In order to preserve independence, Michael must "Remove himself from the engagement as he considers the offer." (Option B). It is to be noted that this is an internal control problem.
<h3>
What is Independence in this case?</h3>
The absence of situations that jeopardize the internal audit activity's capacity to carry out internal audit tasks objectively is called Independence.
Practically, independence is achieved by ensuring that the internal audit activity has no management control for any of the organization's non-audit functions that are subject to internal audit assessments, and by distancing the internal audit activity's management from the functional oversight of the organization's senior management.
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Full Question:
Michael was on the ABC Accounting Firm's audit team for the Rasmussen Corporation audit. Rasmussen's officers were so impressed with Michael that they offered him a job as Director of Internal Audit at Rasmussen. What should Michael do in order to preserve independence?
A) Tell his superiors as soon as he has decided whether or not to accept the offer.
B) Remove himself from the engagement as he considers the offer.
C) Pray for divine guidance.
D) If he decides to reject the offer, remove himself permanently from the engagement.
Answer:
C. projected increasing health care costs for the aging population.
Explanation:
If the debt to GDP ration increases, it means that the country will owe more money compared to capacity of creating wealth. A common problem for several developed countries is that the proportion or retired people has increased compared to the total active labor force. This means that the number of people working or searching of jobs relative to the number of retired people has decreased. Even though retired people tend to have more accumulated wealth, their living expenses are also much higher. What makes this situation a problem is that retired people only have passive income, they do not have earned income. And generally speaking, passive income grows at a much lower rate that earned income.
This is why many developed countries started to implement immigration policies focusing on highly trained and educated applicants that can replace their native workforce.
Answer:
Manipulation
Explanation:
Manipulation is the term which is described as to treat or operate someone with mechanical means or with the hands especially in a manner which is skillful or inexpensive.
So, the manipulation is that which might backfire if the employees become known or aware but the tactic or the strategy which could overcome the resistance in order to change in an inexpensive manner or a way.
Answer:
a) Assets and expenses
Explanation:
Credit balance can be regarded as amount that is been owed by a business to a customer. This occur when the payment by the customer to the business exceed the current invoice stipulates. credit balances can be located or found at right side of a subsidiary ledger account, it can be found on right side of a general ledger account. credit balance that is contained on billing statement of the customers can be regarded as amount that card issuer is owing the customer.
It should be noted that one if account groups that is normally has a credit balance is Assets and expenses
Answer:
(a)
z = UN
Let the Matrix of players 1 = dictator
X Y Z
9 ² 9 ² 4 ⁵
9 ² 4 ⁵ 9 ²
4 ⁵ 9 ² 9 ²
Above is the normal form of game in matrix form with player 1 = dictator strategy.
Now, the matrix of players inspectors
XY 9 ² 9 ² 4 ⁵
XZ 9 ² 4 ⁵ 9 ²
YZ 4 ⁵ 9 ² 9 ²
The above strategy is player 2 = UN inspectors strategy.
(b)
Mixed strategy N ash equilibrium
Therefore,
The matrix of player 1 = dictator hiding strategy :
X = 9,2 9,2 4,5
Y = 9,2 4,5 9,2
Z = 4,5 4,5 9,2
The matrix of player 2 = inspector secret strategy
XY = 9,2 9,2 4,5
XZ = 9,2 4,5 4,5
YZ = 4,5 9,2 9,2
(c)
The probability that the weapon is found
=> Seeing the table above, we will calculate 6 of 9 times of inspector calculating weapon.
=> The probability that the weapon is found is
= 6 / 9
= 2 / 3
= 0.67
Explanation:
