Auditing and Assurance Service in Australia Essay

Auditing and Assurance Service in Australia - Essay Example This over extraction also may hamper the ground support system of the mine. Here overproduction also signifies that there is a huge lack of communication and interaction between the smelting division and the mining division. In fact it the problem with the entire company where signals are not present about the amount to be produced and how much amount of ore to be mined each time period. The second major risk that the division is currently having is the inability to gel with the acquired companies. As a result of this there is redundancy in operation as well as in costs incurred. These redundancies hurt more when the market is down for the ore. The business could fall drastically if the entire mining division is not centralized and integrated. The repeated processes of transferring the ores to the internal and external divisions are taking the cost component upwards. This is one of the major painful areas in the division. An ideal system would demand a proper coordination among the s hafts, and well assigned targets of productions should be given to the individual shafts. These shafts should not be made liable for the sales of the ores; rather it would be the central sales department who would have knowledge about the production requirement of the smelting departments, the foreign and the local customer demands. According to the demands production planning should be done, not the other way round. For this to happen, the mining stores of different shafts should be integrated. This brings us to the third level of risk the division has. The stores of the different shafts are not connected and no computer data base is maintained for the amount of stocks that the division is holding. The sales department to have a better knowledge about the amount of stocks that are with the different shafts should introduce a new IT package for store keeping. A proper communication flow can be maintained between the shafts and the  sales department if proper information is availab le in both the ends.  

Discuss the main barriers to business development in the assigned Essay

Discuss the main barriers to business development in the assigned country. Croatia - Essay Example 2011). Croatia was one of the wealthiest Yugoslav republics before the break up. It suffered badly during the 1991-95 period when output collapsed and the Croats missed the early opportunities of waves of investments in Europe that was followed after the collapse of the Berlin wall. But due to increased and sustained efforts to build the battered economy, its recovery started during 2000 and 2007. It had a moderate and steady GDP in between 4% and 6%. There was a rebound of the tourism industry which contributed well to the GDP growth. Moreover credit driven consumer spending also was another reason for the growth of GDP. Inflation was controlled and the currency Kuna was stable. But in spite of these growth potentials, difficult times still remain in Croatia. There are growing unemployment, increase trade deficit and unbalanced regional development. In Croatia, the state retains larger part of the economy. Privatization efforts are often met with stiff public resistance. Although ma croeconomic stabilization has been achieved in the economy, there is a lag in structural reforms because of the resistance against privatization and lack of interest shown by politicians. Joining to the EU may somewhat change things in Croatia. It could accelerate fiscal and structural reforms in the country. ... However during recent years the Croatian economy has shown signs of revival. Its latest GDP purchasing power parity is estimated to be $78.52 billion; the GDP official exchange rate is $59.92 billion. But the real GDP growth rate has gone down to negative 1.4% in 2010. The GDP per capita income is $17500 making its rank to 67th in the world. The unemployment rate in the country is 17% and the public debt is 55%. It has an external debt of $59.7 billion (The world fact book. 2010). Over the last three years, the Croatian economy has undergone vast changes. Thousands of new private enterprises have sprung up. Government owned enterprises are in the process of transformation and privatization. It has abundant natural and human resources as well as a long standing business tradition. Moreover after the collapse of communism, new legal systems which would steer the economy are being developed in Croatia. There is tremendous hope that the economy would be a market driven economy in the fut ure (How to do Business with Croatia?2010). One among the significant barriers that has affected the business sector in Croatia is the hangover of communist regime. Even though Croatia is now very well advancing towards attaining membership in the European Union, the aftermath of communist rule in the country has significantly damaged some developments with regard to privatization. Many large commercial companies in Croatia still are supported alone by the state, notably the shipyard industry. Attempts made to sell of the assets to private enterprises have failed due to tough resistance. It is inevitable that a renewed effort is needed to address these problems effectively. The economy of the country has contracted over the last two years due