The Effect of Non-Audit Services on Auditor Independence : A study on 11 food retail- and wholesale companies in the United Kingdom

Purpose – The purpose of this study is to investigate the effect of non-audit services on auditor independence, and the importance of non-audit services as a source of income for audit firms in the United Kingdom. Design/method/approach – This study will examine 11 companies in the food retail- and wholesale industry during 2007 - 2014. Five indicators have been used; (1) Appointed auditor and provision of non-audit services to audit clients; (2) Auditor tenure; (3) Non-audit services in relation to total services; (4) Tax-services in relation to non-audit services, (5) Big Four’s revenue. Information has been collected using the quantitative approach through annual- and transparency reports. The threshold used to measure possible independence threats (self-review-, self-interest- and familiarity threat) has been set at 18,5 %. Findings – This study concludes that the jointly provision of audit- and nonaudit services possibly causes impairment of auditor independence, and that non-audit services is an important source of income for audit firms. The findings showed that in 99 %, companies purchased non-audit services from their statutory auditor. Non-audit services in relation to total services surpassed the threshold in 78 % of all financial years. Likewise, tax-services in comparison to non-audit services exceeded the threshold in 65 % of all financial years. The Big Four’s revenue from non-audit services to audit clients in relation to total revenue is almost constantly below the threshold. However, in all financial years except from one, total revenue from non-audit services surpassed revenue from audit services by far. Contribution – The study contributes to the ongoing discussion about nonaudit services effect on auditor independence. Originality/value – This study is one of few that provide detailed information about non-audit services in the food retail- and wholesale industry. It highlights social and ethical issues with regard to agency relationships.  

From Cash to Electronic Payments: Microeconomic, Macroeconomic, and Policy Aspects of Retail Payment Systems

This dissertation explores three aspects of the economics and policy issues surrounding retail payments (low-value frequent payments): the microeconomic aspect, by measuring costs associated with retail payment instruments; the macroeconomic aspect, by quantifying the impact of the use of electronic rather than paper-based payment instruments on consumption and GDP; and the policy aspect, by identifying barriers that keep countries stuck with outdated payment systems, and recommending policy interventions to move forward with payments modernization. Payment system modernization has become a prominent part of the financial sector reform agenda in many advanced and developing countries. Greater use of electronic payments rather than cash and other paper-based instruments would have important economic and social benefits, including lower costs and thereby increased economic efficiency and higher incomes, while broadening access to the financial system, notably for people with moderate and low incomes. The dissertation starts with a general introduction on retail payments. Chapter 1 develops a theoretical model for measuring payments costs, and applies the model to Guyana—an emerging market in the midst of the transition from paper to electronic payments. Using primary survey data from Guyanese consumers, the results of the analysis indicate that annual costs related to the use of cash by consumers reach 2.5 percent of the country’s GDP. Switching to electronic payment instruments would provide savings amounting to 1 percent of GDP per year. Chapter 2 broadens the analysis to calculate the macroeconomic impacts of a move to electronic payments. Using a unique panel dataset of 76 countries across the 17-year span from 1998 to 2014 and a pooled OLS country fixed effects model, Chapter 2 finds that on average, use of debit and credit cards contribute USD 16.2 billion to annual global consumption, and USD 160 billion to overall annual global GDP. Chapter 3 provides an in-depth assessment of the Albanian payment cards and remittances market and recommends a set of incentives and regulations (both carrots and sticks) that would allow the country to modernize its payment system. Finally, the conclusion summarizes the lessons of the dissertation’s research and brings forward issues to be explored by future research in the retail payments area.

Evaluating, predicting and mapping belowground carbon stores in Kenyan mangroves.

