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Report on TESCO's Issue Due to Fraud 2014 & PricewaterhouseCoopers

   

Added on  2020-02-03

19 Pages7019 Words40 Views
Long-term relationship betweenTesco and Pricewaterhousecoopersimpair auditors independence

ABSTRACTEmployees are the faced of organization as they have direct interaction with customers.They are the one who deliver the products and services to customers. It is important o make surethat firm understand their customers and deliver them services accordingly. Further managementof the firm need to develop strong relationship with customers wand employees and theirbusiness operations should be performed in an effective manner so that organization may notface losses. The present report is about Tesco which faced serious issues due to fraud thatoccurred in the year 2014. The research is conducted to understand the relationship betweenTesco and Pricewaterhousecoopers impair auditors independence on reducing brand image. Forthis purpose, primary and secondary sources were used to gather information. As per the result itis identified that brand image negatively affected and the profitability also reduced due to thefraud done buy Tesco.

Table of ContentsABSTRACT.....................................................................................................................................2INTRODUCTION...........................................................................................................................1LITERATURE REVIEW................................................................................................................2RESEARCH METHODOLOGY.....................................................................................................5QUESTIONNAIRE.....................................................................................................................7DATA ANALYSIS..........................................................................................................................8Conclusion.....................................................................................................................................19REFERENCES..............................................................................................................................21

INTRODUCTIONUltimate aim of aim firm to gain maximum profit. This is only possible when they areable to understand their customers and deliver them services and products that satisfy them. Withthis respect, it is important for the firm to develop strong relationship with their customers(Dooley, 2015). With time there are many changes that has taken place and there are customershave wide range of firms that deliver their customers with similar products and services. In thiscontext, organizations make sure that they follow all the effective strategies that will enable todevelop positive perceptive within the mind of customers. When the perception of customers getnegative, then the type of services and the products that are delivered by the firm is not able toachieve the desired goals and objectives. Customers get loyal to the services and products of firmwhen they develop a trust that the company is following all type of requirements that are beingset up by government. Loyalty and brand image is developed as per the type of relationship thatthey have with their customers. When all the needs and requirements are satisfied, then itbecomes helpful to make sure that management of the firm has strong relationship with theircustomers (Berg and Moré, 2016). This way the rate of sales and profitability increases andorganization get to achieve their desired goal;s. Present report is on Tesco which is well knownfirm which is a retail firm and aim at delivering their customers with high quality services.However, there are different set of scandals that ahas raised within the firm and it has negativelyaffected the business performance and it profitability. There are different type of considerationsmade and to overcome this negative impact, there were various type of steps taken in whichmany of the employees were fired because of the act that was done by them. In order to conductthe research in an effective manner, there are aim, objectives and research questions that aredeveloped. Below given are the aim, objectives and research questions for the currentinvestigation:Aim: “To investigate on the long term relationship between Tesco and Pricewaterhousecooperscompromise auditors independence on reducing brand image”Objectives: What are the reasons behind the deficiency of auditor independence What are the threats relating to the independence and how they can be reduced? In orderto achieve this aim my objective is to study the corporate governance codes to understand1

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