Paul Eberhardt is the head of internal auditing at Corpus Corporation, a manufacturing concern employing 5,000 people. Sales last year were \($50\) million. He is assisted by Irma Austen, a senior internal auditor. His secretary is Sally Clift.
Paul came into the office Monday morning to a desk full of mail that had accumulated during his absence. He rang for Sally.
"Good morning, Mr. Eberhardt.
How was the conference?"
"The Institute of Internal Auditors really put on a good one this year."
"In what way?"
"I picked up a lot of good ideas."
"Sounds like more work around here."
"You bet. That's what keeps us going — the infusion of new ideas."
"What kind?"
"A number of them. But the one that really intrigues me is the idea of a long-range schedule of audits."
"What's that?"
"Setting out for a period offive years all the audits we propose to do during that time."
"It sounds like a pretty big typing job"
"That's not the half of it. We'll have to decide just what jobs we'll do, when we'll do them, and how much budget to assign to each one."
"Who'll do that?"
"I will, with the help of Irma."
"She will really love that."
"I've a notion she might, once I've sold her on the idea. Please ask her to come in."
Required: 

Prepare a paper setting forth both the benefits and the disadvantages of the long-range schedule.