural, Fair Trade, seasoned, and restrictive mixes of espresso sold under the Green Mountain Coffee Roasters and Newman’s Own Organics brands. Green Mountain likewise accentuation on 2 dissemination channels which are; I. Inventory deals To advance index deals, Green Mountain concentrated sales on list clients who purchased consistently, particularly individuals from the company’s â€Å"Coffee Club† who had tweaked standing requests for programmed re-shipment. As of late, the organization had started seeking after approaches to expand traffic on its site both to fabricate brand mindfulness across the country and lift direct deals to customers where the organization had a constrained nearness in markets and strength food stores. ii. Discount accounts Supermarkets, claim to fame food stores, comfort stores, lodgings, cafés, colleges, travel and office espresso administration clients, and food administration organizations. Significant discount clients incorporated the American Skiing Company elevated retreats, Amtrak, ARAMARK, ExxonMobil Convenience stores (right around 2,000 areas), Fred Meyer Stores, Hannaford Bros. Grocery stores, Kash N’ Karry Food Stores, Kings Super Markets, Nestle Waters of North America, Price Chopper, Shaws Supermarkets, Sodexho and Wild Oatsâ€see Exhibit 6. Obtaining extra â€Å"flagship† clients was seen as key to the company’s geographi

Get Better Grades Using Social Media [INFOGRAPHIC]

Get Better Grades Using Social Media [INFOGRAPHIC] Make Money Online Queries? Struggling To Get Traffic To Your Blog? Sign Up On (HBB) Forum Now!Get Better Grades Using Social Media [INFOGRAPHIC]Updated On 23/04/2017Author : Pradeep KumarTopic : Infographic Social MediaShort URL : http://bit.ly/2ozmQDd CONNECT WITH HBB ON SOCIAL MEDIA Follow @HellBoundBlogThere is always been a debate, like which is better, doing things online or doing things offline. But when it comes to Education, being online has its own benefits. As we can see Internet is Revolutionizing Education, yep, in high scale.Social Media can promote active learning by helping students relate to course material to their own experiences in and out of the class room. Earlier we discussed whether Twitter is hurting your grades or not and now we have another interesting infographic which says we can get better grades using Social Media.Infographic By MastersinEducation.orgWhats your opinion about this? Do you really think Internet and Social Media can create positive aware ness among Students?READ11 Laws To Promote Your Business On Social Media

Top 10 Brightest Stars in the Sky

Reading and Writing Strategies

What Was The Mission Of Martinus - 944 Words

4. What was the ‘MISSION of Martinus’? †¢ Undoubtedly, THE PRIME MISSION of MARTINUS’ WAS and IS â€Å"TO MAKE PEOPLE TO LOVE EACH OTHER†! He has seen LOVE as Cosmic Perpetua Mobile and was providing the solutions for love transformation into THE HABITUAL ABILITY or Automatic Consciousness -TO DO WHAT IS THE MOST LOVING THINGS TO DO IN ANY GIVEN SITUATION. â€Å"Love alone constitutes the distinctive mark of divine affinity and all-pervading love results in general mental co-habitation, harmony between intelligence emotion – perfect satisfaction of our greatest desires and the pinnacles of bliss state in physical sphere of existence.† (Quotes from book #45, ‘ON THE BIRTH OF MY MISSION’, chapter #6) †¢ After the age of thirty and the unequalled experience of Powerful Transformation of Consciousness, Martinus entirely and unequivocally devoted his time to the job of conveying the Absolute Truth to the world of terrestrial humans on the following: the inner Structure Life, their own Immortality, the Eternal and Infinite Universe, and the Eternal Cosmic Laws that Govern Maintain Life by making an utterly abstract content GRASPABLE, APPREHENSIBLE, and generally INTELLIGIBLE to the advanced human minds. †¢ Pursuing this further, one can find the purpose of Martinus nine thousand pages of Cosmic Abundant Wealth in ATTAINING THE INNER HARMONY BY LIVING IN HARMONY WITH THE REST OF THE UNIVERSE, to create THE NEW COSMIC MENTALITY in TOTAL COMPLIANCE WITH THE COSMIC LAWS consequently THEShow MoreRelatedWhat Was The Martinus Mission?883 Words   |  4 Pages 4. What was ‘Martinus MISSION’? †¢ THE PRIME MISSION of MARTINUS’ WAS and IS â€Å"TO MAKE PEOPLE TO LOVE EACH OTHER†! LOVE is to become THE HABITUAL ABILITY or Automatic Consciousness -TO DO WHAT IS THE MOST LOVING THINGS TO DO IN ANY GIVEN SITUATION. â€Å"Love alone constitutes the distinctive mark of divine affinity and all-pervading love results in general mental co-habitation, harmony between intelligence emotion – perfect satisfaction of our greatest desires and the pinnacles of bliss state in physicalRead MoreNotes On Martinus And His Spiritual Science1090 Words   |  5 PagesSEGMENT 1: ANSWERS ON MARTINUS HIS SPIRITUAL SCIENCE 1. What is Cosmology What Is MARTINUS COSMOLOGY †¢ COSMOLOGY is defined as A Branch of Astrophysics OR as Metaphysical Science which studies the origin, structure, dynamics and evolution of The Universe. What Is Metaphysical? ‘Metaphysical