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关于南通有限公司国际业务的分析
跨国公司在全球金融业中扮演着重要的角色，因为它们在许多国家生产商品，关系着整个制造业。影响跨国公司业绩的因素有多种。这些因素包括：货币汇率的波动，东道国的政治经济稳定和公司的投资策略。
本文概述了英国的一间跨国公司的主要国际业务，南通有限公司(devro)。本文尝试着分析国际业务对南通有限公司的益处以及对其财务战略的影响。本文的第一部分将提供最佳的判断，以确定公司内部控制的类型，预计该公司已选定的地方。第二部分充分地说明，如何对该公司的重要性进行初步判断。第三部分对损益表和资产负债表的分配进行初步判断，并使用相对规模和重要性作为分配的基础。也有人认为，有些领域百分之百地需要审核。第四部分是，基于以下信息分配的三部分：
Analysing how international operations have benefited Devro plc
Multinational companies play an important role in global finance as they manage production of manufactured in a number of countries. There are various factors that could affect the performance of a multinational company. The factors include fluctuation of currency rate, political and economic stability of the host countries and the company's investment strategy.
This paper outlines and evaluates the international operations of a major UK multinational company, Devro plc (devro). It attempts to highlight how international operations has benefited Devro and influenced its financial strategy. Part 1 of the paper provides a use the best judgement to determine the type of internal controls to expect the company have selected to have in place. Part 2 determine with full explanations, the preliminary judgement about materiality for the company selected. Part 3. Allocate the preliminary judgement about materiality to the income statement and balance sheet amounts using the relative size and importance of the amounts as the basis for allocation. And also identity, with explanations those areas which has consider require a 100% audit. Part 4 reallocate the amounts allocated in part 3 above based on the following information:
Controls over both the revenue and the purchasing.
Controls over inventory.
Controls over additions to plant, depreciation and impairment.
Controls over the valuations of financial instruments.
南通有限公司的背景Background of Devro Plc
Devro Plc (Devro) is engage in the production of manufactured castings for the food production; they provide a range of products and industrial carry to the manufacturers of sausages, salami, hams and other cooked meal. The Company also manufactures and markets collagen film, collagen gel, plastic coatings, and collagen raw materials for the medical use. The Company has developed services in the Scotland, the Czech Republic, the United States and the Australia. The Company operates decided to focus collagen castings, distributed products and other products. Collagen casings include the three edible collagen brands Devro, Coria and Cutisin, and Cutisin non-edible collagen casings. Distributed products include Teepak cellulose, Krehalon plastics and other ancillary products. Other products include collagen film, collagen gel, Cutisin plastic casings, collagen for medical use and thin-film products. For the financial year ended 31 December 2009, Devro plc's revenues grow 20% to £220.4M. The Net income increased 62% to £20.2M. And Revenue reflects increase in demand for Company's products and services. Higher income return higher operating profit, decrease in finance expense, and the Devro Plc of net finance cost against an income on annuity & post-retirement health plan assets or liabilities.
南通有限公司的战略性目标与业绩分析Analysis of Devro performance based on its strategic objectives
Devro Plc strategic objectives are to continue to increase its customers' base through new business 'wins' and gaining new businesses with its existing customers, and consolidating the markets in which it competes through acquisition and improving its operational efficiency. Devro plc also continues to look for opportunities to extend its business into new geographies, expand and coordinate its procurement and international sourcing, invest in systems and infrastructure to improve its operating model, and redefine and deepen its commitment to its customers.
Devro plc focuses on its strengths as one of the leading suppliers of products that are everyday essentials to businesses. The company relies heavily on collagen and acquisition growths. Its claim for success is based on its understanding of its customers' needs a product offering as and when needed. Its aim is to be a global market leader in specialist distribution and agents.
Devro Plc partners with both its customers and suppliers in providing outsourcing solutions and service oriented distribution. It sources its products from a variety of manufacturers around the world. Devro Plc works with top international brands and local suppliers to ensure that its customers have access to the best and most suitable products that meet their needs.
Devro Plc appears to have achieved its strategic objectives. Over the year period (2007 - 2008), Devro Plc had been acquiring new businesses. For example, in 2008, Devro plc spent circa £12.7m on acquisitions with the Group making capital investments in five countries, i.e. UK, EU, Czech Republic, Australia and US. Other acquisitions included fourth in Asia pacific, Six in Europe and one each in the American. Without fail, Devro Plc is always looking for opportunities for increase its customer base, e.g. during 2008, it secured an extensive network of distribution and agent. Devro Plc also strives to continuously improve its operating efficiency.
Devro Plc made foreign direct investment in order to expand its operation acquisition strategy. To summarise, growth by acquisition is probably desirable when growth for edible collagen cannot achieve the target that Devro Plc has set. This may be because it is the only way the business can get particular critical resources, or because the time taken to grow edible collagen would be less acceptable to the company shareholder. The Devro Plc has five Directors and sixth executive committee.
The judgement are required to make for internal control the Committee shall keep under review the effectiveness of the Devro plc financial reporting and internal control policies and procedures for the identification, assessment and reporting of risks.
Internal control sets the quality of an organization, influencing the control consciousness of its people. It is foundation for effective internal control providing discipline and organization. The entity of risk management process the entities identify and manage its business risks.
The information and communication systems include the procedures and record to initiate record, process and report transaction and to maintain accountability of individual roles and responsibilities for the manufacturer products. Devro plc provide a wide range of products and technical support to manufacturers of sausages, salmi, hams and other cooked hams
The control procedures are the policies and procedures that help to ensure that management directives are carried out. The monitoring is a process for the quality executive directors are expected to build up a shareholding in the performance over time, to the value of one year's salary of internal control.
The Audit Committee has completed its review of the effectiveness of the Group's systems of internal control during the year, which is in compliance with the Turnbull Guidance 2005. It confirms the necessary action plans to remedy identified weaknesses in internal control are in place and have been throughout the year.
The Turnbull comments that this is risk management are illustrated in the diagram below. This is based on the idea of continual feedback that is inherent in management controls systems, this feedback on issues and problems results in improvement in the risk management process.
Organisation
The Boards have established a clear organisational structure, including formally delegated authorities that respond to the Principal Risk Factors that devro faces in the short, medium and longer term.
The diagram below provides one approach to the risk review process and summarises the stages involved in establishing and operating an adequate internal controls environment.
审计计划Audit planning
The ISA 300 states for the auditor to have an audit plan that the audit will be performed in an effective manner. Review last year annual report papers checking for any problems or issues that came up. Assess the impact of any changes in standards or law on the financial statements of an audit client. The auditor should copies and reviews management accounts, and discusses with management any problems that you consider material to the audit. Devro Plc plan the timing of the audit to fit both firm and the client to consider the possibility of relying on any audit work record the audit evidence from the audit work performed to support the auditor opinion. Devro Plc has determine the 3 continents number and grade of employees in American, Europe and Asia Pacific necessary to do the audit to determine any additional specialist coloured and small-calibre snack sausage casings are also a part of the overall Devro range. Meet the audit team and review the plan, discuss any possible problem, and the budget of hours and cost should be prepare. Last year timesheet performance Devro Plc has lost working day per million hours worked for 246. |
