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You are the auditor for Dash Deliveries (DD), a company that delivers packages for a range of retailers across Sydney. DD pays drivers a flat rate per 8-hour shift. Last year there were no overtime payments permitted. From the beginning of this year (following a negotiation with the driver's union) drivers are entitled to overtime payments if they are required to deliver more than 60 packages or the deliveries are in more than 5 suburbs. You note that this year's wages expense is approximately the same as last year, with few overtime payments.
1. Identify the key assertion at risk.
2. Explain why this represents a risk to the auditor.
3. Outline a specific, practical preventive control that would directly address the risk.
4. Outline how you would test the preventive control recommended in (3) above.
5. Outline a specific, practical detective control that would directly address the risk.
6. Outline how you would test the detective control recommended in (5) above.
Determine Explain to the bank why (Frank's) business will be viable. Submission could include (but are not limited to) location, time of year, target consumer
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What is the fact based on the numbers? How would you comment on the rethinking capitalism and balance between shareholders and stakeholders?
The truck is expected to be driven 15,000 miles per year, Determine depreciation for the first year of the truck's useful life by the straight-line.
On June 30, 2016, Kerr Industries had outstanding $40 million of 8%, convertible bonds that mature on June 30, 2017. Interest is payable each year on June 30 and December 31. The bonds are convertible into 2 million shares of $10 par common stock. At..
What is an operating segment as defined by AASB 8? Who is the chief operating decision maker and how are the reportable segments determined?
Your mother just sold her house and would like to invest some of the proceeds for retirement income. She plans to retire in 15 years and would like to receive annual payments of $20,000 for the following 20 years. If the relevant return is 6%, how mu..
ABC was formed on June 30, 2011, through the issuance of 2,500,000 shares of common stock to owners. The company had the following transactions during 2014. On April 1, 2014, the company issued an additional 500,000 shares of stock for cash. The earn..
Company name Volatility (Standard deviation), Calculate each of the stock's expected return and risk (beta) as compared to the market.
What would you recommend him to do if this investment has an 11.5 percent rate of return, risk-free rate is 5.5 percent, and the rate of return
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