is Something Highly Abstract and/or Overly Theoretical†¦hard or impossible to observe by own senses. †¢ Strictly, both definitions ARE FALSE, because of dealing with ‘Origin of The Universe’. †¢ ‘Cosmos’ inRead MoreThe Explanation Of Big Water Puzzle1577 Words   |  7 Pages53. What is The Explanation of BIG WATER Puzzle? †¢ In both Greek and Chinese philosophy ‘Water’ was considered as one of four ‘basic Substances of the Universe, as they formulated, besides fire, Earth, and air. However, there is no trace of evidence of any successful ‘penetration’ into ‘Water’ ‘Life Structure’- No Insights. †¢ Further, the review of scientific magazines and popular encyclopedia texts on ‘Water’ confirms ‘the mystery’. Besides, general closely paraphrased statement that water isRead MoreSojourner Truth: A Woman of Courage1208 Words   |  5 Pageshero to blacks, slaves, and women. She was also an abolitionist and a champion of womens rights speaking through the country. She acted on her feelings about life and the way it should be. But, in Battle Creek, Michigan where Sojourner Truth spent her last years, and everywhere else, she is known for her powerful speeches that traveled the nation advocating for the fair treatment of freed slaves. Sojourner Truth was born in 1797, born into slavery, and was given the name Isabella Baumfree. Sojourner’sRead MoreEssay on The Ethics Concerning Space Debris2423 Words   |  10 Pagesstill in orbit by September 1997. Only 6% of the catalogued orbit population are operational spacecraft, while 50% is said to be due to decommissioned satellites, spent upper stages, and objects such as launch adapter and lens covers, which are mission related. The other 44% is originating from 140 on-orbit fragmentations. These events have been the main source that has generated a population of objects larger than 1cm on the order of 70000 to 150000. Efforts to provide a definitive assessmentRead MoreInternational Business Essay3115 Words   |  13 PagesInternational Labour Organization (ILO). I will discuss a summary of the organization mission and objective, internationalization process of ILO’s successfulness that help in some countries and its impacts on international context. Finally concluding the experience learned from the organization and an understanding of the organizational phenomena as a whole. Overview, Mission amp; Objective ILOs mission was set by its Director-General (ILO 2012), To promote opportunities for women and men toRead MoreTorpey 1998 State Monopolization Of Legitimate Means Of Movement12377 Words   |  50 Pagescapitalistdevelopmentinvolved the expropriationof the means of productionfrom workers by capitalists. The result of this process was that workers were deprived of the capacity to produce on their own and became dependent upon wages from the owners of the means of production for their survival. Borrowing this rhetoric,Marx s greatest heir and critic, Max Weber,arguedthat a central feature of the modernexperience was the successful expropriationof the means of violence from individualsby the state. In the modernworld,Read MoreExploring Corporate Strategy - Case164366 Words   |  658 Pagesdot.com. Formula One – developing the capabilities for competitive success in a hi-tech industry. Manchester United – clash of expectations in the football world. Salvation Army – strategic challenges for a global not-for-profit organisation with a mission. Bayer MS – corporate social responsibility in the international development of a German company. Eurotunnel – clash of cultures threatens to derail Anglo–French rail link. Ryanair – competitive challenge and strategic choice in the budget airlineRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesthe Contributors †¢ 343 _ IN TR OD UC TIO N Michael Adas B y any of the customary measures we deploy to demarcate historical epochs, the twentieth century does not appear to be a very coherent unit. The beginnings and ends of what we choose to call centuries are almost invariably years of little significance. But there is little agreement over when the twentieth century c.e. arrived, and there were several points both before the year 2000 (the collapse of the Soviet Union

Auditing Business Enterprise for Concern

Question: Describe about the Auditing of Business Enterprise for Concern. Answer: Assessment of Business Risk and Inherent Risk 1 (a) Business Risk of HIH Insurance Limited As rightly put forward by Leung et al. (2015), it is imperative to assess the business risk related to the operations of HIH Insurance Limited. Business risk refers to different factors that can act as a hindrance in the process of achievement of the organizational goals as well as objectives. Again, the business organizations face the risks owing to different reasons. The present study primarily concentrates on the different risks that can affect the operations of the business enterprise for going concern issues. However, there are certain contributing factors that increase the risk proposition of the business for the subsequent financial year. Again, the loss of the consumers, huge