Stefan Bode – författare

Essay from the year 2006 in the subject Business economics - Revision, Auditing, grade: 88 %, University of Glamorgan, language: English, abstract: This essay is concerned with the pros and cons of auditor independence and describes the way to the current audit regulation. The editor specifies five major threats which could jeopardise auditor independence. If auditors have any financial or personal interests in their clients then the self-interest threat, the self-review threat, the advocacy threat, the familiarity threat and finally the intimidation threat may occur. The intimidation threat is stressed as the most important one: as auditors highly rely on companies directors. They have the power to interfere with auditors work and can cease all lucrative non-audit service contracts if auditors do not agree with their view. Moreover, auditors remuneration is determined and auditors are appointed by them in reality. Furthermore, it is emphasised that especially in recent times some safeguards have been implemented by the profession, regulation, within the assurance clients and within auditing firms to eliminate the above-mentioned threats. Within the assurance client introduced independent audit committees are widespread. Further, auditing firms have implemented their own more narrowly prescribed ethical standards. Beyond this, it is highlighted that legislation is of paramount importance. The Companies Act 1985, 1989, 2004 and above all the ISA were enacted to enhance auditor independence. The third section commences by describing the past of audit regulation. It is explained that in response to the growing public criticism in the 1960s and 1970s the professional accountancy bodies began slowly to introduce auditing standards, ethical codes, disciplinary, licensing and monitoring arrangements. Further, in the aftermath of the demise of many large companies in the 1980s, the government started to implement a new regulatory framework to reduce auditors failures. The Companies Act 1989 and the implemented ISA in 2004 are results of the entry into the EU, as the UK must adopt EU legislation. It is estimated that in the near future the professions self-regulation may be abolished and stricter rules regarding audit liabilities will be implemented. This essay concludes by stating that the current situation may upset all stakeholders as unbiased auditors are not guaranteed by the self-regulated profession. The fact that audit is a business may contradict it, too. Nevertheless, it is mentioned that auditors, who act dependently are a tiny minority in reality.

Essay from the year 2006 in the subject Business economics - Accounting and Taxes, grade: 80 %, University of Glamorgan, language: English, abstract: This essay provides a short survey of the different tax structures prevailing in the UK, Germany and Switzerland. By doing so, the basic differences and the substantial similarities within and between these three covered countries are presented. This essay commences by outlining the tax history of Germany and Switzerland. Following, the third section is concerned with the different sources of tax revenue within each above-mentioned country. In the fourth section the focus is channelled to the trends within and between Germany and Switzerland. In this regard, the trends are identified, analysed and finally compared. After outlining the different trends the concentration shifts onto any similarities and differences between and within each country. This essay concludes by summing up the main findings of the different tax structures in the UK, Germany and Switzerland.

Seminar paper from the year 2007 in the subject Business economics - Revision, Auditing, grade: 1,0, University of Glamorgan, course: International Accounting & Auditing, language: English, abstract: This essay provides an analysis of the many hurdles in the process of truly harmonised international auditing standards. The method of analysis for this essay included a review of the current literature available in libraries and on the internet. The cultural barriers are regarded as the most difficult to overcome since they comprise of people s behaviours as well as languages. Further, it is stated that the translation process is one of the major hurdles since words in different languages are not equivalent to the English ones. Moreover, cultural diversity may also cause a general resistance as the standards are dictated by big audit firms. Additionally, the IFAC is mainly influenced by the USA and the EU which might continue to cast a damning light on the ISA. Alternatively, the level of education and the lack of professional auditing bodies in some developing countries embody the social problems. The political hurdles contain the pride of sovereignty and the political system of countries. Additionally, governments are reluctant to abandon their right to prescribe the standards for professions. Furthermore, it will also be difficult to find a majority in the national parliaments because current national standard-setters or representatives from businesses might exert pressure on the members of parliament to reject ISA. On the other hand, differences in national legislation as well as in the legal system are the main part of legal obstacles. Nowadays, a marked distinction can be drawn between the common law which is predominant in Anglo-Saxon countries and the codified law which is applied in many European continental countries. Beyond this, differences in the effectiveness of countries legal structure and national regulations like auditors liability, accounting rules also adversely impair the harmonisation process. Lastly, the economic hurdles are characterised by different user orientation of financial statements and the stages of technological developments. Further, auditors in developed countries need other standards as their counterparts in developing countries due to the growth of e-commerce and e-business. Finally, it is concluded that truly harmonised standards may not be feasible because of the many differences between countries. It seems more important to achieve a minimum set of international auditing standards as unitary standards generate many benefits.

Seminar paper from the year 2007 in the subject Business economics - Business Management, Corporate Governance, grade: 2,0, University of Glamorgan, language: English, abstract: This report provides an analysis and evaluation of the significance of a study about cultural diversity in cross-border business. Additionally, it identifies the possible advantages and disadvantages that companies will be confronted by when deciding to sell internationally. The method of analysis for this report included a review of the current literature available in libraries and on the internet. The major findings indicate that an understanding of cultural diversity is of paramount importance in order to be successful in exporting, since people s behaviour and tastes differ widely from country to country. Thus, culture has a strong impact on communication, products and their promotion. Conducting a study regarding culture enable companies to meet consumer needs, to use the marketing mix more efficiently and to set up successful foreign network channels. On the other hand, by exporting, firms may meet the challenges of face to face communication with foreign people, collaborating with foreign counterparts and convincing foreign consumers about its products. Beyond this, the company should overcome the temptation of ethnocentrism and adapt their business method to local requirements. This report finds that despite many future challenges the prospects for exporting entities are positive, if they thoroughly prepare themselves for conducting cross-border business. In detail, they should conduct a study concerning culture which should be included in a PEST framework (political, economic, social and technological analysis). Firms should, based on the culture and PEST analysis, adapt its business method to each culture. Moreover, employees should be prepared to engage in international business. They should be able to speak different languages and handle diverse cultures effectively. Companies also need to foster a consistent level of understanding and application of cultural diversity. Additionally, foreign distributors should be engaged and foreign partners should be found. Further, before starting negotiations companies negotiating teams should gather background information about its counterpart. This report also investigated the fact that cultures shift over the years. Thus, companies should regularly analyse markets and react to any changes over the years to come.