IV. PROCEDURE OF PERFORMING THE EXTERNAL AUDIT
A. COLLECTING DATA (Internet, Interviews, Survey, Books Magazines and Journals etc.)
7-Eleven?is an American-Japanese international chain of?convenience stores, headquartered in?Irving, Texas, that operates, franchises, and licenses some 56,600 stores in 18 countries.?The chain was known as?Tote'm Stores?until renamed in 1946. Its parent company, Seven-Eleven Japan Co., Ltd., is located in?Chiyoda, Tokyo.?Seven-Eleven Japan is held by the?Seven & I Holdings Co. The 7?Eleven brand is known and loved around the world, and our iconic products are a big part of the American culture. And although It grown significantly over the years, our focus stays fixed on making life easier for customers. This simple idea is the reason they?re the marketplace leader. It?s also why customers, employees, Franchisees and community leaders are proud to be part of the 7?Eleven story. There are over 1,000 7-Eleven stores across the Philippines, serving a population of 99 million people. Supporting that number of stores, and servicing a population base spread across a large number of islands, requires 7-Eleven to operate a significant and complex series of warehouses. The local operator has held the license to operate the country?s 7-Eleven stores since 1982, and today they employ over 300 permanent staff in their central warehouse and operations center. The Philippines is the most hurricane susceptible large country in the world (hurricanes are also known as tropical cyclones, and locally, typhoons). With an average of 6 to 9 hurricanes reaching landfall every year, each with a rainfall of up to 40? (1 meter), they are arguably the single largest natural threat to the people and businesses in the island group7- Eleven has its website http://corp.7eleven.com/corp/business that has their basic data and information to those who like to know about their company, products and services.
Many business journals found 7-eleven as their coverage because of its name in terms of convenience stores. The Dallas Business Journal makes an article about how 7-eleven is tacking on more than 1,100 stores in a $3.3 billion acquisition. On the said article Seven & I Holdings, a Japanese company that owns Irving-based 7-Eleven Inc., said its North Texas subsidiary will purchase 1,108 Sunoco LP (NYSE: SUN) stores in 18 states in a transaction expected to close in the second half of the year. "By acquiring part of SUN?s ... gasoline retail business, 7-Eleven, Inc. will expand its store network and offer greater convenience, while also improving profitability," Seven & I said in a prepared statement. 7-Eleven's 2016 revenues were not disclosed. As of 2013, it was North Texas' largest private company, with sales of $27.03 billion. With the purchase, 7-Eleven will boast 9,815 stores in the U.S. and Canada. Seven & I said in October it?s aiming to grow to 10,000 locations in the two countries by 2019, and 7-Eleven Inc.'s president and CEO Joe...