financial risk, decline in the profitability and excessive trading of different business activities and less number of products are the important business risks that the management of a corporation faces Arens et al. (2009). The primary reason behind the business risks are high level of competition and d ifferent lawsuit among many others. The present study primarily concentrates on the case study based on the operations of HIH Insurance Limited. Furthermore, the current study also refers to the evaluation of the business risk that in turn can facilitate the process of proper analysis required for conducting the business for future analysis (Gay and Simnett 2009). Based on the evaluation of the business risk, the management can identify the challenges that an organization face and usage of expensive stratagem in the upcoming financial year. The primary objective of the present study is to analyse different state of affairs of the corporate governance of the company HIH prior to the period of the collapse. The analysis of the corporate governance reflects different warning signs indicated by the supervisory authority in the process of determination of different actions that are facing different challenges. The primary concentration remains on the amount of investments provided by the shareholders of the organization, finances of the policyholders for the process of detection and supervision of different asset risks concerns (Messier Jr 2016). The investment stratagem of HIH Insurance Limited takes into consideration the assessed risk ensuing from underwriting performance. The risk mainly occurs from different reinsurance strategies that occur due to the asset risk (Messier Jr 2016). This also helps in ensuring that there remains a neutral influence of different outcomes of investment acquired from the entire risk profile known as HIH Board. The characteristics and nature of the risk are appropriately indicated in different investment guidelines declared by the company HIH Insurance Limited. The company also has an investment committee that intends to formulate different suggestions for asset allocation. However, the present rules and regulations comprises of different boundaries as well as exclusions on identified asset categories (Arens et al. 2011). Furthermore, the investment committee also attends meetings in each quarter for examining different process of allocation of asset. Therefore, the primary intention of the study is to highlight the level of risk tolerance of board as indicated in the invested portfolio. A thorough assessment of the operations of the organization reveals the fact that the company faces the risk of compliance (Elder et al. 2011). As indicated in the current case study on HIH Insurance Limited, the company faced different types of challenges as regards the pricing strate gies and at the same time inadequate reserve. The management of the company decided to offer insurance at a lower rate at a very low rate of premium. The strategy of diminishing the premium for the insurances decreased the stream of revenue of the corporation leading to the failure of the corporation in maintaining the required fixed assets for providing coverage against the liabilities of the corporation (Arens et al. 2012). Moreover, the policy of decreasing the overall rate of premiums for the insurances also affected the process of capital formation of the company (Eilifsen et al. 2013). Again, the administration of HIH has committed material misstatements in the financial announcements that refer to the inadequacy of reliability, clearness and ethical conduct of the corporation (William et al. 2016). This again leads to the loss of reputation and reflects the reputation risk. The study also indicates different risks that the corporation might face because of the intimidating ex pansive strategies of the company. The policy of entering into a new market increased the business risk as the company has inadequate knowledge regarding the business environment the new emerging market. 1(b) Inherent risk factors that can affect the financial reporting of HIH Insurance Limited As rightly indicated by Arens (2016), the inherent risk indicates to different risks faced by a business entity that occurs in absence of any kind of actions that might take into account the likelihood as well as influence of the risk. The management of the business can analyse as well as interpret the overall process of assessment of risk. A detailed evaluation of the current case study on HIH Insurance Limited can assist in comprehending different inherent risks that in turn can be associated to the business operations of the corporation HIH Insurance Limited. The detected inherent components of the risk for the company HIH Insurance comprises of the exaggeration of the cash balance that subsequently can replicate augmented working capital (Arenns 2016). Furthermore, the inherent risk factors also comprises of underestimation and at the same time understatement of creditors that lead to inappropriate representation of the total working capital