Kindly solve the following financial random question : Yuna Kim, CPA, was recently hired to audit Sochi Inc.'s financial statements for the fiscal year ending December 31, 2014. She then continued to conduct test of controls related to conducting test of controls of the expenditure (acquisition and disbursements) activities after acquiring an understanding of the client's accounting and internal control structures and their operation.

The following example pertains to the spending cycle's test of controls:

Yuna Kim intends to analyze cash disbursement by selecting a sample using systematic selection with a random start. What is the primary value of this kind of selection?

In addition, the client's materials-purchasing period starts with requisitions from user agencies and ends with the receipt of materials and acknowledgment of a liability. What is the primary aim of this cycle's review?

The division controller's office presented Yuna Kim with a schedule listing the creditors and the amount owed to each at December 31, 2014, after auditing the client's accounts payable balance of one of the client's divisions. What is the most efficient audit method for ensuring that no account payables are absent from the schedule?

The company's disbursements are processed by an automated accounts payable system. The internal auditor of the company needs to match the accounts payable balance in the firm's month-end trial balance report to the master account payable file on magnetic tape. What are the right auditing methods to use in this situation?

Yuna Kim also intends to investigate the client's obtaining reports. Why is this required?

[4/2, 09:19] +254 721 751190: Question:

The issue of bonuses being paid to senior executives has come under media scrutiny as a result of the recent banking royal commission. The article "APRA urged to make CEO bonuses more transparent" by Sally Patten was published in the Australian Financial Review on 7/11/2019 (refer to the document titled Patten (2019)). A central theme in this article is that the Australian Prudential Regulatory Authority (APRA) should ensure that non-financial targets are able to measured appropriately if they are to be used to measure bonuses as part of a plan to impose restrictions on how short-term incentives are paid.

Refer to the article, Patten (2019), as well as other references, and answer the following questions:

1. Explain why APRA wants to impose restrictions on how short-term incentives are paid, referring to arguments which support the regulation of accounting as well as the bonus plan hypothesis of positive accounting theory (PAT);

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2. According to the article, "APRA is proposing to force companies to structure short-term incentives so that at least 50 per cent of senior executives' performance targets such as customer satisfaction, safety and compliance". Explain the purpose of this APRA proposal from the perspective of:

a. Agency problems; and

b. The Efficiency perspective of PAT

3. Explain the comment "If APRA wishes to push forward with its pay recommendations, it should at least ensure that non -financial measures are quantifiable, hence less easy to manipulate" from the opportunistic perspective of PAT.

25. Consider a bivariate data set. We have: N, Mean, SD for both x and for y. With only these descriptive statistics, Pearson r a. can be calculated if N is large b. can be roughly estimated c. can be calculated d. cannot be calculated e. none of the above 26. Note that this is "an empirical question" that can be probed by a call to a power function from package "pwr". How will using a one-sided statistical test of correlation, rather than a two-sided test, impact statistical power, all other factors being equal? a. it will not influence statistical power b. it will increase statistical power c. it depends on alpha d. it depends on the size of r e. it depends on sample size f. it will decrease statistical power g. it depends on the desired level of significance h. none of the above 27. It is common for Pearson correlation to be statistically significant when a. sample size is large b. each variable is a "random variable" c. the Pearson assumptions are not met d. the data were measured with great error e. sample size is small f. the data are not bivariately normal 4. the Pearson assumptions are met h. the data are nonlinear i. none of the above 28. Reflecting modern statistical thought, which of the following is the proper way for correlation to be reported in a paper submitted to a peer-review scientific journal. a. p = 0.072, r = 0.55 b. r 0.05 d. r = 0.55, p = 0.072 e. none of the aboveQuestion 5 a) Your supervisor made a statement that, 'It Is not compulsory to attend the staff meetings as long as you come to work. As a company law student, evaluate the statement to the staff who have stopped attending the staff meetings and the consequences. bj Maame Serwas has Just been appointed as a director of a limited liability company. She has approached you with confusion as she does not know what Is expected of her. Critically break down the subject on directors to her. c). Simba Co. Lid. has been operating for the past two years without holding any meetings. As the company law Intern, convince your supervisor on the need to rectify the errors. Question 5 a) Your supervisor made a statement that, "It is not compulsory to attend the staff meetings as long as you come to work. As a company law student, evaluate the statement to the staff who have stopped attending the staff meetings and the consequences. bj Maame Serwas has Just been appointed as a director of a limited liability company. She has approached you with confusion as she does not know what Is expected of her. Critically break down the subject on directors to her. c). Simba Co. Ltd. has been operating for the past two years without holding any meetings. As the company law Intern, convince your supervisor on the need to rectify the errors.According to China's Company law, who of the following persons could be eligible for appointment as a director, supervisor or senior manager of a company? A. A person who has been convicted crime of corruption B. A physical disabled person who has full civil capacity C. A former director of a company which has been declared bankrupt where he was personally responsible for the bankruptcy D. A person who has significant unpaid debts. pen Snarllo ads agist of H 8. Which of the following FIE forms is not a legal person? A. CJV B.EJV may face C. Branch office D.IHC how of villion ed meet viewing aved of bermilos ed or carolina witt 9. According to China's company law, a company may not purchase its own shares in which of the following circumstances. A. to reduce the registered capital B. to merge with another company that holds its shares C. to reward the staff of the company with shares D. to escape some tax Page 2 7 pages in total