Bus207-chapter10-assignment9. Paper details This assignment is subject to PLAGIARISM DETECTION SOFTWARE. And shouls be done in MLA format. The assignment covers chapter 10 pages 443-471. i rented the book from https://www.vitalsource.com/ All you have to do is click the 3 line tab on the left and click book shelf and the book is there its called ACCOUNTING USING EXCEL FOR SUCCESS 2ND EDITION if you have any problems or questions please contact meBus207-chapter10-assignment9
Literature Review on Audits and Auditing. 2.1 Introduction This chapter reviewed the detail literature on important keys in this research such as the audit, audit firm tenure, audit firm size, fraudulent financial reporting and relevant past research findings on (i) the relationship between audit-firm tenure and fraudulent financial reporting and (ii) the relationship between audit-firm size and fraudulent financial reporting. 2.2 Audit Definition of audit is different among many scholars. Audit function is defined by Nagny et al. (2002) to the function that an independent, objective assurance and also consulting activity that designed to add value and improve an organization’s operations. In the other study, Kathleen M. Jackson (2010) has further explained that an auditor can perform the two types of audits namely limited-scope or full-scope. It was proven in past studies that some clients opt to choose in receiving a limited scope audit in order to reduce audit costs. In fact, the impact of limited scope exemptions is decreased in audit procedures and as a result it can lead to lower in audit fees. In addition, a long list of audit procedure for investments is needed in the full-scope audit. 2.2.1 Quality of Audit firm The audit services as proposed by Watts (1977) is required as the monitoring methods due to the conflicts that may arise between managers and owners, and also for them who come from different classes of security holders. In addition, in past studies conducted, it was showed that audited statements’ provision is the least cost contractual response to intra-owner and owner- manager’s conflict of interest, as an example agency costs. The agency costs is different from different firms and also for over time to some clients. Besides, a heterogeneous demand required by clients for the audit services is resulted from different agency cost for some firms such as when the levels of auditing that requested is not as usual. Moreover, Watts (1977) also argued that the audit services’ quality is mentioned as the market-assessed joint probability where the auditor is able to find out a breach in the client’s accounting system and report the breach. On the other side, the specified audits may enhance the financial information’s credibility as the result of the independent verification of management-provided financing reports, thus may minimize the investor’s information risk as proposed in the study conducted by Watts and Zimmerman (1986); Mansi et al.(2004), Dye (1993) and Johnson et al. (2002). On the other side, many past studies has proven that bad financial reporting’s quality resulted from short audit-firm tenure as indicated in the study by Johnson et al., (2002); Myers et al., (2003) and Ghosh and Moon, (2005). The above mentioned past studies conducted revealed that low level of knowledge in the early years of an audit and also on the mandatory auditor rotation between audit firms has lead to low quality of earnings owned by a short audit-firm tenure. Based on the result from the past studies, it was known about the mandatory auditors rotations’ potential weaknesses of audit firms. But, it also revealed that if the rotation requirement is targeted at auditors within an audit firm, the loss of learning will not happen. Besides that, based on the past studies conducted by Mautz and Sharaf (1961); Shockley (1981) and Lyer and Rama (2004), there are a lot of arguments on the issue of client and auditor’s relationship’s duration might affect the audit quality. One of the studied has proven that audit quality is affected as auditor tenor increases, while on the other study, auditor tenure increase in line with audit quality. 2.2.2 Issues in mandatory audit firm In order to improve the quality in financial reporting, it shown that mandatory audit firm rotation is a solution. Carey (2006) has been argued that in order to improve audit quality, there is a need of policy in the mandatory rotation of audit for particular clients besides able to increase of quality for financial purpose in financial statements. Among countries that practised the policy of mandatory rotation includes: Austria, Australia, Brazil, Greece, India, Italy, Israel, Singapore, South Korea, Taiwan and the USA as mentioned in the past researched conducted by Cameran et al., (2005); Catanach and Walker (1999); Kim et al., (2004); Chi and Huang, (2005); Chi et al., (2005) and Carey and Simnett (2006). Audit partner rotation such as audit firm rotation can lead to decrease in audit quality as based on the past study, audit partner’s knowledge of a client’s business increases with his/her tenure on the audit. However, it was revealed that there are a few differences between audit partner and firm rotation which have impact on the tenure on audit quality. Chi et al (2005) has mentioned that audit quality is improved by the audit partner rotation during the first year of the relationship while on the other parts, audit firm rotation lead to decreases audit quality. Meanwhile, the audit firm rotation is occurs around the world, and even in Malaysia where the issue of audit firms or partners was not specified in detail of Malaysiaan official documents, for example in Companies Act 1965, the Security Commission regulations, approved auditing standards, and so on. It was found that rejection of such rotation idea by the business community is because of lack in official pronouncements on this issue. Even in findings of one study conducted by Jaffar and Alias (2002) showed that only 35 per cent of the audit firms’ partners and only 32.4 per cent of the chief finance officers surveyed favored audit firm rotation every three years of engagement. Meanwhile, the Edge (2002) has revelaed that in light of the Enron case, the Chairman of the Malaysian Accounting Standard Board announced the intention of the board to make it mandatory to rotate the audit firm once every five years. 