Chapter 1, Problem 38P

2. The formula for calculating future value (FV) is* FV = PV/(1+r)^n FV = PV/(1+r)*n FV = PV x (1+r)^n FV = PV x (1+r)*n

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Orion Tech Solutions has been awarded a 12-month contract to develop a custom softwaresolution for a major client. The contract is a fixed-price contract valued at $1.5 million.This is the company’s first project requiring Earned Value (EV) reporting, and as part ofcompliance, they have implemented EV metrics to track project performance. The first EV report is due at the end of Month 3, with monthly reporting thereafter. Theproject baseline was established with the following key components:• Total Planned Value (PV) for the first 3 months: $300,000• Breakdown of Work Packages and Financial Data (End of Month 3):Work Package PV (BCWS)                  EV (BCWP)                   AC (ACWP)             CV        SVA                      $80,000                        $70,000                        $85,000                      ?          ?B                      $50,000                        $50,000                        $48,000                       ?         ?C…

The Company’s Act 71 of 2008 has crucial regulations that relate to the auditing of financial statements of the companies. These regulations are regulation: 26, 27, 28, 29 and 43. These regulations work in conjunction with each other and are pertinent to the public interest score concept, audit and review requirements, reportable irregularities for independent reviews, the financial reporting standards with which different entities must comply as well as the social and ethics committee. The following relevant details pertain to Harakuta (Pty) Ltd: Employees at 31 January 2023 210 Employees at 31 December 2023 250 Long-term loan: FNB bank N$30.3 million Turnover for the year to 31 December 2023 N$60 million Number of shareholders as at 31 December 2023 33 Required:a. Calculate the public interest score of Harakuta (Pty) Ltd for 2023 financial year b. With a reason of your above calculation indicate if Harakuta (Pty) Ltd requires to be audited or not.