Gainsharing is an incentive plan that ________
A) uses a trust to hold stock in individual employee accounts and distributes it to employees upon retirement
B) engages employees in a common effort to achieve a company's productivity objectives with any resulting cost-savings gains shared among employees and the company
C) contributes company shares of its own stock or cash to be used to purchase company stock to a trust established to purchase shares of the firm's stock for employees
D) provides tax advantages for employees by deferring income taxes, often until the employee retires
Answer: B
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In an organization with a _____ structure, members are geographically dispersed but work together using information technology that provides customers the appearance of a single, unified organization.
Fill in the blank(s) with the appropriate word(s).
When initially planning a risk-based audit, which of the following steps is MOST critical?
A. Evaluating the organization's entire environment as a whole B. Establishing an audit methodology based on accepted frameworks, such as COBIT or COSO C. Documenting procedures to ensure that the auditor achieves the planned audit objectives D. The identification of the areas of high risk for controls failure