2.3 Audit firm tenure In the definition of audit firm tenure, Johnson et al. (2002) has clarified that the audit firm tenure is the number of consecutive years that the audit firm has audited the client (computed by counting backward from the year the fraud began). The definition of short auditor tenure is explained by Carcello et al. (2004) by the meaning of three years or less and long auditor tenure as nine years or more. Based on the previous studies conducted by other academician, the other researches on this term revealed that imposing mandatory limits on auditor tenure is expected to improve audit quality by reducing client firms’ influence over auditors as proposed by Turner (2002); Brody and Moscove (1998); SEC 1994; AICPA 1978; U.S. Senate (1977) and Mautz and Sharaf (1961). 2.3.1 Short audit- firm tenure From the previous study conducted by Aminada and Paz-Ares (1997), the scholars has suggested that in order to replace client-specific assets, it will involves a technological limit, if not most, of them cannot be replaced immediately. Due to this, the financial-reporting quality is projected to increase as client-specific knowledge also increases in the early years of an audit engagement. Meanwhile, a client-specific asset (such as knowledge) that in line with transactions costs may allow the incumbent auditor to earn quasi rents from maintaining existing client relationships as specified by DeAngelo (1981). It was further suggested that if the existence of quasi rents skews the auditor’s incentives toward maintaining the client relationship, financial-reporting quality could be reduced in early engagement years. 2.3.2 Long audit- firm tenure As proposed by Shockley (1981), it was mentioned that the impact of the long relationship audit firm is by having a “learned confidence” in the client besides the scholars also suggests that the above mentioned learned confidence may result in the audit firm using less strenuous and less innovative audit procedures. Another author, Knapp (1991) in his past study on audit firm tenure has further defined that different audit tenure in an experimental setting besides able to gather that experienced audit committee members perceived that auditors with 5-year tenure were more likely to detect errors than auditors in the first year of an engagement or auditors with audit tenure of 20 years. On a part of it, Geiger and Raghunandan (2002) found that short-tenure auditors to issue going-concern opinions for clients that subsequently declared bankruptcy as compared with long-tenure auditors that is still on the preference in this study. 2.4 Audit firm size In term of the audit firm size, it was revealed that smaller audit firms have justified proposed wealth transfers from clients and from larger audit firms, where in general the audit quality is independent of auditor size as supported by Deangelo (1981) in his study. Moreover, in some of the audit quality term, where it was found in the study done by previous researchers, the term of quasi-rents, it might serve as collateral against such opportunistic behavior in the subject to loss from discovery of a lower-than promised audit quality. This finding can be proven on the theory of ceteris paribus, where the less incentive the auditor has to behave opportunistically and the higher the perceived quality of the audit when the larger the auditor as measured by the number of current clients and the smaller the client as a fraction of the auditor’s total quasi-rents is exist. The famous author on the theory and study done, namely DeAngelo (1981) also argues no single client is important to larger accounting firms as accounting firm size is a proxy for auditor quality, and beside, larger accounting firms are less likely than smaller accounting firms to compromise their independence. In fact, theory supported by the research taken by Dopuch and Simunic (1980) who further proposed that larger accounting firms provide higher quality services because they have greater reputations to protect. It finally defined that quality is not independent of auditor firm size when incumbent auditors earn client specific quasi-rents. Moreover, audit fees do not meant to be adjusted in full term to the incumbent auditors, with the view to the extent that the bilateral monopoly between client and incumbent auditor implies a sharing of these costs mentioned, whereby in the above mentioned case, a successful prevention of discrimination which refer to the competition from large audit firms that definitely represents a windfall gain to smaller auditors at client expense. Therefore, it can serves as an excuse to justification of the wealth transfer results from a wealth transfer from clients to smaller audit firms which under this scenario of voluntary contracts might become unfair and discriminate smaller firms. 2.4.1 Big-FourLiterature Review on Audits and Auditing
ENG 111 college Composition
ENG 111 college Composition. I’m studying and need help with a English question to help me learn.