of the corporation. Again, the inheren t risk can also generate out of the exaggerated representation of the debtors of the corporation that again can lead to the augmentation of the working capital of the corporation HIH Insurance Limited. Therefore, it can be hereby ascertained that the material misstatement can also lead to different types of inherent risks. Moreover, as per the case study, it can be hereby established that evaluation of the risk of the corporation HIH Insurance has helped in the process of replication of the poor condition of the financial health of the corporation. This in turn has forced the administration of the corporation to blow up the data on the sales revenue (William et al. 2016). Again, as per the case study, it can be hereby ascertained that HIH presented concocted report and made false declaration regarding the achievement of the revenue targets and at the same time profitability, solvency and operational efficiency. 2(a) Facts and Results Regarding the Case of Andersen Clients: The particular company HIH Insurance limited mainly focuses on the operational activities of the Royal Commission regarding the finding out of the accounting factors (Comino 2015). It has been found that in the year 1971, the audit firm Arthur Anderson had completed its external auditing that began from the year of collapse that is 2001. Therefore, the clients mainly prefer to take assistance about the many audit risks that might occur regarding the subject with the common laws and cases. Creditors: The auditors mainly play a vital role regarding involvement of the effective control over the avoidance of the associated errors and the mistakes. It has been found that in case of Pacific Acceptance Corporation Limited Vs Forsyth, the auditors believe that the opinion of the auditors depends on the financial reports of the firm in compliance with the matters that govern the required standards and the accounting laws in an accurate manner (Gamertsfelder 2016). The function of an auditor is to look over the points that are associated with the performances of the duty in the due course of time. This is mainly associated with the company Kingston cotton mill that indulges in the utmost care intelligence for the purpose of the future analysis (Drinnan and Campbell 2015). The auditors require the essential skills along with their expertise in order to carry out their activities regarding auditing. The auditors take the investors and the creditors into consideration for any type of assista nce for use of the financial statements. 2(b) Conditions required for the Present Negligence Actions It is a vital factor to uphold all the elements related to the negligent actions and this should be proven. There are mainly four elements that are found within the negligent case and these include breach of duty, proximate damage and cause, duty and cause in fact. The first situation is the determination or the identification of the fact that whether the auditor of the firm had any type of duty towards the plaintiff (Zadek et al. 2013). Therefore, for this factor, the relationship between the plaintiff and the auditor is counted. Therefore, the particular duty can be considered as the established duty. The second situation is the identification of the fact that whether the auditor has failed to act any duty which he should perform. The liability for the negligence should arise when the individual fails to act its duty with due care. The third situation is that the claimant of the case should prove that particular action of the auditor has resulted into real injury. It can also be said that whether the auditor has not performed the particular action then the claimant might not suffer from the injury. The fourth situation is that the auditor of an organization is only liable for the particular damages which it might have foreseen (Furnham and Gunter 2015). The fifth situation is that the claimant should prove the negligence of the actions of the auditor that have resulted into a real damage. 3(a) It has been noted that an organization should hire an external audit team as there are various reasons for that. The main causes for hiring an external audit team are as follows: The management of the firm generally has to work with the firms auditors most of the time. Thus it can be said that the management team and the auditors of the firm are much close due to their work. Therefore, a good relationship might occur between the auditor and the management department of the organization. It has been found that the external auditor is familiarized to the general functioning, laws, policies, rules and regulations of the organization. In addition to these, the management of an organization commonly work closely with the firms auditors such that the management might form a good relationship with the auditor. 