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3.The spreadsheet is automatically populated directly from the general ledger, but the exchange rates must be input manually. The CFO wants you to ensure that the correct exchange rates are input and then that they are not accidently changed. Since the exchange rates are input manually, what internal controls can you suggest to ensure that the rates in the spreadsheet are accurate? (Note: You may refer back to your Auditing or AIS classes for controls regarding validity of inputs and spreadsheet integrity) 4. Discuss the impacts that the change in the value of the pound has had on results due to exchange rate fluctuations with results that would have occurred had the dollar value of the pound remained constant or declined during the first two years of Parker's ownership. ASSESS THREATS TO QUALITY OF INFORMATION. Part B. 5. Should Suffolk recognize a provision for the environmental contingency as of December 31, Year 2 in reporting to its U.S. parent under U.S. GAAP? How about when it reports to its U.K. based lender under IFRS? 3.The spreadsheet is automatically populated directly from the general ledger, but the exchange rates must be input manually. The CFO wants you to ensure that the correct exchange rates are input and then that they are not accidently changed. Since the exchange rates are input manually, what internal controls can you suggest to ensure that the rates in the spreadsheet are accurate? (Note: You may refer back to your Auditing or AIS classes for controls regarding validity of inputs and spreadsheet integrity) 4. Discuss the impacts that the change in the value of the pound has had on results due to exchange rate fluctuations with results that would have occurred had the dollar value of the pound remained constant or declined during the first two years of Parker's ownership. ASSESS THREATS TO QUALITY OF INFORMATION. Part B. 5. Should Suffolk recognize a provision for the environmental contingency as of December 31, Year 2 in reporting to its U.S. parent under U.S. GAAP? How about when it reports to its U.K. based lender under IFRS

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