1. Watch segments 1 and 3 of Creative Inspirations: Rick Smolan, Photographer
2. Think about what he is trying to convey in his story and how he plans out a story.
3. Complete the discussion: Your Story Through Photos
Week 1 – Write your story through photos.
· Use a Word or PowerPoint Document;
· Include 10 images telling your story (personal photographs or representative images from the web);
Add captions under each photo of a minimum of 25 words
ENG 111 college Composition
Law writing assignment J
professional essay writers Law writing assignment J.
You must do your own work and use Turnitin. I will not accept any paper that has 25% or more“similarity.” See Syllabus. I will also not accept papers that fail to properly cite to sources.Like all papers you’ll submit, formatting is: 1” margins all around, double-spaced, Times New Roman, 12-point font. No headers, extra spaces between paragraphs – none of the little tricks that take up space.There is a 5 full page minimum, If you want a better score, then do more than the minimum required work. I can tell when a student has done the work and when they have waited until the last minute to throw something together.Question 1:There are three (3) mandatory “eligibility” requirements for employees wishing to take FMLA leave. First, in your own words, identify those three requirements in detail. Then, locate a case where a court ruled that the employee did not meet one of the three requirements and explain the court’s reasoning.Question 2:Employees wishing to take FMLA leave can do so for a variety of reasons. First, identify the most common reasons an employee may request FMLA leave. Then, describe what steps an employee must take to request FMLA leave. Finally, what must an employer do when presented with a request from an employee? May an employer deny FMLA leave? If so, when?Question 3:FMLA leave requires a “serious health condition.” First, in your own words, describe what has to happen before it can be determined that an employee, or a family member of an employee, suffers from a “serious health condition.” Then, find a case where an employer challenged whether an employee or family member actually suffered from a “serious health condition” and explain the court’s decision and reasoning.
Law writing assignment J
I’m working on a statistics multi-part question and need an explanation to help me study.
A survey of maple trees in three large forests was done to investigate the presence of Tar Spot, a fungus that affects the leaves of maple trees. A summary of the survey is in the screenshot attached.Use two indicator (dummy) variables to code the forest. Let ‘indicator2’ be 1 for forest 2, and 0 otherwise, let ‘indicator3’ be 1 for forest 3 and 0 otherwise. With this coding, the logisitic regression model will use the intercept for forest 1, the intercept plus the coefficient of the first indicator variable for forest 2, and the intercept plus the coefficient of the second indicator variable for forest 3. Include at least 3 decimals of precision.
