Who also acts as chief executive officer

Assignment Help Financial Accounting

Reference no: EM13143236

1.HS's board of directors is controlled by George Waltson, the majority shareholders, who also acts as the chief executive officer. Management at the company's branch offices has authority for directing and controlling HS's operations and is compensated according to branch profitability. The internal auditor reports directly to Henrry Stevenson, a minority shareholders, who is chairman of the audit committee.

2. The accounting department has experienced little turn over in personnel during the five years for which Audrey has audited HS. HS"s formula constantly underestimates the allowance for loan losses, but its financial controller has always been receptive to Audrey's suggestions to increase the allowance.

REQUIRED:

Based only on the information above, indicate the factors that would affect the risk of material mistatement and explain why

Reference no: EM13143236

Questions Cloud

Calculate the concentration of cro4 2- : You have 75.0 mL of a 2.50 M solution of Na2CrO4(aq). You also have 125 mL of a 1.52 M solution of AgNO3(aq). Calculate the concentration of CrO4 2- after the two solutions are mixed together.

What was the genotype of the original heterozygous females : Female Drosophila heterozygous for three recessive mutations e (ebony body), st (scarlet eyes), and ss (spineless bristles) were testcrossed, and the following progeny were obtained: Phenotype Number wild-type 67 ebony 8 ebony, scarlet 68 ebon..

After taking a random : After taking a random start between 1 and 20 and then taking every 20th element from the sampling frame, Smith learned that 40% of the sample believed the company's president was doing a good job. The calculated standard error was 3 percent. What was..

Photovoltaic array and under insolation conditions : Photovoltaic array, Under insolation conditions of 500 W/m^2 (direct sunlight), and 10% solar cell efficiency

Who also acts as chief executive officer : HS's board of directors is controlled by George Waltson, the majority shareholders, who also acts as the chief executive officer.

Non-controlling interest in kent net income : X-Beams Inc. owned 70% of the voting common stock of Kent Corp. During 2006, Kent made several sales of inventory to X-Beams. The total selling price was $180,000 and the cost was $100,000. At the end of the year, 20% of the goods were still in X-..

The retinal ganglion : The retinal ganglion cells in the nasal hemiretina project ipsilaterally to the lateral geniculate nucleus of the thalamus and the retinal ganglion cells in the temporal hemiretina project ipsilaterally to the lateral geniculate nucleus.

Describe how hydrogen ion concentration relates to energy : Identify the statements that accurately describe how hydrogen ion concentration relates to energy production in oxidative phosphorylation.

Find the power of a study if a two-sided test is used : What is the power of such a study if a two-sided test is to be used with α = .05? How many people would need to be studied to have 80% power under the assumptions in problem A?

User Account

All Pages