A large, international bank is considering outsourcing all facets of the human resource function, including recruiting, benefits, payroll, employee training, and development, compensation, and information systems. Three potentially viable vendors have been identified.

The internal audit function has been asked to review the vendor selection process and evaluate each vendor’s system of internal controls. Senior management has decided it wants a 10 equity stake in the company that performs the outsourcing function.

The original terms of the agreement call for 1,000 employees to be moved from the bank’s human resources function to the company who ultimately receives the contract. The vendor will then be responsible for evaluating the employees’ performance and determining which employees will be terminated after a six-month period.

The vendor has the option to determine which computer systems are used. The length of the contract will be either five or 10 years, depending on its pricing structure.

The bank expects to achieve significant financial gains from this outsourcing arrangement, including significant cost reductions associated with the conversion to standard applications provided by the vendor. The vendor will be expected to leverage existing systems, processes, and personnel and be able to make a profit based on the economies of scale, particularly in the systems areas.

1. Identify 2 major benefits that the bank hopes to gain by outsourcing.

2. What role can Internal Audit play in the outsourcing decision? Explain how this role would help ensure these benefits are on target to be met but not impair Internal Audit independence.

A large, international bank is considering outsourcing all facets of the human resource function, including recruiting, benefits, payroll, employee training, and development, compensation, and information systems. Three potentially viable vendors have been identified. The internal audit function has been asked to review the vendor selection process and evaluate each vendor’s system of internal controls. Senior management has decided it wants a 10 equity stake in the company that performs the outsourcing function. The original terms of the agreement call for 1,000 employees to be moved from the bank’s human resources function to the company who ultimately receives the contract. The vendor will then be responsible for evaluating the employees’ performance and determining which employees will be terminated after a six-month period. The vendor has the option to determine which computer systems are used. The length of the contract will be either five or 10 years, depending on its pricing structure. The bank expects to achieve significant financial gains from this outsourcing arrangement, including significant cost reductions associated with the conversion to standard applications provided by the vendor. The vendor will be expected to leverage existing systems, processes, and personnel and be able to make a profit based on the economies of scale, particularly in the systems areas.

1. How can Internal Audit help during the transition phase? Explain how this help would not impair independence.

2. What kinds of tests might Internal Audit perform after the transition is complete that will help the bank determine if the outsourcing was successful.

Many human diseases are genetically transmitted (for example, hemophilia or Tay-Sachs disease). Here is a simple model for such a disease. The genotype aa is diseased and dies before it mates. The genotype Aa is a carrier but is not diseased. The genotype AA is not a carrier and is not diseased.

a. If two carriers mate, what are the probabilities that their offspring are of each of the three genotypes?

b. If the male offspring of two carriers is not diseased, what is the probability that he is a carrier?

c. Suppose that the non-diseased off spring of part (b) mates with a member of the population for whom no family history is available and who is thus assumed to have probability p of being a carrier ( p is a very small number). What are the probabilities that their first offspring has the genotypes AA, Aa, and aa?

d. Suppose that the first offspring of part (c) is not diseased. What is the probability that the father is a carrier in light of this evidence?

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Hypothesis: Prenatal nutrition and prenatal environmental exposure affect organogenesis of the human embryo and fetus.

Provide support for this hypothesis using citations from the scientific literature (search the pubmed.gov Website) to demonstrate how prenatal nutrition affects organogenesis in the embryo and fetus.

Specifically, discuss how maternal diet, vitamin intake, prenatal supplementation, prenatal exposure to dietary heavy metals promote or other toxins can regulate organogenesis, especially during weeks 4-8 of life.

INCLUDE ALL CITATIONS (IN-TEXT AS WELL).

1. A hospital’s human resources department is comparing work performance with work shift times (Shifts A, B, C).
   1. What are the two qualitative variables? Classify each of them as nominal or ordinal.

2. Write the hypotheses for a chi-square test of homogeneity.

3. The data from the study is shown below. Fill in the empty table with the row percentages for each shift. Round to the nearest tenth of a percent.

4. Does there seem to be a difference in the distribution of work performance among the shifts? Why or why not?

5. The p-value from a chi-square test of homogeneity on the performance data is 0.304. Does the conclusion, based on the p-value, match your intuition in part b)? Give a thorough explanation.

Exercise 2: Gestation Times The Biology Data Book reports that the gestation time for human babies averages 278 days with a standard deviation of 12 days. Suppose that these gestation times are normally distributed.

1. Find the upper and lower quartiles for the gestation times.

2. Would it be unusual to deliver a baby after only six months of gestation? Explain.

3. Find the number of days such that 90% of babies have gestation times less than or equal to this number

4. Find the number of days such that 90% of babies have gestation times larger than or equal to this number.

1) The Administrative Simplification standards adopted by Health and Human Services (HHS) under HIPAA apply to any organization/individual that is a

2) Under the Privacy Rule, information such as a social security number is

Consider the following statements about service department costs: I. The costs of the Human Resources Department in a manufacturing organization must be allocated to production departments in order to achieve a correct costing of inventory. II. The allocation of service department costs requires that an organization select both an allocation base and an allocation method. III. Service department cost allocations are more relevant for firms involved in service industries (e.g., repair, health care) than for those involved with manufacturing. Which of the above statements is (are) correct? Select one: a. II only. b. I only. c. II and III. d. I and II. e. I, II, and III.

Some researchers claim that herbal supplements improve human memory. To test this claim, a researcher selects a sample of n = 25 college students. Each student is given herbal supplements daily for 6 weeks and then all the participants are given a standardized memory test. For the population, scores on the tests are normally distributed with µ = 70 and σ= 20. The sample of n = 25 students had a mean score of M = 80. Can we conclude that the memory scores of the sample after the “herbal supplement” treatment are significantly greater than those of the general population(population mean before treatment)? Perform a hypothesis test using a z- score statistic. Use a one-tailed test with α = .05.

The z-score statistic is