3(b): The advantages for the engagement of the external auditor to the consulting services are as follows: It has been found that the auditor is mainly related to the business of the customer. Therefore, both the effort and the time consumption for knowing the particular entity will be saved. It has been noted that the auditor has substantial knowledge regarding the business of the customer such that it can serve both effective and efficient consulting (Samkin and Deegan 2012). Additionally, the auditor along with his experiences with the particular customer might offer a unique solution to every issue. Lastly, there is also savings in accordance to the costs, only if the auditor is allocated as the consultant of the particular organization. 3(c) It has been found that as per the case study of HIH insurance limited, there are some ethical issues that include the audit profession which has contributed to the collapse of the firm. It has been noted that within the firm HIH insurance limited, there were some ethical dilemmas that might exist when the firm faces the particular situation. This situation occurs when the tradeoffs is needed between the interests and the ideals. Therefore, the auditor should act accordingly with the ethical standard and for the shareholders interest. Thus, auditor is needed to fulfil with all the five ethical standards that is confidentiality, objectivity, integrity, professional behaviour and professional competence (Arens et al. 2015). As per the case study, it has been found that the audit firm has obtained huge amount of fees from HIH insurance limited for both the services audit and non-audit. Therefore, it should be counted that if it was ethical or not to serve such non-audit fees for the int erest of the shareholders. The audit fees were not raised by the HIH insurance limiteds management; the Andersen declined the work amount on the audit of HIH insurance limited. Furthermore, this also used the relationship with the companys management in order to consider the non-audit services and also to hike its fees. The close relationship between the audit firm Andersen and HIH insurance limited has allowed HIH to follow the accounting policies. The agreement of Andersen is unethical as the auditor is in a pressurized way. 3 (d) The statements provided by Ramsay as well as the CLEWRP 9 indicate different suggestions for augmentation of diverse auditing operations. However, the main recommendations for the purpose of improvement of auditing tasks refer to different facts that a particular person need not determinedly suggest that the auditor is independent. In addition to this, it is imperative to have appropriate disclosures in the annual statements (Arens 2012). In addition to this, the company also needs to have declarations as regards the contentment of the committee with the non-audit operative services. The documents on the judgement of the committee provide different recommendations that can affect the overall auditing operations effectually. In addition to this, different independent audit professionals need to execute the performance requirements concerning the assessment of financial announcements. References Arens, A. A., Elder, R. J., Beasley, M. S., and Jones, J. 2015. Auditing: The Art and Science of Assurance Engagements. Pearson Canada. Arens, A.A., 2016.Auditing and Assurance Services: Student Value Edition. Prentice Hall. Arens, A.A., Best, P., Shailer, G., Fiedler, B., Elder, R.J. and Beasley, M., 2011.Auditing and assurance services in Australia: an integrated approach. Pearson Education Australia. Arens, A.A., Elder, R.J. and Beasley, M.S., 2012.Auditing and assurance services: an integrated approach. Prentice Hall. Comino, V., 2015. Australia's' Company Law Watchdog': ASIC and Corporate Regulation.V Comino, Company Law Watchdog-ASIC and Corporate Regulation (Thomson Reuters, Australia 2015). Drinnan, R. and Campbell, J., 2015. Class action risk: Now and in the future.Governance Directions,67(9), p.537. Eilifsen, A., Messier, W.F., Glover, S.M. and Prawitt, D.F., 2013.Auditing and assurance services. McGraw-Hill. Elder, R.J., Beasley, M.S. and Arens, A.A., 2011.Auditing and Assurance services. Pearson Higher Ed. Furnham, A., and Gunter, B. 2015. Corporate Assessment (Routledge Revivals): Auditing a Company's Personality. Routledge. Gamertsfelder, L., 2016. Disclosure laws and class actions: An irresistible relationship.Governance Directions,68(5), p.276. Leung, P., Coram, P., Cooper, B. and Richardson, P., 2015. Modern Auditing and Assurance Services, 6th edition, John Wiley and Sons. Arens, A., Bets, P., Shailer, G. and Fiedler, B. 2009. Auditing and Assurance Services in Australia: An Integrated Approach, 7th edition, Pearson. Gay, G. and Simnett, R. 2009. Auditing and Assurance Services, McGraw-Hill. Messier Jr, W., 2016.Auditing assurance services: A systematic approach. McGraw-Hill Higher Education Samkin, G., and Deegan, C. 2012. New Zealand financial accounting. McGraw-Hill Education Australia. William Jr, M., Glover, S. and Prawitt, D., 2016. Auditing and Assurance Services: A Systematic Approach.Auditing and Assurance Services: A Systematic Approach. Zadek, S., Evans, R., and Pruzan, P. 2013. Building corporate accountability: Emerging practice in social and ethical accounting and auditing. Routledge.