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Audit of Panera Bread Company Quality Service and Market Share Process
Finance & Accounting
Pages 4 (1004 words)
Audit of Panera Bread Company Quality service and Market share process In this memorandum, I will describe the plans for the audit of Panera Bread Company in the provision of quality service and market share process. I will also discuss the rationale behind the main decisions that have gone into the audit program.
This is because, few customers subscribe to this company and, therefore, the expenses incurred by the company compared to the revenue generated from the services rendered is relatively high. In order to decrease its liabilities, and hence portray a positive image of the company, managers may attempt to take the losses into a different account especially the expenses accounts. In addition, when customers are disappointed in the orders they make, there is a higher possibility of them demanding that their order be remade or refunded. This environment provides the possibility of pilfering by employees as they can always say they had to remake an order with no hint of plausibility. Increased customer returns and higher rates of pilfering by the employees increases the costs of goods sold by the company. Another risk is that Panera Bread is in the provision of services it offers on a national, regional, and local level, and this reduces its revenues and market share. When customers get poor services, it increases their chances of shifting to another competing company offering the same services. This reduces the amount of revenue and the company incurs expenses such as, in advertising and improving its services to be better than those offered by their competitors. However, the company must make sure not to increase its prices since the customers will again shift to the competing companies. ...
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