1. What actions or steps do internal auditors need to take to assess the governance, risk management process and internal controls in regards to managing third party vendors?
2. A project will increase sales by $140,000 and cash expenses by $95,000. The project will cost $100,000 and will be depreciated using the straight-line method to a zero book value over the 4-year life of the project. The company has a marginal tax rate of 34 percent. What is the value of the depreciation tax shield?