III. Required 1. Why do firms use time budgets? What is a high-stretch budget? 2. Identify at least three alternatives that Brad should consider. Discuss the alternatives and factors that Brad should consider in making his decision. In your discussion, give consideration to using an ethics model. Examples of ethics models or guidance are listed in Appendices A and B. 3. What should Brad do? Explain why the alternative that you selected was preferable to the others. 4. Would your decision be inuenced if Brad's discussions with some staff accountants who were hired last year reveled that underreporting time was a common practice in the rm. According to the grapevine, some partners underreported time. 5. Would your analysis (including consideration of cultural factors) and decision be different if Brad was an expatriate working at an audit rm in: a. Berlin Germany? b. Shanghai, China