Auditing

The report is done from the perspective of auditing. Multiple aspects of Virgin high such as strengths, weakness, opportunities and threats are analyzed in the set-back part. And in the second part five audit risks are identified and explained. Finally, since the appointment of new CEO, the impact of Virgin dismal is illustrated. 1. SWOT analysis * Strengths * Strong brand name and good composition * Offering competitive fares with high quality customer improvement and awarded the Best Low-Cost Airline in Australia 2009 * Excellent on-time accomplishment record * Successful loyalty program| * Weakness * missing experience in its new long haul seam * High percentage of cancellations * Lower margin compared with competitors * Loose oversight * Unstable IT System| * Opportunities * Develop corporate travel merchandise: market share against Qantas * International partnerships: Use Delta, Emirates partnerships to grow product offering against Qantas * Recovering global economy * Increasing in-migration * Increasingly advanced technology enables airlines to provide more restroom to travelers| * Threats * Competition from domestic airlines, e.g.

Qantas, etc * Upward pressure from fuel atomic number 19 fuel prices * Greater international competition: further elaboration of Tiger network * Heavily reliance on net profit as sales channel exposes them to risks associated with system disruption| 2. divulge audit risks 3.1 Revenue Overstatement There are several reasons listed as follows will lead to the decreasing of tax revenue, which might make revenue account to be overstated. Competition of aviation industry Because of the competition in the aviation industry, the market share percentage of Virgin dark-skinned is likely to be reduced. Qantas Chief Alan Joyce has made a proclamation that Jetstar will be bigger than Virgin Blue deep down five years. The operational goal of Jetstar is similar to Virgin Blue, which is... If you wish to get a full essay, order it on our website: Ordercustompaper.com

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