INTERNAL AUDIT AT THE HISTORICAL HUDSON'S BAY COMPANY: A CHALLENGE TO ACCEPTED HISTORY

2001 ◽  
Vol 28 (1) ◽  
pp. 19-41 ◽  
Author(s):  
Gary Spraakman
Keyword(s):  
Board Of Directors ◽  
Internal Audit ◽  
Senior Manager ◽  
Retail Operations ◽  
Hudson's Bay Company ◽  
Internal Auditor ◽  
Additional Information ◽  
History Of ◽  
Stage Development ◽  
Hudson’S Bay Company

The accepted history of managerial internal audit is that its origins are in financial and compliance auditing. Managerial was added after firms started to expand geographically or into other businesses. That expansion increased complexity and created problems for managers which the internal auditor assisted in solving with managerial audits. Contrary to that two stage development, something comparable to managerial internal audit was being practiced by the Hudson's Bay Company in the form of inspections as early as 1871. Rather than in financial and compliance auditing, these inspections had their geneses in the desire of the senior manager and the committee (board of directors) for additional information on the fur trade and retail operations. This paper will describe the inspection function at the historical Hudson's Bay Company, the circumstances leading to the development of this function, and how it complemented other controls.

scholarly journals Bay Days: The Managerial Revolutions and the Hudson’s Bay Company Department Stores, 1912‑1939

2006 ◽  
Vol 21 (1) ◽  
pp. 173-196 ◽  
Author(s):  
David Monod
Keyword(s):  
Business History ◽  
Scientific Management ◽  
American Business ◽  
Department Stores ◽  
Hudson's Bay Company ◽  
Large Measure ◽  
History Of ◽  
Business Structures ◽  
Marketing Methods ◽  
Hudson’S Bay Company

Abstract North American business history has long been dominated by a belief in the centrality of entrepreneurial innovation to corporate success. This paper looks at the history of the Hudson's Bay Company Stores Department and attempts to explain from within the traditional business-history framework the company's prolonged inability to create a profitable chain of department stores in Western Canada. During the interwar years the HBC was highly competitive in its marketing methods and up-to-date in its business structure. Indeed, the company's failure seems to have stemmed in large measure from these very factors, from its excessive reliance upon scientific management formulas and organizational theories. It was only during the Depression that the Bay was able to recoup its losses by moving away from the professional orthodoxies of the twenties, returning to older business structures, and deciding on a more consumer-oriented approach.

The History of the Hudson's Bay Company

Polar Record ◽  
1935 ◽  
Vol 2 (9) ◽  
pp. 54-60
Keyword(s):  
Fur Trade ◽  
Hudson Bay ◽  
Hudson's Bay Company ◽  
History Of ◽  
Charles Ii ◽  
Privy Councillor ◽  
Hudson’S Bay Company

Early in the reign of Charles II two Frenchmen—Radisson and Groseilliers—were unsuccessful in eliciting interest in their own country in a scheme for establishing a fur trade with Hudson Bay, whither they had penetrated a few years previously. They consequently made their way to Boston, where they met Sir George Carteret, Privy Councillor to Charles II, Vice-Chamberlain of the Household, Treasurer of the Navy, then on a commission to Massachusetts. Sir George took them with him to England and introduced them to the King and Prince Rupert, who were much interested in their scheme. Action was delayed temporarily owing to the war with Holland and because the command of the sea was held by the Dutch, but meanwhile Radisson and Groseilliers were housed in Windsor at the expense of the King.

scholarly journals Analysis of Competence and Independence of Internal Auditor on Internal Audit Quality

2020 ◽  
Vol 5 (2) ◽  
pp. 96-102
Author(s):  
Leriza Desitama Anggraini
Keyword(s):  
Board Of Directors ◽  
Internal Control ◽  
Audit Quality ◽  
Task Force ◽  
Internal Audit ◽  
Study Data ◽  
Internal Auditor ◽  
The Board Of Directors ◽  
Operational Activities

Research is conducted with the aim of analyzing competencies and independence affecting the quality of audits in the company. The company's extensive scope restricts management and the board of directors from conducting direct oversight of internal and external activities in each of the company's operational activities. Therefore, management and the board of directors need a task force tasked with overseeing and examining the company's operational activities in order to improve internal control effectively and efficiently. There are still many problems of independence among internal auditors to date due to the position of internal Auditor working for management or working for the company. Research is carried out with a quantitative approach and with descriptive methods. The design of the research is a case study. Data collection techniques are carried out by questionnaire method and document inspection. Based on the results of the study concluded there is an influence of competence and independence on the quality of internal audits.

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