Business Growth – NBC Institute

AAA – May 2019 – L3 – Q7 – Group Audits

Explain joint audit, its benefits, and challenges in the context of an automotive company’s acquisition.

Question

You are an audit manager in a firm of Chartered Accountants. Your firm has been appointed as joint auditors with another firm to carry out the audit of Opeloyeru Automotive Company Limited, which has acquired another company in the same industry to expand its business across six states in the southwest zone of Nigeria.

Required:
a. Explain the concept of joint audit. (5 Marks)
b. Discuss the reasons why joint audit is considered desirable. (5 Marks)
c. Explain possible setbacks for engagement in joint audits. (5 Marks)

Answer

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Tags: Audit Management, Business Growth, expansion, Joint Audit
Level: Level 3

Topic: Group audits

CSME – Nov 2015 – L2 – Q4 – Risk Management and Corporate Strategy

Analyzes strengths and weaknesses of Toyin Trust Insurance Plc pre- and post-2000 ownership changes, and suggests strategies for sustaining the company.

Question

Toyin Trust Insurance Company is one of the duly registered insurance companies in Nigeria. Ten years after it started operations in 1990, the company had become a household name in the market. Its strengths included timely payment of claims and introduction of quality products that captured changing customers’ needs.

At inception, the company was 100% foreign-owned, with five of the seven directors being experienced expatriate insurance practitioners. However, by 2000, over 90% of the equity had been transferred to Nigerian investors. In 2009, following reorganization, many experienced senior managers resigned, and inexperienced staff took over key positions, leading to a decline in service quality and a 40% drop in premium collection.

Required:

a. Analyze the strengths of Toyin Trust Insurance Plc before 2000. (5 Marks)
b. Analyze the strengths and weaknesses of Toyin Trust Insurance Plc after 2000. (5 Marks)
c. Suggest essential strategies to sustain Toyin Trust Insurance Plc. (10 Marks)

Answer

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Tags: Business Growth, Organizational Challenges, Risk Mitigation, Strategic Management
Level: Level 2

Topic: Corporate Governance, Risk Management and Corporate Strategy
Series: NOV 2015

SCS – July 2023 – L3 – Q3b – Strategy Implementation

Identify and explain four reasons why SavvyTech needs to research, innovate, and develop existing and new products.

Question

Business entities must innovate to survive and grow. The Director of Marketing and Sales, in a meeting, presented a product market annual performance analysis report and highlighted that the sales trend of the ‘Wrist Organiser 3b’, introduced in 2018, reduced by 75% in 2022 and by 50% in 2021.

Required:
As a member of SavvyTech plc management team, identify and explain FOUR (4) reasons why it is necessary to research, innovate and develop existing and new products as an organisation.

Answer

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Tags: Business Growth, Product Innovation, Research and Development
Level: Level 3

Topic: Strategy implementation
Series: JULY 2023

AAA – May 2019 – L3 – Q7 – Group Audits

Explain joint audit, its benefits, and challenges in the context of an automotive company’s acquisition.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Management, Business Growth, expansion, Joint Audit
Level: Level 3

Topic: Group audits

CSME – Nov 2015 – L2 – Q4 – Risk Management and Corporate Strategy

Analyzes strengths and weaknesses of Toyin Trust Insurance Plc pre- and post-2000 ownership changes, and suggests strategies for sustaining the company.

Question

Required:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Growth, Organizational Challenges, Risk Mitigation, Strategic Management
Level: Level 2

Topic: Corporate Governance, Risk Management and Corporate Strategy
Series: NOV 2015

SCS – July 2023 – L3 – Q3b – Strategy Implementation

Identify and explain four reasons why SavvyTech needs to research, innovate, and develop existing and new products.

Question

Required:
As a member of SavvyTech plc management team, identify and explain FOUR (4) reasons why it is necessary to research, innovate and develop existing and new products as an organisation.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Growth, Product Innovation, Research and Development
Level: Level 3

Topic: Strategy implementation
Series: JULY 2023

Question Tag: Business Growth

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AAA – May 2019 – L3 – Q7 – Group Audits

Explain joint audit, its benefits, and challenges in the context of an automotive company’s acquisition.

CSME – Nov 2015 – L2 – Q4 – Risk Management and Corporate Strategy

Analyzes strengths and weaknesses of Toyin Trust Insurance Plc pre- and post-2000 ownership changes, and suggests strategies for sustaining the company.

SCS – July 2023 – L3 – Q3b – Strategy Implementation

Identify and explain four reasons why SavvyTech needs to research, innovate, and develop existing and new products.

AAA – May 2019 – L3 – Q7 – Group Audits

Explain joint audit, its benefits, and challenges in the context of an automotive company’s acquisition.

CSME – Nov 2015 – L2 – Q4 – Risk Management and Corporate Strategy

Analyzes strengths and weaknesses of Toyin Trust Insurance Plc pre- and post-2000 ownership changes, and suggests strategies for sustaining the company.

SCS – July 2023 – L3 – Q3b – Strategy Implementation

Identify and explain four reasons why SavvyTech needs to research, innovate, and develop existing and new products.

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Question Tag: Business Growth

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AAA – May 2019 – L3 – Q7 – Group Audits

Explain joint audit, its benefits, and challenges in the context of an automotive company’s acquisition.

You're reporting an error for "AAA – May 2019 – L3 – Q7 – Group Audits"

CSME – Nov 2015 – L2 – Q4 – Risk Management and Corporate Strategy

Analyzes strengths and weaknesses of Toyin Trust Insurance Plc pre- and post-2000 ownership changes, and suggests strategies for sustaining the company.

You're reporting an error for "CSME – Nov 2015 – L2 – Q4 – Risk Management and Corporate Strategy"

SCS – July 2023 – L3 – Q3b – Strategy Implementation

Identify and explain four reasons why SavvyTech needs to research, innovate, and develop existing and new products.

You're reporting an error for "SCS – July 2023 – L3 – Q3b – Strategy Implementation"

AAA – May 2019 – L3 – Q7 – Group Audits

Explain joint audit, its benefits, and challenges in the context of an automotive company’s acquisition.

You're reporting an error for "AAA – May 2019 – L3 – Q7 – Group Audits"

CSME – Nov 2015 – L2 – Q4 – Risk Management and Corporate Strategy

Analyzes strengths and weaknesses of Toyin Trust Insurance Plc pre- and post-2000 ownership changes, and suggests strategies for sustaining the company.

You're reporting an error for "CSME – Nov 2015 – L2 – Q4 – Risk Management and Corporate Strategy"

SCS – July 2023 – L3 – Q3b – Strategy Implementation

Identify and explain four reasons why SavvyTech needs to research, innovate, and develop existing and new products.

You're reporting an error for "SCS – July 2023 – L3 – Q3b – Strategy Implementation"

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