Use the Information in the Following Paragraph to Answer Question

question 17

Essay

Use the information in the following paragraph to answer question
You are a member of the audit team for the audit of Learnersinnit plc, a private provider of high quality educational services. The team have just completed the interim audit for the current year. You performed the work on the salaries system where you have noted the following issues:
The company currently has over three hundred teaching and office staff, organised into several different departments. The staff are paid on a fixed scale with annual increments agreed by the board. The Salaries Department prepares one month's payroll from the names on the previous payroll, adding or deleting names as instructed by the personnel department. Details of increased pay rates resulting from promotion are also supplied by the Personnel Department. Sometimes, however, the Personnel Department is so busy that they forget to telephone the Salaries Department with details of staff changes or promotions. To correct these oversights, there is sometimes an extra payroll run to prepare additional payments where necessary.
The payroll is prepared by either of the two Salaries Department staff, depending on whoever is available. The payroll calculations are usually checked for accuracy by the other employee in the department, unless one of them is absent through illness or is on holiday.
The Personnel Department manager corrects any payroll errors identified on her own computer, which is part of the same computer network, and then signs the payroll electronically to indicate overall approval. She does not have time to authorise any additional runs which are necessary, however, as these are usually required urgently.
Payments are made to staff by credit transfer directly to their bank accounts. Payments to statutory authorities, pension funds etc of the amounts deducted from employees plus the employers contributions are also paid by credit transfer within the required timescales.
-Draft a formal Management Letter (or Letter of Weaknesses) in respect of the internal control systems of Learnersinnit plc, as outlined above. The structure of the letter should be as follows:
Body of management letter:
-Identification of weaknesses in the existing internal control system
-Potential implications of these weaknesses
-Recommendations for improvement

Assess for developmental delays and formulate appropriate nursing interventions.

Understand the basic terms and definitions associated with options trading, including the concept of call and put options.

Grasp the specifics of option contracts, including the standard number of shares involved and where options are traded.

Comprehend investment strategies involving options such as protective puts, covered calls, and bull and bear spreads.

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Definitions:

Walking The Talk

Refers to individuals or organizations behaving in a manner consistent with their proclaimed values and principles.

Charismatic Leadership

A leadership style characterized by a leader's ability to inspire and motivate followers through their personality and actions.

Referent Power

A form of influence based on the leader's personal traits, where followers identify with and wish to emulate the leader.

Transactional Leadership

Involves leaders who focus on supervision, organization, and performance; leadership is based on exchanges and rewards for meeting objectives.