What would do about the proposal and justify response

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You are one of three partners who own and operate a service company. It has been operating for 7 years. One of the other partners has always prepared the company's financial statements. Last week you proposed that the statements be audited every year because it would benefit the partners and avoid possible disagreements about the division of profits. The partner who prepares the statements proposed that his Uncle Roy, who has a lot of financial experience can do the job at little cost. Your other partner didn't say anything.

Question 1: What would you do about the proposal? Justify your response.

Question 2: What would you strongly recommend? Give the basis for your recommendation.

Reference no: EM132613641

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