Message : This assignment is worth 20% of the total marks in the subject and is a GROUP ASSIGNMENT. Individual assignments will not be accepted. 4.The Croucher company has been valuing its buildings using the fair value method .Its buildings are currently shown in the balance sheet at their current market value of 18.5 million. The buildings had originally cost 12 million. 5.The Kaycee company values its inventory at LIFO and is unwilling to change it to FIFO as required by the Australian accounting standards.The amount of the misstatement is known and is limited to its effect on the inventory . 6.The Genome company has prepared its financial statements but has left out details of its related party disclosures due to privacy issues.This information is required to be included under the Australian accounting standards and while the effects are material they are able to be calculated. Required: For each of the above situations state the Audit Opinion that should be given with a brief reason/explanation related to each one . Report on executive compensation An executive summary is NOT required. d. When discussing employee attitudes to risk you only need to consider risk averse employees and risk seeking employees. Part two (ii) c. When explaining how each study selects the research participants also consider from where the participants are drawn (i.e. who are the participants?) Useful Studies For Assignment Three Foss, N & Stea, D 2014, ''Putting a realistic theory of mind into agency theory: implications for reward design and management in principal-agent relations'', European Management Review, vol. 11, no. 1, pp. 101-16. Hermanson, DR, Tompkins, JG, Veliyath, R & Ye, ZS 2012, ''The compensation committee process'', Contemporary Accounting Research, vol. 29, no. 3, pp. 666-709. Ims, KJ, Pedersen, LJT & Zsolnai, L 2014, ''How economic incentives may destroy social, ecological and existential values: the case of executive compensation'', Journal of Business Ethics, vol. 123, no. 2, pp. 353-60. O''Reilly, CA, Doerr, B, Caldwell, DF & Chatman, JA 2014, ''Narcissistic CEOs and executive compensation'', The Leadership Quarterly, vol. 25, no. 2, pp. 218-31. Pepper, A & Gore, J 2014, ''The economic psychology of incentives: An international study of top managers'', Journal of World Business, vol. 49, no. 3, pp. 350-61. Pepper, A & Gore, J 2015, ''Behavioral agency theory new foundations for theorizing about executive compensation'', Journal of Management, vol. 41, no. 4, pp. 1045-68.