Despite covering only approximately 138,000 km2, mangroves are globally important carbon sinks with carbon density values 3 to 4 times that of terrestrial forests. A key challenge in evaluating the carbon benefits from mangrove forest conservation is the lack of rigorous spatially resolved estimates of mangrove sediment carbon stocks; most mangrove carbon is stored belowground. Previous work has focused on detailed estimations of carbon stores over relatively small areas, which has obvious limitations in terms of generality and scope of application. Most studies have focused only on quantifying the top 1m of belowground carbon (BGC). Carbon stored at depths beyond 1m, and the effects of mangrove species, location and environmental context on these stores, is poorly studied. This study investigated these variables at two sites (Gazi and Vanga in the south of Kenya) and used the data to produce a country-specific BGC predictive model for Kenya and map BGC store estimates throughout Kenya at spatial scales relevant for climate change research, forest management and REDD+ (Reduced Emissions from Deforestation and Degradation). The results revealed that mangrove species was the most reliable predictor of BGC; Rhizophora muronata had the highest mean BGC with 1485.5t C ha-1. Applying the species-based predictive model to a base map of species distribution in Kenya for the year 2010 with a 2.5m2 resolution, produced an estimate of 69.41 Mt C (± 9.15 95% C.I.) for BGC in Kenyan mangroves. When applied to a 1992 mangrove distribution map, the BGC estimate was 75.65 Mt C (± 12.21 95% C.I.); an 8.3% loss in BGC stores between 1992 and 2010 in Kenya. The country level mangrove map provides a valuable tool for assessing carbon stocks and visualising the distribution of BGC. Estimates at the 2.5m2 resolution provide sufficient detail for highlighting and prioritising areas for mangrove conservation and restoration.

Retail Food Establishments: Guide to HACCP Plans

A Hazard Analysis and Critical Control Point (HACCP) system is a plan to reduce the risk of safety hazards in food. The HACCP System identifies potential biological, chemical and physical hazards from the time the food enters the facility to when it is served. The Hazard Analysis identifies critical control points based on the ingredients, raw materials and processes. Control measures are then identified, implemented and monitored to ensure the ongoing safety of the finished products.

Using Intelligent Agents to Understand Management Practices and Retail Productivity

Intelligent agents offer a new and exciting way of understanding the world of work. In this paper we apply agent-based modeling and simulation to investigate a set of problems in a retail context. Specifically, we are working to understand the relationship between human resource management practices and retail productivity. Despite the fact we are working within a relatively novel and complex domain, it is clear that intelligent agents could offer potential for fostering sustainable organizational capabilities in the future. The project is still at an early stage. So far we have conducted a case study in a UK department store to collect data and capture impressions about operations and actors within departments. Furthermore, based on our case study we have built and tested our first version of a retail branch simulator which we will present in this paper.

A Multi-Agent Simulation of Retail Management Practices

We apply Agent-Based Modeling and Simulation (ABMS) to investigate a set of problems in a retail context. Specifically, we are working to understand the relationship between human resource management practices and retail productivity. Despite the fact we are working within a relatively novel and complex domain, it is clear that intelligent agents do offer potential for developing organizational capabilities in the future. Our multi-disciplinary research team has worked with a UK department store to collect data and capture perceptions about operations from actors within departments. Based on this case study work, we have built a simulator that we present in this paper. We then use the simulator to gather empirical evidence regarding two specific management practices: empowerment and employee development.

A contribution towards the performance and structural understanding of copper and nickel salts as ammonia stores

