Management Has Instated a New Grievance Process

question 27

Multiple Choice

Management has instated a new grievance process.When an employee has a grievance a manager,in another department is assigned as an independent mediator to evaluate the employee's complaint.That manager must submit a written report to the Vice President of Human Resources,who must act on the report and discuss the resolution with the employee,the employee's manager,and any other relevant personnel. Management acknowledges that this process will mean that an employee will be paid for several hours of work during the grievance process and several managers will spend time in the process.However,this process will likely reduce employee turnover.
This process has been in place for 18 months.Management wants to know what the costs are for the grievance process and if the new process is achieving the stated objective of reducing employee turnover.What type of audit would internal perform?

• A)Operational audit.
• B)Governance audit.
• C)Compliance audit.
• D)Performance audit.

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Definitions:

Days' Sales

Often part of larger financial metrics, this term by itself is unclear without additional context such as Days' Sales Outstanding (DSO).

Ending Inventory

The final value of goods available for sale at the end of an accounting period, calculated before the start of a new period.

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor directly involved in creating the product.

Total Assets

The sum of all current and non-current assets owned by a business, indicating its total resources.