Discuss some of the agency problems your client might encounter and explain how such agency problems can be resolved.

Q: What is the ethical dilemma you face? What are the ethical considerations? Consider your options a

A: Solution- An ethical dilemma (ethical paradox or moral dilemma) is a problem in the decision-making…

Q: How do you think that information, such as CSR-related information, could be used to manage an…

A: When a business is contributing a defined percentage of its profits on charitable activities or…

Q: Given what you have learned about independence, do you believe that there would be a…

A: Definition: Auditor’s Opinion: It is a written statement describing an auditor’s liberated,…

Q: How does the accountant's focus on the commercial goals as a priority affect the performance of his…

A: Accountants are the professionals which have the specialized degree to prepare accounts of the…

Q: Is the agency problem an ethical issue or an Economic issue ?

A: The agency problem is a conflict of interest

Q: discuss the three ways of resolving the agent problem in public company

A: Principal agent problem arise when there is a conflict between interest of principal and agent. This…

Q: What is the basic relationship between the effectiveness of the client’s internal control and the…

A:

Q: What are agency problems?

A: Owners of the company are shareholders. The number of the shareholders for a corporation will be…

Q: What are agency conflicts? What groups can have agency conflicts?

A: Introduction: The problem or conflict of the entity occurs as a result of conflict between two…

Q: Understand the role of attorney letters in evaluating litigation, claims, and assessments.

A: Attorney's Letter:   Attorney letter is a formal business letter prepared by the client as per…

Q: Explain principal (agency relationships)

A: Answer: Agent: An agent is one who provides work on principal’s behalf.  Principal approves agent to…

Q: Decide if a leader is being genuine or transformative or serving as a servant to the organization.…

A: The answer

Q: Discuss the differences between management letter and legal representation letter

A: Definition:   Auditing: In auditing, auditors verify the correctness and fair presentation of…

Q: When gaining an understanding of the client by speaking with the management of the client, the…

A: An auditor is a person who is appointed to check the accuracy of the financial statements prepared…

Q: What is the relevance of the police officer to the decision making of an entity?

A: Decision Making Strategy Decision making is an important process in the organisation to make…

Q: Looking at different literature, discuss if there is a unique definition for the social…

A:

Q: what are the objectives of the client representation letter?

A: Client representation letter refers to the vital evidence piece in audit and the representation as…

Q: How should recommendations and suggestions by a covered member to a client be handled?

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: When does an agency problem happen?

A: Agency problem is the probelm of difference in opinion of management and the shareholders.

Q: What is an agency order?

A: Solution- Agency order An order to buy or sell that a broker executes with another investor. The…

Q: What sources of information can auditors use in connection with deciding whether to accept a new…

A: Definition: Auditing: Auditing is the process by which assertions made by management about financial…

Q: Which of the following elements of internal control includes maintaining records of employees…

A:

Q: Describe the agency problem in public companies

A: Definition:

Q: Auditor's goal is to better assist their clients by learning about a client's internal control.

A: It is explained in this question that auditors attempt to understand a client's internal control to…

Q: The primary objective of compliance auditing is toa. Give an opinion on financial statements.b.…

A: Auditing: Auditing is the process by which assertions made by management about financial…

Q: Describe what is the sequence of steps that provide a framework for analyzing ethical issues?

A: Ethics implies the arrangement of rules that the association ought to follow. While in business,…

Q: Select one of the following principles of professional conduct to examine in the AICPA Code of…

A: objectivity and independence - objectivity is to being rational while making professional judgement…

Q: Discuss the various options for properly positioning an internal audit function within an…

A: The following are the various options for effectively positioning an internal audit function within…

Q: What audit procedures can be used to verify officers’ compensation?

A: Audit procedures are those procedures or techniques which are followed through the auditors, in…

Q: Explain the relevance of contract law to accountants. Include any ethical factors that might need to…

A: Answer: The basic principles of contract law embrace mutual assent, thought, capacity and legality…

Q: what are the auditor Rules for Independence regarding the services they can offer the same client?

A: Auditing is the process of evaluation of companies' financial statements and reports by the auditor…

Q: What is the cause of the agency problem and how do we try to solve it?

A: Agency Problem:  An agent is a person who acts on behalf of another person. An agent should always…

Q: What type of audit report does a client typically want or hope for?

A: Audit report is the statement wherein the auditor gives its view on the financial statements of an…

Q: Answer the below: What do you understand by attestation services? Discuss the responsibility and…

A: Attestation Services:-These are services when a certified Public Accountant (CPA) expresses his…

Q: . What is an agency relationship? When you firstbegin operations, assuming you are the onlyemployee…

A: Answer: An agency relationship is nothing but a relationship between agent and the principal under…

Q: What shall the internal auditor pay attention in reviewing the Executive Compensation Benefits and…

A: Internal Auditor:- An internal auditor is trained professional, who is employed by the firms in…

Q: what audit determines whether organizational policies are being followed and whether external…

A: A compliance audit is a thorough examination of a company's conformity to regulatory requirements.…

Q: How do you resolve conflict of interest in an organization?

A: An organisation operates with individuals having different beliefs, tendencies and backgrounds.…

Q: Discuss the difference between the Management Letter and the Legal Representation Letter

A: Audit is conducted by auditor in which auditor assures (or denies) that the financial statements of…

Q: What is an agency problem?

A: The agency drawback may be a conflict of interest that happens once agents do not absolutely…

Q: What are the strengths and weaknesses of Agency theory and stakeholders?

A: Agency Theory A theory that is used to explain and resolve issues in the relationship between…

Q: How can agency problems be resolved.

A: A principal is one who hires an agent to perform some of his duties. Hence, it is the responsibility…

Q: explain why and auditor needs an understanding of the client's industry

A: A person who has the authority to examine financial documents, confirm their accuracy, and make sure…

Q: Distinguish between ethical issues and legal issues.

A: Definition:   Ethics: Ethics are moral obligations that are enforced by society or personal beliefs.…

Q: Define agency problems, and describe how they give rise to agency costs.

A: Agency problems occur when the managers use the firm's resources to invest in projects that may not…