The ongoing depletion of fossil fuels and the severe consequences of the greenhouse effect make the development of alternative energy systems crucially important. While hydrogen is, in principle, a promising alternative, releasing nothing but energy and pure water. Hydrogen storage is complicated and no completely viable technique has been proposed so far. This work is concerned with the study of one potential alternative to pure hydrogen: ammonia, and more specifically its storage in solids. Ammonia, NH3, can be regarded as a chemical hydrogen carrier with the advantages of strongly reduced flammability and explosiveness as compared to hydrogen. Furthermore, ammine metal salts presented here as promising ammonia stores easily store up to 50 wt.-% ammonia, giving them a volumetric energy density comparable to natural gas. The model system NiX2–NH3 ( X = Cl, Br, I) is studied thoroughly with respect to ammine salt formation, thermal decomposition, air stability and structural effects. The system CuX2–NH3 ( X = Cl, Br) has an adverse thermal decomposition behaviour, making it impractical for use as an ammonia store. This system is, however, most interesting from a structural point of view and some work concerning the study of the structural behaviour of this system is presented. Finally, close chemical relatives to the metal ammine halides, the metal ammine nitrates are studied. They exhibit interesting anion arrangements, which is an impressive showcase for the combination of diffraction and spectroscopic information. The characterisation techniques in this thesis range from powder diffraction over single crystal diffraction, spectroscopy, computational modelling, thermal analyses to gravimetric uptake experiments. Further highlights are the structure solutions and refinements from powder data of (NH4)2[NiCl4(H2O)(NH3)] and Ni(NH3)2(NO3)2, the combination of crystallographic and chemical information for the elucidation of the (NH4)2[NiCl4(H2O)(NH3)] formation reaction and the growth of single crystals under ammonia flow, a technique allowing the first documented successful growth and single crystal diffraction measurement for [Cu(NH3)6]Cl2.

Understanding the Impact of Management Practices and Other Factors on Productivity in the UK Retail Sector

Insights into how management practices and other factors impact upon company productivity in the UK retail sector. Creating a sound base of applied knowledge and understanding to inform other components of our project.

Retail Food Establishments : Certified Food Protection Manager

This fact sheet cites SC Regulation 61-25 and lists accredited training programs for the Food Protection Manager Certification Program

Retail Food Establishments: Sushi Rice Guidelines

This regulation explains that retail food establishments that prepare sushi rice must take additional measures to ensure the safety of those that consume it. In addition to the standard temperature requirements, sushi rice safety may also be controlled by time or pH standards. The Department of Health and Environmental Control requires one of the following methods be implemented for safe sushi rice production: Maintaining Temperature Control, Use Time as a Public Health Control, Product Assessment (PA) & pH Monitoring, Submit a HACCP Plan to the Department for Review.

Retail clerks international advocate.

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Retail Marketing. Una visión en España. Módulo 1

Este módulo presenta una introducción a la situación macroeconómica del sector del retail español con el fin de situarnos en el tema que vamos a estudiar. Así se analizará la situación financiera del país, haciendo referencia al PIB, tasas de paro, tasas de ahorro y de consumo de los hogares, y nivel de importaciones y exportaciones. También se comentará cuál es el estado de ánimo de los españoles ante la situación actual, tanto de empresas como de consumidores; y las expectativas de recuperación de los mismos.

Agent based simulation as a novel decision support tool for retail managers

Intelligent agents offer a new and exciting way of understanding the world of work. We apply agent-based simulation to investigate a set of problems in a retail context. Specifically, we are working to understand the relationship between human resource management practices and retail productivity. Our multi-disciplinary research team draws upon expertise from work psychologists and computer scientists. Our research so far has led us to conduct case study work with a top ten UK retailer. Based on our case study experience and data we are developing a simulator that can be used to investigate the impact of management practices (e.g. training, empowerment, teamwork) on customer satisfaction and retail productivity.

Strengthen Unilever-Jerónimo Martins’ position in the traditional supermarkets

Field lab: Entrepreneurial and innovative ventures

Investigating output accuracy for a discrete event simulation model and an agent based simulation model

In this paper, we investigate output accuracy for a Discrete Event Simulation (DES) model and Agent Based Simulation (ABS) model. The purpose of this investigation is to find out which of these simulation techniques is the best one for modelling human reactive behaviour in the retail sector. In order to study the output accuracy in both models, we have carried out a validation experiment in which we compared the results from our simulation models to the performance of a real system. Our experiment was carried out using a large UK department store as a case study. We had to determine an efficient implementation of management policy in the store’s fitting room using DES and ABS. Overall, we have found that both simulation models were a good representation of the real system when modelling human reactive behaviour.