"call for change made in the Gerhardt and Lanier

The foregoing is argued to beget mistrust between the two parties, particularly from the shareholders (employers). Consequently, the mistrust increases the inclination of enhanced monitoring of the agents’ (directors and managers) activities. Upon the foregoing principle lies the foundation of auditing profession (Millichamp & Taylor, 2008). The theory further expounds on the principle agent problem, that is, agency dilemma. The dilemma is said to be occasioned by the inclination of the agent’s inclination to act in his own best interest rather than those of the principal. There is a likelihood of moral hazard and conflict of interest arising in the corporate scene. It is exemplified that, the principal (shareholders) may be sufficiently concerned that at the likelihood of being exploited by the agent (directors and managers) that a dilemma may arise in hiring the right agents. The foregoing is necessitated by the desire to minimize or get rid of agency costs (Bebchuk & Fried, 2004). According to Adams (1994), the agency theory can provide for richer and more meaningful research in the internal audit discipline. Agency theory contends that internal auditing, in common with other intervention mechanisms like financial reporting and external audit, helps to maintain cost-efficient contracting between owners and managers.

Sample Solution

An unprecedented number of families will soon watch their children with autism leave school and flood the adult disability system. Up to a half million children with autism will reach adulthood in the next decade, according to estimates. These children, the first wave of the so-called “autism epidemic,” will enter a disability support system already under strain, according to a journal paper co-authored by Peter F. Gerhardt, EdD, chair of the Organization for Autism Research’s Scientific Council. The influx of newly-minted adults represents a “looming crisis of unprecedented magnitude for adults with autism, their families, and the ill-prepared and underfunded adult service system charged with meeting their needs,” the paper said. Across the nation, adults with autism spectrum disorder (ASD) encounter difficulties finding housing and other services tailored to their needs. They face “long waiting lists for subsidized community-based services,” according to the U.S. Interagency Autism Coordinating Committee (IACC).