Dealing with Attendance Issues
People take days off and are sometimes late for work. That is a given. The most common problem is when people take days off when they are not sick, such as wanting to stretch the weekend into 3 days, but when they really are sick, they come into work because they have run out of sick days. This is not good for the employee or other employees as they can become sick. The real problem, however, happens when they call out sick after they have exceeded the sick days allowed for the year. You can’t turn a blind eye to this behavior and it is unfair to those who make it a point to come to work everyday and are on time. It is usually just a couple of employees who are the culprits. It is especially hard to deal with attendance problems with a person who is otherwise a great employee. Nonetheless, you have to deal with it, and with equality to all. Here are eight points to keep in mind on how to control and possibly reduce attendance issues: Make sure your employees understand your view towards attendance. Make it a point to share your passion towards having a low absentee and tardiness department. Your supervisors also really need to fully understand the attendance expectations as they are on the front line and will see the infractions much more easily than you. If HR has not created one, have an attendance policy that clearly lays out the guidelines. Also lead by example by getting to work a bit early, leaving a bit late, and rarely, if ever, call out sick. Have your employee’s call you direct instead of their immediate supervisor. They might think twice knowing you, the manager, will answer the phone or hear the voice mail. Maintain accurate records. There are easy to use software programs to track attendance. You can even use something like your Outlook calendar to make a note of each infraction. Create easy to use codes to not take up too much space. For example, instead of John Doe called out sick or John Doe was 15 minutes late, use something like JD-S or JD-15m. Look for trends. If you see an employee call out on a Friday or Monday, chances are they are taken advantage of sick days for pleasure. If you see an employee call out at the end of the month when your department is at its busiest, you most likely have someone who is not a team player. If an employee is always around 5 to 10 minutes late, it’s not just a one off traffic jam but someone who just is not making the effort getting ready and to work on time. You might even see repetitive signs of sickness or tardiness with the employee looking like they have been partying all night. You want to address these trends as soon as possible. Individual problem – have a one on one meeting. Multiple people – hold a team meeting. When you have an individual or two who are repeat offenders, you want to deal with them separately. Don’t punish all for a few problem employees. However, when you are seeing a trend with multiple members of the team with attendance issues, you need to hold a team meeting and show the statistics. Stress how it can damage the achievement of goals. Reducing absenteeism might even turn into a goal in itself. This will show all that you are serious about attendance, and how their attendance is important to the overall success of the team. Stress that you should not have to hire more people to achieve the goals due to poor attendance. This will put on certain peer pressure that can work to your benefit, especially if you offer a reward to the team if they achieve an attendance record you have set. Allow for personal business. It is better for your employees to be up front and tell you the truth. There might be a few occasions when someone needs to take some time off in the day to handle something that can only be dealt with during business hours. Just make sure they do not take advantage of this gesture. Create an award program for those who do not call out or are tardy for a certain period of time. It can be a paid day off or other ideas that were given in lesson 3. It shows that even though you are a stickler regarding attendance, you want to show your appreciation to those who make it a point to show up to work and being on time. Have them make up time missed to make up for time lost. Depending on state laws and company policy, this may be an option. If not, can they use some of their vacation time, or get no time if they have already used up all of their sick time? The “no time” means they would not get paid for the time missed. It would affect hourly/non-exempt employees much more. Steps to take when dealing with attendance problems: 1. Counsel and verbal warning: E-mail, or get their attention privately as to not embarrass the individual, to meet in your office. Start off by stating you are concerned over the absences or tardiness. Establish the reasons and determine what needs to be done to improve the attendance issues. If the problem does not appear to be a major health issue of any sort, you should advise the employee that an improvement in attendance is expected, or the next step in the procedure will be taken. There should be no more attendance problems for the following 6 months. Monitor the attendance monthly and proceed to step 2 if the problem continues. Document this meeting and consider it a verbal warning, not a written warning. You should notify HR if there are any medical issues that can possibly keep the employee out of work for any length of time. If the doctor confirms fitness for work, the employee needs to be warned about the consequences of continued absence. 2. First written warning: If the employee’s absences continue, set up a second meeting. State the purpose and be prepared to discuss the reasons for the absences. Talk about the implications and how it affects the team and department, not to mention the company, and warn that if the problem continues, employment may be suspended and/or terminated. This all depends on how HR has set up the attendance policy. Document this meeting and consider it a written warning. Monitor for improvement, if there are still problems, go to step 3. 3. Second written warning or suspension: If there is still no improvement, consult with HR on what should be done next. If you can, and would like, set up another meeting with the same criteria as described in steps 1 and 2. Listen to what the employee has to say, and let them know you will get back to them to determine the next step. You can either give another written warning stating the next infraction is automatic suspension and/or termination, or go straight to the suspension stage. Again, this is determined on the existing HR policy. 4. Suspension and/or termination: If no improvement in attendance occurs, you should proceed with a temporary suspension without pay. The intention to suspend should be confirmed in writing with details of start and end dates. HR will be involved and your presence may or may not be required. It is imperative that you have documented every meeting with exact detail. This might be needed if it ever goes to court. If it is determined that the employee should be terminated, the employee should be advised that as a result of excessive attendance issues, they will be dismissed. At this point, HR policies regarding pay and benefits will be discussed. Before you take drastic measures with all that has been discussed so far in this lesson, make sure the problem is not morale related or some other underlying issue. The fault might be yours due to departmental cracks, which you will need to find out what is wrong and fix as soon as possible. There might also be a problem with the time clock, parking situation, or scheduling that you should do your best to fix, or come up with an alternative solution.