While completing a test of controls, you appropriately cleared two minor exceptions by examining related documents. The entity will need to do some serious digging to find the documents to resolve a third, similar, exception and wants to know if you really need the documents. You ask the in-charge senior, and he decides it was probably not a serious potential problem and tells you to sign off to clear the third exception without examining the under-lying documents.

Required:

1. Analyze this situation with its possible outcomes using

a. The utilitarian theory.

b. The rights- based approach.

c. The justice- based approach.